Kangan Institute Blog

How to Start your Career in Real Estate

Starting a career in real estate can be an exciting, extremely rewarding and also a challenging career choice. For those who are entering the industry, you will be required to work in residential sales, property management or an administration role.

To ensure you strive in this industry, it is really important to get the right start and have an eagerness to continue to develop and enhance your skills with the best training possible. While this can be a great career that is challenging, flexible and exciting, it is not for everyone. Here’s what you need to know before you start your career in real estate.

Getting Licensed?

Firstly, to work in real estate sales, property management or a client-related position, you are required to obtain a Certificate of Registration. Every state has its own set of requirements to become a licensed real estate agent. These particular courses meet the educational requirements needed to work in the industry. Kangan Institute offers an exhaustive 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.

What’s Next?

If you’re planning the next step in your Real Estate career and maybe working towards running your own real estate agency or operate as a licensed real estate agent, then Kangan Institute’s Certificate IV in Real Estate Practice (CPP41419) is your first step into making this dream your reality. Upon successfully completing your studies, this will provide you with the minimum education requirements needed to apply for a Real Estate License. This course will not only enhance your industry knowledge and skill level, but also provide you with the certification needed to run your own business.

Make Use of Resources

There is an abundance of books and Internet tools such as webinars available from top agents that help to inspire and teach. This is a fast paced industry and tools of the trade are forever changing rapidly. One minute you are expected to use a laptop and the next you will be showing homes on tablets. Multiple listing services systems are changing quickly as well so you need to be able to adapt easily to new software and websites. Also, and most importantly, laws are changing and you will be required to stay up to date with how they impact you and your clients.

Know Your Surrounding Area

It is never too early to do your research and start getting familiar with your surroundings and potential areas of work. You should make an effort to visit open houses and check out the current prices in your market. Here is a list of some of the things you should consider:

  • Learn the inventory of the homes in your chosen market.
  • Begin to compile a list of school, parks, public transports and activities in the area.
  • Try and get involved with town meetings and possibly volunteer within the community. This is a great way to hear information and may also be able to expand your contact database.
  • Although you are selling houses, you must remember you are also selling neighbourhoods, so begin to source together marketing material. The Chamber of Commerce might be able to provide some useful resources.

Build Your Database

When working in real estate is is never too early to start compiling a list of people that you will reach out to and let them know that you’re a new real estate agent. When collecting information for your database make sure to include as many details as possible such as full name, email, phone number, occupation and list of family members.

Research the Best Company For You

The most vital piece to have in place before you begin your career is to know what you are looking for and what you expect from your career. When searching, you should look up the company you are looking to work for a see if there are any online resources available or if they offer any classes or mentorships to new agents. It is important to make sure the company is a good fit with your personality, office politics can happen anywhere so make sure you are comfortable in the new environment. Remember that during your interview, you are interviewing them as well. When it comes to real estate you are also in business for yourself and you want to find yourself a great partner. The right company will be the partner that will help you achieve your goals.

Network with Real Estate Professionals

A great way to get to know the industry is to speak with several real estate agents to understand the pros and cons of the job. Try to interview a variety of agents at different stages in their career - established agents and ones just starting out. Here are some of the questions you should consider asking:

  • What do they enjoy and dislike about their job?
  • What advice would they give to new agents?
  • What are their daily and weekly routines?
  • What are the common pitfalls when getting started?
  • What do they consider the most important quality in a good agent?

Once you have compiled a list of all the responses you’ve received, write another list of common factors that were mentioned and come to an informed conclusion.

Real estate is an excellent career choice and can be seriously rewarding if you are self motivated, hard working, honest and enjoy networking and helping people.

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