The first thing to understand about how to become an estate agent is that there are no administrative authorisations or a specific diploma needed. So which attributes, skills and experience can help you become an estate agent? What are the responsibilities of an estate agent?
Let’s start by giving a brief overview on what an estate agent is. An estate agent, also known as a property agent, acts on behalf of a client and generally assists them in property transactions such as selling, buying and leasing or obtaining a mortgage loan.
Using an estate agent is not mandatory, although it is usually the most effective and safest way to sell or buy properties. In most cases, an agent’s commission is between 1%-3% of the final sale price, but in reality, there is no binding rule in this regard.
Estate agents skills
A good estate agent will always be a good mediator. Excellent communication skills are critical, given the many face-to-face, telephone and written liaisons you’ll encounter. To become a successful estate agent, confidence is key as it is a sales based industry and people buy from people.
You need to be enthusiastic, ambitious and personable; take the initiative and support of colleagues, and most importantly to demonstrate passion. Negotiation, organisational and administration skills will be helpful.
NAEA, the leading national association of estate agents in the United Kingdom, lists the essential qualities of an estate operator as, “good communication skills, interpersonal skills, perseverance in business and the ability to read, write and count.”
Estate agents entry requirements
As mentioned previously, there is no need to obtain any administrative authorisation to practice as an estate agent in the United Kingdom. This corresponds to the English political wish to create a professional sector whose access isn’t overly limited but it does mean the lack of regulation and specific requirements can result in a lower professional ability of some operators compared to those of other European countries.
However, estate agencies as a company need to sign up to a property redress scheme or risk facing a penalty charge. The three currently government approved redress schemes are ‘The Property Ombudsman Limited’, ‘Ombudsman Services’ & ‘Property Redress Scheme’.
While not necessary to being an estate agent, there are qualifications that applicants or existing estate agents might like to think about taking which are offered by the National Federation of Property Professionals. The residential sales certificates are required for anyone who wants to become a member of the National Association of Estate Agents.
Estate agents responsibilities
The job of an estate agent contains elements of marketing, sales and administration. Responsibilities of an estate agent include:
- marketing of properties in the most appropriate manner to maximise the selling value;
- handling enquiries about properties from potential buyers;
- valuing properties;
- producing reports, brochures, promotional information and other written material;
- conducting viewings;
- understanding and interest in the local property market and the process of buying and selling a property.
As Birmingham’s largest and most successful estate agency and property services group, loveyourpostcode.com® is always looking for new estate agent talents who are looking for a job in this area.
Make a positive step in your career by taking advantage of our unrivalled business model and industry experience. Send your CV to us at [email protected] or Love Your Postcode Ltd, Colmore Row, Birmingham B3 2BJ.