Career and Education Opportunities for Real Estate Agents in St. Paul, Minnesota
If you want to be a real estate agent, the St. Paul, Minnesota area offers many opportunities both for education and employment. There are currently 8,420 jobs for real estate agents in Minnesota and this is projected to grow 15% to about 9,660 jobs 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. In general, real estate agents rent, buy, or sell property for clients.
Income for real estate agents is about $15 hourly or $32,860 annually on average in Minnesota. Nationally, their income is about $19 per hour or $40,150 per year. Earnings for real estate agents are not quite as good as earnings in the general category of Real Estate in Minnesota and not quite as good as general Real Estate category earnings nationally.
The St. Paul area is home to seventy-seven schools of higher education, including three within twenty-five miles of St. Paul where you can get a degree 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 studying to be 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 St. Paul 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
Dakota County Technical College - Rosemount, MN
Dakota County Technical College, 1300 145th Street East, Rosemount, MN 55068-2999. Dakota County Technical College is a small college located in Rosemount, Minnesota. It is a public school with primarily 2-year programs and has 2,919 students. Dakota County Technical College has a less than one year and an associate's degree program in Real Estate which graduated five and five students respectively in 2008.
University of St Thomas - Saint Paul, MN
University of St Thomas, 2115 Summit Ave, Saint Paul, MN 55105-1078. University of St Thomas is a large university located in Saint Paul, Minnesota. It is a private not-for-profit school with primarily 4-year or above programs. It has 10,960 students and an admission rate of 81%. University of St Thomas has a bachelor's degree and a master's degree program in Real Estate which graduated ten and five students respectively in 2008.
Hennepin Technical College - Brooklyn Park, MN
Hennepin Technical College, 9000 Brooklyn Blvd, Brooklyn Park, MN 55445. Hennepin Technical College is a medium sized college located in Brooklyn Park, Minnesota. It is a public school with primarily 2-year programs and has 5,617 students. Hennepin Technical College has a less than one year program in Real Estate which graduated two students 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; Real Estate Broker
Licensing agency: Commerce, Minnesota Dept. of
Address: Licensing Unit, Minnesota Department of Commerce, 85 7th Place East, Suite 600, St. Paul, MN 55101-3165
Phone: (651) 296-6319
Website: Commerce, Minnesota Dept. of Licensing Unit Minnesota Department of Commerce
LOCATION INFORMATION: St. Paul, Minnesota
St. Paul is located in Ramsey County, Minnesota. It has a population of over 279,590, which has shrunk by 2.6% in the past ten years. The cost of living index in St. Paul, 99, is near the national average. New single-family homes in St. Paul are valued at $213,300 on average, which is well below the state average. In 2008, thirty new homes were built in St. Paul, down from seventy-four the previous year.
The three most popular industries for women in St. Paul are educational services, health care, and finance and insurance. For men, it is educational services, professional, scientific, and technical services, and construction. The average commute to work is about 21 minutes. More than 32.0% of St. Paul residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 12.0%, is higher than the state average.
The unemployment rate in St. Paul is 7.4%, which is greater than Minnesota's average of 7.0%.
The percentage of St. Paul residents that are affiliated with a religious congregation, 61.3%, is more than both the national and state average. Zion Church, Convent of the Visitation and Saint Paul Cathedral are some of the churches located in St. Paul. The most prominent religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the Baptist General Conference.
St. Paul is home to the Saint Paul Orphange and the Wilder Center as well as Terrace Park and East View Playground.