Simply put, a property buying agent is a resource for the buyer, providing practical and trusted assistance to support them in their property-purchasing process.
WHAT ARE THEY RESPONSIBLE FOR?
Property buying agents are responsible for providing you, the buyer, with appropriate properties to match your criteria, as well as providing an accurate and true-to-life overview of the property/properties you wish to purchase.
Rather than requiring you to trek across the country for multiple viewings, incurring the expense and inconvenience of travelling to the site of somewhere which may not be right for you, a property buying agent will pre-prepare and view only suitable properties (some of which may not yet be on the market to the general public!).
WHAT AREN’T THEY RESPONSIBLE FOR?
Though for many property buying agents the client relationship stops here, at County Home search our property agents pride themselves on going above and beyond. With their expert local knowledge, each property agent has an in-depth understanding of their region, and provide end-to-end service.
Is estate agent a stressful job?
Real Estate Agents are the intermediaries between buyers and sellers in real estate transactions. Agents work long, erratic hours including working most weekends, spending much of their time showing properties to clients. The field is highly competitive, which can cause high levels of stress.
Below are steps to Become A Property Agent In South Africa
Steps to Becoming a Real Estate Agent
If you want to become a real estate agent, you’re looking at an upfront investment of money and time, both of which vary depending on where you get your license. Though the specific requirements differ by state, here’s a general rundown of how to become a real estate agent.
Step 1: Research Your State’s Requirements
Estimated Cost: Free
There’s no such thing as a national real estate license, so you must meet your state’s unique licensing requirements. A good place to start your research is your state’s real estate regulatory office website, which you can find through an online search for “[your state] real estate regulatory office” or by visiting the Association of Real Estate License Law Officials (ARELLO)’s regulatory agency directory.
Each state typically has specific requirements for:
Age
Education requirements (such as a high school diploma or GED)
Prelicensing courses and post-licensing requirements
Exams and exam eligibility
Application process and fees
Background checks and fingerprinting
Continuing education
How to achieve the next level of licensing
Reporting criminal history
Some states have reciprocal licensing agreements with other states, which means you can get your license in one state and use it in another without having to take an additional license examination.
New York, for example, has reciprocity with nine states (some states have reciprocity for brokers only): Arkansas, Colorado, Connecticut, Georgia, Massachusetts, Mississippi, Oklahoma, Pennsylvania, and West Virginia.5 As with regular licensing requirements, each state has its own process for obtaining a license through reciprocity.
Step 2: Take a Prelicensing Course
Estimated Cost: R 5105.53+
No matter where you live, you have to take a pre-licensing course from an accredited real estate licensing school before you sit for the real estate license exam. The required number of hours varies by state. In South Africa, for example, applicants must take three real estate classes totaling 135 hours.6 In New York and Georgia, the courses take 75 hours; in Florida, the course takes only 63 hours.789 And in Texas, you need 180 hours of coursework.10
Most states offer several ways to fulfill the relicensing course requirements, including online classes, brick-and-mortar real estate schools, and classes at community colleges. You may be able to save money (and time) by enrolling in one type of class program over another, so it pays to shop around.
Choose the method that works best for your learning style and schedule. Also, do your research and be selective when it comes to picking a program. The quality of the instructors and materials will influence how well prepared you are to take the exam.
Step 3: Take the Licensing Exam
Estimated Cost: R 1458.72–R 4376.17
Your instructor should explain how to schedule, register, and pay for the licensing exam (if not, visit your state’s real estate commission website). Exams are computerized and consist of two parts:
a national portion on general real estate principles and practices, and a state-specific section that covers your state’s real estate laws. The exams are multiple-choice format, and the number of questions and time allotted for the exam vary by state.
Each section is scored separately, and you must receive a passing grade on both sections to pass. If you fail one or both sections, you’ll have the opportunity to retake the exam. Each state has its own rules regarding the number of times you may retake an exam, how long you must wait between exams, and the deadline for completing any retakes.
Step 4: Activate Your Real Estate Agent License
Estimated Cost: R 1458.72 – R 4376.17
When you pass the exam, it’s time to submit an application and any required documents and fees to your state’s real estate regulatory organization.
When your application is approved, the state will mail your real estate license certificate, and your name will be searchable under the licensees’ section of its website.
Keep in mind that you’re not allowed to work as a real estate agent before your license is issued by the state’s real estate authority—so hold off until you have that license in your hand.
