Queensland is a ripe area for property investment. It is Australia’s third-most populous and second-largest state – a viable destination that offers a fantastic and affordable lifestyle with a strong economy. With more and more people heading toward QLD, there is always activity in the real estate market, making the QLD real estate industry a lucrative career option. Many homebuyers and property investors rely on buyers agents to buy and sell their property. That’s because buyers advocate in Queensland have the best knowledge and industry know-how on buying/selling property. There’s always someone looking to hire you if you are a successful and reliable buyers agent.
The difference between a buyer’s agent and a seller’s agent
The difference between a Queensland buyer’s agent and a seller’s agent is this: A buyer’s agent represents a client interested in buying property. A seller’s agent represents a client interested in selling their property.
Why become a buyer’s agent
There is an increasing demand and appeal to buy a home in Queensland. Interstate movers, those looking to upsize, and people ready to buy their dream homes are rising. The increase in buyer demand has made the services of a buyer’s agent more critical today than ever. Potential buyers from other states rely on buyers’ agents to help them choose and buy the best properties. By becoming a buyer’s agent, you don’t only have a chance to help families get their dream home – you also have a lucrative career.
How to become a buyer’s agent in QLD
Step 1: Know your eligibility requirements
The Office of Fair Trading (OFT) requires those who intend to work in real estate to pass the eligibility criteria. The main criteria include being above 18 years of age and passing the required training courses. But as well as those criteria, you must also be suitable to hold a real estate registration. Click here to view the OFT’s eligibility criteria.
Step 2: Enrol in a real estate course with Queensland’s real estate institute
The Real Estate Institute of Queensland is the best place to study for your real estate certificate (REIQ). It is the state’s peak body for the real estate industry. If you prefer to go with a private institute, ensure the training course is accredited by a professional training body and that it teaches the skills required by a buyer’s agent.
If you want to work for a real estate agency, you will only require a registration certificate. To operate independently and own a buyer’s agency, you must study for a full real estate license. You will need an individual licence for yourself and an agency licence for your company.
Step 3: Register with the OFT
After successfully finishing your course and receiving your statement of attainment, the next step is applying to the OFT for your certification. Your certification could take up to six weeks to arrive. It may take longer if you submit your application with incomplete information or fail to pay the required fees. So, be sure to fill in all your details and pay the fees when you lodge your application.
Step 4: start your career as a buyer’s agent
You can now start working as a buyer’s agent with your certification. There is increasing concern about the growing number of new buyers agents with little or no experience. The best way to ensure your success in QLD’s real estate market is to join a respectable buyers agency as an apprentice. Work under an experienced buyers agent who can mentor you through the first few years.
A reputable buyers agency like the Real Estate Buyers Agents Association of Australia (REBAA) can help. They will pair you with a reputable real estate agency to help you get that necessary experience that every buyer’s agent needs to arm themselves with.
Once you gain experience and a foothold in the industry and make a good reputation in the real estate industry, you can start your agency.
Approximate fees associated with becoming a real estate agent
The fees for getting a real estate licence differ from state to state. In Queensland, you can expect to pay approximately $1,510 for a one-year registration or about $2,830 for a three-year registration.
There are buyers agents, and then there are successful buyers agents. The amount of time it takes to become a buyer’s agent is just as long as getting your licence after your real estate course. However, to become a successful buyers agent in QLD, it’s the experience that counts – and the more experience you get, the more successful you will be at your job.