Ever wondered how you can become a Real Estate Agent in the UK without a degree or no experience?
Do you have an interest in properties? Whether commercial or private? Or Are you interested in the real estate market? Starting up as a real estate agent in the United Kingdom is quite easy because there is no need for a license to practice or any educational qualifications.
A major financial challenge people face in their lives are either buying or selling a house. This is why people seek assistance from real estate agents.
Having a career in real estate opens a person to numerous opportunities. Some of these include visiting incredible properties and keeping a tab on the latest trends in real estate investments.
What do Real Estate Agents do?
A real estate agent can link up property buyers and those willing to sleek their properties. They are also able to sell commercial or residential properties. Some of the responsibilities they handle include:
Overseeing and Inspecting properties
The major responsibility of a real estate agent is to oversee and inspect properties. This is to ensure that the properties meet up to the expectations of the clients.
They also take measurements and pictures of these properties which they can share with their clients. In addition, they offer professional advice to the buyers and sellers.
Estimating the value of a property
In conjunction with relevant authorities and valuation agents, real estate agents can come up with a value estimate for any property.
Marketing a Property
Real estate agents market and advertise a property for sale both online and on the streets. They ensure that advertising signs with the contacts of the sellers are put up to advertise the property.
Negotiating prices of properties
After careful evaluations are made, the real estate agents negotiate prices with either the buyer or seller to ensure that they both receive the best proposals. They liaise with both the buyer and seller to ensure that this proposal is acceptable to them.
Handling a Property
Real estate agents are responsible for managing a property and booking tours for their clients.
What qualifications do I need to become a Real Estate Agent in the UK?
Just like any other career, obtaining a career in Real Estate is not easy. But despite this, the UK doesn’t require any qualifications or licensing to become a real estate agent.
Although, some agencies may require their agents to have minimum qualifications like GCSE while others require their agents to obtain higher educational qualifications. It varies.
Individual real estate agents may belong to professional bodies like RICS.
How to Become a Real Estate Agent in the UK
Although Real estate agencies provide a high-income lifestyle for a person, it is not the quick money fix that most people believe it to be. The UK is the best place to begin this career, as you don’t require a license or certificate from any school or body.
If you have your eyes set on becoming a real estate agent in the UK, then you should consider the following steps.
1. Decide if the Real Estate Career is Right for You
Most people due to the flexibility of the job and the income they expect to receive believe that a Real Estate Career is the dream job. What they fail to understand is that success, not only in the real estate field but all around, is quite hard to accomplish.
Success in real estate is mainly dependent on the economic situation of a place, there is also a factor of business awareness and a genuine desire to engage clients as well as other professionals. A good understanding of the market and adequate negotiation skills are very necessary.
2. Obtain Proper Education and Develop Your Skill
Obtain a degree in real estate and property management.
Although real estate agents have no use for a degree, getting one would provide a strong foundation for this career. Additionally, future clients will be certain of the type of training you’ve had and rely on your knowledge and expertise.
Most Universities now offer Bachelor’s and Master’s degrees in real estate. Other degrees such as business administration, law, planning, etc are also beneficial to this career.
Getting a certificate course program to specialize in the field
For people who are unable to get a degree in real estate from a University, special courses are available. These courses give a heightened specialized view of the estate agency. These programs can be completed in a short time.
Membership agencies like the Independent Network of Estate Agents (INEA) and the National Association of Estate Agents (NAEA) provide special courses in addition to the opportunity of furthering your education once you become an agent.
Taking a Licensing Exam
Once the real estate courses have been completed, you can take a Licensing exam. Passing the licensing exam can be a little tasking but pre-licensing courses often make it easier.
Improving Communication and Interpersonal Skills
Communication with clients is very important as the estate agency job is mainly for people who enjoy interacting face to face with their clients. Ensure to note carefully what your clients request for in a property and try to always be available during regular business hours. There’s also a need to always reply to calls and emails as fast as possible.
Use of non-verbal cues to show a client that you’re paying attention and understanding what they’re relaying to you is important.
Improving Customer service skills
The relationship between your clients is much more important than the properties themselves. You must maintain a healthy relationship with your clients as this skill can help drive sales better.
More business opportunities can come from positive feedback from previous clients. Endeavor to always stay up to date with happenings and new trends to improve your real estate business.
Learning How to Negotiate
Negotiating with both buyers and sellers to get your client the best possible deal is important. Make sure not to take negotiations personally, as it is business.
3. Acquiring Experience
Starting as a Part-Time Real Estate Agent
In the UK, part-time real estate agent jobs are available. A safe method of approaching the agency market is to start with part-time jobs.
Working as an Apprentice with experienced agents will teach you ways to become successful in your career. It is a good opportunity to explore other areas of real estate such as rental, residential, and commercial real estate.
Part-time labor provides some benefits over time as it provides some financial aid as well as an opportunity to decide if this career is something you would want to continue.
The money obtained from the jobs can allow one to obtain a license in the UK.
Be your Buyer’s Representative
To become the best estate agent in the UK, the most important thing to do is stay on your buyer’s side. This means taking on the position of your buyer’s guide.
This will not be possible without a well-presented business card. Showing this card to the buyers gives them the impression that you are an expert.
Create a CV
Produce a CV that targets the job you want. This CV should contain personal information, education, relevant skills, and experience. Use a good font and make sure the CV is devoid of errors.
Check Online, Try to Network, Ask Family and Friends for Leads
As a beginner in the field, the first step to securing a job would be to ask family and friends for leads. Informing them that you have started working as a Real Estate agent is a good way to kickstart your career.
Indeed and Craigslist are two very common sites to check for job openings. Also, check job fairs to chat with other agents.
4. Getting a Job
Once you’ve obtained the experience or you have a degree, apply and start a job with any already existing firm. This will help to support you while gaining some more experience that will be necessary when you decide to start on your own.
In the UK, numerous national and regional chains support new agents by handing out their existing clients to them.
5. Start your own independent company
Once you’ve gotten enough experience after some years, you may want to start your firm to run things on your own. Ensure to register the business with Companies House.
But agents decide to stay back with the already existing firms because of the hassles that come with owning a business.
How Much Do Real Estate Agents Earn?
Based on the latest update from Indeed salaries, real estate agents earn around £24,015 per year in the UK. This figure could vary based on your location, the company in question, and your stated experience.
Some companies may decide to include commissions or even offer a monthly retainer. Extra income can also be earned once you hit a fixed target.
Estate agents can make money by charging a certain percentage fee of the agreed-upon price to the seller. Salary and commission from place to place and depending on your position.