8 Steps to Build Your Career in Real Estate Management
A career in real estate can be a rewarding one, provided you have the right set of skills and qualifications to fulfil your roles and responsibilities. This is a field that assures growth opportunities bundled with lucrative salaries. However, as tempting as it sounds, getting one’s hold in the real estate management sector can be extremely challenging.
The field of real estate offers a great deal of variety. As a real estate agent, you will be expected to meet and work with different clients, visit different homes, and many more. However, to enjoy the advantage and security of a real estate career, there are a few things that you need to be aware of. Enrolling in a real estate management course can definitely equip you with the skills and knowledge to handle all aspects related to a property, such as finding potential buyers, maintaining house integrity, and making sure tenants respect their contractual obligations, etc. But there are other factors that play equally important roles in building a successful career in real estate.
This article focuses on equipping the reader with 8 essential steps that lead to a prosperous real estate management career:
1. Know your Emirate’s Requirements
As there is no availability of a national real estate license, it is advisable that you know the needs of your Emirates’ licensing requirements. For example, with a RERA broker card, you can only work in Dubai because each emirate has its own governing body. You can find this by visiting your Emirate’s real estate regulatory office website. One of the most important requirements to become a property dealer in Dubai is to obtain a residency permit. Some other requirements might include specific details like:
- ➤ Age
- ➤ Education requirements
- ➤ Prelicensing courses and post-licensing requirements
- ➤ Exams eligibility
- ➤ Application process and fees
- ➤ Background checks and fingerprinting
- ➤ Continuing education
- ➤ How to achieve the next level of licensing
- ➤ Reporting criminal history
2. Understand the Laws
As mentioned above, each Emirate has its own governing body. Therefore, it is important to have a strong understanding of the specific laws administered by each Emirate. This you can unveil with the help of your local real estate association. These laws may vary from Emirate to Emirate. For example, if Dubai demands realtors to work in an office under a broker for a certain period of time, then you will have to look for a real estate office that reflects your goals and style. This will help you establish your name in the real estate industry.
3. Get Certified
If you are based out of Dubai, then you will have to sit for the RERA exam. Before registering for the exam, it is advised that you enrol for the four-day training with Dubai Real Estate Institute (DREI). Successful completion of this course will enrich your knowledge and make you confident in clearing the RERA exam with ease.
4. Design your Financial Goals
Before starting a business, it is important to plan out the goals and objectives you wish to attain through your business. While aligning your business plan make sure that your objectives should set you apart from other real estate businesses in your area. A unique approach is key to attracting more customers. A financial plan should be based on market trends. Therefore, it becomes your responsibility as a real estate agent to set a price that lies within the current market range.
5. Obtain the Realtor License
Enrolling in the real estate management course will get you equipped with all the necessary concepts and topics needed to successfully obtain the realtor license. Each Emirate has its own rules and regulations on how many times you can retake the exam, or what are the deadlines for retaking the exams. Once you have met all the requirements, the Economic department will issue your broker license and card.
6. Activate Your Real Estate Agent License
After successfully clearing the exam, it is time to submit your application along with the required documents and fees to the real estate regulatory organization. You will not be able to establish your own firm until and unless your license has been approved.
In order to renew your license, you will have to sit for the RERA agent registration exam again. Passing the exam with 85% will complete your license renewal process. The fee for the real estate agent license renewal is AED 510. The documents required for the renewal process include:
- ➤ Copy of valid passport with file/residence permit
- ➤ Personal photo
- ➤ Certificate of qualification
1. Design a Website
The internet has made everything easy for us. Most buyers, today, search for homes online before meeting the real estate agent for contract purposes. Therefore, it becomes important to develop a web presence to attract more and more customers. An SEO-focused website will help you engage online leads directly into your CRM.
2. Find a Brokerage
Almost every real estate agent needs to work under a broker who looks after all the transactions. Brokers make sure that all the required legal and ethical standards are followed. The brokerage will then pay you a percentage of the commissions it collects from your real estate transactions. Therefore, it becomes important to search for a broker who meets your business’s ideals and goals.
If you are ready to take a leap in your real estate career, then the above-mentioned steps will definitely help you become a successful real estate agent. Applying for a real estate management course can make this journey much easier and stress-free. Improve your career prospects by educating yourself, getting licensed, and becoming a trusted real estate agent in your community.
Message from the Author
If you’re looking to enrol for a Real Estate Management course in Dubai, get in touch with Learners Point Academy. To learn more, visit the website: https://learnerspoint.org/, give a call at +971 (04) 403 8000, or simply drop a message on WhatsApp.
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