Being a real estate agent is a demanding profession, but one that can become very profitable and offer great personal satisfaction. Anyone can become one, it being understood that you need to have excellent sales skills and management of interpersonal relationships. This article will give you an in-depth overview, as much as possible, of what it takes to be successful as a real estate agent. Read on to learn more.
Steps
Part 1 of 4: The Necessary Requirements
Step 1. Find out about the requirements to become a real estate agent
It is in fact necessary:
- Have a high school diploma or a three-year regional certificate from a vocational school.
- Attend a habilitation course.
- Pass the Chamber of Commerce exam.
Step 2. Think about whether or not to get a degree
It is not necessary to be a college graduate to be a real estate agent, but it may be advisable. In fact, more and more people are in possession of a university degree. Having a degree is a plus point on the resume and graduates may have more career opportunities.
- There are degree courses designed specifically for real estate agents, such as the one offered by the Rome Real Estate Exchange.
- It is important to have basic economic, financial, marketing and legal knowledge. To be successful in this field, it is important to get a clear idea of what you will be facing.
Step 3. Take a course offered by a recognized Training Organization
Courses can traditionally take place in the classroom or be held entirely online.
- Take your preparation seriously! You will have to pass an exam based on what you have studied, so it is important to approach the study with seriousness and commitment.
- The duration of the course varies according to the reference region and can vary from a minimum of 80 to a maximum of 200 hours.
Step 4. Make sure you really want to do this profession
You will need to spend every day in contact with customers and strive to meet their needs. Even working for an agency, you will be fully self-employed, with all the risks and benefits that this entails. Are you ready to start your own business?
- The real estate market offers unlimited earning potential. This means you can make a lot of money if you work hard, or make little money if you work less. Working hours are very flexible, albeit often irregular. Furthermore, we must not forget the personal satisfaction of doing your job well and making a difference for your customers.
- It is not a hobby. A hobby can be put aside and resumed at any time. To be active in the real estate market, however, you will have to constantly take care of maintaining your business contacts and be 100% committed. Are you sure you can do it?
Step 5. Save some money
When you are starting a professional activity, the road is always uphill. In a job that relies on the percentage of contracts concluded, it might be wise to set aside something for emergencies. It is important to have some savings, to always be able to face the periods with less work.
In general, the first few months will serve you to create your own personal clientele and to get an idea of the market and your field of action. It is a necessary evil that any real estate agent faces
Part 2 of 4: Pass the Exam
Step 1. Sign up for the exam
After attending the preparation course, you will have to pass the exam in the Chamber of Commerce of your province of residence. In order to register, you must have a certificate of attendance for the preparation course and a three-year regional diploma / certificate.
The exam consists of a written and an oral part
Step 2. Study
Even if it's been a while since you last faced an exam, try to put in as much effort as possible. Focus on what you have learned in the preparatory course hours.
If you know someone who has taken this type of exam before, try asking them for advice. How was it? What topics did the questions focus on? How long does it last?
Step 3. Pass the exam
Hurray! If you have prepared well, you can certainly pass the exam in your region of residence. You are almost ready to work!
After passing the exam, you will become a real estate agent. You can register with the REA (Economic Administrative Repertoire) as a sole proprietorship or with the Business Register if you wish to open your own company
Part 3 of 4: Starting Your Career
Step 1. Get to know your market "before you start"
The real estate market is different from the stock market: yes, it is divided into sales and purchases, but that's not all. "Your market" is not a simple term to make you feel called into question. The market will be "yours" in the literal sense. Each city has its own characteristics. Do a reconnaissance of the area where you plan to work and observe the other agencies. Try to understand how it works.
Imagine a city that is home to a university. You will most likely have to deal with many young renters, rents ranging from one year to six months and years starting in September. The situation is very different in a mountain city! Each market is unique and knowing firsthand how it works is the best way to start off on the right foot
Step 2. If you want to get hired by an agency, try to introduce yourself in the right way
The real estate agent is an entrepreneur. You will need a strong personality and good sales skills. An agency will assess whether you are aware of what the craft requires. Too many people enter this profession without really having a clear idea of the necessary requirements.
Carefully review the location where you intend to work and connect with local agencies and other real estate agents. What are their goals? What are they trying to do? You have to try to be exactly the person they need. Try to get an idea of the dynamics within agencies. Ask other agents what they think about their office and the agency they work for or their bosses
Step 3. Choose your agency carefully
Typically, a real estate agency won't deny you the chance to do a trial or two. While real estate is a relatively independent profession, working for the right agency remains essential. It still represents the company you work for (unless you open one of your own). Think of the agency you work for as a dress that you will have to wear for the rest of your working life. It might as well be comfortable and fit you well.
-
It is best to choose an established company with a good reputation. Communication in your field of work is very important and will be easier to achieve by working for a reputable agency.
