Texas Land Trusts About

Texas Land Trust Directory Listing Maincontent Local Navigation print friendly search Regulations Publications Outdoor Learning Kids Game Warden Grants Get Involved Shop FAQ Calendar Español Experience Texas Fishing & Boating State Parks & Destinations Hunting & Wildlife Land & Water Doing Business Home Land & Water Land Private Tltc Dir List Texas Land Trusts About Texas Land Trusts Starting a Land Trust Texas Land Trust Directory Foreword Listing Regional Index About the Texas Land Trust Council ( TLTC ) TLTC Board of Directors and Honorary Council News 2004 TLTC Conference Speech Bulletin Board TLTC Publications Land Trust Resources Texas Land Trusts Top 1-Million Mark in Acres Conserved Texas Land Trust Directory Listing Land Trusts are listed below. Each title is a link to additional information about the Land Trust. American Farmland Trust (413) 586-4593 or (800) 370-4879 http://www.farmland.org Archaeological Conservancy (505) 266-1540 http://www.americanarchaeology.org Audubon Texas (512) 306-0225 http://www.tx.audubon.org/ Bat Conservation International (512) 327-9721 http://www.batcon.org Bexar Land Trust (210) 222-8430 http://www.bexarlandtrust.org Big Thicket Natural Heritage Trust (903) 566-8939 or (903) 566-0535 http://www.btatx.org Brazos Valley Land Conservancy (979) 764-3844 Cactus Conservation Institute (432) 364-2620 Cibolo Conservancy (210) 699-9290 Coastal Bend Land Trust (361) 882-5624 http://www.coastalbendlandtrust.org Connemara Conservancy (214) 351-0990 http://www.connemaraconservancy.org Conservation Fund (512) 477-1712 http://www.conservationfund.org Cradle of Texas Conservancy (979) 238-5001 Ducks Unlimited (832) 595-0663 http://www.ducks.org Frontera Land Alliance (915) 545-5214 Galveston Bay Foundation (281) 332-3381 http://www.galvbay.org Guadalupe-Blanco River Trust (830) 372-5077 http://www.gbrtrust.org Gulf Coast Bird Observatory (979) 480-0999 http://www.gcbo.org Hill Country Conservancy (512) 328-2481 http://www.hillcountryconservancy.org Hill Country Land Trust (830) 997-0027 Houston Audubon Society (713) 932-1639 http://www.houstonaudubon.org Hudspeth Directive for Conservation (505) 531-7246 Humane Society of the United States Wildlife Land Trust (301) 548-7735 http://www.hsus.org Katy Prairie Conservancy (713) 523-6135 http://www.katyprairie.org Legacy Land Trust (713) 524-2100 http://www.llt.org National Wild Turkey Federation (803) 637-3106 http://www.nwtf.org Native Prairies Association of Texas (254) 897-3646 http://www.texasprairie.org Natural Area Preservation Association (512) 804-1981 or (972) 234-5768 http://www.napa-texas.org Nature Conservancy of Texas (East Texas) (409) 941-9114 Nature Conservancy of Texas (Headquarters) (210) 224-8774 http://www.nature.org Nature Conservancy of Texas (North Texas) (903) 568-4139 Nature Conservancy of Texas (South Texas) (361) 882-3584 or (361) 887-9487 Nature Conservancy of Texas (West Texas) (432) 426-2390 Panhandle Land Trust (806) 374-5317 Pines and Prairies Land Trust (512) 308-1911 Rock Art Foundation (210) 525-9907 http://www.rockart.org Texas Cave Conservancy (512) 249-2283 Texas Cave Management Association (210) 699-1388 or (512) 832-1965 http://www.tcmacaves.org Texas Land Trust Council (512) 389-4779 or (512) 389-4961 http:..www.tpwd.state.tx.us/conserve/tltc/ Texas Ornithological Society (713) 743-0590 http://www.texasbirds.org Texas Parks and Recreation Foundation (972) 744-4595 Texas Parks and Wildlife Foundation (214) 720-1478 http://www.tpwf.org Trees For Houston (713) 840-8733 http://www.treesforhouston.org Trust for Public Land (Austin) (512) 478-4644 http://www.tpl.org Trust for Public Land (Dallas) (214) 741-3600 http://www.tpl.org Trust for Public Land (Houston/Galveston) (713) 226-7200 or (713) 703-1123 Valley Land Fund (956) 971-8550 http://www.valleylandfund.com Westcave Preserve (830) 825-3442 http://www.westcave.org Wetland Habitat Alliance of Texas (936) 569-9428 http://www.whatduck.org Wimberley Valley Watershed Association (512) 847-1582 http://www.visitwimberley.org/water/ Contact Us | Help | Accessibility | Media | Site Policies | Complaints | Intranet | State of Texas | TRAILS Search | TexasOnline | Compact with Texans Texas Parks and Wildlife Department , 4200 Smith School Road, Austin, TX 78744 Toll Free: (800) 792-1112, Austin: (512) 389-4800 Content of this site © Texas Parks and Wildlife Department unless otherwise noted. Last modified: July 29, 2005, 3:56 pm

Real Estate Investment Course

