Real estate is an exciting and challenging industry in which to build a career.
There are many roles in real estate – and in all of them you’ll need to really enjoy dealing with people and to have the commitment and patience to make the buying, selling or leasing process as stress-free as possible.
There are three major career paths in real estate:
While the financial rewards in a real estate sales career can be great, so can the demands on your time. Most people want to talk to you about buying or selling a home in their spare time – that is, after hours. So you need to manage your time. You need to be prepared to work some nights and weekends. You’ll also need to have completed an Agents Representative Course before you can be employed in a sales capacity in real estate and be of proven good character. The Agents Representative Courses are run at many of the TAFEs.
If you’ve got energy, enthusiasm, determination, initiative, intelligence and a dedication to providing service, then you’re well equipped to build a successful career in real estate sales.
The duties of a sales person can include:
- appraising properties
- obtaining listings of properties for sale
- marketing property listings
- seeking out and introducing buyers
- offering advice on current real estate market conditions
- arranging and overseeing inspections
- negotiating the sale
- communication with sellers, buyers and legal representatives.
An investment property should not be regarded as simply a source of rent, but as a valuable and appreciating capital asset. As a Property Manager, you’re responsible for managing your landlords’ investment properties.
You also need to look after the needs of your tenants. To do both these tasks well is very challenging as it requires balancing and meeting the needs of two types of customers – but it is possible.
You’ll need organisation, tact, excellent people skills and a thorough knowledge of the applicable legislation.
The duties of a property manager can include:
- qualifying and selecting tenants
- collecting rent
- arranging repairs
- marketing the property
- negotiating leases and rent reviews
- advising property owners on market rents
- representing the property owner at tribunal hearings.
For many years, property management was regarded as a good ‘stepping stone’ for a career in sales and marketing. It is now widely recognised as an attractive, long-term career option in its own right.
There are several administration-based career paths in real estate, including:
Receptionist. Often known as the “Director of first impressions”, receptionists need to be expert jugglers. You’ll be answering the phones as you talk to people who have just walked in off the street wanting to inspect homes, you’ll be the first point of call for someone who has a problem, you’ll be following up solicitors for documentation, talking to suppliers about orders as well as handling all the front office duties like mail, filing and booking/maintaining meeting room/s. It’s a role that requires a “can do” attitude, warm personality and first class customer service.
Sales Support. You’ll be liaising with vendors (the people who are selling their properties) and buyers, ensuring that all the relevant paper work is done for every property, checking files are completed, as well as being the right hand for one or many very busy, very demanding sales people. This role requires strong organisation and time management, attention to detail and excellent people skills.
Accounting. The role of a bookkeeper or accountant in real estate is the same as it is in any industry. There are accounts and salaries to be processed and paid, records to be kept and there are financial returns to be prepared. And then there’s trust accounting… Real estate agencies receive large amounts of money as bonds, deposits etc and this money must be meticulously handled. This is a role that requires a high level of accuracy and attention to detail.
Marketing. No one is going to buy a property that they don’t know is for sale. That’s where marketing comes in. It can involve preparing window posters, boards, creating advertisements for local papers and property magazines, organising photography, placing the property details on the internet, organising letterbox drops, writing editorials. It’s a role that requires creativity and organisation.
Interested in a career with Barry Plant? Browse through our Positions Vacant or register with us today.