Thursday, August 24, 2017

Why Attaining A Licence Is Important For Becoming Real Estate Agent

Real estate can be considered as one of the most lucrative industry to start one’s profession in. As with the growing population, the demand for properties will not decrease in the long run, so do the requirements for real estate agents.

But, becoming a real estate professional is not just a matter of having an interest in real estate. This is a multifaceted industry and requires not just in-depth knowledge, awareness of market trends, but compliance of several rules and regulations, and not to mention a minimum qualification and a licence. Professionals working in this field are validated through their licence, which can be achieved only after passing a set number of tests (for which they can prepare with a fast training course in NSW, or their own state). Attaining the licence demonstrates their knowledge and expertise to work in the field.

Importance Of Real Estate Licence

First things first, without holding a specific licence no professional is legally eligible to work in this industry as an agent. A licence becomes important due to several factors, including:
  • Gain professional validation to work as an agent
  • Gain in-depth knowledge about the property related rules, regulations and trends concerning any particular state
  • Gain understanding of the real estate legislation
  • Develop a network becoming a member of an industry association in the field, thereby gaining access to regulatory bodies and government departments
  • Without a licence there is no formal or legal procedure to get work as an agent, and the buyers and sellers also avoid working with a non-licenced agent as it is illegal
  • Having a licence allows the agent to:
Ø  Own or manage a property
Ø  Sell, buy, rent, or exchange any kind of property, as well as benefit from the interest in that
Ø  Buy, sell or rent a property on behalf of the property owner or property seeker
Ø  Gain right to show a property to prospective buyers
Ø  Advertise a property for sale or rental
Ø  Assess a property themselves or on someone’s behalf
Ø  Manage a property completely as well as operating trust accounts on behalf of buyer or seller

This is why obtaining a licence becomes an essential criteria for anyone looking to become a professional real estate agent. To prepare for the licence test, one can take assistance from a quality and thorough real estate licence course in NSW or their state, which will help them gain basic understanding of the industry and enhance their knowledge and skill set.