A real estate broker may work with a real estate firm assisting the buyers with their financing. In this capacity, the broker will arrange the financing for the client instead of having the client try to arrange the financing on his/her own. When a client wants to buy a particular property, the broker will take the application for financing and then search for financial institutions that will agree to approve the mortgage. However, the broker has to negotiate the terms of the mortgage so that they are acceptable to both the lender and the borrower. This search involves looking for banks and other lending institutions with the lowest mortgage rates and down payment requirements.
Once both parties have agreed to the conditions of the sale and have met the requirements, a real estate broker will prepare the documents that the lawyers need for the conclusion of the sale. The broker may conduct title searches on the property so that this is all in order before the documents reach the lawyers involved or this may be the domain of the law firm. Knowledge of how to prepare contracts and negotiate with financial institutions is a key element of succeeding in this job. Working with telecommuncations and being able to conduct research online is another necessity as this is how many brokers receive information about available properties.
Working in an office and working on the road are the two work environments that real estate brokers are familiar with. In this job, you will not work a standard forty-hour week from Monday to Friday. You will have to schedule your appointments around the needs of the clients, which means you will have to work evenings and weekends. You do have some freedom with this though, because you can schedule your own hours.
You do have to pass a state certification exam in order to become a licensed broker. You can get the education and course work you need to fulfill the requirements for writing this exam through course at a technical or vocational college or through a university degree program. These courses should include basic real estate law, which will give you knowledge of the underlying principles of buying and selling real estate. You should have a course in the real estate laws of your state, in the basics of working as a broker and take continuing education courses that will lead to certificate renewal.