Amazon.com: Real Estate Finance and Investment Manual: Books Your Store Books See All 32 Product Categories Your Account | Cart | Wish List | Help | Advanced Search | Browse Subjects | Bestsellers | The New York Times® Best Sellers | Magazines | Corporate Accounts | Amazon Shorts | Bargain Books | Used Books | Textbooks Search Amazon.com Books Web Search Join Amazon Prime and ship Two-Day for free and Overnight for $3.99. Already a member? Sign in . or Sign in to turn on 1-Click ordering. A9.com users save 1.57% on Amazon. Learn how . More Buying Choices 51 used & new from $13.88 Have one to sell? See larger image Share your own customer images Publisher: learn how customers can search inside this book. Real Estate Finance and Investment Manual (Paperback) by Jack Cummings (7 customer reviews) List Price: $34.95 Price: $23.07 & eligible for FREE Super Saver Shipping on orders over $25. See details You Save: $11.88 (34%) Availability: Usually ships within 24 hours. Ships from and sold by Amazon.com. Only 1 left in stock--order soon (more on the way). Want it delivered Tuesday, January 3? Choose One-Day Shipping at checkout. See details 51 used & new available from $13.88 Other Editions: List Price: Our Price: Other Offers: Hardcover (Revised) Order it used! Better Together Buy this book with What Every Real Estate Investor Needs to Know... byFrank Gallinelli today! Total List Price: $54.90 Buy Together Today: $36.64 Customers who bought this book also bought What Every Real Estate Investor Needs to Know About Cash Flow...And 36 Other Key FInancial Measures: Guidelines, Formulas, and Rules of Thumb for Making Money in Real Estate by Frank Gallinelli The Complete Guide to Real Estate Finance for Investment Properties: How to Analyze Any Single-Family, Multifamily, or Commercial Property by Steve Berges The McGraw-Hill 36-Hour Real Estate Investment Course by Jack Cummings Commercial Real Estate Investing 12 Easy Steps to Getting Started by Jack Cummings Investing in Real Estate With Other People's Money: 100s of Insider Strategies for Turning a Small Investment into a Fortune by Jack Cummings Explore Similar Items : in Books Product Details Paperback: 550 pages Publisher: Prentice Hall; Revised edition (April, 1997) Language: English ISBN: 0134933885 Product Dimensions: 9.2 x 7.0 x 1.6 inches Shipping Weight: 2.3 pounds. ( View shipping rates and policies ) Average Customer Review: based on 7 reviews. ( Write a review. ) Amazon.com Sales Rank: Today: #33,828 in Books Yesterday: #178,763 in Books (Publishers and authors: improve your sales ) Other Editions: Hardcover (Revised) | All Editions Citations ( learn more ) 1 book that cites this book: Profitable Real Estate Investing : Making Big Money, Finding the Right Properties, Investing on a Shoestring by Roger Woodsonin Back Matter Customers interested in this title may also be interested in: Sponsored Links: What is this? Investment Manual Regulation of Investment Advisers 2005 Edition Only $396.50 Today west.thomson.com Real Estate Rehab Funding 100% REI financing of purchase and repairs for rehab homes. 65% ARV www.rehabfunding.com Investment Property Loan Purchase or refinance investment property. No brokering accepted. www.USLandlord.com Feedback Customers who viewed this book also viewed Investing in Real Estate, Fourth Edition by Andrew James McLean Financing Secrets of a Millionaire Real Estate Investor by William Bronchick The Pre-Foreclosure Property Investor's Kit : How to Make Money Buying Distressed Real Estate -- Before the Public Auction by Thomas Lucier Real Estate Finance & Investments + Excel templates CD-ROM (Real Estate Finance and Investments) by William B Brueggeman Real Estate Finance and Investments with CD and Powerweb (Real Estate Finance and Investments) by William B Brueggeman Explore Similar Items : in Books Spotlight Reviews Write an online review and share your thoughts with other customers. 80 of 81 people found the following review helpful: Good for individual investors, less useful for professionals , December 30, 1999 Reviewer: A J Southwell (Nashville, TN) - See all my reviews Focused on real estate deals in the <$2MM category, this book offers a treasure trove of helpful tips about how to work the angles to create maximum wealth from real estate investing. Especially useful are sections on goal-setting, negotiating, dealing with banks, and secondary financing. The book is less useful for development professionals dealing with larger developments such as office buildings, apartment communities, etc, as it omits extended discussion of the institutional players. Both individuals and development professionals will find Zuckerman, Real Estate Investment and Acquisition Workbook a useful adjunct, with development professionals perhaps more intested in Brueggeman & Fisher, Real Estate Finance and Investments than this offering. Was this review helpful to you? ( Report this ) 10 of 10 people found the following review helpful: Solid , April 26, 2004 Reviewer: J. Daily (Fort Worth, Tx United States) - See all my reviews Cummings is one of my favorite R.E. authors. He is very thorough. This one has chapters on conventional and creative financing, tax exchanges, land development, discounting mortgages, sale-leasebacks, how to get started and even dealing with foreclosure. Table of contents is very thorough and makes it very easy to go to the exact page you want to to find specific information. He is good with the numbers and doesnt leave much to the imagination like many authors do. I recommend anything by this author. Was this review helpful to you? ( Report this ) Customer Reviews Average Customer Review: Write an online review and share your thoughts with other customers. 