Your Ultimate Guide To Ensure A Smooth Start Of Your Real Estate Career
How to move into an amazing Career in Real Estate
So, you’ve made the decision to start a career in Real Estate, good on you. Whether you have been out of the workforce for some time or simply looking for a career change, Real Estate is an exciting industry and one that you have unlimited opportunities for great job prospects and earning capacity.
But what’s next?
Consider your current skills and capabilities which align with the various roles available and do some research on what jobs are out there.
Do I need to undertake a Real Estate Course? The simple answer is yes.
If you are wanting to become a Real Estate Agent, the Office of Fair Trading requires you (as a minimum) to have completed an approved real estate course.
Most agencies will require you to undertake the minimal qualification – this is a Real Estate Registration Certificate Course. In your Real Estate Registration Certificate Course, you will learn about:
- Your rights and responsibilities as a real estate agent
- How to sell a property correctly
- Understanding zoning laws and regulations
- The importance of continuing education
- Consumer advocacy so you can represent your clients professionally and ethically.
We often see people undertake a Real Estate Agent Licence Course instead of a Registration Certificate Course to gain a competitive edge over their peers.
Validum Institute offers a blended approach to suit all your learning needs.
Ensure you get training from a licensed Registered Training Organisation (RTO) like Validum Institute who is a provider of quality-assured and nationally recognised real estate training and qualifications.
Consider if you prefer to study in a face to face classroom style or online. At Validum Institute, we offer a blended approach to suit all your learning needs so you can study via an interactive online learner portal combined with personal one-on-one trainer and assessor support.
At Validum Institute we offer up to 6 months to complete your entry level Sales/Property Manager Registration Certificate Course. This means you have the flexibility to complete your course at your own pace in your own time. Validum Institute also offers unlimited attempts at assessments ensuring your course success.
Do your Research
A lot depends on where you want to work, what the market is like in that area, and your own personal attributes. Strong salespeople can expect to make six figures and up per year.
Research companies you’d like to work for and join professional groups. Get onto LinkedIn and create your professional profile and join Real Estate Groups – it’s free. It will also help you keep up to date with industry trends and you can follow industry movers and shakers.
You never know, you just may end up working for them one day!
HOW TO BECOME A REAL ESTATE AGENT IN QUEENSL AND: EVERYTHING YOU NEED TO KNOW IN 5 EASY STEPS!
Step 1: Check that You’re Eligible to Become an Agent with the Office of Fair Trading (OFT)
To become a real estate agent, property manager or agency administrator in Queensland the first thing you need to do is obtain your Real Estate Salesperson Registration Certificate.
Most people will have no problems getting their Registration Certificate. However, there are a few personal circumstances that can stand between you and a successful application (age at time of application, criminal history, and insolvency history).
It doesn’t make sense to train without ensuring you’re eligible for the licence, so it’s a good idea to check the Office of Fair Trading (OFT) Queensland requirements first.
Step 2: Study for Your Statement of Attainment
Your Registration Certificate application with the OFT will require that you have studied for and achieved a Statement of Attainment for Units of Competency with a Registered Training Provider (RTO), such as Validum Institute, for a Real Estate Registration Certificate Course.
To obtain your Statement of Attainment you must pass the core 7 units of competency required by the Office of Fair Trading. These units include:
- CPPDSM4008A – Identify legal/ ethical requirements of property sales to complete agency work
- CPPDSM4009B – Interpret legislation to complete work in the property industry
- CPPDSM4010A – Lease property
- CPPDSM4012A – List property for sale
- CPPDSM4015B – Minimise agency and consumer risk
- CPPDSM4022A – Sell and finalise the sale of property by private treaty
- CPPDSM4080A – Work in the real estate industry
Upon completion of your course you will be issued with a Statement of Attainment for the above Units of Competency. When you study with Validum, we help ensure you’ll get through these units by:
- Clustering them into 4 sets of assessment
- Allow you 6 months to complete the course BUT YOU CAN COMPLETE AT YOUR OWN PACE and we’ve seen students complete the course within a week of study.
