Career and Education Opportunities for Real Estate Agents in Baltimore, Maryland
There is a wide variety of career and education opportunities for real estate agents in the Baltimore, Maryland area. There are currently 12,570 working real estate agents in Maryland; this should grow 8% to 13,600 working real estate agents in the state by 2016. This is not quite as good as the national trend for real estate agents, which sees this job pool growing by about 16.2% over the next eight years. Real estate agents generally rent, buy, or sell property for clients.
Real estate agents earn approximately $23 per hour or $49,700 per year on average in Maryland. Nationally they average about $19 per hour or $40,150 yearly. Compared with people working in the overall category of Real Estate, people working as real estate agents in Maryland earn less. They earn less than people working in the overall category of Real Estate nationally.
There are 102 schools of higher education in the Baltimore area, including four within twenty-five miles of Baltimore where you can get a degree to start your career as a real estate agent. The most common level of education for real estate agents is a high school diploma or GED. You can expect to spend only a short time training to become a real estate agent if you already have a high school diploma.
CAREER DESCRIPTION: Real Estate Agent
In general, real estate agents rent, buy, or sell property for clients. They also perform duties, such as study property listings, interview prospective clients, accompany clients to property site, discuss conditions of sale, and draw up real estate contracts.
Real estate agents present purchase offers to sellers for consideration. They also design networks of attorneys and contractors to whom clients may be referred. Equally important, real estate agents have to advise sellers on how to make homes more appealing to potential buyers. They are often called upon to answer clients' questions regarding construction work and appraisals. They are expected to direct appointments to show homes to prospective buyers. Finally, real estate agents arrange meetings between buyers and sellers when specifics of transactions need to be negotiated.
Every day, real estate agents are expected to be able to see details at a very fine level of focus. They need to articulate ideas and problems. It is also important that they listen to and understand others in meetings.
It is important for real estate agents to direct property closings, overseeing signing of documents and disbursement of funds. They are often called upon to evaluate mortgage options to help clients obtain financing at the best prevailing rates and terms. They also locate and appraise undeveloped areas for building sites, on the basis of evaluations of area market conditions. They are sometimes expected to manage title searches to establish whether clients have clear property titles. Somewhat less frequently, real estate agents are also expected to direct appointments to show homes to prospective buyers.
Real estate agents sometimes are asked to visit properties to gauge them before showing them to clients. and secure construction or purchase financing with own firm or mortgage company. And finally, they sometimes have to evaluate mortgage options to help clients obtain financing at the best prevailing rates and terms.
Like many other jobs, real estate agents must have exceptional integrity and be reliable.
Similar jobs with educational opportunities in Baltimore include:
- Advertising Agent. Sell or solicit advertising, including graphic art, advertising space in publications, custom made signs, or TV and radio advertising time. May obtain leases for outdoor advertising sites or persuade retailer to use sales promotion display items.
- Insurance Agent. Sell life, property, or other types of insurance. May refer clients to independent brokers, work as independent broker, or be employed by an insurance company.
- Real Estate Broker. Operate real estate offices, or work for commercial real estate firms, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.
- Technical Service Representative. Sell goods for wholesalers or manufacturers where technical or scientific knowledge is required in such areas as biology, engineering, and electronics, normally obtained from at least 2 years of post-secondary education.
EDUCATIONAL OPPORTUNITIES: Real Estate Agent Training
The Community College of Baltimore County - Baltimore, MD
The Community College of Baltimore County, 7201 Rossville Blvd., Baltimore, MD 21237. The Community College of Baltimore County is a large college located in Baltimore, Maryland. It is a public school with primarily 2-year programs and has 20,673 students. The Community College of Baltimore County has a one to two year program in Real Estate.
University of Baltimore - Baltimore, MD
University of Baltimore, Charles at Mount Royal, Baltimore, MD 21201-208. University of Baltimore is a medium sized university located in Baltimore, Maryland. It is a public school with primarily 4-year or above programs. It has 5,844 students and an admission rate of 50%. University of Baltimore has a bachelor's degree program in Real Estate which graduated four students in 2008.
University of Maryland-Baltimore County - Baltimore, MD
University of Maryland-Baltimore County, 1000 Hilltop Circle, Baltimore, MD 21250. University of Maryland-Baltimore County is a large university located in Baltimore, Maryland. It is a public school with primarily 4-year or above programs. It has 12,268 students and an admission rate of 72%. University of Maryland-Baltimore County has a postbaccalaureate certificate program in Real Estate.
Johns Hopkins University - Baltimore, MD
Johns Hopkins University, 3400 N Charles St, Mason Hall, Baltimore, MD 21218-2688. Johns Hopkins University is a large university located in Baltimore, Maryland. It is a private not-for-profit school with primarily 4-year or above programs. It has 20,049 students and an admission rate of 26%. Johns Hopkins University has a postbaccalaureate certificate and a master's degree program in Real Estate which graduated one and fifty-four students respectively in 2008.
Global Mobility Specialist: The purpose of Worldwide ERC's Certified Relocation Professional certification is to encourage members working in specific aspects of employee relocation to gain extensive and useful knowledge of all aspects of employee relocation.
For more information, see the Employee Relocation Council website.
Certified Relocation Professional: The purpose of Worldwide ERC Certified Relocation Professional program is to encourage members working in specific aspects of employee relocation to gain extensive and useful knowledge of all aspects of employee relocation.
For more information, see the Employee Relocation Council website.
Residential Certified Loan Officer: The Certified Loan Officer(CMT) designation creates a recognizable and meaningful seal of quality for residential loan officers.
For more information, see the Mortgage Bankers Association of America website.
REAL ESTATE SALESPERSON
Licensing agency: Department of Labor, Licensing and Regulation
Address: Board of Real Estate Commision, 500 North Calvert Street, Baltimore, MD 21201
Phone: (410) 230-6227
Website: Department of Labor, Licensing and Regulation Board of Real Estate Commision
LOCATION INFORMATION: Baltimore, Maryland
Baltimore is located in Baltimore City County, Maryland. It has a population of over 636,919, which has shrunk by 2.2% in the past ten years. The cost of living index in Baltimore, 96, is near the national average. New single-family homes in Baltimore cost $139,700 on average, which is well below the state average. In 2008, one hundred fifty-three new homes were built in Baltimore, down from two hundred four the previous year.
The top three industries for women in Baltimore are health care, educational services, and public administration. For men, it is construction, educational services, and public administration. The average travel time to work is about 31 minutes. More than 19.1% of Baltimore residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 8.7%, is lower than the state average.
The unemployment rate in Baltimore is 10.8%, which is greater than Maryland's average of 7.2%.
A W Wilson Memorial United Methodist Church, Abbott Memorial Presbyterian Church and Rogers Avenue Synagogue are all churches located in Baltimore.
Baltimore is home to the Governors Yacht Club and the Oriole Park at Camden Yards as well as Venable Park and Eutaw-Madison Apartment House Historic District. Shopping centers in the area include Alameda Shopping Center, Village Square of Cross Keys Shopping Center and Waverly Tower Shopping Center. Visitors to Baltimore can choose from Four Seasons Complete Camper Care Center, Knights Inn and Hilton & Towers for temporary stays in the area.