23 of 24 people found the following review helpful: Excellent "Creative Real Estate Financing" manual , February 18, 2002 Reviewer: This "no-nonsense" book, by a seasoned investor and broker, is mostly focused on non-traditional real estate financing vehicles. Bits and pieces on the subject have previously taught by various gurus, but this book covers ALL of them. If every Realtor and investor read this, we would all be better off. Other recommended RE investing reads: The Unofficial Guide to Real Estate Investing Landlording by Leigh Robinson 5 Magic Paths to Making a Fortune In Real Estate Investing The Income Stream by Robt. Goodman Was this review helpful to you? ( Report this ) 19 of 19 people found the following review helpful: Solid, comprehensive, but a bit verbose , January 5, 2002 Reviewer: C Boyle (Long Beach, CA) - See all my reviews This and Landlording, by Leigh, are my two fave's so far as a real estate investor. This one tends towards overkill with many, many examples but other readers may want that more than I did. There are one or two strategy recommendations I disagree with rather heartily, but it's clear, pretty much accurate, and very readable. The no-nonsense writing reminds me a bit of T. Dallow or J. Reed, both also recommended. Was this review helpful to you? ( Report this ) 7 of 24 people found the following review helpful: Great book, but overpriced , February 19, 2000 Reviewer: John M Garrett (Lake of the Ozarks) - See all my reviews Great book, easy to read, too pricy Was this review helpful to you? ( Report this ) 7 of 9 people found the following review helpful: Rock Solid Info on Finance Structure , December 5, 1999 Reviewer: PeteH (NYC) - See all my reviews Cummings brings 30+ years of creative RE finance experience to bear with specific examples of techniques that the average buyer/investor won't be familiar with but that work in the real world (particularly with commercial property). Could have used one more round of proofreading, but well worth studying just to expand your awareness of how to acquire property and how to get the best price when selling. Was this review helpful to you? ( Report this ) See all 7 customer reviews... Listmania! Earn real money in real estate : A list by Lisa Banghart Real Estate Books : A list by "universal_tech" Real Estate : A list by Ahsen Abro Create a Listmania! list So You'd Like to... Work Less and Earn More : A guide by carlamarie , Business Guru take another look-see IV : A guide by Melody Davis , mostly do-it-yourself style books give MOM'S MILLION DOLLAR BATH (for $99). : A guide by Jenni Moore , wife, mom, "kid sister" to 3 big brothers Create a So You'd Like to... guide Look for similar items by category Subjects > Business & Investing > General Subjects > Business & Investing > Industries & Professions > Real Estate > General Subjects > Business & Investing > Industries & Professions > Real Estate > Investments Subjects > Business & Investing > Industries & Professions > Real Estate > Mortgages Look for similar items by subject Business & Economics Business / Economics / Finance Business/Economics Finance Handbooks, manuals, etc Mortgage loans Real Estate - General Real Estate - Investments Real Estate - Mortgages Real estate business Real estate investment i.e., each book must be in subject 1 AND subject 2 AND ... 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Real estate prices and

Real estate price index, annually. 1981=100 - Statistics Sweden Find: A-Z Content Search Find more on the website --------------------------- Agriculture, forestry and fishery Business activities Citizen influence Culture and leisure Education and research Energy Environment Financial markets Health and medical care Household finances Housing and construction Information technology Judicial system Labour market Living conditions National accounts Population Prices and Consumption Public finances Social insurance Social services Trade in goods and services Transport and communications --------------------------- Use Sweden's Statistical Database Maps About Sweden's Statistical Database --------------------------- Publication plan Publications About the publications --------------------------- International statistics Information and Library Economic statistics Regional statistics Methodology --------------------------- Information services Statistics Sweden's Business Register SCB International Consulting Order international