A real estate assistant invoice is for new agents that work under an experienced real estate broker. The assistant, depending on the deal between the broker or agency, will either be paid by the hour ($/hr), receive a portion of the commission, or both. Most individuals in an office are not employees and acting as independent contractors. If this is the case of the real estate assistant, they will be responsible for paying their own state and federal withholding taxes.
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Real estate assistants shadow a licensed real estate agent or broker and complete tasks that allow the agent to focus on more pressing matters. In exchange for handling said tasks, the assistant gains invaluable knowledge that prepares them for a career as a real estate agent or broker. In general, there are two (2) types of real estate assistants; those that are licensed, and those that are not. Unlicensed assistants are often responsible for completing the following tasks:
- Answer the phone
- Schedule appointments
- Gather, create, and file documents
- Place & remove signs
- Create advertisements (both digital and physical)
- Manage/repair a property
- Certain accounting duties
Licensed assistants, on the other hand, can handle the same tasks as an unlicensed assistant, with the addition of the following:
- Showing and discussing properties to clients
- Hold open houses
- Draft and submit offers
- Can solicit advice to clients
The major differentiating factor of licensed vs. unlicensed assistants is the ability to offer advice and handle offers for clients.
Those interested in a real estate career need a way to 1) gain experience, and 2) find if the career is the right one for them. Being an unlicensed real estate assistant can check both boxes. Contrary to what may be thought, there are technically no prerequisites for becoming an assistant to a real estate broker or agent. However, having taken college courses relating to business can increase an assistant’s chances of being hired.
Becoming a licensed realtor requires passing state-specific requirements, which often include 1) a minimum amount of education hours (taken via classes), a pre-licensing course, passing the state-specific examination, applying for licensure, and shadowing a licensed agent/broker for a minimum of two (2) to three (3) years (varies by state). For a complete list of each state’s requirements, check out InvestFourMore’s state-by-state real estate licensing requirements.
According to PayScale, the average real estate assistant in the United States earns an average of $14.47/hr, and $38,674.