Real Estate agents indeed enjoy a lucrative career but as with other technical jobs, becoming the best in the field requires the know-how of all the nooks and crannies of real estate. Nevertheless, anyone with patience, wit, hardwork and a passion for real estate can achieve success in the real estate industry.
Having command over technical jobs first starts with the basics in terms of understanding the industry lingo and fundamental concepts that form the foundation of the entire conceptual framework. Similarly, anyone looking into becoming a real estate agent can do so by first learning about the basic concepts of the real estate industry and letting one’s self aware of the capabilities required for a real estate agent who knows how to sell and provides value to the customer. Let us walk you through the beginner steps towards becoming a competent Real Estate agent.
Acquiring the Real Estate license
To acquire a real estate agent license in Canada, the applicant must be at least 18 years old, be a Canadian citizen or have a permanent residency status. For the applicant to qualify for the license, he/she has to fulfill the educational requirements by preparing for exams through a series of courses dedicated to the pathway of becoming a real estate agent. It takes roughly between three to six months from the preparatory period to acquiring the real estate license.
The license requirement may differ from city to city or state to state so one must first study those or hire a consultant who could guide about the state laws regarding real estate licensure. In Ontario, the applicant is granted the license for a total of two years after the completion of accredited courses and is expected to excel in additional advanced courses during the training period in order to be eligible for license renewal at the end of the two year mark. Depending on the state, you may be solicited to take a theory and practical exam to qualify for the license.
Once you obtain the license, search for a brokerage company that will take you under its wing to provide practical resources and train you for the real estate industry through its expertise. The brokerage company may require you to complete a preliminary training before sending you off to fend for yourself independently into the real estate industry. Based on your province, the brokerage company will have to sponsor you for about 2-3 years as an agent. Though a point to note is that the timelines given may vary for every prospective candidate eager to build a business as a real estate agent.
How to build a brand name as a successful Real Estate Agent?
You have acquired the license and completed the necessary training period. Now what? Becoming a real estate agent is a full time job and should be treated as such. As with other service businesses, building a successful real estate consultancy business demands the provision of value to the customer. A competent real estate agent observes both buyers and sellers as customers and is willing to help both parties get a bang for the buck.
Where to find your ideal customer?
Networking is the lifeline for any business and more so for a service based industry like real estate. You have to be determined and consistent in building relationships with people. Below, we have mentioned some noteworthy strategies that you can utilize in acquiring your ideal customer:
- Establish a target market by conducting market research for the type of properties you specialize in. A market research will assist you in laying out a targeted marketing strategy
- Leverage social media by creating a social media presence through brand building, ad campaigns and answering queries
- Networking events for businesses are a gold mine, so attend any and every networking event hosted for the real estate industry. Communicate in a cordial manner and introduce the attendees to your work expertise.
- Try partnering up with local businesses like construction contractors, mortgage brokers, banks that can connect you to prospective customers looking into buying or selling a property.
- Build your position on real estate listing sites including SkyHub Canada to reach a wider pool of customers.
Is it Worth becoming a Real Estate Agent in Canada?
All businesses carry a risk-benefit ratio. Though lucrative, the Real Estate industry in Canada is a highly competitive field that asks for determination and a smart marketing strategy that outruns the competitors. There is no magic formula for success as a real estate agent however being a service based business, providing definitive value to the customer and building connections helps you fast pace your career to becoming a competent real estate agent. Consider the pros and cons of becoming a real estate agent in your province and decide whether you are up for the challenges involved.
