AccountancyISCO 3334
Real estate agent
Real estate agents administer the sales or letting process of residential, commercial properties or land on behalf of their clients. They investigate the property's condition and assess its value in order to offer the best price to their clients. They negotiate, compose a sales contract or a rental contract and liaise with third parties in order to realize the stated objectives during transactions. They undertake research to determine the legality of a property sale before it is sold and make sure the transaction is not subject to any disputes or restrictions.
Check yourself in a minute: real estate agent
Rate 5 of the 20 essential skills of this occupation (European ESCO data). No account needed.
maintain relationship with customers
advise on property value
identify customer's needs
inform on renting agreements
prospect new customers
European Skills Framework
Skills and knowledge areas required for this occupation based on European classification.
Essential (20)
customer servicecustomer serviceProcesses and principles related to the customer, client, service user and to personal services; these may include procedures to evaluate customer's or service user's satisfaction.contract lawcontract lawThe field of legal principles that govern written agreements between parties concerning the exchange of goods or services, including contractual obligations and termination.office administrationoffice administrationThe paperwork processes related to the administrative areas of an office environment. The activities or processes may include financial planning, record keeping and billing and managing the general lo...real estate marketreal estate marketThe trends concerning the buying, selling, or renting of property, including the land, buildings, and natural resources encompassed within the property; the categories of residential properties and pr...mortgage loansmortgage loansThe financial system of acquiring money by property owners or prospective property owners, in which the loan is secured on the property itself so that the property can be repossessed by the lender in ...property lawproperty lawThe law and legislation that regulates all the different ways to handle property, such as the types of property, how to handle property disputes and property contract rules.maintain relationship with customersmaintain relationship with customersBuild a lasting and meaningful relationship with customers in order to ensure satisfaction and fidelity by providing accurate and friendly advice and support, by delivering quality products and servic...advise on property valueadvise on property valueProvide advise to those that own a property, professionals in real estate, or prospective clients in real estate on the current monetary value of a property, the potential of development in order to i...identify customer's needsidentify customer's needsUse appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.inform on renting agreementsinform on renting agreementsInform landlords or tenants of a property on the duties and rights of the landlord and tenant, such as the landlord's responsibility for the upkeep of the property and the eviction rights in the event...prospect new customersprospect new customersInitiate activities in order to attract new and interesting customers. Ask for recommendations and references, find places where potential customers can be located.obtain financial informationobtain financial informationGather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.liaise with property ownersliaise with property ownersEstablish good working relations with the owner, signal problems and renovation needs, and advise on the choice of tenants.provide information on propertiesprovide information on propertiesProvide information on the positive and negative aspects of a property and the practicalities concerning any financial transactions or insurance procedures; such as location, composition of the proper...manage contractsmanage contractsNegotiate the terms, conditions, costs and other specifications of a contract while making sure they comply with legal requirements and are legally enforceable. Oversee the execution of the contract, ...value propertiesvalue propertiesExamine and evaluate land and buildings in order to make valuations about their price.compare property valuescompare property valuesObtain information on the value of properties comparable to a property which is in need of valuation in order to make more accurate appraisals and assessments, or to set or negotiate the price at whic...perform property market researchperform property market researchResearch properties in order to assess their usefulness for real estate activities, using various methods such as media research and visitation of properties, and identify the potential profitability ...prepare real estate contractprepare real estate contractCreate a contract between two parties for the purchase, sale or rental of real estate. Make sure the real estate contract and the specifications comply with the legal requirements and are legally enfo...maintain financial recordsmaintain financial recordsKeep track of and finalise all formal documents representing the financial transactions of a business or project.
Optional (36) — show
energy performance of buildingsenergy performance of buildingsFactors that contribute to lower energy consumption of buildings. Building and renovation techniques used to achieve this. Legislation and procedures regarding energy performance of buildings.virtual realityvirtual realityThe process of simulating real-life experiences in a completely immersive digital environment. The user interacts with the virtual reality system via devices such as specifically designed headsets.building construction principlesbuilding construction principlesThe component elements and principles of building construction such as types of wall construction and foundations, defects in walls and roofs and ways to address such defects.accounting techniquesaccounting techniquesThe techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.advertising techniquesadvertising techniquesThe communication strategies intended to persuade or encourage an audience, and the different media which are used to achieve this goal.modern portfolio theorymodern portfolio theoryThe theory of finance that attempts to either maximise the profit of an investment equivalent to the risk taken or to reduce the risk for the expected profit of an investment by judiciously choosing t...concurrent estateconcurrent estateThe concept in property law which stipulates the rights and duties of two parties co-owning a property, and the various ways in which co-tenancy is possible.types of insurancetypes of insuranceThe various types of risk or loss transfer policies that exist and their characteristics, such as health insurance, car insurance or life insurance.collect property financial informationcollect property financial informationCollect information concerning the previous transactions involving the property, such as the prices at which the property had been previously sold and the costs that went into renovations and repairs,...prepare sales checksprepare sales checksProvide customers with official documents that prove their purchase and payment.analyse loansanalyse loansExamine and analyse the loans provided to organisations and individuals through different forms of credit such as overdraft protection, export packing credit, term loan, and purchase