Salary vs. Commission
As a real estate agent, you will be working on commission rather than salary. Each agency is different but many will choose commission rather than salary as your earning potential is much greater. It could take a few months for you to make your first sale and you need to be aware that the closing process will take a minimum of 30 days, and within this time your sale could fall through for a number of reasons.
You should also consider how much time you devote to your career in real estate. Although many consider this job to be a standard 9-5 but this is not entirely correct. You will need to be available on your clients’ schedule to reap the most success, this often means you will be required to work evenings, weekends and holidays.
Getting Certified
To work in real estate sales, property management or a client-related position, you will be required to complete the Certificate IV in Real Estate Practice (CPP41419). Each state has its own requirements of how to become a licensed real estate agent. Kangan Institute offers a comprehensive course delivered under the Victorian Law. In order to work as an Agents’ Representative under the supervision of a licensed Real Estate Agent in Victoria you will be required to have this certification. This course provides an understanding of how the industry operates and develops knowledge of the basic legal principles relating to property sales and property management, along with skills in the completion of various documents required for the sales and leasing of property.
Find an Agency
Once you have obtained your real estate license, you will then be able to buy, sell, lease and manage properties on behalf of an agency. If you haven’t already decided on an agency you would like to work with, now is the time to begin your research and arrange interviews.
What interests you? Residential or commercial property? Where would you like to work - perhaps in a large city or where you currently live? What does each agency require, what training do they provide and what is the commission split? These are just a few of the questions you need to answer before making a decision. The agency you work for will have a major impact on how much money you will make in your new job.
If you have the required drive to make your career successful along with the passion and personality to enjoy it, then the path to a career in real estate is a great choice for you.