Use your people skills to build a dynamic and in-demand new career by studying a real estate course.
What do real estate graduates do?
After completing a real estate course, you’ll seek employment as a real estate agent or business broker – managing the sale, leasing and management of residential and commercial properties, and organising the sale of businesses. The scope and nature of your duties will depending on the size of the firm you’re working for, and the value of the properties you’re managing – in a larger firm, you may delegate tasks like managing advertising or contractual requirements to another team member, but take on those roles yourself in a smaller firm. Generally, you can expect to perform tasks like:
- Researching market trends and forecasts;
- Meeting with buyers to assess their needs and identifying appropriate properties or businesses;
- Coordinating and organising open houses, meetings, inspections and showings;
- Inspecting properties and advising buyers on the merits of properties;
- Accepting and listing properties and businesses for sale and lease;
- Offering valuations and advice for buying and selling properties and businesses;
- Drafting sale and lease contracts and specifying the terms of such agreements;
- Advising vendors of sales and marketing options;
- Cataloguing and detailing land, buildings and businesses for sale or lease and arranging advertising;
- Developing strategic marketing plans and consulting with creative stakeholders;
- Monitoring, managing and addressing tenants’ compliance with lease terms;
- Pursing rental arrears; and
- Developing and implementing business plans, budgets, policies and procedures.
You’ll find working in real estate rewarding and satisfying if you:
- Are highly organised and motivated
- Have excellent administrative skills
- Love working with people
- Have excellent communication and interpersonal skills
- Are proactive and autonomous
- Enjoy problem-solving
- Like taking responsibility
- Are enterprising and persistent
- Can focus on both details and the bigger picture
- Work well with a range of people
- Are resilient
According to the Australian Government’s Job Outlook, the real estate sector is large and growing. Employing approximately 88,900 people, the sector has grown consistently since 2005, with very high growth over the past two years, and Job Outlook predicts that trend will continue until at least 2020. Job Outlook predicts approximately 10,000 new real estate agents will be needed by 2020, indicating the broad availability of roles in the sector across Australia, and the relative security of employment in real estate roles.
According to PayScale, real estate agents can expect to earn between $32,000 and $80,000 per year, with an average salary of approximately $48,000 per year. Up to half of an agent’s salary may come from bonuses and commissions, in addition to a base rate.
PayScale notes that while earning capacity increases in line with experience over then first 10 years of an agent’s career, earning capacity remains constant from that point on, and falls slightly when an agent has been working for more than 20 years. Entry-level agents can expect to command a competitive salary, with agents who have fewer than five years of experience earning on average $47,000 per year.