Introduction
The market value of the real estate in the US is 173 billion USD, which makes it a very attractive option for a career. Real estate administrative assistants are responsible for catering to the agents in showing and renting apartments to potential clients, handling all the documentation, and tending to other related office work. Let us know about the salaries for real estate administrative assistant and factors that have an impact on salaries in this article.
Salaries for real estate administrative assistant
The salaries are reliant upon their skills and overall performance. On average, a real estate administrative assistant makes about 39,868 USD. This amount varies according to the company they work for and the location. The amount of total salary can begin from 29,000 USD and rise to even 53,000 USD per year. The bonus on their paycheck is decided by their employer if the performance is exceptionally well. Moreover, the highest-paid assistants in real estate are based in Massachusetts, Connecticut, New York, and Minnesota. The tax percentage on their salary is about 22 percent.
The salaries of assistants in the real estate industry per year on a spectrum (in terms of percentile) are as follows:
- The bottom 10th percentile makes about 29,000 USD.
- Those in the 25th percentile make about 34,000 USD.
- Those lying in the 75th percentile make about 46,000 USD.
- The top 90th percentile leasing agents make about 53,000 USD.
Factors that have an impact on salaries of real estate administrative assistant
The paycheck of administrative assistants depends on several elements such as:
- Experience in computer training
- Work experience
- State they are based in
- The company they work for
- Sector/industry
- Size of the housing unit/apartment/condo, etc.
- Location
- Deals they assisted in closing
Salaries in different states
Yearly wages of real estate administrative assistants total up to differing amounts when several states are compared. Below is the list of some of the states showing different salaries:
- 50,278 USD in Massachusetts
- 47,849 USD in Connecticut
- 47,416 USD in Minnesota
- 46,138 USD in New York
- 46,442 USD in Alaska
The above-mentioned states give out the highest salaries than other states. Some of the others on a lower scale are mentioned below.
- 42,777 USD in Oregon
- 39,157 USD in Pennsylvania
- 41,044 USD in Vermont
- 34,094 USD in Florida
- 38,492 USD in Maine
- 31,719 USD in Indiana
- 32,412 USD in Oklahoma
- 32,861 USD in Louisiana
Salaries of real estate administrative assistant by Sector/Industry
With a growing population, hunting for residential and commercial areas has become a need. The skill set and network differ to some extent in several sectors of the leasing industry, and thus the work of assistants. Which then determines their salaries.
Some of the most renowned industries are as follows, along with the average pay scale:
- The retail sector with an average salary of 32,000 USD
- Real estate sector with an average salary of 39,868,494 USD
- Commercial leasing of buildings etc. has an average salary of 51,000 USD
- Equipment leasing sector with an average salary of 32,672 USD
Job duties
Real estate administrative assistants make sure the office work runs smoothly; from catering to the agents in lease terms to assisting with everything they need, such as visitations, documentation, etc. The details of their duties are as follows:
- Make sure visitations to housing units are on time.
- Setting the appointments with clients
- Being available to attend any important phone calls
- Staying on top of all emails, letters, etc.
- Handling all the documentation for the agreements.
- Tend to office-related paperwork
- Handle all the background checks of clients, which include their credit scores, and checks for any illegal activities they may be into.
- Handling all the legal documentation for the agreements.
- Tabulate important information for the agent like, the size and number of rooms at the apartment, etc.
Skills Required
Administrative assistants must be skilled at handling the pressure to assist their agents in a market for real estate that is quite competitive, it all comes down to the efficient performance of both the assistant and the agent to grab the deal.
Some of the skills required are:
Soft skills
The softer skills, related to interpersonal skills are:
- Organizational skills
- Networking and collaborative abilities.
- Friendly attitude and a soft-spoken tone.
- Convincing written expression.
- Punctuality.
- Being efficient at handling the computer
Hard skills
These are performance and execution-related skills such as:
- Ability to commute to different sites.
- Must have the stamina to climb stairs multiple times a day in case the apartment is up the building.
- The ability to work on documentation for long hours.
- The individual must be willing to work on a Sunday as per the need of their agent
Certifications for lease agents
One of the reasons why salary packages for administrative assistants differ is what certifications they hold. This can have a huge impact on bumping up their salary.
They have access to the following certifications, that set them apart from others in the competitive industry:
- Graduate Realtor Institute (GRI); this ensures their knowledge of the field and officially sets them up to step into the real estate market
- Professional Real Estate Certification Program (PREA); this course has several real estate modules that help build credibility
- Take up an Administrative Training Course online or from a reputable institute to polish their skills further
Conclusion
Performing well at catering to the real estate agent as their assistant helps one understand the mechanics of the real estate industry, which currently values 73 billion USD. Moreover, this career path sets them up into being real estate agents themselves in the future if pursued, given they can handle the pressure from a fast-paced working environment.
FAQs
1.Which city pays the highest amount to real estate administrative assistants?
Brooklyn Park, Minnesota currently pays the highest to real estate assistants.
2.What are the names of some companies that hire real estate assistants and pay well?
Keller Williams Realty, Griffin, Exit Right Realty, The Producers Group, and Beacon Hill Staffing Group.
3.Has the salary for real estate administrative assistants increased in 2022?
The rise in the overall salary has been 3 percent, to approximately 39,000 USD from 38,700 USD in 2021.
4.What degree do I need to become a real estate administrative assistant?
You can step in even with a high school level education; however, a bachelor’s degree is preferred.
