Do you find yourself looking at apartment and house listings often? Do you imagine yourself showing around clients these beautiful houses and making a name for yourself? Then an estate agent career could be right for you. But you don’t have any experience? So, how to become an estate agent with no experience?
Estate agents help find clients their dream home. People invest their life savings in a home where they feel secure and comfortable. And real estate agents are the lynchpin that holds it all together. Read on to find out how to become an estate agent with no experience.
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Who Is An Estate Agent?
Before we discuss how to become an estate agent with no experience, let’s look at who is an estate agent. An estate agent is a mediator between buyers and sellers of houses. As an estate agent, you will negotiate the transaction and selling of properties.
Your ability to close a deal will be the most significant skill you can have. Because the job of an estate agent is commission-based. So, your earnings significantly depend upon your sales pitch and techniques.
Simply put, estate agents facilitate the buying and selling of properties. So, it is expected of you to provide honest and informed guidance to your clients. You need to show them houses or get them sale deals that meet their needs.
Shifting home is an exciting yet daunting process for many. As an estate agent, people trust you to make the process as smooth and stress-free as possible. You must have a licence and be affiliated with a brokerage firm to get business as an estate agent.
How To Become An Estate Agent With No Experience?
How to become an estate agent with no experience, you ask? First and foremost, your interpersonal skills will be very important. These practical skills will help you bag the clients you want. Moreover, having organisation skills will give you an edge. Because you will have to constantly view and rummage through properties to find the best deal.
Without further ado, let’s find out how to become an estate agent with no experience. Read on to learn about the skills and qualifications you need to acquire.
You do not need a university degree prior to getting started in the field. You can take the basic subjected in your GCSE or A-levels. Furthermore, you need a minimum C or equivalent in all the subjects that you choose.
Consequently, opt for subjects that can give you a vantage point in this career. For instance, taking a beginner psychology course will help you interpret your clients’ behavior. And you can act accordingly.
Having adequate knowledge of psychology can help you understand the reasons behind a client’s decision-making process. The knowledge will come in very handy if you want to work in the property business.
Be A Great Communicator
A successful estate agent needs to have excellent people skills. You will be meeting and speaking to tons of new clients every day in this business. So, clients need to feel like they will be able to trust you. And you will have to make that happen with your communication skills.
You can have a long-lasting effect on your clients with your upbeat personality. Consequently, your knowledge of estates will be demonstrated through open conversations.
Make sure the communication has a free flow so that you don’t appear too professional or robotic. Clients want someone they can connect with and confide in. You have to be that person. Consequently, being a great communicator also helps maintain a strong group of contacts.
Do not miss out on going to networking events to meet the key players in the industry. Try to run in the same circle as they do to build up connections. Consequently, identify potential sellers, buyers and renters in your area. You should build a good rapport with them so that they choose you as their mediator when the time comes.
Having previous sales or management experience will give you an edge in this industry. Previous working experience in customer care or supply chain will acquaint you with the necessary skills. Employers will understand that you are well versed in the art of negotiation skills. Because, being a state agent is mostly about negotiating with sellers, buyers and other agents to get your client the best deal.
Consequently, working in the sales industry will enhance your potential to do well in the estate business. Previous work experience in any business sector will give you a leg up in this career path. Even previous retail experience will give you a vantage point to build a good rapport with customers and make sales.
Get An Apprenticeship
How to become an estate agent with no experience? The answer is simple, become an apprentice. Doing an apprenticeship will be an excellent start for you to work in this industry. Some estate firms or agents hire an apprentice to shadow them. It is a perfect way to get your foot in the door.
Your employer will give you on-the-job and in-house training. In-house induction will provide you with all the insight into the running of the business. The employer will also make you acquainted with the legislation of the estate business. Legislations vary depending upon the location of your placement and properties.
The in-house induction might continue for two weeks. And it will give you a rundown of pretty much everything you need to know about the industry. Consequently, it gives you a chance to explore the different niches this industry has. For instance, residential, commercial or rental properties. You can apprentice at a firm that specialises in any of these categories.
Call any of your local estate agencies to find out more information. The structure of apprenticeships may vary from company to company.
Getting certified will help you get highly specialised training. In addition, these certificate programs give you an overview of estate agencies with convenience. Consequently, the courses can be completed in less than a month or so.
Moreover, your employer will definitely like to have someone on board with enough expertise. You can even specialise in residential, letting or commercial estate agencies as per your preference. The certification program covers everything you need to know about property valuations, sales, finance, negotiations and buying.
Also, the courses teach you all about legal requirements and client’s expectations from an agent.
Build Up Your Resume
Work to build up your resume. Include personal, education, and work experience in your CV to showcase relevant skills. In addition, highlight any previous experience that will give you an advantage in the estate agency. Consequently, proofread your resume before sending it off to any company. It will help make sure the CV is error-free.
Moreover, it would help if you read through the job description several times to understand what the employer wants. Because you need to tailor your resume in a way that speaks to the employers. Your resume needs to tell them you are the right person for the job.
Architectural knowledge, background in business and finance are skills you can list in your resume. Strong communicator, good team player, great negotiator are some other skills an estate agency may look for.
Freelance In Spare Time
Offer your service or handle the work for friends and family in your spare time. Your friends could help you out by putting the word out about your skills. In addition, it will help extend your network of clients.
Consequently, you can get paid for small freelance jobs as an estate assistant. But you need to have the right skills for it and pitch your ideas to the right person. There are many estate agents who can’t afford a full-time house assistant. Find them in your local area using your network. Approach them and offer your services for a considerably small fee.