statistics Order Swedish statistics --------------------------- Swedish Statistics Net Other statistical sources Housing and construction Real estate prices and registrations of title Real estate price index Annual figures. Index 1981=100. As a comparison the consumer price development is also shown Download Data and graphs for printing out (101 kb) Comments The graph shows the development of prices for one- and two-dwelling buildings for permanent living, buildings for seasonal and secondary use and multi-dwelling and commercial buildings. The price level is expressed as an index, with base year 1981=100. The graph for one- or two dwelling buildings and buildings for seasonal and secondary use are the official real estate price index, while the graph for multi-dwelling and commercial buildings is the purchase-price coefficient transformed into a graph. The development of consumer prices has been included in the graph to further illustrate the development of prices. The late 1980s was a period with very rapid price increases. The downturn of the economy in the early 1990s ended this and the price level decreased for three years. During the latter half of the 1990s, price increases have again been considerable. For the whole period, consumer prices have increased at a much slower pace than real estate prices. Press information Statistical Databases More graphs on real estate prices Real estate price index, annual changes To Economic statistics To Business cycle indicators Top of page Updated: 2005-06-01

real estate loan fraud

Inman Real Estate News - Loss from real estate loan fraud soars to $1 billion FBI launches mortgage fraud-fighting initiative Loss+from+real+estate+loan+fraud+soars+to+%241+billion FBI+launches+mortgage+fraud-fighting+initiative %3ca+href%3d'http%3a%2f%2fwww.inman.com'+target%3d'_blank'%3eInman+News%3c%2fa%3e 2005-12-16T00%3a00%3a00.0000000-08%3a00 49246 HOME | NEWS | JOIN | PRODUCTS | CONFERENCES | ADVERTISE | ADVICE | ABOUT US | CONTACT US | SUBMIT A TIP Member Resources Members Home Search Inman News Content Warehouse Cartoon Database Weekly Newsletter Special Reports Audio Files Inman Blog Feedback Connect Registration Audio Conference LETTERS TO THE EDITOR There's no denying real estate bubble Re: ' Worst-case scenario for housing next year ' (Dec. 28) Dear Editor: I have been a real estate investor since I was 19. I am now 54. To deny a real estate bubble is to ignore the obvious market fundamentals. Obviously, there are different factors in different markets, but as a longtime investor/Realtor/broker there is no logical argument against real estate prices declining 10 percent to 30 percent in the "hot markets." The South Florida condo market will be a blood bath. The median income cannot buy the median house in most markets; interest rates will continue creeping up; speculators have driven prices to insane levels and when the going gets rough they will walk from a lot of residential properties. Most "hot" areas are becoming alarmingly overbuilt with residential inventories rising; lenders have ticking time bombs in their ARMs, negative equity and interest-only mortgages. Do your homework. Be wary of those whose opinions are tainted by the fact that they or their company have a stake in this insane market continuing. Michael H. Mosieur Mosieur Business Brokers Re: ' America closes doors to architectural expression ' (Dec. 26) Dear Editor: This is one of the most insightful articles I've read in a long time. We might add, "And what are we doing to our children as we worship at the altar of the mundane?" Years ago I read that about 1,000 children were tested for creativity just prior to entering kindergarten. Eighty-five percent of the children tested "creative." Twelve years later the same group was tested, and only 35 percent of the students tested "creative." What happened to the children along the scholastic way, and does the country even care? Where's the outcry? Isn't the creativity of our generations one of our most precious resources? It's been said that we're only one generation away from losing our freedom. Could it be that with escalating offshore competition in view, and stultifying U.S. scholastic models utilized, that the above advisory could also apply to our economic freedom? A. Bruce Belfield III Associate real estate broker Hurricane, W.V. FREE website content! Make Inman.com your homepage Get the Inman News Toolbar Link to Inman News Consumer News Commercial News Real Estate Articles from Inman News Already a Member? Log in below to view full story: User ID: Password: Lost Password? Loss from real estate loan fraud soars to $1 billion FBI launches mortgage fraud-fighting initiative Friday, December 16, 2005 Inman News To read this article, become a Member of Inman News now! JOIN NOW TO BECOME AN INMAN MEMBER 100% Satisfaction Guaranteed Group discounts available First Name: Last Name: E-mail: User Name: Call 1.800.775.4662 x128 8am - 5pm Pacific Time to order by phone or to get a discount group membership for your company or colleagues. View News Article Sample Hear Sample View Newsletter Sample Connect Info View Audio Conference Schedule Back Top © 2005 Inman News Home | Privacy | Editorial | Legal | Site Map

