Ultracialis.com – Property agent is a service business that does not require a lot of capital. Check out 5 guides to becoming a successful real estate agent for those of you who are looking for side business ideas.
The capital you need is an extensive network of relations with property entrepreneurs, notaries, tax offices, and maybe the state land office.
If you visit websites like lamudi or rumah 123, you will often find one account posting many types of properties.
The account is the work practice of a property agent, they don’t need an office and regular working hours.
The job of a real estate agent is to guide clients through the complex process of buying, selling and renting properties.
To become a property agent, you can learn from mentors, attend short classes or seminars that are usually held by senior property brokers.
But you can also learn on your own or look for tips on Youtube about property agents and how they sell.
As a real estate agent, you will help clients compare properties, buy or sell properties, and manage a portfolio of properties for sale.
Some property agents do this work as a sideline, and some others focus on real estate agent work as the main.
During the 2020-2021 pandemic, it was a tough ordeal for property agents, because many people experienced a decline in their purchasing power.
So that it resulted in people’s interest in buying property, in fact at that time many people were selling their property at below standard prices.
They do this because they need money considering the decline in income during the pandemic.
Although many people who sell property are also the business area of property agents, due to the lack of potential buyers, many properties have not yet been sold.
But the truth is, the real estate business has an active competitive market where potential home buyers, landlords and renters need all the help they can get.
This series of conditions may interest you to become a property agent. Below, you will learn how to do just that.
Guide to Becoming a Property Agent
There are no special qualifications to become a real estate agent, in fact you can do it if you’ve only had a basic education.
However, for lobbying skills and understanding the scheme of notary or tax rules, you should have received secondary education.
1. Take a Property Agent Class
This class is not a lecture program for 3 or 4 years like in Europe or America. You just study short classes for 1-2 weeks.
Several large property agents with inter-city networks usually hold regular property agent classes, you can see the information on their website pages.
Even now there is certification for property agents through the collaboration of the Professional Certification Institute (LSP) and the Indonesian Real Estate Brokers Association (AREBI).
By having a broker certificate, aka property agent, you can establish cooperation with the government and companies.
Not only limited to prospective personal housing buyers, but will also expand the range of your property such as plantation land, industrial locations, offices, etc.
2. Maintaining a Property Agent License
If you frequently work with government and private companies, you should maintain your license.
Usually it has to be renewed every two to four years. But there are also many property agents in the area who don’t have a license and don’t even know how to get a license.
The limitation of those who do not have a license is that they can only become property agents at the local level.
They can only reach local property entrepreneurs who need marketing assistance for their newly built units.
Or just a broker to connect land or house sellers with potential buyers.
But it’s different if you have a license as a professional broker.
You can collaborate with other institutions, you can even set up a kind of property agent office that educates potential new agents and maximizes marketing in a professional and trusted manner.
3. Work With Companies
Once you get your real estate license, you will most likely be best off if you start your career as part of a brokerage firm.
While you could theoretically start your own real estate business, doing so too early may not be a career risk worth taking.
Clients may be hesitant to trust real estate professionals who do not have a successful track record or trustworthy supervisors.
When you join a company, you are actually starting to build your career and professional name.
At a company, you will work under the supervision of a state-licensed broker who holds you to legal and ethical standards.
You can also forget about the stress of generating leads as a personal real estate agent. Because usually a company already has a list of prospects that just need to be followed up.
Business Tips – Professionalism at Work
In some cases, working for a company means you can forgo the other expenses you’ll need when opening your own real estate agency business.
After all, the broker has all the necessary infrastructure ready to go.
If you’re early on starting your own real estate agency business, you may need to pay the company ongoing fees for desks, websites, marketing, and more.
However, career schemes in companies usually apply a minimum salary limit and a sales commission every time you successfully sell a property.
4. What do real estate agents do?
Those pursuing a career in property or real estate sales usually choose to become licensed as a broker or sales agent.
The two jobs are similar in their responsibilities. But large brokers like Raywhite usually have more experience in the industry than agents and are licensed to manage their own real estate business.
Sales agents must work with brokers, and many agents become brokers after gaining several years of experience and obtaining a broker’s license.
For both brokers and agents, the demands of the job are as extensive as the sales process itself.
People hire real estate professionals because the process of buying, selling, and renting properties is nuanced and time-consuming.
Brokers and agents can help ensure that no part of the process is overlooked.
The work of a broker or agent begins with a request by a potential client and does not end until the property is bought or sold and all terms of the purchase contract are met.
Agents and brokers are responsible for advising clients on various aspects of the local market, helping clients compare properties, and brokering negotiations between buyers and sellers.
They are also responsible for maintaining an up-to-date and detailed portfolio of properties for sale.
Promote properties with open house and listing services, and prepare documents such as deed and purchase agreements.
Real estate professionals must be knowledgeable about the markets they work in, with a thorough understanding of quality of life factors.
Such as crime rates in the area, the nearest school system, and access to services such as public transportation, hospitals, and grocery stores.
It’s also important for those working in this field to stay current on financing trends and the best mortgage options, government programs, zoning regulations, and fair housing laws.
Because trends and laws in the real estate industry are dynamic and prone to change. Brokerage associations require agents to participate in continuing education programs to maintain their licenses.
5. Where Can a Real Estate Agent Work?
About 58% of real estate agents were self-employed in 2020, while the rest worked for real estate companies.
Sales agents, who must work for brokers, usually find work in brokerage offices, leasing offices, or other real estate firms.
Because of the huge differences in the real estate market in different areas, workplaces in this industry can range from one-person businesses to large corporations with many branch offices.
Some brokers have franchise agreements with national or regional real estate companies where the broker pays a fee to be affiliated with a widely recognized real estate organization. Such as Raywhite, Century 21 Indonesia, Era Indonesia, and Promex.
Regardless of where a broker or agent works, they usually spend a large part of their working day out of the office, searching and showing properties or holding meetings with clients.
Sales agents who are new to the industry may also spend a lot of time at networking events to build a reputation in their community.
Real estate professionals are notorious for working long and irregular hours, as they must be available to clients on the weekends as well as after hours.
Best Investment For Remaining Thr – Property Business
Many agents and brokers work more than 40 hours a week, although some continue to work part time in real estate as well as work other jobs.
Brokers and agents derive most of their income through sales commissions, which depend on the type and value of the property being sold.
Real estate income depends on the area in which you choose to work, the experience you have in the industry, and how motivated you are to sell.
Part Time Property Agent
Some property agents in the area do this work as part time, while still working in offices, hospitals, journalists or schools.
They see this as a job with an uncertain income, so it can’t be a monthly benchmark.
There are times when they get a lot of sales this month, but the next month it’s zero.
So the activities of local property agents are a secondary source of finance for those who maximize the power of social media to showcase their wares.
Armed with accounts on local property forums or large property sales websites, they offer each other assets in the form of houses, land, shophouses.
In some cases, one property can be brokered by many real estate agents, it doesn’t matter as long as the property owner agrees with the same price.
Becoming a real estate agent is an interesting career choice, whether you are going to have a career at a large brokerage firm or become a local real estate agent.
With Indonesia’s economy increasing after the pandemic, it is hoped that property purchases will also increase.
What must be taken into account by property entrepreneurs is the affordability of prices, if you make a new property such as a house at an expensive price, of course the segment of potential buyers will be smaller.
So now a lot of housing is located in places a bit outside the city to get land prices that are still relatively cheap so that property prices can be kept down.