While fast-paced, a career in real estate is one of the most rewarding careers you could get. Becoming a real estate agent in Australia is an excellent choice, especially with the ever-growing property market.
But not only is real estate mentally rewarding, but it is also financially rewarding, which is why we see a massive influx every year into the industry worldwide.
This article will show you how to go about becoming a real estate agent in Australia so that you can go from novice to top seller in a few months.
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Duties of real estate agents
Real estate agents get to experience the thrill of helping people find and purchase their dream homes. However, real estate agents have certain duties that you must know if you want to start out in the industry.
1. Understand the market
real estate agents must know how the market moves to help them determine prices that both the buyer and seller will be happy with. As a real estate agent, you will compare prices with other regions to establish property value and property sale price.
Working knowledge of the market will also give you an idea of what real estate agent fees are in your area. These real estate fees vary from state to state so knowing what other real estate agents charge in your area is important. You will also get insight into what percentage you will receive in real estate commission.
2. Advertise your services
You have to promote your services via any means available. The real estate industry is quite competitive, so you must figure out your marketing and advertising costs.
Promotion could be via print advertising like brochures, online advertising, social media, newspapers and magazines. Most real estate agents even go for television and radio, but social media is a good tool for a start, especially for local agents.
3. Offer advice to clients
One of the most important skills an agent should have is clear communication. It can be difficult to deal with some buyers, so do your best in ensuring clear communication.
Your third duty as an experienced real estate agent is in an advisory capacity. Your clients will ask you about legal needs, mortgages, property value, comparative prices, expected sale price, market trends, marketing costs, selling costs, and maintenance.
Clients usually compare agents, so you must stand out from the average real estate agent to get more listings. This could mean charging a lesser agent’s commission or offering other perks wherever you can.
As a real estate agent, you need to be firm, knowledgeable, and up to date with changing property prices and market trends. You must be able to predict when a property is worth a higher sale price than what the seller is proposing, and also when the buyer could get the property for less.
This is what makes them trust you. Read information relevant to the industry and consult with other local agents to ensure you give the right advice when asked.
You might also wish to ask for real estate reviews from your clients so you can attract more people to work with you.
4. Understand the paperwork
Another duty of yours is to be knowledgeable on contracts, documents, property appraisals, vendor reports and agreements between parties.
Always remember you are the service provider and bridge between buyer and seller and all top agents are always informed. Real estate agents also have to offer independent advice to clients from time to time.
5. Show listings
Lastly, a real estate agent shows houses to potential buyers and accompanies them on inspections when selling property.
Experienced agents usually know the property’s sale price, auction fees, and any other fixed fee that the potential buyer needs to be aware of.
You must also be ready to show more properties to your buyer if the need arises. This part of the job builds the bond and is usually what seals the sale.
Steps to become a real estate agent in Australia
By now, you must be brimming with interest and want to learn how to start a career in real estate. The good news is real estate agent jobs are open to everyone regardless of class and beliefs.
1. Age/character requirements
You need to be 18 years and above, but if you are less than 18, a job as a secretary in a real estate agency can set you on the path. Character requirements also vary per state and territory.
However, a good 5 to 10 years with no serious criminal record is usually good enough. Being debt-free and having a good credit history is necessary for some regional areas as it shows financial stability.
2. Get the right qualifications
You need to apply with specific qualifications to the government regulatory body or real estate commissions of your state to be able to practice.
The required qualifications are the Certificate of Registration or Agents Representative Certificate from accredited organisations. The office of fair trading has three to seven units of competency to which the organisation you choose must adhere.
Real estate agent qualification requirements in different states of Australia
Here are some state license exam requirements for real estate agents in different states:
The Property Services Training Package (CPP07) is the first step to becoming a real estate agent in Queensland. This package is recognised nationwide, and it contains 19 units that you need to pass to become an experienced agent.
The course and assessment are available at reputable institutions across Australia. Once done, go to the Queensland government website and download the real estate agent application form.
After filling out the application, you can mail it to the office of fair trading or drop it off yourself.
New South Wales
First, ensure you live in the regional area of New South Wales or at most 50 kilometres from the border. Second, you must get Certificate IV in Property Services (CPP40307). After which, you pay dues to the Property Services Compensation Fund.
The process works differently in regional Victoria as you require 12 months of experience as a real estate agent representative within the last three years to qualify. Another requirement to get your license is to get the Certificate IV in Property Services (CPP40307).
Also, note that Victorian authorities require background and record checks. They also ask for copies of your Victorian academic qualifications and identification. However, once you have the above, you can easily apply for the license online.
You become a real estate agent in South Australia by completing 24 units of the Diploma of Property Services (Agency Management – CPP50307). After completing your modules, go to the South Australian government website and apply for your license.
In Western Australia, you must first show proof of financial stability by submitting various checks like credit checks. Next, you must have two years of full-time experience in the real estate business.
Then you can complete your Diploma of Property Services (Agency Management – CPP50307). Finally, you get your license from the Department of Mines, Industry Regulation and Safety website.
For Tasmania, you need a Diploma of Property Services (Agency Management) (CPP50307). Also, two years of full-time experience within the last five years as a property manager or representative is required.
After paying your application fee, you get your license from the Property Agents Board of Tasmania.
Australian Capital Territory
This territory requires a police certificate with your Diploma of Property Services (Agency Management) (CPP50307) to get your license. They also need two years of relevant experience in a real estate institute or agency for you to apply.
Finally, in the northern territory, things are a bit different. First, the public has 14 days to object to your license application.
You also need to complete the Diploma of Property Services (Agency Management) (CPP50307) and allow a probity check by the police. Applications can be via mail, in person or online via the Northern Territory Government website.
3. Apply for jobs at real estate agencies
Ensure you keep your qualifications and your formal identifications handy for your application. One last tip on becoming a real estate agent is to keep researching and applying to be part of a brokerage until you find your footing.
Endeavour to find agencies that fit your likes and interests to make the job enjoyable.
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