Interns – How to become a real estate agent
Work as real estate agent challenges. The real estate profession is a long-term career choice and requires building a trusted brand and reputation for agents and agencies. It usually takes at least six months for newcomers to start earning commissions, but the subsequent rewards can be significant.
Being a real estate agent is different from a corporate job in many ways. The industry is highly entrepreneurial and rewards personal initiative accordingly. This means that the financial rewards are commensurate with the commitment, hard work and training of each agent.
In recent years, the training of real estate agents has undergone significant changes. Become a professional real estate agent you can no longer join an agency, work for 12 months as a candidate and automatically get the right to open a real estate agency business.
• The first thing to do is to apply for an internship with a real estate agency, which must hold a valid and up-to-date Fidelity Fund (FFC) certificate from the Real Estate Agency Business Council, the governing body of the real estate industry. .
• Once hired, you must hold an Internal Loyalty Fund (FFC) certificate – also issued by EAAB – for a minimum continuous period of 12 months.
• You must also pass the Level 4 Real Estate NQF Certificate of Education and Continuing Education (FETC) exam.
• Once you have passed the NQF 4 exam, you must apply to the EAAB to take the Professional Designation Examination (PDE) to Become a Real Estate Professional (PPRE).
• To become a director of a real estate agency, you must also pass the National Certificate Real Estate NQF level 5 exam to become a Master Practitioner in Real Estate (MPRE).
Who can apply?
To be eligible to work as a trainee real estate agent, you will need the following documents:
• A valid ID or passport if you are not a South African citizen.
• A valid work permit if you are not a South African citizen. Almost anyone can become a real estate agent, with a few exceptions.
• A person who has been dismissed from a position of trust for improper conduct.
• A person who has been convicted of an offense involving dishonesty.
• An insolvent not rehabilitated.
Most established agencies are ready to hire and train interns and help them qualify. During the internship period, interns are supervised by agents who have their NQF4 or NQF5 qualifications and a minimum of three years of experience.
Internships for real estate agents last one year without interruption. Interns should apply to the Real Estate Agency Business Council for their FFC intern as soon as they start working for a real estate agency. Indeed, the date of issue of the Intern Fidelity Fund Certificate indicates the first day of the 12-month period of the internship. Trainees who are absent for more than 30 days will have to work an additional 45 days in addition to the missed period.
To complete the NQF level 4 in real estate qualification, candidates must register with a training provider accredited by the SETA (Sector Education and Training Authority) services. The NQF level 4 course in real estate includes lectures and homework as well as the constitution of an evidence portfolio / logbook.
Topics covered include:
• The principles of real estate.
• Property law and ethics.
• Sales and marketing techniques.
• How to run a business.
About 30% of the internship training is theoretical and 70% practical. The approximate cost to attend any of the courses is between R9,000 and R16,000, depending on the training provider you choose.
At the end of the 12-month practical internship and the theoretical section NQF Level 4 Real Estate, you will be asked to submit your assignments, your portfolio and your logbook to be evaluated by the training provider. If all the material is complete, it will then be moderated externally.
If you are deemed competent, the SETA Services will issue you with a certificate of competence.
The next step is to take the EAAB Level 4 Professional Designation Examination (PDE). You must complete it within three years of your first registration as a Trainee Real Estate Agent. After you have written and passed the exam – which has a passing score of 60% – a Full Status Fidelity Fund certificate will be issued by the EAAB and you will then be recognized as a full-fledged real estate agent.
In line with Covid-19 restrictions, most training providers now offer extensive online training programs. A number of real estate agencies also run their own accredited training academies for their agents only. Accredited general education providers include:
Training to become a real estate agent is a full time commitment. Although not yet considered qualified agents, as an intern with a valid FFC intern you still have the right to earn a commission on the sale of the property. However, the commission is only paid once the transfer of ownership has been registered at the Deeds Office. This means that you will need sufficient funds to cover your expenses for at least six to nine months, as sales can take three to six months to register.
Becoming a real estate agent is no longer a temporary or part-time job, but a real career choice with great prospects. It is a choice that is definitely worth considering for school leavers as well as self-sufficient, people-oriented and ambitious graduates.