How to start a career in real estate

So, you think you have what it takes to succeed in a real estate career and you’ve decided that the real estate industry is your calling. After all, you have the qualifications: you are an excellent communicator, you are organised and you have an innate love for property and everything that comes with it.

When someone asks you what you see yourself doing in five years, it will be along the lines of selling homes or managing properties. Or specifically, you may want to be a real estate agent, a mortgage broker, or a buyer’s agent. 

But there’s one problem — you don’t know how to get your foot in the door of the industry!

If you’re thinking about a career in real estate, here are some basic steps to help you get started. 

Step one: Know what career path you want to have in real estate. 

Firstly, decide what specific area you are interested in. There are a number of career paths in the industry, which include real estate sales and property management in different sectors (e.g. residential, commercial, rural). Additionally, there are opportunities in property development, brokering and auctioneering. 

Having a clear understanding of your career path is important.  Learn everything you can about the real estate profession with careful research to ensure you are choosing a career that is suited to your strengths and weaknesses. 

You can begin your research online by looking into websites that can provide you with insights about the industry. To start off, make sure to check Real Estate Business’ Industry Section! 

If you’d like to hear it straight from the horses’ mouth, check if you can visit your local real estate agency and talk to real estate professionals to see what a day in their life looks like. If possible, you can also ask about the pros and cons of working in real estate. 

When you’re starting out, it’s understandable to have a small or no network. You can ask your acquaintances if they have someone in their own network that they can introduce to you who is working in the industry (i.e. real estate agent). 

To have a first hand look at roles in the industry, you can also visit open houses, auctions, etc. You can see how real estate agents or salespeople interact with buyers and sellers.  Of course, make sure to ask if it’s okay to ask them about their job and if it will not get in the way of them doing their work. 

 Step two: Complete real estate courses

For most real estate careers, the most common starting point is to work as a registered sales representative or property manager. 

This involves undergoing a real estate course at a registered training organisation to obtain a Certificate of Registration or Agent’s Representative Certificate.  Make sure to check with your state or territory’s guidelines and requirements to know what courses you should take. 

Nowadays, most institutions offer students the choice between online or face-to-face delivery. Generally, you have up to six months to complete this course. 

Step three: Apply for a registration certificate 

Once you’ve completed your real estate courses, you then need to apply for your Registration Certificate to your state or territory’s local regulatory body. 

After being registered, a real estate salesperson or property manager must be employed by a licensed real estate agent who operates an agency to work in the industry. 

If you want to take it a step further and work as a fully-licensed real estate agent, you must meet specific requirements set by the licensing authorities in the state or territory that you want to practice in. 

Generally, you will be tested on specific laws, rules, regulations and procedures regarding real estate. Some states also have program requirements where you must attend a formal study class and undergo a formal assessment. For more information, here is our guide on how to be a real estate agent in Australia. 

Step four: Find work

After you are registered, congratulations! You are now ready to work and officially start a career in real estate!

It’s a good idea to begin looking in your neighbourhood by approaching real estate and property agencies in your local area. Check if they have any openings for salespeople or assistant roles for property managers. 

If you’re willing, you can also try out entry-level positions, such as an administration role, just to get your foot in the door.  

When researching agencies or firms, consider factors such as local market share and agent income, quality of sales staff and their retention rate. You can check their websites and other resources to read up on what they have achieved since they were established and what milestones they have reached. 

If possible, talk to other real estate professionals in the area for recommendations. This can help you determine which agency is best for you and your career goals.  

Step 5: Build your network

Any industry veteran will tell you that networking is the bloodline of a real estate career. In this arena, it’s not what you know, but who you know. 

It’s a good practice to keep every phone number or email address contact you get in your work. Even before you are registered,  you can build a database of potential colleagues, mentors and trainers who will help kick-start your new career, and may lead to job opportunities.

Attending industry-related networking events, joining relevant Facebook groups and connecting with potential employers and colleagues via LinkedIn or in person are also good ways to get started.

Start filling up your work calendar with Real Estate Business’ events, which you can find here.