The Estate agent in 2012.
I love looking back at the beginning of each year, if only to see how my predictions have materialised. As the saying goes, there is no better sight than hind-sight. With the dramatic downswing in the property market since 2008 many estate agents have left the profession.
Following the up-beat mood of 2010, and the economical meltdown thereafter, it is clear that the property market has also changed for ever. Long gone are the days that property prices escalated on a month to month basis, and part-time housewives and retrenched corporate executives became estate agents overnight. All of this is good news to both buyers and sellers as property prices are moving up or down at a more moderate pace, allowing the market to calmly access the true value of a property.
With the dramatic downswing in the property market since 2008 many estate agents have left the profession. But for me the best news is that the agents that have survived the downturn can now all be part of a new professional industry.
Every agent selling property must carry a valid fidelity certificate form the Estate Agents Affairs Board, and have the minimum qualification of NQF 4 required. I am happy to say that selling property is now once and for all a career and the estate agent now deserve to be called a ‘property professional.” The compulsory formal qualifications for estate agents has at last changed the profession from a ‘last resort or a stop-gap’ job, to a professional industry you can rely on and agents can be proud to belong to. (You can now verify your estate agents validity by asking to see his certificate. They should all carry a small card size fidelity certificate) How wonderful to know that all agents are now qualified and professional and deserve the commission they work so hard for.
More good news for school leavers finding it difficult to carve out a career in the corporate world, self employment is often the best opportunity there is, and a career in real estate could be one of the best choices they could make. An entrepreneurial spirit, training and hard work is essential for young recruits. It is important that a prospective agent receives the correct support from a real estate company in terms of the practical work that must be done while he is preparing for the Professional Designation Exam (PDE) of the Estate Agents Affairs Board (EAAB). Matric with maths or accounting and a post-matric qualification in marketing, finance, paralegal studies, business or a similar field will gain the ‘rookie’ access as an intern. This internship is for the duration of one year. Almost all of the big companies have mentorship and training support and here I am proud to say Harcourts is at the forefront with its in house academy.
Margaret Nicol, CEO of MNA says: “ While the EAAB has mandated that all new entrants to the industry must achieve a minimum compulsory qualification and serve an internship, those who go through the process are opening up a door to a career that promises to be extremely rewarding both personally and financially.”
Looking forward to 2012, without a crystal
ball, the property market has always been the safest haven to invest. As the
saying goes – when every one is selling ........buy, buy, buy. With interest
rates the lowest in almost 30 years and property prices still under pressure I
am hopeful to look back at the end of this year helping more people finding
their new homes.