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You're an accomplished real estate agent. You love what you do, and you're good at it. But now, you're ready for the next big challenge. You're ready to expand your influence and dominate the market. The good news? You have options. There are many different ways you can take your real estate career to the next level. Perhaps you're keen to become a director. Or maybe you've set your sights on opening an agency of your own. Or perhaps becoming a buyer's agent is the direction you want to take. Whatever the next chapter holds, you'll likely need a few extra credentials to get you there. Let's explore these in more detail.
Three ways to level up
First, let's take a look at the career paths available, starting with agency director or senior agent.
1. Get promoted to director or senior agent
In this role, you'll take on more of the behind-the-scenes operations. You might list and sell properties, advise sellers about their sales and marketing options, assess buyer needs, and help clients navigate the market. These are some tasks you're probably already familiar with, but as a senior, you'll have a little more autonomy and responsibility.
In addition, you'll become a mentor to agents just starting their careers. You might offer them guidance and help them learn the ropes.
2. Open your own agency
Another option is to open your very own agency. For many, this is the ultimate goal. It gives you a huge amount of independence to do things your way. You can decide on the types of properties or clients you'll specialise in. You can deliver the level of service you believe your clients deserve. And you become your own boss—you work your own hours.
The day-to-day responsibilities will also be yours to handle. For example, you'll need to hire, train, manage, and inspire staff. You'll need to run marketing initiatives and network with the local community.
The rewards for running your own agency are immense. It's an opportunity to build a real legacy and help people in your local area achieve their property ownership dreams.
3. Become a buyer's agent
Finally, you could become a buyer's agent. You could do this full-time or as a side business.
Navigating the real estate market can be tough for buyers at all stages of their home ownership or investing journey. Prices move quickly, and in many areas, competition is stiff. A buyer's agent represents the buyer's best interests by:
- Listening to the buyer's needs, wants, and limitations
- Setting realistic expectations by providing market insight
- Looking at what's available and recommending properties to the buyer
- Negotiating on the buyer's behalf with the seller and seller's agent
- Ensuring the buyer pays a fair market price for the property
Which path is right for me?
Not sure which career path is the best choice for you? Ask yourself these questions:
- Am I ready to step into a senior role? Am I comfortable taking on more responsibilities, and do I have the time to do it?
- Is being my own boss important to me? Am I prepared to cover all the day-to-day operations that come with running an agency?
- Do I want an entirely new career path? Or am I looking to level up in my existing role or take on extra clients on the side?
Use your answers to the above to make an informed decision. For example, if you crave the freedom and independence of being your own boss, maybe it's time to open an agency. But if you love where you work and want to move up the ladder, chasing a director or senior role might be a better fit.
Get the credentials you need
The more knowledge you have, the better you can serve your clients. So if you are ready to take the next step in your career, it's time to start weighing your education options.
How to become a senior agent
Transitioning to a director or senior role means taking on extra responsibilities. You'll need to know the real estate industry—as well as the business management side—inside and out.
While not always compulsory, earning a diploma (see the list below) gives you a competitive edge. It also equips you with the deep insight you need to thrive in your new position. Diploma courses differ from state to state.
Keep in mind that some agencies have a policy that requires you to earn a diploma before you're promoted. This varies by agency, so be sure to check with your boss.
How to open your own agency
If you’re ready to embark on a real estate career on your own terms, you must meet the educational requirements established by your state’s governing body. Completing the required course and satisfying any eligibility criteria outlined by the regulator will enable you to apply for your licence.
The course you'll need to take is:
- Victoria: Diploma of Property (Agent Management) CPP51122
- New South Wales: Diploma of Property (Agent Management) CPP51122
- Western Australia: Diploma of Property (Agent Management) CPP51122
- South Australia: Land Agent course
- Australian Capital Territory: Diploma of Property (Agency Management) CPP51122
- Queensland: Real Estate Agent Licence course CPP41419 Certificate IV in Real Estate Practice
How to become a buyer's agent
Becoming a buyer's agent is a rewarding path to take. And while a buyer's agent course is not mandatory, it's a great way to gain the extra skills you'll need for this role. It can also help you stand out from your competition and win the trust of potential clients.
There is one caveat here. If you'd like to be a buyer's agent as a side business, you need a license. To get a license, you'll need to complete the state-specific diploma course listed above. If you don't have a license, you must be affiliated with an existing agency to work as a buyer's agent.
Take the first step today
Progressing in your career is exciting and daunting all at once. There's so much opportunity in the real estate industry, and with a little extra knowledge, you can reach your goals in no time at all.
So, take the first step in your continued education journey today. Enrol in your state's diploma course or the buyer's agent course. When you've earned your credentials, you'll be unstoppable. Refer to your state specific licensing body and contact Entry Education (RTO:41529), the largest real estate course provider in Australia.
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