Are you looking for a real estate adjacent position because you like the industry but don’t want to work solely on commission? Why not consider working as a leasing agent? This blog will tell you what to expect from the profession and how to become a leasing agent. We’ll also answer questions about licensing and the average salary of a leasing agent.
Related Article: 10 Careers in Real Estate: Choosing the Right Real Estate Career for You
What Does a Leasing Agent Do?
A leasing agent specializes in the rental of properties.
Here are some tasks you might expect to complete as a leasing agent.
- Market rental properties
- Show properties to prospective tenants
- Screen applicants
- Handle lease negotiations
- Manage rental agreements
A leasing agent must have strong communication, organizational, and interpersonal skills. They play a crucial role in maintaining high occupancy rates and ensuring a smooth leasing process.
What is the difference between a leasing agent and a property manager? A leasing agent’s primary focus is to market and rent out available properties. On the other hand, a property manager focuses on the day-to-day operations of rental properties.
Some leasing agents specialize in commercial properties, which requires additional knowledge. Learn how it differs from residential leasing by reading A Guide to Leasing Commercial Property.
Steps to Become a Leasing Agent in the United States
Are you intrigued by the idea of becoming a leasing agent? To become one, you need a specific skill set, knowledge of contracts and leases – and a real estate license.
To be clear, a few states don’t require a leasing agent to have a real estate license. However, having one will make you more marketable because it proves you know about leases, contracts, and state and national laws governing property leasing.
Here are the steps to starting your career as a leasing agent.
1. Meet the requirements to become a leasing agent
There are state-specific requirements for earning a real estate license. Most states require applicants to be at least 18 years old and a high school graduate (or equivalent). Many require that applicants be U.S. citizens or legal aliens, and all require that licensees pass a background check.
Related article: What You Need to Know About Your Real Estate Background Check
2. Enroll in an accredited real estate school
If you are able to meet the basic requirements to be a leasing agent, enroll in a real estate school that offers specific pre-licensing courses for your state. Even though the content is similar from state to state, the length of each state’s course varies. For example, Texas requires a 180-hour pre-license course and a 98-hour post-license course, and New York requires applicants to take a course lasting 77 hours.
If you are currently working full-time, you may be concerned about finding time to complete this educational requirement. However, most want-to-be leasing agents enroll in online school and take courses at their own pace.
3. Schedule and pass the real estate exam
Taking a class doesn’t guarantee that you will earn your real estate license. You must also prove that you learned the required material by passing your state’s real estate licensing exam. Successful examinees spend time studying for the test. Make sure you have top-notch exam prep material to maximize your time spent studying.
4. Earn your real estate license
Completing your pre-licensing coursework and passing the exam are the big lifts required to get your real estate license. You’ll need to complete a few other tasks to finish the licensing process, like registering for an account with the real estate licensing department in your state and completing an application.
5. Get experience as a leasing agent
Networking will help you obtain an entry-level position as a leasing agent. Attend industry events to meet others in the profession. Once you have worked for at least six months in a role, you can earn an additional certification – a Certified Apartment Leasing Professional to help further your career.
Related article: Real Estate Networking: How to Build a Strong Network and Why it Matters
Average Salary for a Leasing Agent in the United States
According to Indeed, the average leasing agent makes $18.20 per hour (as of July 2024). Many also make a commission per lease signed.
FAQs About Becoming a Leasing Agent
1. How do I become a leasing agent with no experience?
Apply to real estate brokerages with property management divisions or property management companies for leasing agent roles. There, you will gain experience and learn about the industry.
Once you have a few years of experience, you can become a broker and earn higher commissions for leasing properties.
2. Do you need a license to be a leasing agent?
Most states require a real estate license to be a leasing agent. Leasing agents must understand contracts and leases – and fair housing laws. You’ll learn that while earning your license.
3. Where do leasing agents make the most money?
Leasing agents who make an hourly salary plus commissions make the most money. Some commissions are graduated, which rewards those who bring in more tenants. Once you have experience, you can earn a broker license and start a property management company to increase your commissions.
4. Do you need a degree to become a leasing agent?
Many leasing agent jobs do not require a degree. However, if one is needed, it may be an associate’s or bachelor’s degree in real estate, business administration, or a related field.
However, leasing agents must obtain a real estate license in many states and take continuing education courses to stay updated on real estate laws and regulations.
Ready to earn your real estate license to work as a leasing agent? The best way to start is to take online pre-licensing coursework with Colibri Real Estate School. Colibri (formerly Real Estate Express) has helped hundreds of thousands earn real estate licenses and start their careers.
Ready to learn more about succeeding in the industry? Build your career with our Agent Blueprints for Success, full of actionable strategies to help you succeed in real estate.