- Blended approach to training with free on-one-one trainer and assessor support
- Making all assessments open book, and including both theory and practical questions
- Assessments with NO exams
- Employing experienced real estate professionals to train you
- Offer an interactive state of the art online learning platform
- A dedicated student lounge to study with help at your fingertips & free Wi-Fi and parking
Step 3: Apply for You Registration Certificate
A Registration Certificate will allow you to work for a real estate agency under a licensee or real estate principal. Obtaining your Registration Certificate is the first big achievement on your path to a successful real estate career!
The next step in the process is to use this Statement of Attainment in your application for your Registration Certificate through the Office of Fair-Trading Queensland. Fortunately, the application paperwork is only a few pages. There are Registration Certificate application costs involved, however, these are currently:
- An application fee and registration issue fee of $341.90 for 1 year or $580.90 for 3 years
- A criminal history check ($39.35)
Step 4: Find Your Agency
Now that you’re certified, you need to find a job! The good news for those seeking a career within real estate is that, according to the Australian Government’s Job Outlook data, real estate is an industry full of opportunity for both beginners and experienced agents:
Job openings for real estate sales agents are expected to be above average.
Employment for real estate agents rose moderately in the last five years and strongly in the last ten years. Strong industry growth is expected. There is an above average number of full-time jobs in the real estate industry. The unemployment for real estate agents is below average when compared to other jobs.
Step 5: Upskill
With a taste for the industry and a little experience behind you, it won’t be long before you’re discovering which parts of the job you excel at, and where you might like to go next.
At Validum Institute, we offer training not just to newcomers, but also to experienced agents who are looking to level up their industry skills, or perhaps even start their own business.
We can provide you with the training necessary to apply to be certified to:
- Manage residential and holiday resort complexes, apartment complexes, developments of townhouses or villas and tourist facilities with our Resident Letting Agent Licence Course.
- Own & manage a real state agency, act as a principle licensee, and work as an independent contractor with our Real Estate Agent Licence Course.
We can also help you achieve an educational advantage over other candidates with our CPP40307 Certificate IV in Property Services (Real Estate) Course – one of the highest VET qualifications in real estate available in Queensland.
Whether you’re a real estate beginner and are enthusiastic about kick-starting your new career, or you’re an experienced agent who wants to take their skillset to the next level, Validum Institute can train you!
One of the most exciting aspects of the real estate industry is the huge opportunity for career progression – you never stop learning, and we’re here to help you make your education count towards a brighter professional future!
SALES NOT FOR YOU? EVERYTHING YOU NEED TO KNOW ABOUT A CAREER IN PROPERT Y MANAGEMENT
What does a Property Manager do?
Property Managers are responsible for leasing and managing the residential, commercial, industrial and retail property on behalf of property owners. They also do the following:
- Listen well
- Provide excellent customer ser vice
- Interview prospective tenants, does reference checks and selects the best tenant for the owner
- Collect rent
- Arrange repairs
- Market the property
- Negotiate leases and rent reviews
- Advise owners on market rents
- Represent the property owner at tribunal hearings
What skills and training do I need to become a Property Manager?
The professional Property Manager needs excellent communication and people skills, knowledge of all relevant legislation, including building maintenance and town planning, and an understanding of how economic conditions affect the property market.
You will receive on the job training in your role, however given the above requirements, in Queensland, you will need to complete a Real Estate Registration Certificate.
There are additional Property Management Courses available that will keep you up to date after you’ve received your Registration Certificate.
It takes a special type of person to be a professional Property Manager. Your role will be demanding, and you could be expected to work long hours when it’s needed. You will work Saturdays and be on call to your tenants after hours. Your job is to represent owners and their property investments, and you also want a great working relationship with your tenants. It’s often a juggling act, so an enthusiastic, honest approach to your work will ensure you manage the daily stresses.
What job options are there for a Property Manager?
Increasingly, agencies are valuing the importance of having someone who is well versed and educated – not just in Property Management tasks, but in the management of a profitable and well-run Property Management business. Someone who can demonstrate high-level leadership skills and good people management.
Large companies often employ Property Managers to look after the housing needs of their employees. Businesses that have multiple sites employ property managers to look after their retail outlets. You can even work in shopping centres, where you manage retail tenants and the property.
Your job checklist?
You’ve chosen Property Management as your career, so now it’s important to find a job where you can demonstrate your abilities and really succeed. Do your homework online, check out your prospective employer ’s business on social media and see what people have to say about them.
