With the ongoing Covid-19 lockdown restrictions resulting in many left jobless, they are now forced to reconsider their career options and switch over into an industry that is still able to operate. One such industry which has experienced increased activity following the easing of restrictions is the real estate market.
Re/Max of Southern Africa has reported an increase of nearly 200 new sales associates during and after the lockdown. The company also concluded record-breaking reported sales totals for the months following the hard lockdown, attributed in part to pent-up demand and record-low interest rates.
Potentially lucrative profession
“Though it is not an easy option, a career in real estate can potentially be one of the most lucrative professions a person can pursue, provided one gets the correct guidance and support when starting out,” explains Adrian Goslett, regional director and CEO of Re/Max of Southern Africa.
For those hoping to make the switch to real estate, Goslett explains that in order to qualify as a registered estate agent, one must have successfully completed grade 12 as a minimum requirement. The qualification process includes a 12-month internship under a certified principal estate agent as well as completing a Further Education and Training Certificate (FETC): Real Estate (NQF 4) qualification – principal estate agents require an NQF 5 training certificate – and writing the final Professional Designation Examination (PDE).
Healthy dose of perseverance needed
Goslett cautions those who pursue a career in real estate against thinking that they will bring in much of an income within the first year of beginning their training. “While principal agents may share a portion of their commission with their rookie agents and/or pay a minimum wage, intern agents can only qualify to charge full commission on their sales after they finish their internship and pass their PDE,” says Goslett.
Even after qualifying, new agents will need a healthy dose of perseverance to become successful in this industry. “This is a business of high risks and high rewards. While you run the risk of going without an income for months while trying to secure a sale, the reward for that risk could potentially earn you more in a single day than a person earns in a year. A successful agent is one who is resilient and who has the financial discipline to survive the quiet months,” says Goslett.
“Real estate is one of those careers that can take a person from rags to riches. But, nobody said the job was easy. For those who get it right, the rewards will soon make all their efforts worthwhile,” Goslett concludes.