Love To Work In Real Estate? This Is How To Get There

People who work in the real estate industry describe it as a vocation that gets into the blood, and despite the long hours and disappointments when a sale falls through, they still find it exciting and challenging. For those who work hard, and approach their craft with intelligence and integrity, it can be a rewarding career, both personally and financially.

Working in Real Estate Involves Government Regulation

Real estate is also an industry that is important to our economy. Buyers and sellers must be confident that their investments are protected from unscrupulous dealings. We must ensure that people entering the industry understand their responsibilities. Becoming a real estate agent in Western Australia is regulated under the Real Estate and Business Agents Act 1978.

Entry level usually starts when an individual wants to work as a real estate sales representative. To do this, the person must be registered and work under the supervision of a licensee like Bunbury Real Estate. Just as an example, we may have an administrative staff member who wants to move to sales, and we have agreed to give that person an opportunity. They start the registration process.

Age and Character Requirements

To get registration, a person must be over 18 years of age, be of good character and fully understand the demands of the legislation. To verify character, the Commissioner for Consumer Protection requires a current Australian police check. If any issues come to light, the applicant must produce further evidence or even attend an interview, to explain the circumstances.

Formal Qualifications

There are also formal qualifications required for registration. These are successful completion of the Sales Representative Registration Course, a degree conferred by some WA universities or specific modules from the nationally recognised Property Services Training Package. These modules must be delivered by an approved training provider.

Next Level – Real Estate Agent

An individual can also apply for a licence to operate at the next level, as a real estate agent. The process is similar but with more stringent requirements. The age and character requirements are the same, but higher academic qualifications are required. Diploma or degree levels in the relevant disciplines are necessary as well as documented practical experience.

Applicants must also provide a statement of assets and liabilities to ensure they have the financial ability to conduct a real estate business. An independent registered auditor must also be appointed to audit the agent’s trust accounts.

Registration Process Supported by the Industry

We support the rigour involved in these registration processes, as we know that it protects our industry, and the reputations of the many excellent people working in real estate. It also reduces the likelihood that unscrupulous individuals may establish themselves in the industry.

Helpful Hints To Getting The Right Agent For Your Property

When you are looking for an agent to sell your property, or to find you a suitable place to buy or rent, choosing the right agent for your needs can be a bit like buying a lottery ticket. There is usually more than one real estate agency with an office in the local area, as well as multiple agencies dipping their toes in the market via the internet. How can you possibly sort through all the possibilities and choose the right one for you?

 

Professional Industry Body Generates Confidence

 

Fortunately, there is a solution. The Real Estate Institute of Western Australia (REIWA) is the peak body for all real estate professionals in the state. This member-owned organisation was established in 1918 and today it represents over 90% of the agencies operating in Western Australia. When you choose a member agency, there are protections and benefits that come with that choice.

 

As a member organisation of REIWA, we offer our clients a superlative level of service, specialist employees who work together as a team and in-depth knowledge of the local market. When you choose Bunbury Real Estate, you get the benefit of our membership and all that it entails.

 

Member Benefits – Access to Latest Market Information

 

Firstly, we have access to the latest market information and sales statistics. You can be confident that when we do an appraisal of your property and suggest a pricing structure, we are using up-to-date figures. This allows you to get the best possible price for your property relative to its style, condition and location.

 

Standardised Contract and Settlement Documentation

 

Secondly, the contracts and other documentation we use when we act for a client are all owned and controlled by the REIWA. This means your transaction is being conducted using industry-standard documents that have been thoroughly checked by legal experts, so there should be no complications during the sales process.

 

Ongoing Staff Training Keeps Agents Up-to-Date

 

Further benefits to clients are that our staff members are required to update their education continually through various training programs, so that we can provide you with better advice and service. For example, our agents would be expected to ask questions about things such as easements, access to private lanes, the existence of resumption notices and other issues. They are also up-to-date with legislative changes.

 

Maximum Exposure on the Web

 

We also list properties on the REIWA website as well as our own, giving our clients maximum exposure to interested buyers. To get the best possible result for your property, choose an agent that is an REIWA member and also who also has a presence in your area of interest. The combination of professional knowledge and ethics, as well as local detail, gives you the best chance for a top result.

Are You A Renter Or An Owner?

It’s a lifestyle choice, deciding whether to buy a home or become a renter. They both have their positive and negative aspects and today Bunbury Real Estate offer up some information that may help you decided which side of this line you fall.

Now this doesn’t mean that once you make that decision you can’t jump to the other side at some time in the future. Our circumstances and situation can change and we must be adaptable.

Are You An Owner?

It’s a fact that if you own a home you have made an investment in your future that will pay big dividends. Property increases in value year in and year out; that’s a fact that no one can deny.

Whether you are a single home owner or investor you can sit back and relax, knowing that your own little kingdom will support you and protect you and your family for many years to come. This needs to be weighed against the responsibilities of owning said property. This will include:-

  • Mortgage payments
  • Insurance payments
  • Rates payments
  • Maintenance of property and its grounds.

If you want to go even further, as a property owner you are entitled to do what you wish with the property.

You can add improvements such as a shed, patio, or deck, cubby house for the children, swimming pool and fencing. You can even go so far as to do extensions to the property to make your home life more comfortable. You can also put a nail in the wall to hang a picture.

Are You A Renter?

When you are a tenant you never actually own the asset but there are really only three responsibilities you need to take seriously. They are:-

  • Paying the rent on time
  • Keeping the property neat, clean and tidy
  • Paying contents Insurance for your own possessions.

You cannot add improvements, which means that you take what you rent and make do with this. The upside to this is you don’t invest any more of your time and money into the property apart from keeping it clean and mowing the lawn.

If you have any problems at all such as electrical, plumbing, leaking roof or guttering, you can relax knowing that this will be taken care of by your landlord.

When you rent you can move more easily from spot to spot, which may be advantageous if you are likely to transfer or even if you simply don’t like the area.