How to become a Real Estate Agent
Property is of the largest industries in Australia. With most Australians looking to own their own home and climb up the property ladder, working in real estate and selling properties is a big deal. If you’re thought of becoming a real estate agent, there is quite a bit involved, so check out this step-by-step guide to make sure you complete all the necessary steps to become a licenced real estate agent in Australia.
Step 1: Get you real estate licence
In order to obtain your license, you will need to complete an accredited course. These courses offer education and training on the ins and outs of real estate law and practice. This can be done through a university or TAFE program, or more conveniently, online with an approved provider. Once you’ve completed the coursework and passed the final exam, you can apply for your licence with your local state or territory.
Step 2: Get some work experience
Depending on where you live and where you want to work, you’ll want to find a local agency to work for. By working at an existing business, you will gain valuable insight into how best to serve clients as well as build relationships with other agents who can help guide your career forward. It’s important that you make sure any agency you apply to has a good reputation and offers competitive wages and benefits packages before signing on with them.
Step 3: Set up your own real estate business
Now what you have some experience and the right licence, you can now start your own business. The first thing to do is confirm your business name and register for an ABN. From there, you’ll need to start promoting your services online and on social media. If you need some assistance in getting your business setup, then Urban X is a popular platform for managing all the back office of your business. Urban X works alongside real estate agents to provide all the brand and marketing collateral, training and coaching, software and IT functions
Step 4: Find clients and properties
The next step is finding clients as a real estate agent in Australia. This means seeking out clients and property listings from your local area. To get started, you’ll want to reach out to your network and local contacts to see if anyone is interested in selling. Many agents will hit the footpaths as well, door knocking, dropping off flyers and drumming up interest. Doing free appraisals, or running campaigns online, are a good way to get your first few customers through the door. To confirm your target market you can take this quick target market quiz to find the right clientele to focus on.
Step 5: Pay your bills
As a real estate agent, you will have staff, bills and commissions to pay. Keeping on top of this can be challenging. With a tool like Thriday, you can manage all your payments in one place. Thriday allows you to transfer funds between your own bank accounts*, pay bills via BPAY, send money to suppliers, and even pay all your invoices automatically. Thriday will then automatically calculate all your tax, eligible deductions, and cashflow projections to help you understand your expected financial position. Thriday is a game changer any real estate business.
Becoming a qualified real estate agent can be a lucrative career. If done properly it is highly rewarding both professionally and financially. Over time, as you build your network of clients, you’ll find many come back to you when looking to sell, so with patience and hard work, you too can become part of this exciting industry.