Real estate agents usually

Real estate brokers and sales agents Skip Navigation Links Latest Numbers U.S. Department of Labor Bureau of Labor Statistics Occupational Outlook Handbook www.bls.gov Search the Handbook BLS Home | OOH Home | Frequently Asked Questions | A-Z Index | Contact Us Printer-friendly version ( HTML ) -- PDF ) -- Real Estate Brokers and Sales Agents Nature of the Work Working Conditions Training, Other Qualifications, and Advancement Employment Job Outlook Earnings Related Occupations Sources of Additional Information Significant Points Real estate brokers and sales agents often work evenings and weekends and usually are on call to suit the needs of clients. A license is required in every State and the District of Columbia. Although gaining a job may be relatively easy, beginning workers may face competition fromwell-established, more experienced agents and brokers in obtaining listings and in closing an adequate number of sales. Employment is sensitive to swings in the economy, especially interest rates; during periodsof declining economic activity and increasing interest rates, the volume of sales and the resultingdemand for sales workers fall. Nature of the Work [ About this section ] Back to Top One of the most complex and significant financial events in peoples lives is the purchase or sale of a home or investment property. Because of this complexity and significance, people typically seek the help of real estate brokers and sales agents when buying or selling real estate. Real estate brokers and sales agents have a thorough knowledge of the real estate market in their communities. They know which neighborhoods will best fit clients needs and budgets. They are familiar with local zoning and tax laws and know where to obtain financing. Agents and brokers also act as intermediaries in price negotiations between buyers and sellers. Real estate agents usually are independent sales workers who provide their services to a licensed real estate broker on a contract basis. In return, the broker pays the agent a portion of the commission earned from the agents sale of the property. Brokers are independent businesspeople who sell real estate owned by others; they also may rent or manage properties for a fee. When selling real estate, brokers arrange for title searches and for meetings between buyers and sellers during which the details of the transactions are agreed upon and the new owners take possession of the property. A broker may help to arrange favorable financing from a lender for the prospective buyer; often, this makes the difference between success and failure in closing a sale. In some cases, brokers and agents assume primary responsibility for closing sales; in others, lawyers or lenders do. Brokers supervise agents who may have many of the same job duties. Brokers also supervise their own offices, advertise properties, and handle other business matters. Some combine other types of work, such as selling insurance or practicing law, with their real estate business. Besides making sales, agents and brokers must have properties to sell. Consequently, they spend a significant amount of time obtaining listings—agreements by owners to place properties for sale with the firm. When listing a property for sale, agents and brokers compare the listed property with similar properties that recently sold, in order to determine a competitive market price for the property. Once the property is sold, both the agent who sold it and the agent who obtained the listing receive a portion of the commission. Thus, agents who sell a property that they themselves have listed can increase their commission. Most real estate brokers and sales agents sell residential property. A small number—usually employed in large or specialized firms—sell commercial, industrial, agricultural, or other types of real estate. Every specialty requires knowledge of that particular type of property and clientele. Selling or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Agents who sell or lease industrial properties must know about the regions transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the clients particular requirements. Before showing residential properties to potential buyers, agents meet with them to get a feeling for the type of home the buyers would like. In this prequalifying phase, the agent determines how much the buyers can afford to spend. In addition, the agent and the buyer usually sign a loyalty contract which states that the agent will be the only one to show houses to