When researching or inter viewing for potential roles, make sure you ask the following questions:
- How large their rental portfolio is, how many people work in the PM division?
- Why are they recruiting?
- Ask the average amount of time a PM stays in the role
- Is there a dedicated mentor to help you on the job?
- What systems do they use?
- Do they plan to offer you any ongoing training or professional development for you?
- What type of office culture do they have? You want a place that is supportive and inclusive and genuinely wants you to succeed.
If you are prepared to put in the hard work, you will enjoy a rewarding career in Property Management. It will provide you with excellent long-term job opportunities and if you are great at your job, the jobs (and rewards) will find you!
INDEPENDENT VS FRANCHISE AGENCIES – WHO SHOULD YOU CHOOSE TO WORK FOR?
When entering the real estate industry, it can be difficult deciding which agency is the best fit for you. Many questions come up during this time, the most common being- should I choose an independent or franchise agency to work for? To help with your decision, we weigh up their pros and cons and what you should know about both types of agencies.
An independent agency is a single office owned and managed by a licensee who, alongside their team, offers all real estate services or specialises in either sales or property management. There are many reasons why real estate professionals choose an independent agency over a franchise agency. Firstly, since an independent is not governed by a franchise policy, you have more flexibility when it comes to branding, marketing, pricing and ser vice standards. This also means an independent may be quicker to adopt new ideas, technology, and tools, giving you more autonomy and room for creativity. As well, unlike the regulated franchise agency, an independent can easily appeal to a niche market by delivering unique pricing or customer ser vice strategies, which gives you the ability to differentiate and win more business. Other reasons many opt to work at an independent are because they’re usually smaller in size, more in tune with the local market, deliver a personalised service, and provide a greater sense of belonging.
However, there are many reasons why real estate professionals choose not to go with an independent real estate agency. An independent usually has less brand recognition than their franchise competitors. This means you do not have the luxury of winning business simply through using the brand’s reputation, presence or buying power. As well, some independents can be slow to grow as they may have limited resources which could, as a result, hinder your career progression. Due to their smaller size, an independent usually does not have specialist divisions, such as administration, marketing or training departments. Such departments can help you with upskilling and having more available time to dedicate to sourcing clients which can increase your ability to achieve your desired results.
When it comes to deciding if an independent agency is right for you, keep in mind that all independents are different. Some have established reputations, and some are start-ups, some focus on community and others focus on marketing, some are forward-thinking whilst others are inflexible and lack resources. Because of this, it’s important that you do your research on each independent agency to determine which one best would suit you.
What You Should Know About the Franchise Real Estate Agency
By contrast, a franchise real estate agency is when one party (the franchisor) grants another party (the franchisee) the right to use its trademark, trade name, systems and processes to market and deliver real estate sales and property management services.
There are many reasons why real estate professionals choose a franchise agency over an independent agency. For starters, a franchise agency has a larger referral network to help source homes, buyers, sellers and renters, which gives you greater potential to win business due to this extra support. Another reason many opt for a franchise agency is because they have a brand behind them. This high level of brand recognition can help you form instant trust with prospects and win more business.
What’s more, a franchise agency usually has greater buying power for marketing and advertising. This means that their website, collateral, signage and other forms of promotion are more visible in the market area. Most franchise groups also put more focus on internal recognition and awards to help keep the group on track and motivated. As a result, many franchise groups offer ongoing training programs and access to mentors to give you the best chance at achieving results and winning awards.
However, there are many reasons why real estate professionals choose not to go with a franchise real estate agency. To begin with, a franchise agency has less flexibility when it comes to branding, marketing, pricing and ser vice standards, which can limit your autonomy and creativity. As well, if the franchise agency belongs to a brand that is considered weak in the market area, it can hinder your chances of winning business. Joining a franchise agency also means abiding by strict policies, procedures and territory restrictions, which may impact on your ability to perform and grow your career.
When it comes to deciding if a franchise agency is right for you, keep in mind that all franchise groups, and stand-alone franchise agencies, are different. Some groups have larger budgets, some have greater brand recognition, some focus more on training and others focus on technology, some are fast-moving whilst others are slow to change. As such, it’s important that you do your research on each franchise group to determine which one would best suit you.
