Your Top #9 Reasons to Invest in Real Estate Training
With bars, clubs, pubs and restaurants not to mention cinemas, entertainment venues, gyms, shops and so much more shut down until further notice, Queenslanders have more free time than ever before. While the stay-at-home directives and widespread closures and cancellations aren’t the ideal situation, they do present a great opportunity to spend more time to explore some new skills and training. At a time when many are managing reduced work hours, there’s never been a better opportunity to gain the skills necessary for a new career. So, have you considered a career in real estate? Check out our top #9 reasons to invest in real estate training today.
1) Real estate training opens endless possibilities: Regardless of whether you hope to sell multi-million dollar homes, manage property portfolios or act as a buyer’s agent, all real estate professionals will first undertake the Registration Course. The beauty of a one-program-for-all system is that if you ever tire of sales and want to transition to property management (or vice-versa, or into any other roles within real estate), you don’t need to go back to training. The Registration Certificate qualifies you to fill almost any position in real estate. This also means if you’re unsure which path you’d like to take, you don’t have to decide before enrolling into the program.
After you’ve completed training and received your Registration Certificate, you can hold onto it for as long as you’d like before stepping into the real estate industry. Even if you’re currently content with your line of work, having the Registration Certificate means you’re always ready to make the transition. You’ll need to keep your registration current with the Office of Fair Trading (OFT), but you’ll never have to complete the registration program again, no matter how many years pass.
2) It can be done in new-found spare time: As already mentioned, many of Australia’s favourite pastimes have been put on hold. In fact just looking at restaurants alone, Australians eat out an average of 2-3 times every week, which is already a lot of extra free time before considering what would normally be spent watching sport, going to the cinema and Saturday afternoon barbecues and backyard cricket. That free time spells opportunity. Of course, being unable to go out for dinner isn’t the ideal situation, but there’s no use sitting around waiting for restrictions to end. It’s the perfect time to make the most of the hand we’ve been dealt and prepare now for a new career at the end of (or even during) the COVID pandemic.
3) It can be completed in a matter of weeks: While a university degree will generally take a minimum of three years, a Registration Certificate course with The REIQ can be completed in as little as just two weeks. Naturally, that time will depend on prior skills and knowledge as well as how much time you put towards the training, but for those in a rush it can be done. At the same time, for anybody wanting to take their time and work at a more leisurely pace, the course offers that freedom too, with some students spending up to six months to complete the program. The choice is entirely in your hands.
4) It opens up opportunities for a wide array of jobs: It can’t be said enough – there’s definitely lot more to real estate than just selling homes. Commercial leasing, property management, commercial sales, buyers’ agencies, auctioneering, valuation, support staff and more are all avenues that open up to those who complete the registration course. From there, graduates can try their hand at numerous roles until they find the position that suits them. Later down the track, training can be revisited for a Licence Upgrade, which allows budding real estate professionals to instead run their own agency. Alternatively, if being a principal is your goal from the get-go, you can complete the upgrade at the same time as the Registration Certificate with what’s known as a Full Licence From there, the opportunities truly are endless.
5) Real estate is protected against recession: For decades, the Australian property market has been one of the most stable and secure options for investment. It’s true there have been downturns but never one we haven’t swiftly and robustly recovered from. Even when times are tough, the economy is down or unemployment is rising, people will always need a place to live. Many people will look to downsize into smaller homes while others will still have the purchasing power to acquire properties that may be made cheaper during recession. The point is that so long as property trading continues to take place, real estate professionals will still be essential. Vendors will still need listing agents, owners will still need property managers and investors will still need buyers’ agents. No matter how dire the economic outlook, there’ll always be work to be found in real estate.
6) Real estate is Queensland’s second biggest employer: Among small and medium enterprises, the real estate sector is the second largest employer in Queensland. As per the ABS, close to 50,000 Queenslanders are directly employed within the real estate profession – a number that grows year on year. As population growth and the construction sector continue to grow, so too will the number of jobs available within property and real estate. By its nature, the real estate sector will always grow so long as Queensland’s population does. Given Queensland’s current population growth (driven primarily by fertility rates and interstate migration) of 7%, which is higher than the national average of 1.5%, the real estate sector is looking as safe as houses.
7) Real estate gives control over employment: Even in times of non-pandemic, fears around job security in Australia are not unusual, affecting more than a third of all Australians. Highlighted earlier, real estate is an essential service and much less prone to redundancy. That said, there’s another bonus to being in real estate during difficult economic times – many real estate professionals operate as contractors rather than strictly as employees. This arrangement protects them from being made redundant because their wage is often commission only, meaning an agency won’t save anything on wages by cutting its staff.
Even those employees of a real estate agency have the power to control their employment, too. For example, if a retail store needs to cut costs it’s likely to first look towards one of its biggest expenses: wages. Real estate operates on a different structure, wherein it relies heavily on its staff – both agents and support staff – to generate revenue. Losing even a single agent means losing all of the revenue from that agent’s sales. This means agents who are willing to put in the effort to keep making sales even when times are difficult are proactively protecting themselves and their jobs by becoming an invaluable asset.
8) Both studying and working give flexible hours: Even before REIQ training moved online, students had the freedom and flexibility to study and complete assessment at a time that suited them. As mentioned earlier, assessments can be completed in your own pace. And now that training has moved into the digital space in response to the pandemic, the classroom time has become a series of webinars viewable on demand. Of course, students who do choose to participate in live webinars can have their questions answered in real time. After training, work in the real estate sector offers similar flexibility.
Real estate professionals are most certainly not tied to their desks. Between open-homes, routine inspections, client meetings and more, agents and property managers alike spend a lot of time outside of the office. Since those meetings and inspections can be scheduled by the agent to fit their routine, they can easily be worked around other daily tasks such as picking kids up from school, medical appointments or even lunch with an old friend. The ability to do fewer hours between 8am and 5pm but more hours late at night is a godsend for young parents and anybody else who craves flexibility around their work hours.
9) You get out what you put in: In both studying real estate and working in the industry, you’ll reap the biggest rewards if you put in the most effort. Students who are attentive, studious and willing to revise and relearn place themselves in the best position to hit the ground running, and when your career in real estate has begun that becomes doubly true. Agents and property managers who put in the extra yards with their customer service, go the extra mile with open-homes and inspections, and are always looking to learn and improve will quickly find themselves at the top of the pile of successful real estate professionals. Unlike many professions where hard work is often oversighted or rewarded with little more than a pat on the back, real estate offers material gains for those who put the most into it. It’s a rewarding profession where the sky’s the limit – and it all starts at training. So, what are you waiting for?