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Sales Associate
We are looking for people with a combination of strong deal-making and interpersonal skills. The skills involved include:

People skills: High

Working in real estate allows for independence and choices of environment in which to work, such as affiliation with a large or small firm as a listed salesperson. With more experience and upon passing of an additional exam, becoming a real estate broker is the next step. Brokers can own their own businesses and employ other salespeople.

Do 3 to 5 More Transactions Per Year!
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Sales skills: Very High
Communication skills: High
Analytical skills: Medium
Ability to synthesize: Low
Creative ability: Medium
Initiative: High
Work hours: 20-70/week
 
Median Gross Personal Income of Realtors®
Year
Brokers/Broker Associates
Sales
Agents
Average
Hours
2013
$66,300
$35,000
40
2014
$65,300
$33,900
40
Realtors® working 60 hours or more a week earned $80,900

*Source: NAR Research 2014









Tech-Savy agents typically make $12,000 to $50,000 more
than traditional agents.

To learn more about what Veltri Realtors has to offer view our brochure, "Simplifying Sales".
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Veltri Real Estate Associates, LP

1-866-483-5874

Call Toll Free 866-4VELTRI (483-5874) Option 9 ~ 8:00 AM to 8:00 PM EST
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Nature of the Work

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.

When selling property, brokers and agents arrange for title searches to verify ownership and for meetings between buyers and sellers during which they agree to the details of the transactions and in a final meeting, the new owners take possession of the property. They also 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.

Agents and brokers spend a significant amount of time looking for properties to sell. They obtain 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. Following the sale of the property, 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.

Before showing residential properties to potential buyers, agents meet with them to get an idea of 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 the buyer. 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 that interest them.

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, for example, they may emphasize the convenient floor plan, the area’s low crime rate, and the proximity to schools and shopping. 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 client’s instructions carefully and may have to present counteroffers to get the best possible price.

Once the buyer and seller have signed a contract, the real estate broker or agent must make sure that all special terms of the contract are met before the closing date. The agent must make sure that any legally mandated or agreed-upon inspections, such as termite and radon inspections, take place. In addition, if the seller agrees to any repairs, the broker or agent ensures 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. Loan officers, attorneys, or other people handle many details, but the agent must ensure that they are carried out.

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 region’s transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the client’s particular requirements.

Brokers and agents do the same type of work, but brokers are licensed to manage their own real estate businesses. Agents must work with a broker. They usually 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 agent’s sale of the property. Brokers, as independent businesspeople, often sell real estate owned by others; they also may rent or manage properties for a fee.

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Licensing Requirements
To qualify for a real estate salesperson's license an applicant must be 18 years of age or older, have a high school education or equivalency, complete a 75-hour prelicensure course at a licensed school and pass the license examination. After successfully completing the course and passing the examination the applicant must apply for a license through a sponsoring real estate broker. In addition the Commission must be satisfied as to the applicant's honesty, trustworthiness, character and integrity.

To qualify for a broker's license an applicant must have a high school education or equivalency and must successfully complete 150 hours of prelicensure education. Applicants must first complete a 90-hour general real estate course, and then two 30-hour courses on Agency/Ethics and Office Management and related topics. In addition, applicants must have been continually licensed and employed on a full-time basis as a New Jersey real estate salesperson for the three years immediately preceding application. After completion of all three courses applicants must submit to the Education Qualification Section of the Commission their completed school certificate and a completed Experience Report For Broker Applicant form. Following review and approval, the applicant will be mailed a Certificate of Examination Eligibility, which may be used to make a reservation to take the Broker license examination. An applicant must pass the broker license examination and apply for and request the issuance of a license as a broker or broker-salesperson not later than one year after their successful completion of the broker prelicensure education requirements.

If an applicant has ever been convicted of a crime, or is currently on parole or probation their application for a real estate license may be denied. See N.J.S.A. 45:15-9, 45:15­12.1 and 2A:168A-1 et seq.

If you are a disabled United States Veteran and a citizen of New Jersey, it may be possible to secure waivers of the education and experience requirements for licensure. Please contact the Commission's Education Waiver Section at 609-292-7272 Ext. 50137 for details.