It does not mean that you have to work for a large company, which may also be withholding higher percentages from your commissions. Just because a company operates internationally doesn't mean you should work for it. A local real estate agency is fine, if their reputation lives up to your expectations
- Think about the type of clients a real estate agency attracts. If you choose to work in the neighborhood of a large city full of public housing, an agency that specializes in the sale of luxury villas is certainly not for you. Do some research on their job demographics.
-
If possible, try to work for an available employer. At first you will have millions of questions, and if your boss doesn't have the time to help you find the answers, you could be wasting your working time, losing focus and making money. And maybe finding yourself in trouble.
Become a Real Estate Agent Step 14
Step 4. Find someone to explain the job to you
Generally a real estate agent works for coordinated and continuous collaboration. Permanent contracts are quite rare. You will be able to receive a reimbursement of expenses and you will earn on commission. A more experienced colleague, who gives you some advice on how to move, will be really helpful in setting realistic expectations.
Even if the real estate agency will not offer you a lasting job, working in a context of experienced people and from whom it is possible to learn is essential. The real estate market is not easy to understand and having someone show you how to behave can be really crucial
Step 5. Use your personal knowledge
At first, while it may seem strange to you, it will be very useful to use friends and acquaintances to find out new information about who is moving and who is planning to buy or rent a new home.
It might seem silly to you, but if you're planning on setting up your own business, expanding your knowledge and building your own network of potential customers is essential. Asking never hurts
Step 6. Learn to market yourself if you want to start your own business
You will have to prepare business cards, put advertisements in newspapers and magazines, distribute billboards, create a website and everything possible to build a credible image for you and your company.
In this way you can create a clientele even outside of your personal knowledge. After a while you will start seeing results and can refine your market strategies
Part 4 of 4: Become the Best
Step 1. Work with both buyers and sellers
In the real estate market, there are two types of people: sellers and buyers. To maximize your clientele, you will need to work with both. It is a very simple market logic. If the agency you work for takes care of both aspects, even better: higher commissions await you!
You may have a preference, but it's important to be flexible and learn how to manage sales and purchases. The more homes you sell, the more information you have to offer your buyers - and vice versa
Step 2. Be trustworthy
You are no longer just an aspiring real estate agent. Your name and face represent not only yourself, but the agency you work for. If you are not reliable, you will quickly lose your customers. Always give your best. In the long run, you will pay off.
One of the main characteristics of the real estate market is that, in all likelihood, you won't have the same customer twice. You will be able to gain new customers with word of mouth: a satisfied customer will have more chances to recommend you to a friend who is about to move. You will have to be very good at doing your job, not just to please your customer, but to impress them and push them to advertise you
Step 3. You could join one of the professional associations of real estate agents
In Italy there are several, such as FIAIP (Italian Federation of Real Estate Agents), AIR Italia (United Real Estate Agents) and ANAMA (National Association of Agents and Business Mediators). You will be better protected from a legal point of view and you will know who to contact in case of problems. Furthermore, through an affiliation, you will contribute to strengthening your professionalism and your reliability.
Step 4. Learn to convince customers
A real estate agent is primarily a seller. The ability to notice the doubts and indecisions of your customers will be essential to conclude a greater number of contracts. Listen carefully to their needs and try to propose concrete solutions as close as possible to their desires.
Being a real estate agent is a flexible profession. You will have your own business hours, but you will need to be available to meet customer schedules
Step 5. Say goodbye to evenings and weekends
Your customers, in most cases, have office hours. Often you will need to be available when they stop working. You will need to be on call 24 hours a week, especially at the beginning. A customer might just call you on your birthday, because he wants to see a house in the next few hours. You will need to be ready to leave what you are doing right away and go to work.
Some agencies are also open on Sunday mornings. You will often be working on weekends. The more customers you have, the more often it will happen. Succeeding means working on their availability, not when you'd prefer
Step 6. Expand your sphere of influence
After contacting friends, acquaintances, friends of friends and distant relatives, you will need to advertise in your city. Remember, good marketing will lead you to success.
If you plan to focus in a city or neighborhood, it may be advisable to be present at local businesses. Make yourself known and spread a trustworthy and successful image of yourself. New customers will arrive sooner or later
Step 7. Open your agency
If after a few years of apprenticeship you think you are ready to open your private agency, why not give it a try? To open your own business, you will need a license.
Remember that it is always advisable to get some experience before trying to set up on your own. Start working at other agencies to understand how the job works and prepare yourself
Advice
- Remember that the real estate agent is an entrepreneur. If you want a steady job, this job is not for you. You have to be ready to make a lot of sacrifices, but in the end you may be rewarded and reach the financial and personal goals you set for yourself.
- Remember that if you work as an employee you will be paid in commissions, plus a fixed monthly fee. If you have your own agency, however, you will certainly have higher costs, but the profits will be entirely yours.
- Learn how to manage customers. To do this job you will need to have excellent interpersonal skills. Being shy is impossible.
