How to Become a Real Estate Agent – Step by Step Guide
Real estate is many things: it’s an excellent investment, a key economic driver, and a means of creating both wealth and community.
In fact, if you look closely enough, real estate can be really exciting. There are many fascinating facts about real estate, going from how people feel about living with ghosts, to the most expensive property in the world ($5 billion), to the reason there are no old houses in Japan.
Most people, however, are unsure of what a real estate agent does and how to become a real estate agent.
A real estate career can allow you to communicate with many parties involved in buying and selling, tour amazing properties, and stay on top of the most recent trends in the industry.
In this article, we’ll discuss what do you need to become a real estate agent and the responsibilities of this role.
Table of Content
- What is the Role of a Real Estate Agent?
- Different Types of Real Estate Agents
- Educational Qualification
- Skills and Experience
- Professional Degree
- How to Become a Realtor?
- How to Apply for a Real Estate Job?
- Duties and Responsibility
- Salary and Facilities
- How long does it take to be a real estate agent?
- Is it hard to become a real estate agent?
- Can you make good money as an estate agent?
- What is the highest paying job in real estate?
- Is an estate agent a stressful job?
- Is estate agent a good career?
- How do I establish myself as a real estate agent?
- How do real estate agents get paid in Australia?
- How much money do real estate agents make in Canada?
- How much money does a real estate broker earn?
What is the Role of a Real Estate Agent?
A real estate agent is a qualified individual who organises real estate transactions by connecting buyers and sellers and advocating for them in negotiations.
They are experts who help homebuyers in locating and purchasing a new home or commercial property. They support clients through negotiation processes to earn top money for their property when selling and help them buy and sell homes.
Additionally, they ensure that it is well promoted so that potential customers may find them.
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The process of becoming a real estate agent commonly includes executing multiple roles. A real estate agent’s role includes the following:
1. Checking at and examining properties.
Estate agents are expected to tour and inspect properties, take measurements, and take images to ensure that they fulfil customer needs.
2. Evaluating a property’s value.
To get an estimated value for a property, estate agents may work with the relevant authorities and property house valuation experts.
3. Property price negotiations.
Estate agents may, after proper review, bargain prices with sellers or purchasers to guarantee that their customers receive the greatest deal.
4. Providing promotional items.
In addition to having all the contact information and a description of the property, estate agents may offer marketing banners and boards to display properties that are for sale. In addition, they often promote properties on their website as well.
Do You Need Qualifications to be an Estate Agent?
It’s crucial to gain a strong understanding of the UK real estate market and what an agent performs on a daily basis before attempting to become an estate agent or a rental agent.
Simply said, an estate agent is in charge of marketing, selling, and negotiating the purchases of properties. This can involve negotiating the sale of existing homes for individual sellers or selling newly built homes for a developer.
In addition to managing rental properties, letting agents also manage landlords, tenants, tenancies, and other issues.
In the UK, there are no particular educational requirements or licences needed to work as an estate agent. Some businesses may require that their agents have a specific level of GCSEs (or equivalent), while others may only hire those with graduate degrees.
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How to Become a Real Estate Agent with No Experience?
A beginner real estate agent, is the one who is probably in the process of earning a real estate licence in order to work as a real estate agent.
If you don’t have the experience yet, you can get training, work as a real estate agent’s assistant, and learn the duties of a licenced agent during this procedure.
How to Become a Real Estate Agent?
Dealing with property is a fascinating and profitable aspect of the real estate profession. Real estate firms help clients buy and sell homes by providing crucial financial support, housing area guidance, and other services.
So, what qualifications do you need to be an estate agent? You can find out from the following discussions.
Different Types of Real Estate Agents
It is usually best to hire a real estate agent when purchasing or selling property since they are knowledgeable about the documentation needed to complete a real estate purchase or sale. The different types of real estate agents include the following:
Realtors work with a brokerage firm that hires agents, connects buyers and sellers, advertises the property for a fee, and even looks after your rental property.
When a realtor interacts with a buyer or seller, they are required by law to carry out all the duties listed in the agency agreement.
Brokers are real estate agents who have gone much farther, earning advanced degrees and gaining years of experience.
The criteria to become a broker vary by state but typically involve working as a realtor for a while before completing your education and passing the licencing exam.
A buyer’s agent helps individuals looking to purchase real estate at every stage of the procedure, including:
- Finding homes.
- Checking the property.
- Making proposals or negotiating to price for a property.
- Helping with deal closure.
- Offering suggestions for financing.
- Creating all necessary purchasing documentation.
The opposite of buying agent is a selling agent. These unique real estate agents only work with clients that want to sell their properties.
For the benefit of their client, they will manage every step of selling the property, including:
- Promoting the home.
