Moving up the property ladder is important for many people; therefore, estate agents are big business in the UK. If you’re interested in the property market and want to turn your passions into paid work, becoming an estate agent could be your next big career move…
The UK estate agent industry is thought to be worth around £11.1 billion. It has experienced a growth rate of approximately one percent per annum in the five years leading up to 2019. So, if it’s time for a career change and you’ve always been interested in properties, why not consider starting your own business in the lucrative sector?
By the end of this article, you should have a better understanding of how to become a successful estate agent. Before we get started, let’s quickly run through what your day-to-day duties will involve.
What does an estate agent do?
Put simply, estate agents market, sell and let properties. Typically, an estate agent’s day will look something like this:
- Dealing with customer enquires
- Viewing properties and taking photos
- Valuing properties
- Providing clients with sound advice
- Advertising properties
- Giving clients tours around properties
- Negotiating with the buyer and property owner to agree the best price
- Managing the property
Estate agents can either specialise in residential properties and deal with private homes, or commercial properties and manage office, industrial and retail space, or they can focus on land and estate management.
Lucrative business opportunity The UK estate agent industry is thought to be worth around £11.1 billion
For a rough guide, in the UK, trainee estate agents earn between £14,000 and £20,000 plus commission, and experienced estate agents earn between £25,000 and £60,000 plus commission. There is scope to earn up to £100,000 for estate agents in high-end agencies or managerial positions.
6 tips for becoming a successful estate agent
1. Make sure you’re right for the job
The nature of the job involves communicating with lots of different people. Therefore, to be a successful estate agent, you need to possess excellent people skills. There are lots of other personality traits that would also be beneficial to the role. To see a full rundown, see another one of our articles here.
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2. Gain experience
Having experience in a related field would definitely increase your chances of getting employed. Such areas include customer services, sales, administration, property law, building surveying, town planning and civil and structural engineering.
There are certain rules and regulations that need to be followed, so having experience in the legal sector would be helpful. Make sure you’re confident with the local property market and area. This includes information like where the medical practices, emergency services, schools and shops are.
3. Get qualified (if you want to)
Having some relevant qualifications may be advantageous, although it isn’t essential. This is why it’s a popular career choice for individuals from all walks of life, including recent graduates and those who simply fancy a career change.
If you did want to gain a specific qualification, you could complete a Level 3 CPC Certified Estate Agent Diploma and the Estate Agency Training Course. You don’t need any previous experience to be accepted onto these courses.
Some big agencies offer graduate schemes and apprenticeships. Or you could choose an estate agency you like the look of and work your way up. Start off helping with viewings and working on Saturdays and then, if you show dedication and commit to training, you could move up the ranks in no time.
4. Be aware of the challenges
If you’re to become a successful estate agent, you need to be prepared for the challenges of the job before you start. For starters, it isn’t always a 9-5, Monday-Friday job. It’s possible that you’ll also have to work overtime or on Saturdays when it’s busy. However, this often means more sales, therefore more commission.
The job can also involve lots of multi-tasking. When you’re not trying to make sales, you’ll be following up leads and doing a number of other jobs, so if you struggle with organisation and time management, this could be problematic.
5. Show off your personality
As we’ve established, you don’t need any specific qualifications or training to become an estate agent. At the end of the day, you’re helping people make one of the biggest and most costly decisions of their lives, so it’s important to show drive, passion and empathy.
Therefore, when being interviewed for the role, make sure to come across the right way. Think about what your ideal estate agent would be like and channel that. With that being said, make sure it feels natural and you’re not trying to be someone you’re not. Otherwise, you risk being unhappy and unsuccessful further down the line.
6. Make connections on social media
Social media is great for networking, keeping up to date with industry news and participating in discussions. Estate agent recruiters will often check social media for potential candidates. It’s a good idea to create a LinkedIn account, show your interest in the subject and get your name out there. Doing this will prove that you are serious about your career and are doing everything you can to become a successful estate agent.
Start an estate agency franchise
If you’re already an estate agent but want to take your career to new hights, you could consider starting an estate agent franchise. Or, if you don’t already have experience as an estate agent, that’s fine too, as most franchise opportunities are open to entrepreneurs who are completely new to the role.
Three of our top picks are Century 21, Nicholas Humphreys Estate Agent and No Letting Go. Let’s now take a look at their training packages so you know how they help their franchisees become successful estate agency business owners.
1. Century 21
You don’t need any previous experience to become a Century 21 franchisee, as you can utilise its comprehensive training and support package. The business development managers will help you get to grips with the relevant regulations and with what you’ll be doing day to day. Once you’ve opened your office, the marketing team will develop a press release for your local area.
To read more about the opportunity and request more information, click here.
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2. Nicholas Humphreys Estate Agent
Again, this franchise is happy for its franchisees to be completely new to the industry, so long as they display the right personality traits. You’ll take part in a month-long training programme at its franchise head office. Then, for the first month, you’ll receive in-field launch support for three days a week and then visits from a dedicated launch support manager for two days a week in the second month.
To register your interest and see a full breakdown of what you get for your investment, click here.
3. No Letting Go
You guessed it; no experience is needed to be accepted onto this franchise network either. The No Letting Go training academy provides on-the-job training that covers report building, tablet technology, industry legislation, sales and marketing and more. You’ll be supported with joint property visits and customer visits within the first year, so you don’t have to worry about being left to your own devices when you’re still a bit unsure. Click here to sign up.
Become an estate agent – it’s easy with franchising
These three franchise opportunities have highlighted how starting an estate agency business is the perfect career move for someone who’s coming from a different sector and wants to try something new. To see our full list of estate agency franchises, click here. And don’t forget to check out our other article ‘10 Traits of a Successful Estate Agent.’
Becky Martin, Point Franchise ©