A career in real estate offers you the opportunity to meet a wide variety of people and the prospect to be very successful provided you are prepared to work hard and commit yourself. Opportunities are available right now for those who are committed to succeed. The results of recently conducted research into industry recruitment requirements has indicated that there would be in the vicinity of 4000 jobs waiting to be filled by the right candidates in NSW alone.
In the past, many people would tolerate unprofessional and even unethical behaviour from a real estate salesperson simply because they believed that this was the nature of the business. Today though, people are looking for professional business people who know their product, will listen to and care about their needs, have a plan, deliver on their promises and will help them during the most important financial decision-making periods of their lives.
Real estate is not only a satisfying, service-oriented profession, it can also be one of the highest paid in the world.
In their first year, salespeople today earn on average between $70,000 and $100,000 per annum. As they build up the number of contacts they have in their area, this figure has the potential to double or more in a salesperson’s second year and beyond.
From school leavers and people seeking a career change to mothers re-entering the workforce, the real estate industry welcomes people from many different backgrounds. Our industry has seen many success stories from people who have made the move from
industries such as hospitality, banking and finance and medicine. Great career path opportunities exist also. When people talk about real estate, they immediately conjure up an image of a residential salesperson. In fact there are jobs to suit many different skills as
the real estate industry includes property management, commercial sales and leasing, auctioneering, administration and general management.
Get qualified, get hired
There are basically two types of training in real estate. There is certified training and there is, what is known as ‘street’ training. Many organisations offer certified training, which will give you the qualification you need to enter the industry. But the fact of the matter is this - in recruiting new staff, real estate employers will show preference to those people who not only have the necessary qualification to enter the industry, but who have also been trained
in the ‘how to’ of selling real estate (which is the aim of ‘street’ training).
Let’s take a look at what today’s real estate employers are looking for.
“We want people who can show or demonstrate an ability to sell.”
“We need people who can basically come in and just hit the ground running.”
“I’m looking for people with drive and commitment, people who want a career, not just a job.”
There is one product on the market that delivers what real estate industry employers are looking for and that product is called THRIVE.
Getting qualified
Delivering qualifications that are recognised by leading real estate groups, THRIVE offers you the ultimate start to a career in real estate.
Engineered by Lee Woodward, CEO of Australia’s largest real estate service centre, Real Estate Academy, in conjunction with Real Estate Training Solutions (R.E.T.S.), a VETAB Registered Training Organisation, THRIVE brings together the very best Australian real
estate and legal talent, all within the one program.
Fully self-paced and interactive, there are no classes to attend. What’s more, the course can be completed in as little as one weekend!
The 6-disc training masterpiece, complete with comprehensive workbook, showcases cutting-edge information delivered in a combination of written, audio and DVD formats. You are transported into the industry through role-plays of actual situations which real estate professionals face in the field each day. In addition, the program assesses you on key requirements of the industry, incorporating street-smart skills with essential legal
knowledge and dollar-productive activity.
Leading Australasian sales coach, Lee Woodward, brings more than a decade of extensive experience to his role as CEO of Real Estate Academy. He has earned widespread acclaim and respect for his mission to raise the standards of the real estate industry to new
heights by providing interactive, professional and highly relevant training in order to see great people enter and thrive in the industry.
“I can assure you there are no other training companies that can match our level of skill, resources and infrastructure when it comes to preparing you for a career in real estate. If you are interested in
becoming a part of the exciting and challenging real estate industry, then Real Estate Academy is here to help you through the entire process from obtaining your necessary qualification to getting
hired.” (Lee Woodward)
Getting hired
At Real Estate Academy, we are here to help you through the entire process, from obtaining your qualification to work in the industry to connecting you with real estate principals seeking new recruits.
Here’s what real estate employers are saying about THRIVE.
“The Thrive program basically finds the right people for us.”
“Like everyone in real estate, we’re very busy. We need people to be pretty switched on even before they enter our induction program. The Thrive program saves us a huge amount of time and effort.”
“We want people who can show or demonstrate an ability to sell. And the Thrive program does exactly that. We need to see people who can show a commitment to a program because that shows us
that they are most keen for those jobs.”
