Saskatchewan JobFutures

Nature of Work

Real estate agents and salespersons act as agents for the sale or purchase of houses, apartments, commercial buildings, land and other real estate. They are employed in the real estate industry.

Nature of Work

Real estate agents and salespersons act as agents for the sale or purchase of houses, apartments, commercial buildings, land and other real estate. They are employed in the real estate industry.

Duties

Real estate salespersons and agents are responsible for all facets of the commercial and residential real estate sales. They solicit property sales listings from prospective vendors and assist prospective buyers in selecting, visiting, inspecting and making offers of purchase on real estate properties. They also assist vendors in selling property by establishing asking price, advertising the property, listing the property with multiple listing services and conducting open houses for prospective buyers.

Real estate salespersons and agents advise clients on market conditions, prices, mortgages, legal requirements and related matters. They also draw up sales agreements for the approval of purchasers and sellers. Some salespersons rent or lease properties on behalf of clients.

Example Titles

• real estate sales representative
• real estate agent
• real estate broker
• residential real estate agent
• supervisor, real estate agents
• commercial real estate agent
• estate agent

Training Paths

Real estate salespersons in the province must be licensed by the Saskatchewan Real Estate Commission. Prospective agents must be sponsored by a potential employer and have successfully completed a correspondence course and examination before their license is granted. As well, most real estate boards provide a basic knowledge course and an in-office training program for agents and salespersons. Potential real estate practitioners may find it beneficial to have previous university or college education in Commerce, Business Administration or Economics.

Trends and Outlooks

The employment prospects for this occupation are: fair

Despite a general housing boom in recent years, the number of real estate salespersons and agents in Saskatchewan actually fell between 2000 and 2005; by 35% according to Statistics Canada. It is unlikely that this rapid downward trend continued after 2005, particularly in the cities where housing sales have skyrocketed of late. At the same time, it has yet to be seen how the economic downturn starting in 2008 has negatively impacted this industry.

Real estate is a competitive business, and turnover or employee movement not uncommon. Put another way, there is always employment demand for effective workers. Increasingly,

retirement is going to create demand. In 2006, nearly 80% of all salespersons and agents in Saskatchewan were at least 45 years of age. As many older workers begin to retire, replacement positions will become available for younger salespersons and agents.

While the majority of real estate salespersons and agents in the province are well paid, there is a wide range of incomes in this field of work. In 2005, the average annual earnings for full-time agents and salespersons was $43,900. This is considerably higher than than the provincial full-time average for all occupations in 2005 ($42,300 per year). That same year, the highest paid (employed) real estate salespersons and agents earned $83,500. Salespersons and agents who are self-employed often earn considerably more than those who work for an employer.

Fifty-nine percent of all real estate salespersons and agents in Saskatchewan were male in 2006. The same year, employment for these occupations was distributed fairly evenly throughout the province; nearly 70% of all real estate salespersons and agents in the province were employed in Regina or Saskatoon in 2006.

The majority of real estate salespersons and agents in the province are employed full time--34% were employed on a part-time basis in 2005. Only 13% of all real estate salespersons and agents in Saskatchewan were self-employed in 2005, a slight decrease from 2000. Employment is moderately sensitive to overall economic conditions but generally not seasonal.

Computer-based technologies have become increasingly common in this field of work. More real estate salespersons and agents, for example, use lap top computers linked to a central office to access information for clients. Persons who are experienced with computers and other new technologies may have an advantage over others seeking employment in real estate.

Professional Associations

Saskatchewan Real Estate Commission:

Real estate salespersons must be registered with the Saskatchewan Real Estate Commission. Registration involves passing the Fundamentals of Real Estate, being registered to a real estate company, and applying for license through the company: Salespersons are also required to pass three designated, professional continuing education courses. To be licensed as either a real estate broker or a branch manager, the salesperson has to pass a further two designated, professional continuing education courses and have completed two years of work as a licensed real estate salesperson.

A companion organization at the same address and with the same personnel - the Saskatchewan Real Estate Association - provides a range of special services, principally multiple listing services at discount prices. Membership in this association is voluntary.

Address:

231 Robin Crescent

Saskatoon, SK

S7L 6M8

Telephone:(306) 374-5233

Fax:(306) 373-5377

e-mail:sreassoc@@srea.sk.ca

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