One of the most common questions we encounter is, “Is now a good time to start my real estate career?”
Many believe that market conditions heavily influence a Real Estate Agent’s success, with a booming market perceived as more favourable than a cooling one.
However, based on our experience, the ideal time to embark on a real estate sales career is less about the state of the market, and more about the potential Agents state of mind – one when you are fully committed to dedicating yourself 100% to this new path.
Booming Markets and Changing Market Conditions:
A booming real estate market, like the ones we witnessed in 2021 and 2022, may entice many people to join the industry due to increased opportunities.
Conversely, changing market conditions, such as the one experienced in 2023 (a return to normalcy), might discourage some from joining the industry, influenced by media reports (which should not be the basis for major decisions).
Challenges in Different Market Conditions:
Both booming and quieter markets present different challenges to real estate salespeople.
Booming markets have plenty of listings and sales, but the competition among agents is higher.
Quieter markets, on the other hand, have fewer agents but also potentially fewer sales opportunities.
Timing and Success Factors:
The right time to start a real estate career is not solely dependent on market conditions.
The key to success lies in your commitment and dedication to your new profession. If you are 100% committed to pursuing this career, now is always the right time.
Key Steps to Success:
To begin your journey, you must obtain the relevant registration in the state or territory where you intend to sell.
These qualifications are available through RTOs (Registered Training Organisations – like us, REAA), and they offer online self-paced or hybrid in-class (or virtual) learning options.
After securing your registration, the most crucial factor determining your success is the additional sales training you undertake beyond the basic registration course.
Seek out a comprehensive training program that covers all aspects of real estate sales, providing you with essential skills, dialogue training, and easy-to-implement structures and procedures.
Look for an online course with video content and downloadable audio for convenient revision.
An ideal training program should cover the following topics:
1. Motivation, mindset, and planning
2. Productivity strategies
3. Prospecting for listings
4. Winning listings effectively
5. Managing sellers and the sales process
6. Negotiation skills
If you’re ready to start your Real Estate Agent career, you can get started with us today. Our Real Estate Courses offer all of the key components listed above and will leave you as a valuable addition to the Right Real Estate Businesses.
Choosing the Right Real Estate Business:
The second factor influencing your success is the real estate business you choose to start your career with. Aim to join a reputable business that values ongoing training, offers strong leadership, and provides a fair remuneration structure.
To sum up, the state of the market should not be the determining factor as to whether now is the right time to enter the rewarding Real Estate Industry.
The most significant factor is your dedication and preparedness to put in the hard work.
If you are ready to take the plunge and committed to making it work, then now is undoubtedly the best time to begin your journey.
As the old Chinese proverb wisely says, “The best time to plant a tree was 20 years ago. The second best time is now.”