Becoming a real estate agent is an excellent career path.
Real estate agents sell, lease, manage and buy properties on behalf of clients. Along with this main focus, real estate agents also offer advice to their clients, whether they be buying, selling, renting or owning, to guide them in their journey to find a property that suits them and their needs best.
Getting into Real Estate: the Industry
The Australian real estate industry is a dynamic, fluid and complex environment. Characterised by a range of external factors, the industry is affected by fluctuations in the economy, interest rates, demographics and unemployment rates. All of these determinants influence supply and demand and consumer confidence. A career in real estate involves understanding the nuances of the industry and traverse this multi-aspect and constantly shifting landscape with confidence and authority on behalf of a client.
Real Estate Careers
A successful agent is goal-focused, performance driven, committed, autonomous and people-oriented. Qualified agents operate across a range of roles and speciality areas. Within the scope of real estate, agents can specialise in:
A Career in Real Estate: Daily Tasks and Duties
Real estate agents undertake a variety of tasks day-to-day. These can include:
Top 5 Skills
Top 5 Knowledge Areas
Administration & Management
Customer & Personal Service
Economics & Accounting
Every sector requires a solid and comprehensive understanding of property and a depth of knowledge regarding all laws and legislations that apply to real estate agents. Agents legally act on behalf of their clients, a role which carries a weighty responsibility. A large part of an agent’s job is drawing up contracts, informing clients of their legal obligations and rights, and overseeing large financial transactions. Agents trade on assets worth millions of dollars on behalf of others. As such, there are several Acts that stipulate agents’ fiduciary duties and set out appropriate agent codes of conduct and best practices. Carrying out these duties with diligence and care is imperative to maintaining a high ethical standard and client approval.
Real Estate Income Australia:
Average Pay for Different Real Estate Agent Jobs
Real Estate Assistant
Real Estate Agent
Senior Property Manager
Working in Real Estate: The Potential
Almost every person who owns property will enlist an agent to manage it at some point. Real estate is a lucrative and highly competitive business. With uncapped income potential per property, real estate agents need to capture client attention by setting themselves apart from their peers. Since the deregulation of commission rates, agents now operate in an open market which allows them to set their worth based on expertise, experience and the services they provide. Such a competitive market requires real estate agents to distinguish themselves from their peers by trading on their greatest asset: themselves. In an industry so heavily entrenched in customer service, as agent’s fees, service, knowledge, and experience are neatly packaged within their ability to engage, communicate and influence people.
Personality, charm, and charisma are all part and parcel with being a real estate agent. Gaining client trust, and making them feel comfortable with, and prioritised by an agent are crucial to securing listings. Agents spend most of their workday talking with people, so being able to connect easily and effectively with people is paramount. Whether it meeting with potential clients, conducting open houses or negotiating with buyers and sellers, agents are required to consistently engage and impress people. Agents are not only representing their clients; they represent themselves and their agency for review. Because agents work on commission rather than salary, their income is performance driven, and their business is deeply contingent on exceptional customer service and satisfaction.
Employment Share by Top 4 States
A cut above the rest
The autonomous nature of the role requires agents to be self-motivated and goal-oriented. The harder an agent works, the greater reward they are sure to receive. Effort and an honest enthusiasm for helping people are key to succeeding in real estate. Readily accepting the odd hours and flexibility of the job, forging trusted relationships with clients and network building through positive referrals go a long way in a service industry. Possessing a comprehensive understanding of the broader property market and keeping abreast of market trends and property prices is a basic requirement. Having an in-depth knowledge of local markets, understanding community benefits and the more nuanced selling points of a neighbourhood, as well as understanding selling trends and boasting tailored marketing strategies based on demographic and location are what sets great agents apart.
To attract client interests, agents need to put their best foot forward, first time every time. Creating an adaptable and effective marketing strategy that integrates new and old media, tailoring campaigns to meet client needs and utilising various mediums to connect with a range of potential clients helps agents differentiate from each other. Setting fees and rates that reflect your level of expertise and experience, and garnering a positive reviews and client referrals helps homeowners separate the wheat from the chaff.
In the competitive landscape of real estate, agents are working harder than ever to place themselves above their competition. With homeowners increasingly using property portals like to request agent information and compare agent fees and services, agents are rapidly evolving to satisfy consumer demands and strengthen their business.
If you’re interested in learning how to thrive in this challenging, yet lively industry, explore our real estate courses below and start studying real estate today.
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