Agents and brokers often work more than a standard 40-hour week. In addition, they often work evenings and weekends to suit the convenience of their clients. Employment Real estate agents and brokers held about 422,000 jobs in 1990. Many worked part time, and a significant number were self-employed. Many additional agents and brokers worked on a commission basis, many of them combining their real estate activities with other careers.
Some large firms have several hundred real estate agents operating out of many branch offices.
About one-sixth of all brokers have franchise agreements with national or regional real estate organizations. Under this type of arrangement, similar to many fast-food restaurant operations, the broker pays a fee in exchange for the privilege of using the more widely known name of the parent organization. Although franchised brokers often receive help in training sales people and in running their offices, they bear the ultimate responsibility for the success or failure of the firm. Real estate is sold in all areas, but employment is concentrated in large urban areas and in smaller but rapidly growing communities. Training, Other Qualifications, and Advancement Real estate agents and brokers must be licensed in every State and in the District of Columbia.