So you’re thinking about a Career in Real Estate?
As the business owner of R & R Property I have been told by a high number of people that they have always dreamed of working in Real Estate, which is great. The industry does attract a glamour tag though and I find that sometimes the reality is a bit of a shock once that dream is obtained. You are dealing with what is usually the client’s largest investment they’ll make in their life and within all sorts of emotional circumstances. People can love you and hate you within the space of 10 minutes, depending on how their day or the transaction is going. The various roles can be emotionally exhausting and may also be physically exhausting, especially if you are selling rural properties. Real Estate can also be incredibly rewarding though and we have many celebrations. We love assisting people on their Real Estate journey and especially welcoming new locals to our area.
The roles within the Real Estate industry are numerous and will vary depending on what area you work in ie; city, suburbia, rural and commercial.
I can say that having the experience of working within small agencies and having completed or helped out regularly in most roles within those agencies has been of great assistance. As a leader I know how each person feels in their role and what it takes to complete it and can therefore empathise with them. I’ve been there and done it. Sure, systems change over the years but the basics of the job remain.
To be successful within the Real Estate industry you really have to give your absolute all. It truly is a lifestyle not just a job. If you want a 9 to 5 role with weekends off this probably isn’t the best industry for you. It is usually a roller coaster of seasonally slower and busier times, so when it is busy you have to pull out all the stops to get your many responsibilities completed.
To work within the industry and be able to speak with clients about Real Estate matters you will be required to obtain at least a certificate of registration. If anyone is trying to find work within the industry I suggest you obtain this and keep it current. At the time of writing it is required that you complete 12 CPD points annually which are received through study and/or authorised seminars.
Some of the main roles within the Real Estate industry are:
Owner/Managing Director – usually the Principal (Licensee) as well.
This is the person who is the head of the business, where all responsibility finally sits. They usually hold the license that the business is operating under. Amongst many other things they have to ensure the business is compliant in both its operation and its trust accounts. They also have to ensure that the team is trained, happy and functioning correctly, the business is making money and of course that our customers are happy. If customers aren’t happy this is the person at the end of the day they want to speak to.
The sales agents are responsible for the listing and selling of the properties. They complete price appraisals on client’s properties, obtain new listings to sell, show buyers through properties, complete open homes, auctions and negotiate to sell the properties with buyers and vendors. They are in constant contact with their sellers and buyers with updates and follow up calls. Depending on the agency they may be responsible for their own marketing; social media, letterbox flyers etc. The time each sales inspection takes depends on what type of property it is. A residential inspection could take 15 minutes and a rural inspection can take up to 4 hours just as an example. Sales agents are also called upon regularly for presentation and styling tips when a property is about to go on the market. A Real Estate agency cannot survive without properties to sell so it is crucial for the agency to obtain new listings. This usually falls under the role of the Sales Agents within the business. An agency that is busy selling and not listing will soon find itself in trouble.
The sales assistant role is a large responsibility and quite varied, depending on the size of the agency. They are the behind the scenes person who is organising basically everyone. The properties that we have for sale on the internet, social media, updating our in-house data base, marketing in its many forms including organising newspaper advertising, filing, mail, banking, printing, calling clients and usually sitting at front of house (reception/front desk). Generally this role is being a personal assistant to the whole team.
This is the person responsible for the agencies rent roll or our landlord’s investment properties. They have to find tenants for our landlord’s properties through a screening process of internet search and references. Once a tenant is found they have to complete a lease, an in-going report of the home which means recording how the property is presented prior to the tenant moving in. Regular inspections are completed throughout the year, repairs and maintenance have to be attended to and rent must be accepted, recorded and paid out to the landlords. Once a tenant moves out an out-going report must be completed and compared to the in-going. Make any claims on damages and repairs. The PM also has to make sure each property is compliant for safety reasons including smoke alarms and swimming pools before and during rental.
There are more roles within the industry depending on the size and location of the agency but these are the basics. If you are in a large agency for example your role may be just one part of one of these roles as opposed to a small agency where you have quite a varied amount of responsibility and the roles may blend.
To succeed in Real Estate you have to be prepared to study, be a sponge; soak up knowledge and always go above and beyond your duties. You also have to have goals, write them down, complete an action plan and have a vision board as a daily reminder of them. Be passionate about your job. Because of the amount of work that is involved you will only succeed if you have an absolute passion for the industry. Ultimately it can be an extremely rewarding career and offers an amazing lifestyle.
R & R Property are continually growing and expanding their footprint across the Great Lakes and Port Stephens areas. Accordingly they are always on the lookout for exceptional team members that are willing to work with absolute dedication and passion; always prepared to work above and beyond the norm and aligning with our amazing team culture. If you think you are one of those people please let us know.
Managing Director and Principal
R & R Property
73 Cowper St, Stroud 2425 | 78 Stroud St, Bulahdelah 2423
P: 02 4994 5766 | 02 4997 4325