Becoming a Real Estate Sales Agent

Again I am going to state that some of us in the real estate industry are:

- not residential selling agents
- do not work long hours
- do not work week ends
- have good remuneration for our efforts

 

Of course there are more roles in the industry - however, I would imagine that most people started out as a Selling Agent or similar? The attrition stats unfortunately only show trends for the first five years of full-time employment - I doubt the above benefits would kick in that soon? As with any industry where one must earn their stripes, I imagine the first five years are the ones with what must feel like the smallest reward for effort, hence the high attrition rate.

Perhaps I'll reword my question - for those that are part of that statistic, why did you walk way?

 

Sometimes the grass isn't greener on the other side. I did the Cert IV in Property (Vic) for $1,250 (I think it was some kind of government initiative back in 2012) and started working for a well known branded company. First week in I knew it wasn't for me and told my boss that I didn't like it. Second week in and I hated it and told my boss that I hated it but would commit to stay until Christmas as it was the busy season (I stayed until March the following year). I didn't like the unethical side of the business - I tended to agree more with what the prospective purchasers were saying about the property as opposed to trying to do the best I could for the vendors. I loved the study part of the certificate and had I hung out for the next 6 months working in real estate I would have been fully licensed.

 

I didn't walk away - I changed what I did.

Whilst most visible REAs work in resi, I did commercial, retail and special premises. I haven't spent much time in sales per say. I have been attached to many A grade assets (plenty of well recognised buildings).

I have seen very little attrition as those who I've worked with have mostly committed to 3-4 year degrees in property economics or law and wouldn't have come out the other end in they were inept (let alone survived in retail leasing).

The stats are skewed for masses who go down the resi path.

Or maybe I still wear my rose coloured glasses.

 

@MrsNixba , I'm in real estate started off in PM then now in Sales. I think many people walk into the industry wanted to make a quick buck. I think this is the biggest reason. It takes time and it is hard, many people see the shiny cars and suits

 

I agree they need to have a knowledge but not as strong as a PM. Would you go to your accountant for financial planning or legal advice?

 

Do the certificate, no need for the license. I operated on a certificate for years and did the license a 3-4 years ago as I started a business, mind you I'm not the licensee in charge my business partner is, so dont 'need it' but did it anyway.
I did a $2000 'express course' with recognition of prior learning as I'd been in the industry for a few years. I think it took 2 full days .
I dont think I learned much at all, or much that was relevant to me and my business anyway.

 

I did r/e sales for 3 months at a well known franchise....did the Sales Rep Cert and all that.

Had visions of extreme filthy rich income and prospective insider knowledge about r/e to buy/sell for myself.

I only lasted that long because in the whole time I worked there, not one sale was made by the entire office!!

Couldn't survive on the retainer of $250 per week or whatever it was.

Plus, after many years of weekend work in the golf industry before this; weekend work has hair on it.

 

My accountant is also a financial planner

 

Yes but trained as one, I am sure he didn't just wake up and go ill put financial planning on my business card.

 

Interesting answers folks. However, most seem to be following the majority of RE's, that end up back on the dole queue because they weren't prepared, or told, what was involved to get, hold and list a property for sale. That's why principals do "jack" and you feed their bank balance. You dont need to be a Full RE to win in this game, you just need to think outside the square. Obtain your RE Cert, (A requirement by law in NSW, where I reside) if you deal in any property transaction, then structure your attack. Remember, a house isn't the only way to earn money, there are faster ways.

 

?????

 

What do you do, may I ask?

 

I was an agent for 7 years..in Sydney..tough market..booms busts flat you name it.. tough going all the way.. if you aren't connected with community, clubs, socially, business etc etc
It becomes tougher..by the minute.
You'll need to like walking, knocking on doors, cold phoning,,
Letter dropping, striking up relationships big time.
I worked or was available 7 days..got my license when the course was truly hard.. unless you have the funds to back you up during the lean commmission times, think twice.
Appearance, car, fresh face, personality to deal with absolute morons..all count. You'll be constantly looking for deals, listings, buyers.. having said all that, it's a roller coaster of a job..highs lows frustrations joy..wonderful!..good luck..go the rego first..try it for as long as it takes for you to decide..
Just remember, when you get the job, you've got 1-3 months to prove yourself..IE..money in the door..no cash no job..bosses are cutthroat, unless you can afford to work comm only...and that's hard..OK if you're well off, but lousy if market's not moving...
Oh, and you'd better learn to bend the truth..it's a game of high stakes..egos, emotions, lies, deceptions, backstabbing..etc.. many people try but can't cope with the uncertainties that plague every moment.
Its not just opening a place and letting people wander thru,
It's all the background work that people fail at...I got out to enter corporate world for a more reliable income.
Anyway, best of luck.

 

Mike, did you prefer bust market (when lots of sellers not many buyers) or boom market (lots of buyers not many sellers, but higher prices)?

What do you do these days?

 

A market that moves on a constant trend...very rare..Boom markets are great if you have the stock..getting it is the problem..there's always a reluctance to sell..what can they buy?..unless your're with a very 'in' agency..where listings walk in the door..you compete with a hundred other sales 'experts' in your area..you can't be shy..you have to promote yourself to the max..pics in local paper..affiliations..charity
time, long hours...sit at a desk when everyones gone home & make calls to buyers/vendors, potentials, and tyrekickers..plenty of them..then do it all again next day.
A bust market means stock is plenty but you then have few buyers who all want a bargain 'cause its a 'buyers market's right?..which means getting the vendor drop price & meet the market..called conditioning..its required & often unsavoury..vendors all think their castle is worth more..so conditioning is almost an art...more a game...for their benefit...ultimately...but twisting their arms is tiring.
Twisting the buyer's arm is the same..'give me another 10k..I'll get it for you..honest'..they walk..plenty of fish in the sea..you'll do deals sitting on the toilet..I did..lol
you'll have a library of stories to tell your kids..divorces are gut wrenching..newly weds, a joy..till they split..often you get so involved..scary..
I'm in Govt..job is secure, mildly interesting, but don't have much stress..like real estate..but I would go back if I was wealthy & setup...I loved meeting new people and creating deals, negotiating & closjng..seeing & experiencing things you'd only dream of..the best & worst of life.
Just get the Cert. Take long service or long holiday & get a start..com only..try it for 6-8 weeks..you'll soon know whether it's right or not.
Cheers

 

He means you can rob banks too..

 

Interesting article on how agents could be outsourced by technology.
http://www.smh.com.au/business/mark...e-on-the-endangered-list-20150911-gjkj9n.html

One of the facts I found interesting was that in Australia only 2% of houses are sold without an agent. However, in the USA 20% of houses are sold without an agent and 30% of houses in Canada are sold without an agent.

 

I'm also considering becoming an agent.

In the process of looking for necessary courses at TAFE.

I thought this article was pretty comprehensive and gave me a good look into becoming an agent. How to Become A Real Estate Agent: The Ultimate Guide

 

I did a diploma of property services (agency management) at Kaplan and it was pretty easy going (for most sections). Its a 12month online course you can do at your own pace