buyers. An agent or broker then generates lists of properties for sale, their location and description, and available sources of financing. In some cases, agents and brokers use computers to give buyers a virtual tour of properties in which they are interested. With a computer, buyers can view interior and exterior images or floor plans without leaving the real estate office. Agents may meet several times with prospective buyers to discuss and visit available properties. Agents identify and emphasize the most pertinent selling points. To a young family looking for a house, they may emphasize the convenient floor plan, the areas low crime rate, and the proximity to schools and shopping centers. To a potential investor, they may point out the tax advantages of owning a rental property and the ease of finding a renter. If bargaining over price becomes necessary, agents must follow their clients instructions carefully and may have to present counteroffers in order to get the best possible price. Once both parties have signed the contract, the real estate broker or agent must make sure that all special terms of the contract are met before the closing date. For example, the agent must make sure that the mandated and agreed-upon inspections, including that of the home and termite and radon inspections, take place. Also, if the seller agrees to any repairs, the broker or agent must see that they are made. Increasingly, brokers and agents are handling environmental problems as well, by making sure that the properties they sell meet environmental regulations. For example, they may be responsible for dealing with lead paint on the walls. While loan officers, attorneys, or other persons handle many details, the agent must ensure that they are carried out. Working Conditions [ About this section ] Back to Top Advances in telecommunications and the ability to retrieve data about properties over the Internet allow many real estate brokers and sales agents to work out of their homes instead of real estate offices. Even with this convenience, much of the time of these workers is spent away from their desks—showing properties to customers, analyzing properties for sale, meeting with prospective clients, or researching the state of the market. Agents and brokers often work more than a standard 40-hour week. They usually work evenings and weekends and are always on call to suit the needs of clients. Although the hours are long and frequently irregular, most agents and brokers have the freedom to determine their own schedule. Consequently, they can arrange their work so that they can have time off when they want it. Business usually is slower during the winter season. Training, Other Qualifications, and Advancement [ About this section ] Back to Top In every State and the District of Columbia, real estate brokers and sales agents must be licensed. Prospective agents must be high school graduates, be at least 18 years old, and pass a written test. The examination—more comprehensive for brokers than for agents—includes questions on basic real estate transactions and laws affecting the sale of property. Most States require candidates for the general sales license to complete between 30 and 90 hours of classroom instruction. Those seeking a brokers license need between 60 and 90 hours of formal training and a specific amount of experience selling real estate, usually 1 to 3 years. Some States waive the experience requirements for the brokers license for applicants who have a bachelors degree in real estate. State licenses typically must be renewed every 1 or 2 years; usually, no examination needs to be taken. However, many States require continuing education for license renewals. Prospective agents and brokers should contact the real estate licensing commission of the State in which they wish to work in order to verify the exact licensing requirements. As real estate transactions have become more legally complex, many firms have turned to college graduates to fill positions. A large number of agents and brokers have some college training. College courses in real estate, finance, business administration, statistics, economics, law, and English are helpful. For those who intend to start their own company, business courses such as marketing and accounting are as significant as courses in real estate or finance. Personality traits are equally as important as ones academic background. Brokers look for applicants who possess a pleasant personality, are honest, and present a neat appearance. Maturity, good judgment, trustworthiness, and enthusiasm for the job are required in order to encourage prospective customers in this highly competitive field. Agents should be well organized, be detail oriented, and have a good memory for names, faces, and business particulars. Those interested in jobs as real estate agents often begin in their own communities. Their