We have established a partnership program with leading real estate agencies that allows us to connect THRIVE graduates to them via our unique Employment Email Alert System.
Here’s how it works…
Upon graduating from THRIVE, you will be asked to nominate (by postcode) the area in which you would like to work. Your details are then sent to real estate principals who have nominated Real Estate Academy as their employment partners in the area of your
choice. In this way, your chances of gaining employment are fully maximised.
What you should know about a career in real estate
YOU determine your own success.
That’s right … it’s up to you. Success comes from dedication to the job, and a commitment to continuous improvement through further training. By having a great attitude, you are
guaranteeing great results!
Your job is secure during an economic downturn
The ‘Great Australian Dream’ ensures that people are always buying and selling property, regardless of the state of the economy. As an agent, you will always be in demand to help
people achieve their desired outcomes.
Your professional honesty is a key to your success
Despite a reputation for dishonesty that real estate agents have developed, success in today’s industry will only come through a commitment to honest, transparent service.
You have excellent income prospects
The industry average income in the first 12 months of employment exceeds 70,000 p.a. High Flyers can earn between $250,000 and $350,000 p.a. for homes priced between $450,000 and $600,000, and agents who sell homes in more prestigious areas can earn in excess of $600,000 p.a.!
Your success requires a passionate commitment beyond ‘9 till 5’
In the first six months, most successful agents commit to a six-day week of approximately 50 – 60 hours. By the third quarter, your time management skills and achievement of
your sales targets will dictate your working hours.
For more information please visit : http://www.realestateacademy.com.au/
Many real estate salespeople today are lured by the proverbial ‘dangling carrot’ and accept the offer of a bigger commission structure only to find they go broke trying to maintain the outgoing expenses to run their business.
“Today, being a professional salesperson is just that – sell homes and move on. Running a business where you have all the costs is running a business.” (Lee Woodward, CEO Real Estate Academy). In other words, the two should not be confused.
If there were an award for the most controversial and widely debated topic in real estate today, that award would arguably go to the topic of pay structures in this industry.
In an attempt to gain direction and understanding of this issue, a number of prominent industry leaders gathered together in one room recently at The Complete Leader Conference, hosted by renowned sales coach and business visionary, Lee Woodward. Lee was joined at the conference by a unique line-up of leadership professionals, who, over two days, tackled head-on, a number of crucial issues facing real estate industry leaders today. In this way, it wasn’t so much about being given the answers, but more an open forum where participants were encouraged to contribute and be open to a variety of views on many thought-provoking leadership issues.
Extensive research was undertaken prior to the conference in order to develop an interactive survey that formed a key part of the day. The purpose of the survey was to anonymously extract information about the delegates as a broad representative sample of our industry leaders. The findings of the survey highlighted that, in terms of pay structures, the average commission of a salesperson stands at 41 – 43%. Despite the average though and, as anticipated, pay structures proved to be a topic of great variance in opinion and controversy. It provoked much discussion and debate amongst conference participants and our panel of speakers:
Lee Salce (Phillip Webb Real Estate)
Anthony Toop (Toop & Toop Real Estate)
Mark McCleod (Ray White)
Peter Mumford (McGrath)
It was certainly clear from our audience response that the majority share an annoyance that attempts are made regularly by other agencies to lure their salespeople with offers of ridiculously high percentages. The fact of the matter is this – these are not representative of a real deal as anyone who is offered in excess of 60% is provided with no support. They have to pay for everything from paper and ink to all marketing and prospecting tools. At 41 – 43%, a salesperson is provided with the necessary infrastructure to get on with the job of selling homes. Anything above this and they are nothing more than a contractor to a business who pays for their own office space.
As Lee Woodward pointed out, “don’t be fooled by these massive commissions being offered. You have to ask yourself - is this the real deal or is it a fake deal because 100% of nothing is nothing.”
Other interesting views on the issue of pay structures are more aligned with people and performance matters such as culture, leadership and support.
It is interesting to note that in our research, those leaders who rated their workplace moral as high also had the best staff retention levels despite offering average commission structures.
People and performance expert and Director of RealChange, Sadhana Smiles, said there is a misconception that salary is the number one reason for staying in a job, particularly in real estate. Research has shown however that people choose to stay for other reasons.
