Interested in pursuing a career as a buyers agent but have no clue where to start? We, here have listed all the necessary information that will help kickstart your career as a buyers agent. But before getting into the details on how to become a buyers agent, let’s get one thing straight – buyers agents aren’t real estate agents. Many interchangeably use them, but both are totally different. A buyers agent works for individuals who want to purchase a piece of property. The individual helps clients in every step of the purchasing process from scouting, and negotiations, to settling a deal. On the other hand, real estate agents work for sellers who want to sell their properties.
So, how to become a buyers agent? What are the necessary skills for becoming an agent? Can an agent work part-time? We will look into all these important questions and more in the coming sections.
Everything You Need To Know To Become A Buyers Agent
A high school degree at least is needed to work as a buyers agent. Many real estate agencies prefer candidates who have at least a high school degree. If a candidate has a college degree in say business administration, then it definitely helps in his/her career.
The three soft skills needed to excel in this field are business skills, people skills, and organizational skills. Out of the three, having interpersonal/people skills is very important because your daily work is in dealing with various personalities. People skills will help in understanding different individuals better which in turn can help you close the deals easily.
Pursue A Training Program
Every state in Australia has its own minimum training requirements. To meet the minimum requirements, all you need to do is enroll yourself in institutions like Real Estate Institute. Also, you can take the help of private institutions which offer courses in real estate to meet the training requirements. Having said that, real estate employers prefer candidates who have received training from a Real Estate Institute to some private institution.
To advance your career, get trained by REBAA (Real Estate Buyers Agents Association Of Australia). This premium institution offers mentoring and training programs that will be beneficial to your career. To access these programs you have to become a provisional member of REBAA. Once you get trained and get certified by the Real Estate Institute or from private institutions, you can apply for provisional membership.
Next, to work as a buyers agent, you need to get a license.
Apply For A License
Obtain a license to start working as a buyers agent. Each state in Australia mandates a license to work in this field. Every state has its own licensing requirements. For example, in New South Wales you need a full license to work whereas in Tasmania there is a different license registration requirement. Take the help of your state-based Department of Fair Trading to get a better understanding of the requirements.
If you want to work interstate, you need to get a license from each of the states where you want to offer your services.
Now, let’s have a look at other important questions regarding a buyers agent.
Can A Buyers Agent Work Part-Time?
Yes, an agent can work part-time but most employers are hesitant to offer a part-time job. Since purchasing a property is a lengthy affair, for most employers, part-timers can’t commit to the time that is required for the job. Moreover, the job entails dealing with seller agents, and they can easily spot part-timers who they consider as non-serious entities. Therefore, it is very rare that you would be offered a job as a part-timer.
Can You Run A Buyers Agency In Australia?
Yes! Absolutely! To run an agency in Australia, you need to have a full real estate agent license plus an agency license for your business. Both licenses together can help you set up an agency in Australia. That said, every state has its own laws and requirements. Research and find what regulations apply in your city or area.
Is This Job Lucrative?
If you are just starting out in this field, you can expect a salary anywhere between 58,000 Australian dollars and 60,000 dollars annually. While an experienced buyers agent can earn from $80,000 to $200,000 annually.
Buying agent or buyers agent is one of the many lucrative jobs in the real estate industry. Being one means helping out clients who are trying to buy a piece of property. To become one, you need to have the necessary training from a reputed institution like Real Estate Institute as well as a valid license. Apart from these, people skills and at least a high school degree is necessary to kickstart a career as a buyers agent.