Real estate agents are the people who connect buyers, sellers, land-owners and tenants and earn commission for doing so. If you want to become a real estate agent, you should consider the following factors:
What education do you need?
Although there are no notable institutions in our country that offer educational courses in real estate, there is one operating in Karachi by the name of the Pakistan Institute of Real Estate Management (PIREM), which offers certificates and diplomas in real estate management and construction.
A real estate broker is a self-employed individual who should have sufficient business knowledge, so getting a Master’s degree in business administration may prove helpful. It must be noted that along with business knowledge, gaining practical experience is equally imperative for a real estate agent to excel in the field.
What should be the first step in order to enter the field?
A real estate broker should get enough practical experience, which is gained when you actually start working in the market. For newbies who have just entered the field, it is advisable to work with an established estate agency either as an employee or as a partner. You can settle terms and conditions of working beforehand in order to avoid unpleasant surprises later. For instance, you can decide on giving a particular share of commission to the owner of the agency when you close a deal. This will provide you enough practical knowledge and experience to establish your own firm and goodwill in the market after some time.
Establishing your own agency
Establish your own agency when you think you have gained enough knowledge about real estate deals and you are stable enough to establish your own set-up. Having decided that, figure out your agency’s name, set up an office at your desired location, get your company registered, and start working as your own boss!
So, becoming a real estate broker is not as hard as it seems. In my view, knowledge of the industry and experience are the most important assets of an agent, which allow them to thrive in the market.
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In my knowledge, some of the most successful real estate agents/brokers are those who are also shrewd investor themselves OR have aligned with a syndicate of investors who can invest on their advise based on profit sharing.
Yes Shehryar that’s true…
Awesome article! These are some “must do” points to step in real estate industry to provide state of the art property solutions. Besides these, government must take some steps to bring awareness and knowledge of real estate among people. Thanks for sharing.
Good article with some important rules of thumb.
However, the reality is far different.
On the education front I have personally experienced brokers in our industry who cannot even read or write a lease agreement.
It’s fortunate if you find someone who is Matric pass and if he or she has a B.A well in this industry that’s equal to a PHD if you get my drift. 😉
im a real Estate consultant n starded doing after my ACCA n doing my internship/articleship
in my opinion to get job of just 15-25 thousands you have to do that but with full loyality not for few days n become rich in a day
Thanks shaista zulfiqar & others
I read your articles and its very useful and informative
On my Experience buyers decide in the first eight seconds of seeing a home if they’re interested in buying it. Get out of your car, walk in their shoes and see what they see within the first eight seconds, but anyhow thanks for this wonderful full blog, looking forward to your next blog.
Why are real estate agents not licensed? In the west, you have to obtain a real estate license before you’re allowed to practice. There are a lot of unprofessional real estate agents that are looking to make quick commission without having any real integrity. A lot of agents can’t even speak English or read and write Urdu, why are they allowed to practice in a place like Bahria Town?
Would you seek medical care from a doctor that isn’t qualified? Would you step aboard a plane where the pilot isn’t licensed? If you answered yes in your head to the last two questions, then why are there still real estate agents operating without the necessary qualifications? Licensing will help regulate authority and rules. Only the qualified should be allowed to practice.
If you have any thoughts or any more information about these concerns or know of an authority on this matter please reach out to me.