Step 5: Consider Becoming a Realtor
Estimated Cost: R 4376.17
Many people use the terms real estate agent and Realtor interchangeably, but they actually differ.10&ifi=4&uci=a!4&btvi=3&fsb=1&xpc=9XoQFCyxYK&p=https%3A//safacts.co.za&dtd=3115
Though both are licensed to help buyers and sellers throughout the real estate transaction process, Realtors are members of the National Association of Realtors (NAR) and subscribe to its strict Code of Ethics.11
The National Association of Realtors is the largest trade association in the In South Africa., representing 1.3 million members who are salespeople, brokers, property managers, appraisers, counselors, and other participants in the residential and commercial real estate industries.12
Though membership is optional, being a Realtor can add to your credibility as a real estate agent. As a Realtor, you’ll also have access to a variety of benefits, including:
Business tools
Real estate market data, research, and statistics
Educational opportunities
Discount programs geared toward helping you succeed in business
For example, Realtors have access to Realtors Property Resource (RPR), the largest online real estate database in the In South Africa., built from public record and assessment information. It includes information on zoning, permits, mortgage and lien data, schools, and a large database of foreclosures.1314
Step 6: Join a Real Estate Brokerage
Estimated Cost: R 364.68–R 7293.61+ Per Month
As a real estate agent, you work under the umbrella of a supervising broker who is licensed by the state to oversee real estate transactions and make sure you (and the other real estate agents) follow the required legal and ethical standards.
In general, you won’t earn an hourly salary. Instead, the brokerage will likely pay you a percentage of the commissions it collects from your real estate transactions.
Depending on the arrangement you have with your brokerage, you may have to pay for desk fees, tech fees (e.g., for your website), business cards, marketing materials, and other normal costs of doing business.
You’ll also have other one-time and ongoing expenses, such as renewing your license each year, continuing education, lockbox fees, and Multiple Listing Service memberships.
What subjects are needed to become a real estate agent in South Africa?
Requirements for a career in Real Estate:
Recommended High School Subjects: Subjects within Business, Commerce & Management Studies, and within Services.
Other requirements: 12-month internship, FETC Real Estate NQF Level 4, PDE exam, Intern Logbook (or an exemplifying qualification or degree)
How does a real estate agent get paid in South Africa?
The standard estate agent commission rate in South Africa is 7.5%, but this can be negotiated. Estate agencies take a lot of risk onto themselves, as they invest a lot in marketing but are only paid if the home is sold.
Do you need any qualifications to be an estate agent?
A degree is not required to become an estate agent, but strong competition often makes relevant experience and/or qualifications necessary. A degree in an appropriate subject such as marketing, business, property studies or real estate can be helpful. Some estate agencies offer on-the-job training for estate agents.
How do I become an estate agent with no experience in South Africa?
The 5 Step Process to Becoming an Estate Agent in South Africa
Step 1: Apply for a position at a registered estate agency as an intern.
Step 2: Register with the Estate Agency Affairs Board (EAAB)
Step 3: Complete your 12 Month Internship.
Step 4: Complete NQF 4 Through an Accredited Provider (150 Points / 1500 Hours)
Do real estate interns get paid in South Africa?
Although not yet considered to be qualified agents, as an intern with a valid Intern FFC you are still eligible to earn commission on the sale of property. However, commission is only paid out once the property transfer has been registered in the deeds office.
How much does a real estate intern earn in South Africa?
The average salary for an internship is R3 940 per month in South Africa – close to minimum wage, which comes in at R3 500 per month.
How much do property developers make in South Africa?
Filter Results:
| Job Title | Category | Salary |
|---|---|---|
| Property Development Manager | Property Development Jobs in South Africa | R650k – R450k p/a |
| Project Manager | Property Development Jobs in South Africa | R900k – R700k p/a |
Is property a good investment in South Africa?
“Recent reports have shown affordable properties in major metros to be the fastest appreciating property investments in South Africa – a trend likely to continue, making buying a home one of the smartest ways to invest in your future.” says Shaun Rademeyer, CEO of MultiNET Home Loans.
How much do property managers earn in South Africa?
Real Estate Property Management Jobs by Salary
| Job Title | Range | Average |
|---|---|---|
| Job Title:Property Manager | Range:R119k – R709k | Average:R344,627 |
| Portfolio Manager | Range:R116k – R577k | Average:R212,341 |
| Property Administrator | Range:R61k – R309k | Average:R159,341 |
| Financial Manager | Range:R233k – R773k | Average:R494,809 |
What qualifications do you need to be a project manager?
Essentially, a project manager who’s qualified has the temperament, skills, and experience needed for the position. Typical requirements generally include at least three years of experience in a related role, the ability to communicate, formal training, and a PMP certification.