What is Real Estate?
Real estate can be defined as any piece of land along with the buildings, structures and/or natural resources it contains. The three main categories of real estate are as follows;
- Residential Real Estate – houses, apartments, condos, etc.
- Industrial Real Estate – factories, farms, mines, etc.
- Commercial Real Estate – offices, warehouses, retail stores, etc.
What Does a Real Estate Agent Do?
The best-known job in real estate is that of the real estate agent and there are two main types; licensed and registered. A licensed real estate agent is authorised to buy, sell, lease, or manage a property on behalf of their clients and sometimes even act as an auctioneer.
A registered real estate agent is employed by a licensed real estate agent to carry out tasks on their behalf. Each state and territory in Australia has its own specific laws and regulations regarding real estate license and registration requirements.
Daily tasks of a real estate agent can include meeting with property owners, inspecting properties and listing them, analysing market trends, running open house viewings, and conducting auctions. While most real estate agents work regular business hours, they often need to be available on evenings and weekends to meet with buyers, sellers, and prospective tenants. Real estate agents often act as a mediator between an owner and tenants in rental agreements, ensuring everything is properly managed and acting as a bridge for communication between the two parties.
To do this difficult job effectively, agents need to know everything possible about the properties they are dealing with, from how and when they were built to details regarding any renovations that have been made. They also need to be up-to-date on the latest market values, building code regulations, real estate practices and know as much as possible about the local area.
Real Estate in Australia
Australia’s real estate industry includes over 90,000 agents working in every part of the country (32.6% in New South Wales; 25.2% in Queensland, and 22.8% in Victoria). The average working week is 46 hours long, while the average salary is $77,461 per year and real estate agents also receive a commission on successful sales on top of this. Commission rates vary widely, with Tasmania currently boasting the highest average commissions at 3.25%, followed by Queensland (2.45%) and Western Australia (2.44%).
While the real estate industry in Australia is set to undergo plenty of changes in coming years, the future certainly looks bright, with over 120,000 real estate agents expected to be employed across the country by 2026, an 9.5% increase from 2019.
Course of Real Estate
Working in real estate can involve dealing with some extremely valuable assets, which is why extensive training is required. Aside from the necessary licensing and registration protocols, 66.2% of Australia’s real estate agents have completed a Certificate III course or higher. A popular course in real estate is the Certificate IV in Property Services (Real Estate) CPP41419, which offers an in-depth overview of all relevant information regarding the industry, practices, and management.
Real Estate Certificate
Certificate-level real estate courses include everything from getting properties ready for sale and conducting appraisals through to negotiating transactions and preparing property records. A Certificate in Property Services, for instance, will often cover a range of areas including managing a property, marketing, and sales techniques as well as auctioneering. Best of all, these popular programs can be completed in one to two years and will prepare you for roles as a licensed real estate agent.
Real Estate Diploma
Those looking to move into management roles or even start their own agency should consider investing in a real estate diploma. These widely-respected programs such as a diploma of property can take around two years to complete and will go into detail regarding the core concepts of real estate and property management. They also cover the latest developments in real estate markets and regulations as well as the fundamentals of running a real estate business.
Real Estate Bachelor Degree
Whether you’re interested in learning how to become a property manager, are looking for an agent’s representative course, or wish to study an online real estate course while you continue working your current job, you are sure to find what you need right here through some of the high-quality courses offered by our providers. A Bachelor of Property and Real Estate, for instance, will fully prepare you for a career in real estate, including areas of property investment, economics, property valuation, management, and property law.
Is a Career in Real Estate Right for You?
To thrive in the real estate and property industry, you need to have a talent for connecting with people as well as a genuine interest in helping them achieve their goals. Strong communication skills and high-level organisational abilities are vital, as is possessing a keen sense of detail and being someone who’s comfortable working as part of a team but often without direct supervision.
Think you can handle a real estate career in this challenging profession? Get your Australian real estate license in any state across the country such as VIC, NSW, QLD, and more. Learn how to become a real estate agent, property manager, or even appraiser, and kickstart your career in real estate and property.
So, what are you waiting for? Find your real estate course online, sign up and enquire today!