The real estate industry is quite a good field for continuous professional development and growth. If you want to become a real estate agent, there is a very straightforward path to take. Hence, here’s how to become a professional real estate agent.
#1 Be Realistic About Your Career Path
First of all, you need to be realistic about your career path and understand what you will need to do to become a real estate agent. It will take you some time, money, and effort to become a real estate agent and then even more time to find your first clients and start earning money. However, if you are truly determined to become a successful real estate agent, then you will definitely be able to achieve your goal eventually.
For starters, you will need to spend some time attending courses, studying for the licensing exam, and then taking the exam. If this career is your main focus, then you will tackle this learning process quickly. However, if you are pursuing it as a side job for now before you can fully switch your profession, it may take more time to become a real estate agent.
You should also understand what it means to be a real estate agent. In most cases, real estate agents specialize either in residential or commercial real estate and perform a number of activities, including:
- Hosting open houses for potential buyers and tenants.
- Inspecting properties to report damages, recommend repairs, and identify lease violations. Accompanying potential buyers and tenants when they are inspecting the properties.
- Promoting properties online and offline. Networking to find more potential buyers and tenants.
- Researching the real estate market to plan your strategy and give better advice to potential buyers and tenants.
The average yearly salary of a real estate agent can vary by state, but it is generally quite high. This is why the real estate industry is such an appealing field to work in for many professionals. Whether you want to start a career in real estate or switch from a different profession, there is a straightforward path for you to take.
#2 Research the Real Estate Agent Requirements
There is a number of requirements you will need to meet to become a real estate agent. These requirements can vary slightly by state, but overall, they are the same for anyone who wants to work in the real estate industry as an agent:
- You have to be at least 18 years old. If you are younger than that, you can work as a receptionist or in another position in the real estate industry to start getting experience.
- You need to be of good character. What this means can vary by state, but generally, you shouldn’t have any serious criminal offences on your record in the last 5-10 years.
- You might also have to be financially stable (required by some states). You should have a record that is clear of bankruptcy or debt agreements as well as a good credit history.
#3 Study and Get Your Qualifications
Once you know that you meet the minimum requirements for becoming a real estate agent, you will need to start studying and getting your qualifications and licensing. You will need to enroll in a special course to get acquainted with the real estate industry and then pass the exam that will give you the proper licensing to work as a real estate agent.
Make sure that you enroll in a course offered by a registered training organization such as TAFE. The organization needs to be recognized on the national level so that you can work anywhere in the country. You can either choose an offline or an online course depending on what’s more comfortable for you.
#4 Build Your Work Experience in Real Estate
As mentioned earlier, you can start getting experience in real estate even before you turn 18 by working as a receptionist or in another entry-level position. You will need to have 1-2 years of full-time work experience in the real estate industry before you can apply to get your real estate agent license.
If you are confused about this, you can hire an expert writer from the writing services review site Best Writers Online to help you do more research end decide how you will get this experience. You can work as an agent’s representative, a property manager or representative, or an assistant agent in real estate, sales, or leasing.
You can also look up ways a real estate agent can maximise their productivity.
#5 Get Insurance for Your Real Estate Work
The next step is to get professional indemnity insurance that will allow you to work in a more secure setup. Essentially, this insurance protects real estate agents from financial loss from lawsuits lodged against them. It will be very useful in case a client attempts to slander your good name.
In some states, you are actually required to have professional indemnity insurance to be able to work as a real estate agent (more specifically, in Tasmania and New South Wales). You can also get other types of insurance (e.g. personal accident and sickness coverage). Freelancing real estate agents will need to have business cover, including public liability insurance and commercial property insurance.
#6 Obtain Your License to Become a Real Estate Agent
The next step is one of the most exciting ones because this is when you can obtain your license or registration to become a real estate agent. The requirements vary by state, but qualifications from a registered training organization are mandatory.
In addition to that, you will also need to submit your identification documents (birth certificate or passport) to your local state government offline or online. You will need to pay an annual fee to maintain your license. If you decide to move to a different state, you will need to apply for a license in that state to be able to work there.
#7 Start Applying to Jobs and Networking
Finally, you can start applying for jobs and networking. If you already had a position in a real estate agency (e.g. as an agent’s representative), you can continue working there and get promoted to the real estate agent position. Alternatively, you can look for a different agency or become a freelancer.
Even after acquiring your license and getting your first clients, you should continue improving as a specialist in your field. Join a professional organization and participate in its events and initiatives. Network and connect with other people. Stay up to date with the latest industry news.
All in all, it will take some time for you to become a real estate agent, but it will definitely be worth it in the end. Follow the steps explained in this article to begin your journey and start studying to become a real estate agent.