Real Estate Agent to Principal
According to a recent Real Estate Business poll, more than 75% of real estate agents plan to start their own real estate business. Does this include you?
Industry leading REAA trainer, Rachel Ramsey warns real estate agents who want to become a licensee/principal need to recognise the difference between sales and management level in the real estate industry.
“From past observations of successful agencies in NSW, ACT, and QLD, there seems to be a consistent trend that the real estate licensee is NOT an active selling principal. As a real estate principal, you need to know how to use your employee’s skills and strengths to help drive growth. If your agency depends on you to make sales and keep the doors open, then you don’t have a business, you just bought yourself a more stressful job” said Rachel.
Before moving into management, real estate agents should soak up as much management knowledge as they can from their current principal and seriously consider professional development training.
Enrolling into specialty courses such as a Sales Professional Course, Property Management Courses or a Coaching/Leadership session will allow you to understand every aspect of a real estate business, not just sales.
“Running a business is more about people management than anything else. If you don’t know how to recruit the right people, employ them, provide support, mentor them and know the basics in every aspect of your real estate business, then you will quickly find yourself in hot water.”
A common path to finding yourself in hot water is the little to no attention paid to the property management department.
“From a business owner’s perspective, the rent toll is the biggest and most important asset to a real estate agency. REAA’s Senior Property Management Program provides a fantastic snapshot of how rent rolls are valued and how you can increase profitability in your real estate business” said Rachel.
Real estate is a dynamic, hard-working industry and our real estate students are acting upon this by adding the QLD Full Licence to their qualifications. Having the full licence not only enables you to become a real estate principal, but also ensures success through systematic, disciplined and knowledgeable real estate skills.
If you are currently a real estate sales person or property manager and feel you don’t have the skills to open your own agency, additional training in the areas you are lacking is vital. Click here to find out more about REAA’s specialty courses in addition to the Upgrade Course – all of which you need to complete to become a successful real estate licensee.
Just starting in out in the Real Estate Industry? REAA delivers the most effective training method for real estate courses, enabling you to understand, complete and become competent in your QLD Real Estate Certificate.