knowledge of local neighborhoods is a clear advantage. Under the direction of an experienced agent, beginners learn the practical aspects of the job, including the use of computers to locate or list available properties and identify sources of financing. Many firms offer formal training programs for both beginners and experienced agents. Larger firms usually offer more extensive programs than smaller firms. More than a thousand universities, colleges, and junior colleges offer courses in real estate. At some, a student can earn an associates or bachelors degree with a major in real estate; several offer advanced degrees. Many local real estate associations that are members of the National Association of Realtors sponsor courses covering the fundamentals and legal aspects of the field. Advanced courses in mortgage financing, property development and management, and other subjects also are available. Advancement opportunities for agents may take the form of higher rates of commission. As agents gain knowledge and expertise, they become more efficient in closing a greater number of transactions and increase their earnings. In many large firms, experienced agents can advance to sales manager or general manager. Persons who have received their brokers license may open their own offices. Others with experience and training in estimating property value may become real estate appraisers, and people familiar with operating and maintaining rental properties may become property managers. (See the Handbook statements on property, real estate, and community association managers ; and appraisers and assessors of real estate . ) Experienced agents and brokers with a thorough knowledge of business conditions and property values in their localities may enter mortgage financing or real estate investment counseling. Employment [ About this section ] Back to Top In 2004, real estate brokers and sales agents held about 460,000 jobs; real estate sales agents held approximately 24 percent of these jobs. Many worked part time, combining their real estate activities with other careers. About 6 out of 10 real estate agents and brokers were self-employed. Real estate is sold in all areas, but employment is concentrated in large urban areas and in rapidly growing communities. Most real estate firms are relatively small; indeed, some are one-person businesses. By contrast, some large real estate firms have several hundred agents operating out of numerous branch offices. Many brokers have franchise agreements with national or regional real estate organizations. Under this type of arrangement, the broker pays a fee in exchange for the privilege of using the more widely known name of the parent organization. Although franchised brokers often receive help in training sales staff and running their offices, they bear the ultimate responsibility for the success or failure of their firms. Real estate brokers and sales agents are older, on average, than most other workers. Historically, many homemakers and retired persons were attracted to real estate sales by the flexible and part-time work schedules characteristic of the field. These individuals could enter, leave, and later return to the occupation, depending on the strength of the real estate market, their family responsibilities, or other personal circumstances. Recently, however, the attractiveness of part-time real estate work has declined, as increasingly complex legal and technological requirements are raising startup costs associated with becoming an agent. Job Outlook [ About this section ] Back to Top Employment of real estate brokers and sales agents is expected to grow about as fast as average for all occupations through the year 2014, because of the increasing housing needs of a growing population, as well as the perception that real estate is a good investment. Relatively low interest rates should continue to stimulate sales of real estate, resulting in the need for more agents and brokers. In addition, a large number of job openings will arise each year from the need to replace workers who transfer to other occupations or leave the labor force. However, job growth will be somewhat limited by the increasing use of technology, which is improving the productivity of agents and brokers. For example, prospective customers often can perform their own searches for properties that meet their criteria by accessing real estate information on the Internet. The increasing use of technology is likely to be more detrimental to part-time or temporary real estate agents than to full-time agents, because part-time agents generally are not able to compete with full-time agents who have invested in new technology. Changing legal requirements, such as disclosure laws, also may dissuade some who are not serious about practicing full time from continuing to work part time. This occupation is relatively easy to