How to Build a Career in Real Estate

Starting a career in real estate can seem overwhelming without the right guidance. If you are new to the industry and looking to learn from the best, then you’ve come to the right place! Adrian Wilson, Director of Ayre, has given the following expert insights into what you should be prioritising early in your career to lay the foundations for future success.

01 Knowledge is power

Some agents make the mistake of entering the industry based on what jobs may be available, rather than what market might be the right choice for long term career progression. Want Adrian’s advice? It’s never too early to focus on longevity! You might be thinking easier said than done, so here’s some steps to developing a career path that will fast track your success. Start with analysing your local market. How? By researching industry trends, identifying potential challenges or opportunities, and attending open houses. Make investigating all facets of property marketing in your area the primary concern. It’s important to see how the dominant agencies operate, and essential you do some number crunching. Find out what the potential Gross Commission Income is for your preferred market area. Don’t neglect how an area is influenced by the existing agents in its market. If an agent or team is dominating the space, reassess your ability to compete. Avoid areas where opportunities for gaining traction and securing market share seem slim.

As explained by Adrian, “Living local is an advantage, but if you’re going into a monopolistic market, think carefully about how you will be spending your energy. Is that market right for you, at this time?” If you don’t like your area’s stats broaden your area or reassess if a different area would suit your needs better. Once you know the ins and outs of what the market looks like, it’s time to start approaching agencies. If you can take this knowledge and demonstrate how you will put it into practice you will become far more appealing to agencies. Not to mention the increased level of confidence you will have in your ability to deliver results.

02 Teamwork makes the dream work

It’s important to find your footing early on. That’s why associating with experienced agents can set you apart from the crowd. Adrian offers this advice from reflecting on his own industry experiences. “I’ve seen way too many talented people start as a standalone agent, fumble around without proper guidance or structure, don’t get the traction they were hoping for and leave the industry within the first 1-2 years due to a frustrating or bad experience,’ he explains. This is unfortunately the reality for a lot of newcomers. However, it doesn’t have to be you! It is crucial to seriously consider beginning your real estate journey as a Junior Agent or Agent Assistant operating under a Lead Agent.  Staying in this position for at least 2 or 3 years will give you a wealth of experience and an opportunity to see for yourself how to successfully navigate the market for your preferred suburbs. If you’re lucky it could also be the beginning of a long term partnership.

03 Stay hungry

If you want to get on top and stay there you need to be constantly striving for success. Never delude yourself into believing there is nothing left to learn. Stay hungry by keeping an eye out for new opportunities to gain knowledge or set bigger goals. While new knowledge is instrumental in breaking ground don’t fall into the trap of neglecting the lessons you’ve learnt along the way. As Adrian points out, “Many agents lose sight of the detail when they get busy. Be an expert. It’s far easier to earn trust and win business if you know what you are talking about.” So how should you apply this advice? Be across everything in your market, not just signboards, but rental listings, development applications, council or infrastructure planning or strata by-laws if you have an apartment focus. When you become entrenched in all aspects of your work, success soon follows!

At Ayre, we’re always on the lookout for exceptional talent to join our team of apartment living specialists. Whether it’s our apartment focus, award winning marketing or career development and mentoring programmes; working with the team at Ayre is guaranteed to elevate you. The skills and expertise you will gain, will not only see you grow at a faster rate in the industry, but will be a platform to set the standard of service you provide to your clients throughout your career.

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