Many real estate appraisers voluntarily earn professional designations that represent formal recognition of their professional competence and achievements. A number of appraisal organizations have programs that, through a combination of experience, professional education, and examinations, lead to the award of such designations. These professional designations are desirable because requirements for them are more stringent than State standards. Advancement opportunities for agents often take the form of higher commission rates and more and bigger sales, both of which increase compensation. This occurs as agents gain knowledge and expertise and become more efficient in closing a greater number of transactions.
Experienced agents can advance in many large firms to sales or general manager.
Persons who have received their broker's license may open their own offices. Others with experience and training in estimating property value may become real estate appraisers, and people familiar with operating and maintaining rental properties may become property or real estate managers. Agents, brokers, and appraisers who gain general experience in real estate and a thorough knowledge of business conditions and property values in their localities may enter mortgage financing or real estate investment counseling. Job Outlook Employment of real estate agents, brokers, and appraisers is expected to change or grow more slowly than the average for all occupations through the year 2005. However, a large number of job openings will arise due to replacement needs.