These days it’s hard to go anywhere without someone mentioning the state of the real estate market. It’s common knowledge that in Newcastle, like many other areas of the country, the property market is hot.
In fact, the Newcastle market has grown 9% in 2017 and is expected to grow a further 6% in 2018. Safe to say, there’s never been a better time to consider getting into the property game, whether as a buyer, investor or agent. But just what exactly do you need to do to join this exhilarating, yet highly competitive industry? Below I provide my top 5 tips for getting started in the real estate business and having a career with longevity.
- Get your licence or certificate
If you’re interested in pursuing a career in real estate in NSW there are certain educational requirements set out by NSW Fair Trading that must be met before you can apply for your licence. Reputable organisations that offer the prerequisite CPP40307 Certificate IV in Property Services (Real Estate) course include TAFE NSW and The Real Estate Institute of New South Wales (REINSW). Another great place to start is the two-day complete salesperson course run by the Real Estate Academy.
- Put yourself out there
As any real estate agent will tell you, the most important part of the job is building and maintaining relationships – with clients, sellers, other agents and business professionals. You always want to be considering ways to widen your professional network. I personally use social media to do this and have a presence on Facebook, Instagram, LinkedIn and Twitter.
If you’re just getting started in the industry, the best way to do this is to simply contact people who work in real estate and ask them for 15 minutes of their time. Ask them how they got started, what advice they would give someone in your position. This shows your initiative and generally, people are often only too happy to help.
- Be prepared to roll up your sleeves
The unglamorous truth about working in real estate is that the hours are long and it’s often a 6-days-a-week job. Additionally, it can take years to build up a good database of contacts, so if you want to be successful, you have to be willing to put in the work.
- Know your market
Having an excellent grasp on the local property market is a fundamental part of the job. And in a market that is constantly evolving, it’s essential that those entering the industry know the idiosyncrasies of that market suburb by suburb.
- Enjoy the ride
Working in real estate can at times be very stressful. After all, you are dealing with people buying or selling the biggest investments of their life and, not surprisingly, a lot of emotion can come into play. It’s important to remember what a privilege it is to be trusted by buyers and sellers in the way we are and to enjoy the experience of helping your seller secure the best possible price or being a part of a family buying their dream home. Those are the moments that always make me happy that I do, what I do.
Scott Walkom is the Principal of Walkom Real Estate and a member of the Salvation Army Advisory Board (Newcastle) and Chairman of the Hunter Medical Research Institute (HMRI) Foundation Board.
As a CPA qualified accountant with an MBA, Scott combines impressive business skills with more than 20 years' real estate experience to keep the Walkom ship headed in the right direction.
Scott is always looking for passionate people to join the Walkom team.