As a business development manager (BDM) in property management, in the ever-shifting property market, it’s not enough to stay at your current level of expertise — clients are always looking for value-added opportunities.
We’re here to present you with the case for why you should consider getting a full real estate licence as a BDM, delving into how it can benefit your career and strengthen your reputation in the industry.
What is a full real estate licence?
In Australia, each state has their own specific requirements for the type of certification needed to work in real estate. In Victoria, for example, there’s the Certificate IV in Real Estate Practice and the Diploma of Property – Agency Management.
As a BDM working in Victoria, you may have already gotten your Certificate IV in Real Estate, which is the minimum requirement to do any property management work.
The Diploma of Property – Agency Management is the full real estate licence we’re referring to. This certification will allow you to go beyond your executive role and work in senior real estate roles, such as ‘Principal Agent’, ‘Agency Director’, ‘Licensee in Charge’ and ‘Agency Manager’ in Victoria.
It showcases your commitment
It’s quite a well-known fact that many BDMs work on a part-time basis. The truth is that most clients don’t see an immediate difference between part-time and full-time BDMs at the point of application. Of course, the biggest difference is that a full-time BDM would be able to focus all of their time and effort on their responsibilities, unlike a part-time BDM, whose efforts may be more scattered.
Having a full real estate licence is a clear way to showcase your commitment to the role as a BDM, especially if you’re working full-time. With a full real estate licence, you will immediately stand out from part-time competitors, and show your clients that you are both professional and committed to the role. This will immediately set you apart from part-time BDMs as someone who is dedicated to getting the job done right.
It establishes trustworthiness
BDMs come in various degrees of experience and skill, and not all of them can achieve the same KPIs as others. This means that clients will also be looking for a degree of trustworthiness, in the form of a portfolio or certification.
Being fully licensed for real estate work also comes with an inherent level of associated trust. The certification shows that you’ve taken the time to learn about the complex ins and outs of the real estate industry, which automatically makes you more attractive to clients due to the legitimacy and recognition of the licence.
It prepares you for opportunities
While having a full real estate licence is not a legal requirement, more and more property management businesses are looking for BDMs who do have one, listing it as a requirement on their job listings.
Getting a full real estate licence awards you the benefit of being ready to take on future opportunities as they arise. With this licence, you can be a business owner or shareholder — in fact, many business owners are giving opportunities to BDM to become partners and even act as Officer in Effective Control (OEIC) in rental businesses. Completing the Diploma of Property – Agency Management is the best way to prepare for these opportunities beforehand.
It helps you stand out from the competition
Instead of thinking of the real estate licence as just another requirement for work, you should realise that it is also a strategic move to elevate your own services above the industry’s standards.
In a competitive field like real estate, having a real estate license is a potential way to differentiate client listings from other competitors. It’s a tangible way to showcase your expertise in handling real estate transactions to potential clients, community, and directors that you are not only a good fit to work with, but also the best choice among other property listings.
How to get a full real estate licence in VIC
So, how do you get started on completing the Diploma of Property – Agency Management in Victoria?
To be recognised by the real estate industry in VIC, applicants will need to have completed Certificate IV in Real Estate Practice prior to starting the Diploma of Property – Agency Management. However, it’s not a prerequisite to start studying for the Diploma of Property – Agency Management; you can start enrolling in the course right away. In other states, the requirements for working as a BDM may differ — we offer the equivalent Land Agent course for South Australia and Real Estate Agent Licence course for QLD, as well as all for all other states.
Entry Education is the leading provider of real estate training in Victoria and Australia. We engage experienced real estate professionals in our courses to provide you with the most up-to-date and relevant skills and knowledge, helping you to only simply achieve the certification but also finish the course as an expert in your field.
Our Diploma of Property (Agency Management) course is the industry-leading standard in VIC and can be completed in your own time with self-paced learning and online/face-to-face workshops. Level up your expertise as a BDM today and sign up for a full real estate licence!
