So you’ve decided that you want to become a property agent, but do you actually understand what that entails? Read on to discover four things you absolutely must know before becoming a property agent.
1. Entering the profession is not easy
You’ve decided to take the plunge and become a property agent. However, did you know that in order to become a full-fledged agent, there are multiple hurdles you must pass? You must first invest in a Real Estate Salesperson (RES) course or property agent course conducted by CEA approved course providers. This is not cheap – the costs vary between SGD$650 - SGD$800. You then need to take the Real Estate Salesperson (RES) exam, and the fees for both papers are SGD$417.30 inclusive of GST. The journey does not end there. Upon passing the exams, you still need to register as a licensed property agent, which in itself is subject to an application and registration fee, and you also would need to get Professional Indemnity Insurance. The final hurdle is finding an agency to join, which could also incur a one-time admin fee.
2. Success is not guaranteed
While many have fantasies of easy money landing in their laps after entering the profession, this could not be further from the truth. In reality, your ability to succeed in this profession depends on a confluence of factors – connections, mentorship, knowledge, and so on. There are some who rely on only connections to close deals, while others have to be more resourceful in seeking out prospective buyers. What I would have to say is this – in this profession, it’s not enough to be hardworking. I have seen hardworking individuals who simply did not make it in this profession, and hardworking individuals who have. What matters is your selling point – find something you are good at and market yourself as such.
3. What you learn in the classroom is never enough
You need to put in a lot more effort outside the classroom to excel in this profession. This includes tons of practice role-play and on-the-job training that can only be gained through experience. You also need to know that your leader in the company may not be able to devote as much time towards mentoring you, so you pretty much have to take charge of your own learning. Independence is key in this profession.
4. Treat yourself as a business entrepreneur
In actual fact, while you are joining an agency, you are actually self-employed. Treat yourself as a business entrepreneur and own your time and efforts. Market yourself the right way. You also need to be independent and a go-getter to succeed in this profession. For those who prefer to work in teams, or look to others for hand-holding and guidance, this industry is not for you.
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While the life of a property agent can be potentially very fruitful and rewarding, think hard and fast as to whether it is the right life for you before jumping in!