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.