of commercial bil...protect client interestsprotect client interestsProtect the interests and needs of a client by taking necessary actions, and researching all possibilities, to ensure that the client obtains their favoured outcome.liaise with local authoritiesliaise with local authoritiesMaintain the liaison and exchange of information with regional or local authorities.analyse insurance needsanalyse insurance needsGather information about the insurance needs of a client, and give information and advice about all possible insurance options.assist in loan applicationsassist in loan applicationsAssist clients with filling out and managing their applications for loans by providing them with practical assistance, such as provision of relevant documentation and instruction on the process, and o...attend trade fairsattend trade fairsAttend exhibitions organised to enable companies in a specific sector to demonstrate their latest products and services, study the activities of their competitors, and observe recent market trends.estimate profitabilityestimate profitabilityTake various factors into account to calculate the cost and potential revenues or savings gained from a product in order to evaluate the profit that could be generated by the new acquisition or by a n...create a financial plancreate a financial planDevelop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.advise on investmentadvise on investmentAssess the customer's economic goals and advise on the possible financial investments or capital investments to promote wealth creation or safeguarding.perform contract compliance auditsperform contract compliance auditsExecute a thorough contract compliance audit, ensuring that goods or services are being delivered in a correct and timely fashion, checking for clerical errors or missed credits and discounts and star...examine mortgage loan documentsexamine mortgage loan documentsExamine documents from mortgage borrowers or from financial institutions, such as banks or credit unions, relating to a loan secured on a property in order to examine the payment history of the loan, ...negotiate with property ownersnegotiate with property ownersNegotiate with owners of properties who wish to rent or sell them in order to obtain the most beneficial agreement for the potential renter or buyer.examine credit ratingsexamine credit ratingsInvestigate and look for information on the creditworthiness of companies and corporations, provided by credit rating agencies in order to determine the likelihood of default by the debtor.liaise with advertising agenciesliaise with advertising agenciesCommunicate and cooperate with advertising agencies in transmitting the goals and specifications of the marketing plan. Liaise to develop an advertising and promotional campaign that represent the aim...prepare inventory of propertiesprepare inventory of propertiesList all the items present in a property building which is leased or rented, in order to have a contractual agreement between the owner and the tenant.handle tenant changeoverhandle tenant changeoverDiscuss administrative matters with the previous and future tenants and inspect the rented accomodation (rooms, apartments, houses) to make sure that the renovation and maintenance agreement has been ...examine the conditions of buildingsexamine the conditions of buildingsMonitor and assess the conditions of buildings in order to detect faults, structural problems, and damages. Assess general building cleanliness for grounds maintenance and real estate purposes.review closing proceduresreview closing proceduresReview the documentation and gather information on the closing process of assets trading, the step in which the ownership is officially transferred from one party to another, in order to verify whethe...process paymentsprocess paymentsAccept payments such as cash, credit cards and debit cards. Handle reimbursement in case of returns or administer vouchers and marketing instruments such as bonus cards or membership cards. Pay attent...consult credit scoreconsult credit scoreAnalyse the credit files of an individual, such as credit reports which outlines a person's credit history, in order to assess their creditworthiness and all the risks that would be involved in granti...plan buildings maintenance workplan buildings maintenance workSchedule maintenance activities of property, systems and services to be deployed in public or private buildings, according to the priorities and needs of the client.write inspection reportswrite inspection reportsWrite the results and conclusions of the inspection in a clear and intelligible way. Log the inspection's processes such as contact, outcome, and steps taken.monitor title proceduresmonitor title proceduresMonitor the bundle of rights of a property and investigate all the parties involved in the current procedure, such as the transfer of a deed in the transfer of ownership of a property or the provision...organise property viewingorganise property viewingOrganise events in which prospective buyers or tenants of a property can visit the property in order to assess whether it is suitable to their needs and to obtain information, and organise plans to li...manage contract disputesmanage contract disputesMonitor issues that arise between the parties involved in a contract and provide solutions in order to avoid lawsuits.organise a damage assessmentorganise a damage assessmentOrganise a damage assessment by indicating an expert to identify and examine the damage, give information and instructions to experts and follow up on the experts, and write a damage report.
Related Occupations
Occupations that need many of the same essential skills, so the move between them is shortest.
letting agent9 shared essential skillsproperty acquisitions manager8 shared essential skillsproperty appraiser7 shared essential skillsreal estate surveyor7 shared essential skillsproperty assistant6 shared essential skillsreal estate investor6 shared essential skillsreal estate leasing manager6 shared essential skillsreal estate manager6 shared essential skills
Frequently asked questions
What does a real estate agent do?
Real estate agents administer the sales or letting process of residential, commercial properties or land on behalf of their clients. They investigate the property's condition and assess its value in order to offer the best price to their clients. They negotiate, compose a sales contract or a rental contract and liaise with third parties in order to realize the stated objectives during transactions. They undertake research to determine the legality of a property sale before it is sold and make sure the transaction is not subject to any disputes or restrictions.
What skills does a real estate agent need?
A real estate agent needs 20 essential skills, including customer service, contract law, office administration, real estate market, mortgage loans.
Will AI replace real estate agent jobs?
The AI disruption score for real estate agent is 58/100 (high risk). Skills most exposed to automation: prepare sales checks, accounting techniques, process payments. Most resilient: attend trade fairs, negotiate with property owners, protect client interests.
AI Replacement Risk
58/ 100
High Risk
Low riskHigh risk
Skills most at risk from AI
Skills resilient to automation
This is the average for the whole occupation. The AI Career Shield test (about 10 minutes) shows the risk in your own work and what you can do about it.
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