So, you’re wondering how to become a self-employed real estate agent? Well, you’ve come to the right place. In this guide, Entry Education will walk you through the main steps to becoming a self-employed real estate agent.
In one of the hottest housing markets in history, now has never been a better time to become a real estate agent and take the industry by storm. In this climate, as a real estate agent, self-employed status gives you more freedom and flexibility to work your own hours and at your own pace. The best bit? You can get started studying to be a real estate agent with Entry Education today!
As a real estate agent, you might choose to specialise in either the sale, purchasing or leasing of all manner of properties. You could decide to do all three! Whether it’s residential, commercial, industrial, or agricultural property, you can choose where you’d most like to specialise. This guide on how to become a self-employed real estate agent will give you the vital steps to follow.
The 4 steps to becoming a self-employed real estate agent
1. Understanding the role
Before even thinking of taking any further steps in becoming a real estate agent, self-employed or not, you should properly think about whether you are ready to commit to this career. Career shifts can be daunting but also incredibly exciting! If you’re thinking of making the shift into the real estate industry, ask yourself, are you ready to do the following:
- Promote sales through open houses, print advertising, or online listings.
- Respectfully present properties and escort buyers through the homes in property inspections.
- Look for sellers and also accurately match them with buyers.
- Build knowledge of legal requirements and monetary requirements in purchasing a home, including maintenance, repairs, and financing options.
- Having an in-depth knowledge of local areas to appraise properties and advise clients on pricing properly.
- Maintaining networks of legal and trade professionals to refer clients to when required.
If these all sound appealing to you, and you are willing to accept the responsibility of these duties, great! That’s the first step completed, now onto the next.
2. Get educated!
If you’re located in NSW, Sydney, you’ll need to complete an Assistant Agent Course (Certificate of Registration) given by a registered training organisation like Entry Education. This course typically only takes a few days and is the foundation for your career in real estate. However, if you’re wondering how to become a self employed real estate agent in Melbourne, VIC, you can skip this step and head straight to completing the next step.
The following primary requirement is Certificate IV in Real Estate Practice (CPP41419). Upon completing this course, you’ll be able to work within several aspects of the industry, including sales, leasing, property management, on an owners’ corporation, and more. This Class 2 license does not allow you to open or operate your own agency or be completely self-employed. For that, you need to go one step further.
With the Diploma of Property Agency Management (CPP51122), you’ll have your final answer on how to become a self-employed real estate agent. Completing this course allows you to work in all senior real estate roles, like an Agency Manager or Principal Agent; more importantly, you’ll be able to start up and run your own real estate agency and become your own boss!
For readers living outside of NSW or Victoria, we offer several similar courses applicable to legislation within your state that also forms part of the enriching pathway to becoming a self-employed real estate agent.
For those learners who have had previous experience within the industry, in some instances, you may be able to fast-track your progress with our Recognition of Prior Learning (RPL) program to accelerate your completion in acquiring your complete real estate license.
The best thing about the real estate industry is that it is so accessible to people from all walks of life. There is no age limit or experience required to get into these courses. All that is needed is a passion for all things real estate! All of these courses can be completed under the guidance of Entry Education and can be completed entirely online with access to real estate experts every step of the way.
3. Gather experience
It’s unlikely you’ll be able to dive into life as a real estate agent that is self-employed. You’ll need to cut your teeth in an agency to learn some of the practical aspects of the industry and build your leads. Gaining experience in an established agency will set you up with a good understanding of the business operations within a real estate agency when it comes to setting up your own.
Building your own business takes hard work and a lot of effort. Taking the time to work hard under the mentoring of a more senior agent will be incredibly beneficial down the line. Build relationships with those who are good at the things you want to be good at; that’s where you’ll find out the most.
4. Starting out on your own
Now that you’ve had some experience working in an agency and are a fully certified real estate agent, time to dip your toe in the self-employed real estate world. Once you embark on your project, you’ll need to get started with a few things, like a customer relationship management system or CRM, to keep track of your developing industry leads so you can improve your insights into the state of the industry. A well-developed CRM will ensure you remain organised and on top of developing your campaigns.
Crafting a business plan is vital in ensuring your success as a self-employed real estate agent. Focus on setting yourself apart from other agents’ offerings in your area and emphasise what makes you different and better.
Getting yourself set up with organisational requirements like a website and business email is also essential in building your credibility as a self-employed real estate agent. From here, all you need to do is build on the skills you learned whilst working at an agency, and you’ve answered your question, of “How to become a self-employed real estate agent?”.
What are the benefits of being a self-employed realtor?
There are numerous benefits to becoming a self-employed real estate agent. You have the flexibility to finish and start work when you want to, determine your own wage, make important business decisions on your own, and much more. These benefits do come with a lot of added responsibility, but with suitable systems in place and a firm administrative understanding, you’ll be able to balance these easily. You will also be entitled to set the commission rate as you see fit and incorporate this into the up-front costs of selling and buying property.
So, when can I start?
With Entry Education, all real estate courses are run entirely online. Our courses are designed to be managed alongside your current responsibilities, allowing you to study at your own pace.
Entry Education gets you all the qualifications and skills you need to become an effective real estate agent, self-employed, or with an agency. We’re here to get you with the qualifications you need to excel in your career in Real Estate. For more information on getting your foot in the door, speak to one of the experts at Entry Education today.
