If you’re wondering how to land a career working in property or real estate the short answer is – a lot of hard work. This is one of the most difficult industries to be successful in, especially for those who are running their own company. The most important part of the whole process lies in your preparation. To succeed in property and real estate you need to do your research. That includes your competition (of which there will be many), your potential partners, your target audience, and your unique selling point (USP).
It is advisable to work at a property development firm or estate agents to gain some experience before starting your own company, however this isn’t an essential path. But learning about best practice, legislation and the industry standard can help you develop your own brand and hit the ground running a lot more smoothly.
What qualifications and skills do I need for a career in Property & Real Estate?
To become a real estate agent you don’t need any formal qualifications, however it would greatly support your application if you gained a relevant degree from a university. Not only can this show future employers you know about the industry, but potential clients as well. Communication and interpersonal skills will benefit you greatly in the role. You will be someone who makes regular contact with customers, either over the phone or face-to-face. You need to have very natural sales skills. Sometimes it’s about selling yourself as a trusty estate agent, rather than just a house.
Property jobs can include a wide variety of trades. Most people might start out as plumbers, electricians or plasterers and decide to start renovating derelict houses. To be successful in property there is less need for a degree, and more need for commitment, trade skills or contacts in the trade, a keen eye for a bargain, and investment. Getting started can be very difficult because it requires financial investment. Then you have to actually sell or rent out the property to start gaining an income. The more trade skills you have yourself, the more money you can save by doing the work yourself.
What types of jobs can I get in Property & Real Estate?
There is a wide variety of jobs available in the real estate industry and they can take you on a large number of different paths. If your strong point is sales skills and being a people person, being a real estate agent could be the perfect fit for you. However if you’re more interested in the legal side of things and handling the large amount of paperwork involved in a house sale, then working as a surveyor could be one potential job. Some jobs to consider would be:
- Estate Agent
- Mortgage Advisor
- Real Estate Broker
- Home Inspector
- Leasing Agent
Additionally, if you want to work in property development then there are many types of jobs in property that you could work in. You could choose to go down a skilled trade route and apply skills in carpentry, decorating, or bricklaying for example. Or you could work as more of an investor, who finds properties at auction and then pays others to renovate them to generate a profit. Be sure if you have any work done or do it yourself you follow building legislation and ensure everything is legal and safe.
What are the career prospects for a career in Real Estate or Property?
The first thing to remember is careers in property and real estate can be very tough to begin with. It’s a highly competitive market and often more experienced heads prevail. But it can be very worthwhile if you do stick with it. Many self-made millionaires in the UK have done so through the property industry. Real estate jobs often work on a commission basis so once you’re working with more high-end properties your salary will increase greatly.
The starting income can be as low as £20,000 per year. But on average most experienced professionals in this industry earn between £35,000 and £60,000 per year. Property management or estate agencies managers in London can earn in excess of £100,000. If you choose to work as a freelance property developer then there is no cap on how much you can earn in a year. It all depends on how much time, effort and money you can afford to put into each project.
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