Want A Real Estate Career in Victoria, What You Need to Know!

Getting into a real estate career in Victoria. Here’s a general guide:

Becoming a real estate agent is a great choice of career path for people with an interest in property and helping others. If you want to begin your job search, you should know exactly what you need to be a real estate agent in terms of industry experience, qualifications and licensing. So, in this article we talk about who real estate agents are and what they do, as well some suggestions on becoming one.

The Indeed Career Guide (August 2023) defines “a real estate agent is a property industry professional who helps clients buy, sell and rent properties. They help clients find properties to rent or buy that match their needs and help clients find tenants or buyers for their properties. They also negotiate with buyers and sellers and prepare contracts finalising their deals. Most real estate agents specialise in either residential or commercial real estate”.

The Indeed guides quotes these as the Common duties:

  • Hosting open houses
  • Accompanying potential buyers and tenants inspecting properties
  • Inspecting rental properties and reporting any damage, necessary repairs and lease violations
  • Promoting available properties and recent sales through brochures and online and print property listings
  • Researching the local property market and using data to appraise new properties and advise clients about current conditions
  • Developing a network of solicitors, financial institutions and tradespeople and promoting their services to clients.

If you need some career advice please contact the team at Validum for a FREE career consultation on the courses and next steps. Call 1800 848 911 or visit www.validum.edu.au

The national average salary of a real estate agent is $120,847 per year, according to Indeed’s salary guide (August 2023). Yearly income can vary depending on a real estate agent’s experience and location. Real estate agents in the following states and territories all earn more than the national average:

  • In Victoria the data says $144,301 per year (this would include a salary plus commissions). The Average Salary though is approx. $78,000 per annum.

In Victoria, you need to do some particular training to become an agent. You must do a course like the Agents Representative course delivered by an Registered Training Organization (RTO) approved by the state government. Validum Institute Real Estate Training RTO Number 41224 delivers The CPP41419 Certificate IV in Real Estate Practice must be completed to be a real estate agent in Victoria and this is the minimum qualification required.

Once you have done this qualification you must be registered with the Victorian Government or the Consumer Affairs Victoria. There are some eligibility requirements like working at least one year as an Aents Representative at any time during the last three years immediately before applying for the licence. You are eligible to apply for an estate agent’s licence if you have previously held a Victorian estate agent’s licence within the last five years. There are other avenues as well such as mutual recognition but you must hold a current equivalent interstate or New Zealand estate agent’s licence. You may be eligible to apply for a Victorian estate agent’s licence if you hold or have previously held an equivalent licence overseas.

The basic pre-requisites are you must be over 18 years of age, or as an individual or as a director or officer of a company, currently disqualified from holding an estate agent’s licence (or equivalent) anywhere in Australia or elsewhere, or the subject of an order by any regulatory body disqualifying you or the company from acting as an estate agent or equivalent. Be aware that if you are currently insolvent under administration (bankrupt, debt agreements under Part IX or Part X) within the last 10 years, you have been convicted or found guilty of a disqualifying offence involving fraud, dishonesty, drug trafficking or violence punishable by 3 months or more in prison. Note also if you have ever had a claim admitted against you from the Victorian Property Fund or Estate Agents’ Guarantee Fund.

You can visit the Consumer Affairs Victoria (CAV) Website for more information on this if in doubt (click link).

If you need some career advice please contact the team at Validum for a FREE career consultation on the courses and next steps. Call 1800 848 911 or visit www.validum.edu.au

How can you make a name for yourself as a licenced estate agent in a highly competitive market?

Tips according to  RT Edgar one of Victoria’s Premier Real Estate Agency’s building a strong network of real estate professionals, clients, and other industry leaders. Active promotion of real estate services through marketing and social media. Providing excellent customer service that will make clients happy and more likely to recommend you to others.

Firstly, it is important to build a strong network of contacts and relationships with real estate professionals, clients, and other industry leaders. This can be done through attending real estate events, being active on social media, and networking.

Secondly, agents benefit from actively promoting their services through personal marketing and self-promotion on social media. This will help potential clients learn about you, your differentiation in the market and what you can offer them.

Finally, agents should always strive to provide excellent customer service. This will ensure that clients are happy with the services they receive and are more likely to recommend you to their friends and family.

The real estate industry is a competitive but lucrative field. With the right qualifications and experience, you can become a successful Real Estate Agent.

How can you Find a Job – Once you have obtained your license, you can start looking for job opportunities in real estate agencies in Victoria. You can also consider starting your own agency, but keep in mind that this requires additional steps such as registering your business and obtaining relevant permits.

Join a Professional Association: Consider joining a professional association such as the Real Estate Institute of Victoria (REIV). These associations offer networking opportunities, professional development resources, and support to help you succeed in your real estate career.

If you need some career advice please contact the team at Validum for a FREE career consultation on the courses and next steps. Call 1800 848 911 or visit www.validum.edu.au

Build a Strong Reputation: Reputation is crucial in the real estate industry. Focus on providing excellent service to your clients, building relationships, and maintaining a positive reputation within the community. Word-of-mouth referrals can be a powerful source of new business in real estate.

Remember that becoming successful in real estate takes time, effort, and dedication. It’s important to stay motivated, continuously learn, and adapt to changes in the market to thrive in this competitive industry.

After you have completed your course you may want to consider A Real Estate Cover Letter attached to your resume/CV.

Click on the link for two examples and some great tips from the recruiting experts.

Writing a resume can be quite challenging as well so here is a great link to click on to get started with some templates and great tips!

What qualities make someone a successful real estate agent?

Real estate agents are usually confident people who enjoy being around and helping others. They enjoy talking to clients and getting to know their likes and dislikes, their needs and their motivations. Their persistence and empathy helps them match buyers and tenants with the right properties.

Here is a great link and list of personality types below.

However, If you need some career advice please contact the team at Validum for a FREE career consultation on the courses and next steps. Call 1800 848 911 or visit www.validum.edu.au

Personality Types

Good luck with your research, we look forward to working with you to achieve your real estate goals and dreams, sincerely Team Validum.

Useful Links and References used in this Blog:

  1. https://au.indeed.com/career-advice/finding-a-job/how-to-become-a-real-estate-agent
  2. https://au.indeed.com/career-advice/resumes-cover-letters/real-estate-agent-cover-letter-examples
  3. https://au.indeed.com/career-advice/resumes-cover-letters/resume-real-estate-agent
  4. https://au.indeed.com/career-advice/finding-a-job/16-personality-types
  5. https://www.rtedgar.com/news/step-step-guide-getting-real-estate-industry-victoria/
  6. https://www.consumer.vic.gov.au/licensing-and-registration/estate-agents/licensing/apply-for-a-licence/individual
  7. https://reiv.com.au/