According to Sadhana, people today want security, support, recognition, opportunities, culture and lifestyle. Price, product and service are no longer the key points of difference because everyone’s offering those.
The table below highlights the results of research conducted to ascertain what employers look for in a candidate as opposed to what candidates look for in a company. As you can see, salary and financial incentives rate lower with candidates than things like challenging work, training and development and a reputation for looking after employees.
In another survey, conducted by Manpower, Generation Y employees (under the age of 25) were asked to rate, in order of importance, the elements that were important to them in a job. The results were as follows:
1.Culture
2.Team
3.Management style
4.Flexibility
5.Conditions
6.Salary
When asked if there should be the same deal for each salesperson, Sadhana’s response was a definite “YES”. She qualifies this view by saying that people inevitably talk amongst themselves and one of the standards she feels you must have to avoid discontentment is your pay structure.
If questioned by an employee on this, Sadhana suggested the following response:
“As a business owner, I am not prepared to change my business standards, however we can offer: (list other benefits of working with you, such as lifestyle, fuel cards, area exclusivity, your own database, health fund contributions)”.
Sadhana’s views are shared by Bradley Brown, CEO of the multi award-winning Fletchers in Victoria and a contributor at the conference by recording a double audio CD, Power of People, a copy of which was provided to all participants. On the audio, Bradley shares his views on many leadership issues, including pay structures, which he said are the same across the board at Fletchers. Operating on a sliding scale for commissions, every staff member also has the opportunity to participate in a bonus scheme whereby if an annual target is met, the staff member is rewarded with travel, an incentive that is regarded very highly in his organisation.
According to Bradley, “remuneration is far beyond just a pay packet”. He is finding that his people don’t want the higher commissions without the support. “It is the complete package they are after”.
All too often principals are held to ransom by their top salespeople. It is vital not to have ‘all your eggs in one basket’. You have to ask yourself the question - what would happen if they leave you?
From an outsider’s perspective, one thing that was clear from this topic was that there isn’t one simple answer to the issue of pay structures. In my opinion, there clearly needs to be more focus on profit to the business and less on an individual’s pay structure. It’s also about culture, training, career path and where the organisation is heading as a whole. Keeping it simple and making it transparent also seems to make most sense. Perhaps some work needs to be done in ascertaining the actual desk fee for an agent. How much does it really cost to have a salesperson? It is only when you have that answer that you can really determine how much that salesperson needs to bring into the business for a return on the investment.
To summarise the findings of the great fee debate at The Complete Leader Conference, it was concluded that anywhere between 40 and 43% would be an appropriate commission for a real estate salesperson, provided adequate support, infrastructure and opportunities are made available. 
Following a successful career as a writer and training consultant for the banking and finance sector, Phaedra Pym now works for national training and systems development company, Real Estate Academy, headed by renowned sales coach Lee Woodward, as their research and writing consultant.
The real estate industry needs your help! We are looking for people who are truly dedicated to assisting and supporting people during one of the most important decision-making periods of their lives. Opportunities are available right now for those who are committed to succeed.
Imagine finding a course that not only gives you the qualifications you need to work in real estate, but also gives you the best possible chance of getting hired. What’s more, it can be completed in as little as one weekend from the comfort of your home! Sound too good to be true?
Real Estate Academy, the largest national service centre in Australia,invites you to attend our free information evening on the best possible way to launch a career in real estate.
When: Thursday, 26th February, 2009 (6:30 – 8:00pm)
Where: Crown Plaza Newcastle
Corner Merewether Street and Wharf Road
Newcastle, NSW
Who should attend?
Anyone interested in starting a career in real estate, whether you are a school leaver or you’re thinking about a career change.
What you will get: A Career in Real Estate audio CD
Bonus audio coaching CD
Full details about Real Estate Academy’s induction training program – THRIVE – the ultimate start to a career in real estate.
Contact us
Contact Real Estate Academy on 1300 367 412 to reserve your seat.
Never before has there been a more convenient, professional and complete way to launch a career in real estate!
To find more information about Real Estate Academy (REA) please visit http://www.realestateacademy.com.au
