Buying and selling property is big business. Real estate is a global industry that can be tremendously profitable for real estate agents. Trained agents with the passion and dedication for moving the industry forward earn great financial benefits. While a career in real estate isn’t for everyone, for the right individual becoming a real estate agent can be enormously rewarding and lucrative.
Are you considering a career in real estate? Maybe you’d like to explore a successful business opportunity, join an industry that’s fast-paced, or help people while you make money. Whatever the reason for exploring the real estate path, you likely have several questions. In this article, we’re sharing valuable insights to help determine if becoming a realtor is right for you.
Becoming a Real Estate Agent: The Basics
Before any agent can feel the thrill of closing a deal, they first become a licensed real estate agent. To become a licensed agent in Canada, there are mandatory educational and licensing requirements set by your province’s real estate council. The process typically begins by taking courses that will help you better understand industry rules, regulations, and processes.
Real estate licensing courses are generally offered by post-secondary educational institutions. In Canada, general requirements to be accepted into a real estate licensing program are:
- Must be 18 years of age or older.
- Have a high school diploma.
- Be a Canadian citizen.
Upon passing the licensing exam you are eligible to work as a real estate agent. Most individuals have work experience in real estate prior to earning their license.
Career Streams for Realtors
Opportunities for new agents in the real estate industry go well beyond single-family home sales. The residential real estate market does grab attention in the media but, there are other types of property paths that licensed agents can pursue. There are two main categories of selling real estate.
Residential Real Estate
If you ask someone what a realtor does for a living, most people’s answers will involve residential property transactions. That’s not surprising because almost every person will buy or sell a home at least once in their life.
Working with properties intended for people to live in – such as single-family dwellings, condominiums, and townhomes is the path most realtors explore upon starting a career in real estate.
Character Traits of Successful Realtors
Key characteristics of a successful residential real estate agent are:
- Enjoys working with people.
- Can develop and maintain client relationships easily.
- Thrives in fast-paced work environments.
- Willing to adapt to client’s needs and availability.
- Self-motivated and highly organized.
- Tech savvy.
Working in the residential sector of the real estate industry is demanding and requires a strong commitment to continuous development. Having a supportive team environment is key to stay focused and motivated as a new agent.
Commercial Real Estate
Commercial real estate involves properties that are designated for business use and are intended to generate income for the owners. Office buildings, parking lots, retail spaces, and doctor’s offices are examples of commercial real estate properties.
Becoming a commercial broker requires an educational background that’s relevant to commercial property transactions. Most commercial estate agents have a degree in finance or business and will take part in a brokerages mentorship program before handling commercial property transactions on their own.
Join a Real Estate Brokerage
When training to become a real estate agent it’s a good idea to become aligned with a reputable and supportive brokerage. Brokerage positions to look for while working towards a real estate license can include:
- Real estate market coordinator
- Agent representative
- Real estate assistant
Find an agency that will help you succeed. Internal training, access to a global network of agents, and a cloud-based operations system are ideal for new and established agents.
Live a HighGrowthLife!
Becoming a real estate agent in 2021 doesn’t require you to limit yourself as you climb the ranks of a traditional brokerage agency in search of better opportunities. Professionals with drive, determination, and a willingness to connect with an agency that moves the industry forward are solid candidates to start a career as a real estate agent. Learn more about joining the fastest growing real estate agency in North America from the successful team at HighGrowthLife.