New Jersey does not have reciprocity with any state.
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Work Environment

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, workers spend much of their time away from their desks—showing properties to customers, analyzing properties for sale, meeting with prospective clients, or researching the real estate market.

Agents and brokers often work more than a standard 40-hour week. They usually work evenings and weekends and are usually on call to respond to the needs of clients. Although the hours are long and frequently irregular, most agents and brokers have the freedom to determine their own schedule. They can arrange their work so that they have time off when they want it. Business usually is slower during the winter season.

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Startup Costs
Below is a list of approximate costs to become a salesperson: (all fees may vary according to schools, association dues & fees)

License School
Testing Fee
NJ Real Estate License Fee
Fingerprinting Fee
Realtor® Association Dues
Multiple Listing Membership
Lockbox Key
$
$
$
$
$
$
$
395.00
95.00
160.00
70.25
305.00
200.00
245.00
to $450.00 Depending on the school
One-Time Fee
Initial license term (NJ is 2 years)

One-Time Fee
+/- Depending on the Board chosen (yearly)

+/- Depending on the MLS System (yearly)
+/- Depending on the key system (yearly)

Below is a list of typical costs to associate with a Broker: (not all Brokers charge the same. check with each Broker to compare fees)

Business Cards
Name Badge
Errors & Omissions Insurance
Training
Mentoring
$
$
$
$
$
48.00
28.00
470.00
350.00
---
to $100.00 Varies from Broker to Broker
Varies from Broker to Broker
to $690.00+ Varies from Broker to Broker
+ Varies from Broker to Broker
Varies from Broker to Broker (typically a % of agents first closings)
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Choosing a Broker

One important step (and necessity) in starting your real estate career is the selection of your sponsoring broker. Company philosophies and policies vary, so we suggest that you interview several brokers. Remember, you are interviewing the firm as much as they are interviewing you. Don't hesitate to ask questions. A good way to get the essence of a real estate office is to tour the office, attend a sales meeting and speak to other agents in the office.

With our years of real estate sales and management experience, we felt it might be useful to provide you with some interviewing questions that may be helpful in choosing the broker who’s right for you!

  1. Does the company have a written policy and procedures manual?
  2. How many active agents are in the office/company?
  3. What is the office/company market share of listings?
  4. Does the company use technology?
    1. Do they charge for email?
    2. Do they charge for web page and/or Internet promotion?
    3. Do they charge for Internet referrals? AND How many Internet leads are generated each month?
    4. Does you split change if you accept an Internet lead?
  5. Is the company a member of any referral network? What is the company’s source of corporate clients?
  6. What other services/departments does the company have?
  7. What are the company procedures for:
    1. Mail-outs and postage?
    2. Long distance calls?
    3. Advertising?
    4. Errors and omissions insurance?
    5. Lock boxes and signs?
    6. Franchise fees?
    7. Business cards?
    8. Copy/fax machines?
    9. MLS computer?
  8. What type of training or continuing education is provided?
    1. How often?
    2. What is the cost?
  9. What duties are required of the agents?
    1. Meetings?
    2. Telephone opportunity?
    3. Property tours?
  10. How are the agents compensated?
    1. Initial commission split?
    2. Production goals for increased commission splits?
    3. Incentives?
    4. Referral fees?
    5. Bonuses?
      1. In-House Sale?
      2. Quarterly recognition for production?
      3. Yearly bonuses and recognition?
  11. What is the company policy regarding an agent purchasing or selling his/her own residence or investment properties?
  12. Is the agent an independent contractor or employee?
  13. Does the broker have special vehicle, insurance or dress requirements?
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Do 3 to 5 More Transactions

Three to Five More Transactions a Year or A Better Quality of Life...
The Choice is Yours!

The key is good time management.

Using the Veltri system will save you time! Form example; are you constantly calling the office to see if a fax or letter has arrived? This is huge time waster! If a fax or letter does arrive do you have to go into the office to take action? Not at Veltri! Your faxes, letters and other transactional documents are placed into your transaction management folder by our staff and you are immediately notified they are there. You can take action and email or fax any document to anyone directly from the system. No special email programs or fax machine needed! The best thing is that you can do it anytime. The system is available 24/7 from any computer in the world.

Then system also saves you time by reminding you of tasks that need to be completed.

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