Gillooly and Associates Realty, LLC. is Serious About Your Success as a Real Estate Broker
Learn more about how you can find success as a Gillooly and Associates Realty, LLC. Sales Associate by contacting Steve Gillooly 919-612-9885.
If you are a dedicated, vibrant, goal-driven, service-oriented entrepreneur who is serious about making real estate brokerage your career, then joining Gillooly and Associates Realty, LLC. is the right choice. Gillooly and Associates Realty, LLC. Sales Associates are supported with access to leading education programs, systems and tools that will provide you and your customers an advantage throughout the real estate process. Here, you will be more than just a real estate broker, you'll be a well-trained real estate professional.
While the majority of the nation is dealing with the struggling economy, the Research Triangle Park and Surrounding Areas economy continues to outperform much of the country.
Applicantion Process on how to become a North Carolina Real Estate Agent
(Information provided from the North Carolina Real Estate Commission Web Site)
Application Process Overview
Any person or business engaging in real estate transactions as an agent for another (including time share transactions) must first obtain a license from the Commission.
The process for obtaining a license by examination is:
- Applicant completes required real estate course or otherwise satisfies prelicense requirements.
- Applicant files application form and fee with Commission.
- Commission determines applicant's eligibility for licensing examination and sends qualified applicants a notice of examination eligibility.
- Applicant contacts testing service to pay examination fee and schedule examination.
Additional Information
The North Carolina Real Estate Manual is available for online purchase.
Real Estate Licensing in North Carolina, which is free of charge and contains the license application, may be ordered online.
The North Carolina Real Estate License Law and Commission Rules (including the Trust Account Guidelines and Comments on the Law and Rules) is available for online purchase.
A list of Commission-approved schools offering real estate prelicensing and postlicensing courses is available (PDF).
An exam study guide to the license law and Commission rules is available (PDF).
North Carolina has reciprocal licensing arrangements with a number of other states. More information on reciprocity.
Application Forms
1. Apply for a broker license by examination online. (NORTH CAROLINA RESIDENTS ONLY)
2. Request application forms to be sent to you via U.S. Mail by sending an email to the Commission at
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. Please state in your email whether you need an application for Broker or an application for Firm. Also include your U.S. Mail address.
Required Reading
The Commission publishes Real Estate Licensing in North Carolina describing the process for obtaining North Carolina real estate licenses. It contains the license application and is required reading for anyone interested in obtaining a North Carolina real estate license. It can be ordered free of charge online and is available in PDF form.
Nature of work as a real estate agent
One of the most complex and significant financial events in peoples' lives is the purchase or sale of a home or investment property. Because of the complexity and importance of this transaction, people typically seek the help of real estate brokers when buying or selling real estate.
Real estate brokers 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 for the purchase of property.
Brokers, as independent businesspeople, often sell real estate owned by others; they also may rent or manage properties for a fee.
When selling property, brokers arrange for title searches to verify ownership and for meetings between buyers and sellers during which they agree to the details of the transactions. In a final meeting, the new owners take possession of the property. Brokers also act as intermediaries in price negotiations between buyers and sellers. They may help to arrange financing from a lender for the prospective buyer, which may make the difference between success and failure in closing a sale. In some cases, brokers assume primary responsibility for finalizing, or closing, sales, but typically this function is done by lenders or lawyers.
Brokers spend a significant amount of time looking for properties to buy or sell. They obtain listings—agreements by owners to place properties for sale with the firm. When listing a property for sale, brokers compare the listed property with similar properties that recently sold, to determine a competitive market price for the property. Following the sale of the property, both the agent who sold it and the broker who obtained the listing receive a portion of the commission. Thus, broker who sell a property that they themselves have listed can increase their commission.
Before showing residential properties to potential buyers, brokers meet with them to get an idea of the type of home the buyers would like, and how much the buyers can afford to spend. They may also ask buyers to sign a loyalty contract, which states that the broker will be the only one to show houses to the buyer. A broker then generates lists of properties for sale, their location and description, and available sources of financing. In some cases, brokers use computers to give buyers a virtual tour of properties that interest them.
Brokers may meet numerous times with prospective buyers to discuss and visit available properties. Brokers identify and emphasize the most pertinent selling details. 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 finding a renter. If negotiation over price becomes necessary, agents must follow their client's instructions thoroughly and may present counteroffers to reach the final sales price.
Once the buyer and seller have signed a contract, the real estate broker must ensure that all terms of the contract are met before the closing date. If the seller agrees to any repairs, the broker ensures they are made. Increasingly, brokers must deal with environmental issues as well, such as advising buyers about lead paint on the walls. In addition, the broker must make sure that any legally mandated or agreed-upon inspections, such as termite and radon inspections, take place. Loan officers, attorneys, and other people handle many details, but the agent must ensure that they are carried out.
Most real estate brokers 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, buying, or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Brokers who sell, buy, or lease industrial properties must know about the region's transportation, utilities, and labor supply. Whatever the type of property, the broker must know how to meet the client's particular requirements.
Real estate brokers often work more than a standard 40-hour week, often working evenings and weekends for the convenience of clients. Although the hours are long and frequently irregular, most agents and brokers have the freedom to determine their own schedule.
Advances in telecommunications and the ability to retrieve data about properties over the Internet allow many real estate brokers 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.
