Let’s get the main question out of the way — yes, real estate agents can work independently. That being said, there’s a lot more to becoming an independent real estate agent than it seems.
The Real Estate Institute of Australia (REIA) estimates that more than 133,360 Australians work in the real estate industry, of which independent real estate agents form a growing proportion. But while anyone can potentially work independently as a real estate agent, it doesn’t necessarily mean that you should, or that it’s more lucrative than working for an agency.
In this article, we’ll cover everything you need to know about working as an independent real estate agent, from the necessary qualifications you’ll need to the considerations for doing so.
State requirements for being an independent real estate agent
Working as an independent real estate agent in Australia is a possible route for your career in real estate, but your journey to become one will vary based on the state or territory that you’ll be working in.
Each state has their own unique requirements for working as an independent real estate agent, and it’s important to understand what they are before making any plans. We’ve outlined these specific requirements below:
QLD
In order to work as an independent contractor or open your own agency in QLD, you’ll need to complete the full licensing course, Certificate IV in Real Estate Practice, which will then enable you to apply for a Full Real Estate Licence from the Office of Fair Trading.
VIC
Working as an independent real estate agent in VIC will require a Certificate IV in Real Estate Practice to work as an agent’s representative, and the Diploma of Property – Agency Management, in order to run a real estate agency as a fully licensed agent.
NSW
A Class 1 Licence is required to work as an independent real estate agent in NSW. This licence can be obtained only with a Diploma of Property (Agency Management).
SA
To operate as an independent real estate agent in SA, individuals must complete the Land Agent course.
WA
Any operation of an agency or independent real estate agent work can only be conducted by those who have completed the Diploma of Property Agency Management WA.
NT
The NT Government Department of Mines, Industry Regulation and Safety requires a real estate agents to hold a either a Diploma of Property (Agency Management) or the Certificate IV in Real Estate Practice to conduct independent contractor real estate work.
TAS
All entry-level real estate agents in TAS must obtain the Certificate IV in Real Estate Practice, but only those with a Diploma of Property (Agency Management) will be allowed to apply to the Tasmania Property Agents Board for a Real Estate Licence for independent work.
Benefits of working as an independent real estate agent
Working as an independent real estate agent holds many benefits not in just in financial terms, but also regarding the day-to-day work and future prospects. Here’s what you could enjoy as an independent real estate agent.
Flexibility in work hours
As an independent real estate agent, you’ll have the flexibility of deciding how many hours to work each week to fit your own schedule.
Be your own boss
Don’t like answering to others? As an independent real estate agent, you’ll hold all the cards to your success. Of course, this also means that you’ll have to be more responsible for your career.
Take ownership of your career
There are no promotions or performance reviews with independent real estate work, apart from the ones you carry out on yourself. There are no limits to how successful you can be or the extent of the projects you’ll work with — that’s entirely in your hands.
Considerations for working independently as a real estate agent
While it can seem attractive from the outset, there are also practical considerations for working independently as a real estate agent. Some of these essential considerations include:
Having sufficient experience/track record
The thing about working as an independent real estate agent is that you’ll need to have a wealth of experience dealing with the various complications and processes involved in real estate transactions. Without it, you’ll not only have a tough time servicing your clients well, but also find it difficult to build up a reliable reputation for yourself in the market.
Limited resources
Being an independent real estate agent means that you’ll have to do most of the legwork yourself; there’s no team of agency professionals to gather the information for you. You’ll need to be prepared for the amount of work and effort required to make your career take off as well as you envision it.
What’s the best time to start working as an independent real estate agent?
It’s probably better to start working as an independent real estate agent after you’ve had a couple of years of experience under your belt managing real estate work whether in a real estate agency or otherwise.
Having the right experience is absolutely critical — real estate work can be extremely complex, and knowing how to navigate it to deliver a favourable outcome for your clients could make or break your real estate career.
How to work independently as a real estate agent
On the other hand, working towards becoming an independent real estate agent in terms of getting the right qualification is an easy step that you can make in advance. At Entry Education, we offer the right real estate courses for NSW, VIC, and all other states in Australia to enable real estate professionals (or beginners) to work independently as a real estate agent.
