How To Become A Good Real Estate Agent

The profession of a realtor is popular in the labor market. Free work schedule, no explicit income restrictions, constant change of scenery. Even from the 90s, the opinion came that it was not necessary to study to be a realtor. It is enough to want and you can immediately work. But since then the rules have changed. Now a realtor needs to undergo appropriate training in order to adequately compete in the market. Experts from Dream Design Property tell you what professions there are in the real estate business and how difficult it is to master them.

How many professions in the real estate business

Contrary to popular belief, a realtor is not a profession that you can enter from the street. An agent must have a set of certain skills, without which it is difficult to count on success. First of all, be sure to navigate the real estate market. New building, primary, secondary and foreign real estate differ in the area in which they are in demand, in the specifics of sales, and in several other parameters.

It is important to understand trends and know what objects will appear, how soon. You should understand the rules and methods of processing transactions that are effective when working with real estate, study the demand in each segment, navigate seasonal changes.

Agents also need knowledge of the current legislation, at least at a basic level. After all, without this it will not be possible to professionally advise the client. Mistakes made can be very costly.

Knowledge of marketing, psychology and business planning help the realtor to make his work productive. 

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In 2019, a state professional standard for real estate specialists appeared. It approved the qualification requirements.

The concept of “realtor” is neither among professionals nor in the professional standard. This is a derivative of the English word Realtor, which we use as a colloquial term or brand name. In the professional standard we are talking about specialists in real estate transactions. In the professional environment, the following specialties are distinguished:

  • Real Estate Agent;
  • Real Estate Broker;

What is the difference between real estate specialties

At first glance, all these specialties can be attributed to the realtor profession. But specialists have different functions and must have the appropriate knowledge and competencies. From the point of view of legislation, there are several specialties in the real estate business:

Broker. This is an individual or legal entity licensed to organize real estate transaction services. Most often, this is an entrepreneur or the head of a real estate company, who, in addition to working directly with clients, provides recruitment and professional training for employees.

Real estate agent. Can work independently or be part of an agency. His responsibilities include advising clients, studying real estate documentation, and interacting with credit institutions.

According to the Professional Standard 09.003, approved by the order of the Ministry of Labor of Russia of September 10, 2019 N 611n, a real estate specialist must have a certain set of skills and knowledge. This will allow us to provide services of the highest quality, to avoid errors in the preparation of documents and subsequent litigation.

According to the Professional Standard, a real estate specialist must:

  • Own sales techniques;
  • Understand the features of market monitoring;
  • Identify the needs of the buyer and seller of different segments;
  • Be able to conduct an initial check of the documentation;
  • Demonstrate all the qualities of the object to a potential buyer so that he can make an informed decision;
  • Study the history of the change of the last owners of the offered real estate;
  • Monitor new trends in the real estate market;
  • Monitor the status of payments of utility, tax and other payments;
  • Identify the presence of arrests at a potential object of sale;
  • Interact with financial institutions if the transaction is carried out with the involvement of credit funds;
  • Accompany the transaction.
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In addition, a real estate specialist must understand the peculiarities of collecting the necessary documentation, be able to perform objective cost calculations for the buyer and seller, and have negotiating skills. In order for all the necessary skills to be mastered in the proper amount, the law provides for mandatory training for realtors.