Are you thinking about a career in estate agency. Are you looking for a lucrative job opportunity..
What will the Job entail?
As a professional estate agent you will have an important job to do, requiring a specific mix of skills that enables you to successfully coordinate what is, for many, the largest and most expensive purchase they are ever likely to make.
A career in estate agency can be very diverse as there are many areas in which to specialise. Residential estate agents co-ordinate the sale of a home from the initial enquiry by the owner through to its legal completion. This includes the market appraisal, valuation, advertising, showing potential buyers round the property and the negotiation of the sale at the best possible price for the seller.
What are the entry and qualification requirements?
There are no academic entry requirements that are essential to the role making it a career that is relatively easy to break into. Much more important in this industry is individual drive and enthusiasm, good communication and negotiation skills, the ability to manage relationships with customers and to obtain their trust and the ability to achieve targets. A feel for the market is a definite plus as is the ability to fit into a close-knit team within the sales office.
The benchmark qualification in this sector is the Technical Award for the Sale of Residential Property offered by the National Association of Estate Agents (NAEA). This is a Level 3 Vocational Award which provides a basic knowledge and understanding of estate agency practice, property law, residential property construction, defects etc. The Award is aimed at those working in, or aspiring to work in a professional estate agency environment.
In addition, Estate Agents will receive regular training to update their skills and ensure that they are informed of any changes to industry regulations. To progress even further within the industry, it is also possible to study for diplomas and degrees in Residential Estate Agency, Property Management and Real Estate Management.
To be a successful estate agent you will need:
* A wide technical knowledge of your subject
* A feel for the market
* A good understanding of property law, finance, and economics
* An awareness of health and safety issues affecting people and property
* Good local knowledge of land/property values
* Good sales skills
* The ability to consider and analyse market trends
* To be approachable and smartly dressed
* Excellent communication skills, both spoken and written
* Excellent negotiation skills
* To be computer literate
* The ability to inspire confidence in others and work in a team.
What is the best way to qualify
Our fast track training courses ensure that you are up and running very quickly. Successful candidates are through our training in around 2-3 months, dependent upon how well you progress.
What are the rewards and the risks
Estate agents in the UK are part of an industry currently earning fees of £4 billion every year, which makes it one of the most lucrative career options available.
Every High Street up and down the country has at least one estate agency branch and the widespread use of the internet now means that estate agents are able to reach a much wider market and properties can be viewed by potential purchasers from around the country.
One of the most exciting and financially rewarding professions around, a career as a professional estate agent offers flexibility and opportunities to work throughout the UK.
Most qualified professional estate agents work for small independent practices or for large corporate style companies and work on a basic annual salary plus commission bonus system.
As an experienced and qualified residential estate agent your services will be in high demand and you can expect on-target earnings anywhere in the region of £20,000-£40,000 a year, but earnings are seldom capped giving potential for the most successful sales people to increase earnings considerably with further commission based upon the sales of related products and mortgage referrals.
There is a good chance of career progression in this industry to Senior Negotiator level, where you will be given some supervisory experience and tougher targets to hit, Valuations Manager, where you will be responsible for obtaining new instructions from sellers, and branch manager with responsibility for ensuring that the entire branch runs smoothly and achieves all targets. Larger estate agency chains also offer Area Manager roles and even more senior level positions.
A further, very logical and lucrative development would be to add further qualifications as a Mortgage Advisor once you have your Estate Agency Technical Award. The best Mortgage Advisors usually come from an estate agency background, so as there is a massive undersupply of mortgage advisors in the UK at the present time, so your skills will be much sought after.
Huge opportunities are on the horizon, as tighter Government regulation of this sector is planned, which will pave the way for the 'professional estate agent' who can show a minimum level of qualification and competence. Possessing the NAEA Technical Award is set to become the cornerstone of professionalism in the residential estate agency industry of the future.
How do I get started
If you are currently contemplating a career change, or perhaps are curious as to what your skills are worth in the current property services climate, then our team of dedicated Personal Development Advisors is on hand to offer genuine, impartial careers advice for any self-motivated individual looking to make their mark within this exciting and dynamic growth industry.
Estate agents will usually start out as trainees, receiving on-the-job training and working towards approved qualifications.
Find out more about the routes to jobs and supported job-training through our national estate agency clients once you have obtained your qualifications.
Apprenticeships may be available for those under the age of 24. In England these are currently Apprenticeships (level 2) and Advanced Apprenticeships (level 3). To find out more about these, visit www.apprenticeships.org.uk
Apprenticeships may be different in other areas. For further information see Scotland, Wales and Northern Ireland
How can property-careers.com help me
We can teach you all the skills needed to help you to become a high-earning Professional Estate Agent.
We have designed a specific range of products and services aimed at helping you take control and manage your own career and personal development. Not only can we train you, but we also provide, free of charge, a customized job-search where we will carry out an in-depth assessment of your needs, review your CV, and provide tailored job-search advice. We can also provide access to Career Development Loans if required â€" just ask for more information.
Once you have qualified, our objective is to help and advise you in making the right decisions about your next steps and to offer confidential advice about the most appropriate route for you. We can even provide opportunities for direct career placements as soon as you qualify.
So, in a nutshell, property-careers.com can offer you a career development path in a growth industry with excellent future prospects as well as opportunities for work.
Where else could this new career take me
Because the NAEA Technical Award qualification is a portable, foundation qualification it provides a stepping stone to a whole new career path. So, what happens after you have passed your NAEA Technical Award qualification?
- Who would you prefer to work for after passing your qualification.
- Would you like to take a further step to become a Mortgage Advisor.
- Are there management opportunities.
For more information on any of these career options please register your interest with us.