Careers in Real Estate
(The information below was provided from the NAR National Association of Realtors Web Site)
The real estate profession has expanded and offers one of the widest career selections in the business world today. Helping people buy and sell homes, office buildings, industrial property and corporation farmland, property management, land development, mortgage banking, urban planning, real estate counseling, appraisal and research are all aspects of a career in real estate.
Advantages and Rewards of a Career in Real Estate
A career in real estate provides flexibility and freedom to set your own pace. Income directly reflects your efforts, with no limits on what astute, hard-working men and women can earn. Successful people in real estate are goal-oriented, persevering, self-motivated, ambitious and people-oriented. The rewards of a real estate career are a potential for high earnings, status in the community, autonomy, time freedom, helping people, the intellectual challenge and the satisfaction from those accomplishments.
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.
Education for a Career in Real Estate
Colleges and universities now offer a variety of real estate and related courses. At many of these colleges, students can specialize in a program that leads to a bachelor’s degree in real estate. Some universities offer graduate level courses. Contact your local public library for university and real estate college course information and directories.
Professional Requirements for a Career in Real Estate
Entry into the real estate profession takes preparation. As with other professions, licensing is required. Licensing requirements vary from state to state, but all require prospective salespeople and brokers to pass a written exam. For more information on licensing, contact the Association of Real Estate License Law Officials at 334/260-2902 or at their Web site.
Some states allow students to take pre-licensing educational courses accredited by the state licensing agency before they qualify to sit for the exam. In other states, students can take these educational courses within a specified time after being licensed.
In order to obtain a broker’s or sales agent associated license, more than half the states specify special education and/or experience or their equivalents. However, states are upgrading their license laws and prerequisites for both brokers and sales associates at a rapid rate. Current information is available from your local Board of REALTORS® at www.realtor.com or the Real Estate License Commission in the state(s) where you would practice.
Getting Started in Real Estate
Entry into the real estate field depends on education, training and interests. Most people begin as sales trainees in a brokerage firm. Other possibilities include office assistant, listing or rental agent, assistant in a department of a large real estate organization, or in the mortgage division of a bank or savings and loan.
Continuing Education in Real Estate
Formal education is available while working in real estate. The NATIONAL ASSOCIATION OF REALTORS® and its Institutes, Societies and Councils sponsor continuing education programs for members, and award designations for specialty areas of real estate. Continuing education increases knowledge and skills, improving earnings potential and enhancing opportunities for success.
Careers in Residential Brokerage
Helping people buy and sell homes is one of the most important and basic services a real estate agent performs. Agents are experts in the process of buying and selling property, financing, government programs, etc. The real estate agent’s expertise facilitates the transaction, saving clients time, trouble and money. Real estate professionals need to have a thorough knowledge of such areas as real estate law, local economics, fair housing laws, types of financing, mortgages and government programs. Contact the Council of Residential Specialists on the Web or call them at 800/462-8841.
Careers in Commercial Brokerage
Commercial brokers specialize in income-producing properties, such as apartment and office buildings, retail stores and warehouses, shopping centers and industrial parks. To understand and explain why the properties are good investments, commercial brokers need to be aware of the growth possibilities of the area where the property is located, current income tax regulations and purchasing arrangements that give the buyer a greater return on investment. Commercial brokers may also have to arrange financing. Contact the CCIM Institute at 800/621-7027.
Careers in Industrial and Office Brokerage
Industrial and office brokers specialize in the developing, selling or leasing property used for industry or manufacturing. Brokers need to understand different types of industries and determine such variables as transportation, proximity to raw materials, water and power, labor availability and local building, zoning and tax laws. Contact the Society of Industrial and Office REALTORS® at 202/737-1150.
Careers in Farm and Land Brokerage
Land brokers deal in land for farming, and acquisition of rural land by cities for residential, commercial and industrial expansion. Success as a land broker depends on how accurately the income potential of the property can be established. Brokers need a good working knowledge of various factors which determines a farm’s capacity to produce, including agricultural knowledge and information such as market centers and transportation facilities. Contact the REALTORS® Land Institute at 312/329-8482.
Careers in Property Management
The property manager’s primary function is to maintain the property in order to produce the highest possible financial return over the longest period of time. More importantly, they are responsible for protecting the owner’s investment. Managed commercial properties are likely to be office buildings and shopping centers. Residential properties might be apartment buildings, apartment developments, condominiums and groups of homes owned by a single investor. Property managers usually work for real estate firms. However, other opportunities are found in the real estate department of banks and trust companies. For large housing and commercial development, managers are often expected to maintain an office or residence of the premises and work with only one enterprise. When living on-site, property managers can expect to be on call for emergencies at all times, beyond maintaining standard working hours. Contact the Institute of Real Estate Management at 800/837-0706.
Careers in Land Development
Land development is one of the most important and challenging specialties in real estate today. Developers turn land into profitable, marketable developments --residential, commercial or industrial. Site selection is the first decision developers must make. Planning and layout is handled only after the developer determines the need for a project. Before the actual building can begin, developers must first analyze all costs and arrange the financing. Then they contract for the physical structures and supervise construction. Finally, developers promote the finished development to the prospects for whom it was planned.
Real estate is a rewarding career, offering flexibility, freedom and the opportunity to build a secure future for yourself and also help shape the future of your community.
Please contact Steve Gillooly 919-612-9885 if you are interested in beinng a broker for Gillooly and Associates Realty, LLC.
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