enter and is attractive because of its flexible working conditions; the high interest in, and familiarity with, local real estate markets that entrants often have; and the potential for high earnings. Therefore, although gaining a job as a real estate agent or broker may be relatively easy, beginning agents and brokers may face competition from their well-established, more experienced counterparts in obtaining listings and in closing an adequate number of sales. Well-trained, ambitious people who enjoy selling—particularly those with extensive social and business connections in their communities—should have the best chance for success. Employment of real estate brokers and sales agents often is sensitive to swings in the economy, especially interest rates. During periods of declining economic activity and increasing interest rates, the volume of sales and the resulting demand for sales workers falls. As a result, the earnings of agents and brokers decline, and many work fewer hours or leave the occupation altogether. Earnings [ About this section ] Back to Top The median annual earnings of salaried real estate sales agents, including commissions, were $35,670 in May 2004.The middle 50 percent earned between $23,500 and $58,110 a year.The lowest 10 percent earned less than $17,600, and the highest 10 percent earned more than $92,770.Median hourly earnings in the industries employing the largest number of real estate sales agents in May 2004 were as follows: Residential building construction $54,770 Offices of real estate agents and brokers 37,970 Activities related to real estate 32,460 Lessors of real estate 25,840 Median annual earnings of salaried real estate brokers, including commission, were $58,720in May 2004. The middle 50 percent earned between $33,480 and $99,820 a year.Median annual earning of real estate brokers were $61,550 in offices of real estateagents and brokers and $44,920 in activities related to real estate. Commissions on sales are the main source of earnings of real estate agents and brokers.The rate of commission varies according to whatever the agent and broker agree on, the typeof property, and its value. The percentage paid on the sale of farm and commercialproperties or unimproved land is typically higher than the percentage paid for selling a home. Commissions may be divided among several agents and brokers. When the property issold, the broker or agent who obtained the listing usually shares the commission with thebroker or agent who made the sale and with the firm that employs each of them. Although anagents share varies greatly from one firm to another, often it is about half of the totalamount received by the firm. Agents who both list and sell a property maximize their commission. Income usually increases as an agent gains experience, but individual motivation,economic conditions, and the type and location of the property also affect earnings.Sales workers who are active in community organizations and in local real estate associationscan broaden their contacts and increase their earnings. A beginners earnings often areirregular, because a few weeks or even months may go by without a sale. Although some brokersallow an agent to draw against future earnings from a special account, the practice is notcommon with new employees. The beginner, therefore, should have enough money to live forabout 6 months or until commissions increase. Related Occupations [ About this section ] Back to Top Selling expensive items such as homes requires maturity, tact, and a sense of responsibility.Other sales workers who find these character traits important in their workinclude insurance sales agents ; retail salespersons ; sales representatives, wholesale and manufacturing ; and securities, commodities, and financial services sales agents .Although not involving sales, the work of property, real estate, and community association managers ,as well as appraisers and assessors of real estate, requires an understanding of real estate. Sources of Additional Information [ About this section ] Back to Top Disclaimer: Links to non-BLS Internet sites are provided for your convenience and do not constitute an endorsement. Information on licensing requirements for real estate brokers and sales agents is available from most local real estate organizations or from the State real estate commission or board. More information about opportunities in real estate is available on the Internet site of the following organization: National Association of Realtors. Internet: http://www.realtor.org OOH ONET Codes [ About this section ] Back to Top 41-9021.00, 41-9022.00 Suggested citation: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook , 2006-07 Edition , Real Estate Brokers and Sales Agents , on the Internet at http://www.bls.gov/oco/ ocos120.htm (visited December 29, 2005 ). 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