A real estate consultant or agent is a professional, dedicated to providing advisory services and management of everything related to the sale of real estate. Is now the best time to become a real estate agent or not? This is the most important question to consider before you embark on this journey to become a real estate agent. Let's start with some real estate industry facts, and then we will dig into the heart of the question of whether or not a real estate agent career is the right choice for you at this time.
Real Estate Market Facts For An Agent :
Everyone Need a Place to Stay
As a real estate expert, your knowledge and experience will be in demand forever. People always like to buy and sell homes. Because in the real estate agent job you work with property buyers or sellers and help them navigate the complex nature of the property market.
Property Market Moves in Cycles
You have probably heard about buyer's and seller's markets. You cannot always anticipate the timing of the ups and downs of the real estate market, but with enough time, a lousy market usually becomes good once again, and vice versa. A real estate agent should take a closer look at the local market for better results.
Real Estate Profession is Game of Strategy
The more people that you meet, the better your chances are to make a deal. You do not just focus on one client because it could fall through outside of your control for any reason. Communicating with multiple customers will give you the best results in real estate transactions.
How to Become a Real Estate Agent?
In March 2016, the government implemented a Real Estate ( Regulation and Development) Act (RERA) law to regulate the real estate market and make specific policies that developers and agents must comply with when selling the property. Any agents who wish to provide services must register under RERA as per the act. After registration, the agent is more accountable to home buyers and entirely responsible for their company activities and practices. If any broker doesn't register himself, then he will be penalized according to the act's clause.
Documents Required for RERA Registration by Real Estate Agents in Telangana:
- Pan Card
- Aadhaar Card
- Photo of real estate agent/partners/managers
- Proof of registration (Partnership Deed or COI for Company)
- Income tax returns of the last 3 financial years
- Business Pan card (Partner & Company).
- Self Certified Letterhead with a rubber stamp
- Acknowledgment receipts proposed to be used by a real estate agent.
What Does a Real Estate Agent Do?
Being the intermediary between buyers and sellers of the property:
- Real estate agents receive sales offers from builders.
- Determine the value of the land and negotiate the price with the seller, using previous sales in the area as references.
- Promote the sale of properties through advertising, displaying houses, or interacting with the public.
- Present potential buyers with a list of properties that fit their needs and set scheduled visits.
- Show the properties for sale to potential buyers and explain the details of the property.
- Receive purchase offers and negotiate amounts with buyers and sellers until a price agreement is finalized.
Being a realtor is great if you like houses and enjoy working with people, but it’s not always the dream job some imagine it to be. It is a common misconception that real estate agents earn a ton of money for doing practically nothing. Selling real estate is more work than you might imagine and, although there are some very successful real estate agents, there are many who struggle just to make ends meet. If you experience one of those tough times, you're likely to ask yourself, Was it the right time to become an agent for real estate? But stick to it, and eventually, you can find your move.
Although there are some precise challenges in becoming a successful real estate agent, you will be rewarded with independence, a good income, and complete control over your future success if you stick with it. So, to sum up, things now the perfect time to become a real estate agent?
Undoubtedly! Today is the perfect time to start your career and achieve your dreams.
By: Shailaja K