How to Become a Real Estate Agent
People have always bought and sold houses and often used mediators to make transactions. These were the ancestors of modern real estate agents. In fact, the profession takes its origin from the time of the birth of homeownership.
If you strongly consider becoming a real estate agent, you need to know where to start and what to expect. As the saying goes, “fewer illusions at once – less frustration after.” There are a lot of misconceptions about what real estate agents do and do not do.
Experts from Jooble have gathered all the necessary information about this job so you can make the right decision on your career. A lot of different aspects of the industry are covered under the term real estate agent. Some of them are described below.
How to Get a Job in Estate Field
- You need to be motivated, friendly and approachable.
- You do not need a qualification. Although having a qualification is beneficial but is not necessary. There are plenty of online courses you can work through to get a certificate. This might increase your chances of getting a job among other applicants.
- Start listening to different podcasts that are related to estate agencies.
- Start following a lot of estate agents on social media. Start commenting on their posts.
- Pick a location. Research it. This can be the one you already know. It is a huge plus, mainly because you will see where the properties are. Also, you will understand the prices and trends. Some areas people are keen on and some they would like to avoid.
- Apply to different estate agents. Be persistent, and do not give up until you have got yourself an interview.
- If you are invited to the office for your job interview – dress smartly. Nowadays, it does not have to be a suit and a tie. Make sure you are very smartly presented when you go in because first impressions matter. You must remember one thing: there is no second chance.
- After you get a job, start training. Be ready to jump into the role quickly.
- Work in the office as many days as you can to get experience and build your knowledge.
Most high-street agents have two different departments: sales and letting.
Working in sales involves four main sections:
1) Prospecting and identifying potential customers.
Put fliers into people’s letter boxes with the information about you and the agency you are working for now. Call out clients who have had valuations with your agency before.
If a property has come on the market, call registered people on the database and say: “We have a new property that suits you”.
2) Registering Applicants.
This part involves a lot of listening. Register people and write down what they are looking for.
3) Attending viewings and selling properties.
You will be viewing and showing houses. If people are interested and ready to make an offer on the property, you will contact them and arrange the next meeting.
By and large, you will negotiate between buyers and sellers. This process is the most stressful because one wrong move and the deal is off.
5) Sales progression.
This is a question-answer session between the buyer and the seller. You will be in touch with solicitors so that the clients can know how the sale or purchase of their property is going.
If you want to become a letting agent, it means that you will make an agreement between a landlord and tenant for the rental of a residential property. The potential tenant and the landlord talk to the same person, giving a more personal feel.
If you have just started working as a letting agent, you will need to do the following things:
- you can take new properties on board and speak to landlords;
- you will look at tenants’ applications;
- you can perform viewings and inventories as well as credit checks;
- you can perform paperwork.
Perks of the Job
When you become a real estate agent, you get a company car or a car allowance. Since this job involves a lot of travelling, this is a handy perk. Ironically, some houses can be in the middle of nowhere.
The viewing experience can also be added to the list of good perks. You will have a chance to visit various types of real estate, all different shapes and sizes. And what’s more, every house has a story to tell.
A famous person might have been born in the house you are visiting today, and some infamous person might have been born in the house you are going to see tomorrow.
Another good perk of this job is a sense of satisfaction. Once a sale has been completed, you understand that you have helped people through a significant stage of their life. Also, you will be talking to different people daily.
On the one hand, it might sound scary and tiring, but on the other hand, you can improve your interpersonal skills. And you can “legally” get out of the office.
As long as your performance is excellent, the agency you work for will give you some freedom regarding how you do your work. This also means you do not have a boss watching what you are doing all day.
Finally, real estate agents can make good money. You can earn between £25,000 and £35,000 in your first year, although many agents can make much more.
The Disadvantages of Being a Real Estate Agent
- You will be at work late.
- It is a career where the majority of people fail. According to statistics, 87% of agents in the first three years are out of business.
- It is very easy to get into the industry. You will be surrounded by people who are average or mediocre and whose advice might not be the best.
- It is insecure. There are a lot of people who need security in their lives. That is why nine-to-five jobs are so popular. People know that at the end of the month, they will get their money and can plan a family budget, as well as their future. It is very predictable and easy to manage, unlike when you are not paid for six months.
- It is volatile and unstable. Your success depends on the economy. Back in 2008, during the global financial crisis, UK house prices fell by 20% in 16 months. That resulted in cutting jobs in all industries. A similar situation occurred when the pandemic broke out in 2020.
- Very often, a real estate agent can waste time showing properties. Potential buyers who are trying to find out as much as possible about the property promise to call you back, but they never do this. Also, to find clients, agents often have to call hundreds of people; some of them will agree to the proposed services, and some will politely refuse. But there will also be those who openly demonstrate rudeness and ignorance.
- It is emotionally, physically and mentally stressful. Not everyone can withstand such stress; therefore, real estate agents often experience depression and anxiety.
- Unfortunately, your clients won’t often express words of gratitude to you. They will often call into question your professionalism. It can easily damage your self-esteem, especially if you are vulnerable and struggling to build your confidence.
- A real estate agent is a job that requires you to always be in touch. A switched-off phone is a luxury; every experienced agent clearly understands this.
What Experience Will Help to Become a Real Estate Agent?
If you previously worked as a seller, sales manager or insurance agent, you might learn new things faster. Although, sometimes former teachers can also make excellent real estate agents.
First, you need to work for different estate agencies. This will allow you to learn how another company in the area operates. Such experience is invaluable and will pay off in the future. Later, with the knowledge built, you may be able to start your own business.
The Bottom Line
Real estate agents will always be in demand as long as there is such a thing as real estate. As long as people leave this world, get married, or get divorced, this job will continue to attract more people worldwide.
When considering whether to go into real estate or not, be guided by the principle we propose.
If you are driven only by the desire to make money, this job is not for you. You can do this in another place that will be much more comfortable for you and for your family. Weigh all pros and cons before you enter the world of real estate.
The British Landlords Association is a national landlords association for residential & commercial landlords. Join us today; membership for the year is only £69,95!
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