Think of the service as exchanging time for experience. The money might be tight, but you get to learn from the agent. And that should be your primary objective. Consequently, they might refer you to estate agencies they have a connection with if you do an excellent job as an assistant.
Duties & Responsibilities Of An Estate Agent
The duties and responsibilities of an estate agent will vary. The variation depends on whether you are soliciting a sell, buy or sublet of a property. In most cases, the duties can be segmented into two distinct sections.
When acting as a seller, your duties will include but are not limited to:
Setting The Property Value
Firstly, you need to provide the present market value of the property to your clients. It will ensure they set the best price for their property. Consequently, you need to make sure the price set up will be acceptable from the buyer’s point of view.
Consequently, you need to back up the price value you mention with previous sales records. The records should be at least a year old. So, it makes sense for you to research and collect information about the property before you give an estimated value.
Market The Property
As an estate agent, you have to ensure your clients follow the best possible marketing strategy they can. Putting up flyers, installing “for sale” signs, arranging “open house” tours are some suitable promotional methods.
You need to assist your clients every step of the way so that they don’t feel stranded. Consequently, arrange a photographer for taking a good picture of the house.
You can even talk to clients and take their opinion on highlighting the best features of their house. For instance, the property might come with features like a big yard and a built-in swimming pool. As an estate agent, it is imperative you monetise on such features.
This is what it all comes down to! All of your interpersonal skills and sales techniques are built up for this crucial moment. You need to be able to close the deal after giving a proper tour of the property to potential buyers. Otherwise, it’s all just a moot point!
Highlight the unique features of the property while interested parties come on-site for viewing. You have to know the ins and outs of properties to answer any and every question that a prospective buyer might ask.
Consequently, do thorough research on the neighbourhood the property is in. Often, buyers are more interested in knowing about the features of the neighbourhood than the property itself.
Clients with kids want properties adjacent to good schools. Consequently, newly married clients might want a property in a more secluded neighbourhood. So, make sure you are wary of these preferences.
Because clients are not only paying for the property. They are also paying for the experience. So you have to bring out the features that ensure them it is worth the money!
Manage The Sell Process
Knowing how to become an estate agent with no experience will be useless if you have little knowledge of property sales and transfer processes.
Having adequate legal knowledge is necessary to draw up a purchase contract with a potential buyer. The final stage of selling a property involves a great deal of paperwork and legal process. Hence, keep your clients informed throughout the transaction process.
When acting as a buyer, your duties will include but are not limited to,
Find An Ideal Property
It is your utmost responsibility to find a property that your buyers would absolutely love. You have to understand their needs while looking for a property that matches their vibe. Sometimes, buyers come in with the exact specifications of their ideal property.
However, buyers may be lost or sometimes confused about their preferences. You have to ask the right questions to identify their preferences.
Once you have found a handful number of suitable properties for your clients, you need to arrange viewings. However, it would be best if you visit the shortlisted properties on your own first. It will make certain that there are no hidden surprises or drawbacks before you bring your clients on board.
Liaise with the owner or estate agent of the shortlisted property to fix a date and time for viewing. Consequently, use your experience and knowledge to ask technical questions. It will help air out any confusion and loopholes the process might have. Thus, your devotion and keen interest will help instil confidence in your clients.
Make An Offer
Once your client has their heart set on a property, it is time to pitch your client’s initial buying offer.
You have to help craft an initial offer and purchase agreement based on your experience and market insights. Consequently, you have to make sure you advise on an appropriate offer so that sellers accept it on the first take.
Review The Purchase Process
After negotiating with the property seller’s agent to achieve a purchase agreement, time for you to deal with the legal jargon. Make sure to oversee and administrate all the processes related to the transaction to ensure everything transpires smoothly.
Consequently, you may need to coordinate inspections of the property and report them back to the buyer. Part of being an estate agent has to do with keeping your clients in the loop with every minute of information throughout the process. You have to be their confidant right up until they take possession of their property.
Salary & Benefits Of An Estate Agent
Now that you know how to become an estate agent with no experience and what your duties will look like. Let us discuss the part you have been waiting for. How much cash can you bag being an estate agent?
Your starting salary will range from £15,000 to £20,000 for trainee posts of estate agents. Consequently, you can expect to earn commissions, which will be a small percentage based on your sales. However, as you gain experience and climb up the ladder, you can expect to earn between £25,000 to £60,000 with the added commission.
Consequently, your job location, firm size and qualifications are some external factors that will determine your salary raise. If you are affiliated with high-end agencies in London, you are definitely looking at six-digit figures for salary. With enough experience, you can progress into the role of branch manager and carry out senior-level sales. Also, you can mentor juniors on letting and other sales negotiations.
The job of an estate agent is fun and will keep you on your toes. You will not have one boring day to worry about in this career. Consequently, the job comes with many other perks. For instance, the agency will provide you with a company car so that you can drive to different properties and visit clients as per need. Moreover, you can get a staff discount for letting or buying a property as an estate agent.
Now that you know how to become an estate agent with no experience, it is time to get on the grind! Being an estate agent is a rewarding choice of profession. You get to bring a smile to people’s faces when you help them find their new home.
You may need to pass through many hurdles in the beginning, but it will all be worth it in the end. The most significant perk of this profession is that you can have a fresh start no matter your age. You can make your dreams come true by selling people their dream houses starting from tomorrow.
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