- Market research to determine property pricing.
- Making offerings to customers.
- Acting as the seller’s representative when negotiating the transaction.
In a single transaction, dual agents represent both the buyer and the seller. However, these real estate brokers might be against the law, as guiding both sides of the deal could lead to conflicts of interest.
Generally speaking, real estate agent qualifications involve:
- You are at least 18 years old.
- You have a GED or high school diploma.
A bachelor’s degree or any other form of documentation of higher education is typically not required. Even though you must pass a licencing exam and doing so is not very difficult.
Some estate agents offer an intermediate apprenticeship as junior estate agents. Here you’ll usually need some GCSEs, usually including English and maths, or equivalent, for an intermediate apprenticeship.
An apprenticeship in real estate will teach you skills that apply to a wide range of industries. With so many clients, properties, leads, transactions, community participation, and marketing activities, you’ll learn to prioritise tasks and stick to deadlines through your organisational skills.
Skills and Experience
- Excellent client service.
- The skill for promoting goods and services.
- The skill to work independently.
- Self-check and attention to detail.
- Determination and intensity.
- Patience and the ability to maintain calmness under pressure.
- The ability to take criticism and perform effectively under stress.
- Have strong verbal communication skills.
- To be skilled at using a computer and the most common software programmes.
Although it is not a requirement for this career, having a degree, foundation degree, or HND in one of the following areas may offer you an advantage in the increasingly competitive job market:
- Studies relating to business.
- Civil and structural engineering.
- Property development and management.
- Urban and land studies.
- Estate management.
The career does not require a postgraduate degree to start, but you can take professional tests once you are working in the position.
You may be able to start in the field as an administrator and work your way up to become an estate agent as you gain experience.
How to Become a Realtor?
To become a realtor, you can follow the steps below:
1. Find the NAR chapter in your county or state and join it.
2. Pay your dues to join the organisation.
3. Take an online Code of Ethics course and pass it.
4. Throughout your career, follow the NAR’s professional conduct guidelines.
5. Repeat the online course every four years to catch up with the updated curriculum and to keep your certification.
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How to Apply for a Real Estate Job?
A real estate agent is a person who helps individuals in the purchase or sale of their home or business property. A real estate agent has the option of focusing as a listing agent or a buyers’ agent.
To find a real state job, you can visit National Career Service. This website is also popular for giving tips on the interview process for jobs.
Duties and Responsibility
Some of the essential duties and responsibilities include the following:
- Value properties.
- Communicate with individuals seeking to rent or buy potentially suitable houses.
- Schedule viewing times and show potential buyers around the houses.
- Request viewer feedback.
- Bargaining with sellers and buyers.
- Create sales leads for conveyancing and mortgages.
- Interact with lawyers, financial advisors, and surveyors by phone, email, or in person.
- Monitor the auction sales.
- Aim to achieve sales goals.
- Update data on computers.
Salary and Facilities
An estate agent’s responsibility is to make a home or property sale easier. They must give the seller and the buyer honest, accurate advice, that is, in terms of needs.
According to talent.com, an average real estate agent makes £40,000 a year, or £20.51 an hour in the UK. Most experienced workers earn up to £75,000 annually, while entry-level positions start at £28,000.
How long does it take to be a real estate agent?
According to Investopedia, you can become a real estate agent in four to six months, depending on where you live.
Is it hard to become a real estate agent?
No. It is easy when compared to other careers with comparable earning possibilities.
Can you make good money as an estate agent?
Yes. But remember, your ability to sell homes is essentially the only source of your revenue.
What is the highest paying job in real estate?
One of the most profitable and well-paying careers in the real estate sector is that of a real estate broker.
Is an estate agent a stressful job?
Even though working as an estate agent can be stressful, it can also be extremely rewarding, especially if you are skilled at selling property.
Is estate agent a good career?
Yes. Building a successful career while working as an estate agent gives you the chance to make money, dependent on how well you do.
How do I establish myself as a real estate agent?
You must finish your educational requirements and pass the real estate examination.
How do real estate agents get paid in Australia?
Australian real estate agents get an average salary of $56,750 annually or $29.10 per hour.
How much money do real estate agents make in Canada?
In Canada, the average real estate agent earns $100,000 per year or $51.28 per hour.
How much money does a real estate broker earn?
The average real estate broker salary in the United Kingdom is £65,000 per year or £33.33 per hour.
In short, when you ask the majority of people, “What do I need to be a real estate agent?” they will typically respond that you must complete educational programmes, pass the real estate exam, submit an application to the state, pay certain fees, and then you will be granted your licence.
Although it’s a good summary, there is much more to becoming a real estate agent. I hope this article has given you a better understanding of how to become a real estate agent.