If you are considering becoming a real estate agent and so are wondering which courses to take, you probably won’t find any and the reason for that is that there not any formal courses that you need to take prior to becoming an estate agent. Usually an agency will hire people that just have a good knowledge of numbers, perhaps experience in customer service and are honest.
The agency will then train their new staff member in the aspects of the business they wish them to know. A reasonable starting salary for one of these new comers to the business is around £12,000 per year, increasing of course as they gain experience and knowledge.
Although it may not be expected for a newcomer to have taken any specialist courses before joining the agency, they may be expected to take some distance learning courses offered by either the National Federation of Property Professionals (NFoPP) or the National Association of Estate Agents to improve their competency.
Once an agent is fully qualified and well experienced, they can hope to make somewhere in the region of between £20,000 and £30,000 per year but in areas where housing prices are higher, that figure could be as high as £12,000. Although there are 3 categories of real estate, there are in fact 4 areas in which agents could be employed.
The 3 categories of real estate are residential real estate, commercial real estate and industrial real estate and the forth area in which they could also be employed is in property management.
Residential real estate is any property that is considered to be residential in nature and can include either detached or semi-detached houses, apartments or even condominiums.
Commercial real estate includes office blocks, shops, garages and hotels, in fact most properties which include a place of business or a facilities to allow a business to operate. Industrial real estate is the name given to properties that include farms, mines or manufacturing plants.
When an agent is asked to specialize in one of these categories, they will be expected to keep up with any changes in laws and by-laws that may affect the sales of those types of real estate. The forth position an estate agent may be employed in is as a property manager.
When a property investor buys a property with the intention of renting it to tenants, they will often hire an estate agency to be that property’s manager. This will entail the collection of rents, arranging and supervising any maintenance the property may need from time to time and basically look after the owner’s general interests as far as that building is concerned.
Some of the available distance learning courses are specifically designed for each of these different tasks and so an agent should be careful to take the appropriate course if they intend to specialize in any one particular aspect of the business. As to whether or not an agent receives a commission as well as a salary, is very much up to the agency which employs them.