Independent vs Franchise – Which wins?
As you can see, there are many pros and cons to consider when it comes to choosing between an independent and franchise agency.
If, perhaps, you feel you want to be creative in your role or would like mentoring first and foremost , then select an agency that matches that , whether independent or franchise. Don’t be lulled into a false sense of brand recognition or long-time local agency.
But when it comes to choosing the best fit for you, it still pays to do your research. A good place to start is by reviewing agencies’ websites and chatting with industry colleagues about their experiences so you get a greater understanding of individual agencies.
It should be noted that online real estate tools and apps, such as Buzz Sumo, Beacon, Canva, and Coschedule, are also now giving independents greater access to resources and levelling the playing field.
When doing your research consider the cultural- fit for yourself and whether the agency’s values and ethics are aligned to yours. Whether independent or franchise, you should opt for the agency that is progressive, aligned with local markets, has a great reputation as a standalone office, and suits you and your career goals.
6 TIPS FOR SURVIVING YOUR FIRST YEAR IN REAL ESTATE
Starting your new career in real estate might seem like a daunting challenge, but it doesn’t have to be. With such a rewarding career ahead of you, all it takes is a few extra steps to ensure you not just survive but thrive as a real estate professional. Here are six tips for how you can get the most out of your first year in real estate.
Prepare an Ideal Week
When it comes to working in real estate, effective time management is the most important element contributing to your success. Whether you are a sales agent, property manager or administrator, you will be required to plan, prioritise and complete many daily tasks, on top of answering never-ending phone calls and emails.
The best way to manage your time is by preparing what’s called an ‘Ideal Week’. An Ideal Week is a document which identifies tasks and prioritises them in an efficient daily order. This is how you can maximise your productivity and minimise your stress, which both go a long way in helping you succeed.
Build a support network
Having a support network is essential if you want to survive your first year in real estate. Whether it’s through real estate conferences, seminars, and workshops, or connecting with colleagues on LinkedIn or Validum student alumni, these networking opportunities all help build your team of advisors. Forming valuable industry connections with colleagues from all roles and levels is a great way to fill the knowledge and experience gaps you will undoubtedly have when starting your career.
Find a mentor
While it ’s important to build a support network, finding a mentor is how you can take your career to the next level. Attending networking events and connecting with colleagues online are the best ways to find a mentor that’s right for you. A mentor boosts your career, helps you set goals, and holds you accountable. You should look for someone who asks challenging questions, provides constructive criticism, offers useful resources, and willingly shares their expertise. As the most valuable part of your support network, finding a mentor is how you can take your career from good to great in your first year.
Know your marketplace
Once you get started in real estate, you’ll soon discover that knowing your marketplace is the key to succeeding. Since real estate is about living and breathing your market area, you should allocate time in your Ideal Week to stepping outside your office and into your community. Getting to know the best places to wine, dine, shop and play, is just as critical as knowing your area’s latest property data. Conducting this weekly research not only helps you become a market area specialist but ensures you feel more at home in the community you now represent.
Learn about property investment
Whilst understanding real estate is essential, agents often overlook the hidden value of learning about property investment. From the moment you start, you will be making important decisions about your clients’ investments and financial security, so it’s critical you understand their needs and how best to fulfil them. As a result, taking a property investment course can not only help you better understand your clients but help you perform better in your new role and stand out from other candidates.
Continue to upskill
Once you gain your real estate sales Registration Certificate and start your new career, your training should not stop there. As you apply what you’ve studied, you’ll naturally find areas where you excel, where you lack, and where you’re interested in learning more. Surviving your first year, therefore, requires commitment to ongoing training. Upskilling and fine-tuning your existing skills can be done online through institutions like Validum – why not upgrade from your Registration Certificate to a full Real Estate Agent Licence? This is how ongoing training can be part of your Ideal Week to ensure you remain at the top of your game in your first year.
Your first year in real estate might seem challenging, but these six tips will help you not just survive but thrive. A career in this industry can be truly rewarding if you simply take a few extra steps to help you get started.
Wanting to know more about starting a career in Real Estate?
Call Validum Institute TODAY on (07) 3193 5270 for a FREE Consultation to answer all your questions with an industry experienced Course Trainer and Assessor.
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