Why agents need more than sales skills in the current market
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Mar 19, 2019
Why agents need more than sales skills in the current market
A change in the market has prompted a shift in what is required to become a real estate agent, according to the director of Beller Property Group.
The property downturn is forcing a realignment of the traditional skills required to become a real estate.
Having come from a family of real estate developers, I have experienced the cyclical nature of market first-hand.
A common theme from discussions with his current peers was a concern that many agents lacked the experience to be successful in a challenging market.
We're seeing a lot of the younger guys who came in midway through a very strong market and made lots of money having to find new ways to succeed.
All the practices they had learnt don't work as well any more, so not only do they have to find the time to learn new skills, but they also need a developer or client that is patient.
November 2018 housing finance figures released by the Australian Bureau of Statistics indicated the value of total housing finance was down 2.5 per cent at $29.13 billion, with the value of new home loan for owner-occupiers down 1.4 per cent, and down 4.5 per cent for investor loans.
I think there will be a reduction in the number of agents throughout this cycle.
In our business, as well as with some of our competitors, we have already seen some of the less experienced guys move away into other careers.
They may come back at a later date, but right now they are looking elsewhere.
Unlike other industries where qualifications can take up to five years to achieve, the process to become a real estate agent can be completed in less than 12 months, depending on which state you are in.
However, the current climate means background knowledge of the industry prior to starting a course had become essential.
Some of the courses available just aren't enough to learn what the clients need these days.
You've got to have a strong understanding of property behind you.
If you can build a career and survive in this market, you will be very well equipped for when it turns.
This market can potentially build very strong careers.
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