Real estate agents will become: How do I start my own business with real estate?

Dream job real estate agent? In TV evening programs such as “Rent, Buy, Live” is the professional life of brokers who move with their customers from object to object, presented in detail. It seems varied, full of interesting real estate and people and depending on the price segment also extremely lucrative to work as a broker. What are the prerequisites for this job and what do the training and qualification look like?

The real estate industry, the unknown entity

Although many in the real estate industry speak very positively of the brokerage profession, the vast majority of potential junior staff have no real picture of it. According to a student survey conducted in 2016 among BWL, architecture and construction project management students, most of the respondents could not name real estate companies by name and did not know how to describe the different occupational profiles in the industry.

However, taking entrepreneurial risk as a founder does not seem to be unattractive among technology students: a good third could imagine starting as a company founder or freelancer. The industry has quite a few professions to offer: project developers, portfolio managers, property managers, fund advisors, real estate valuers or property managers. The real estate agent is still the best known among them. Enlightenment work is necessary, because needs and career opportunities are still sufficient. Real estate trading is increasingly taking place in economically uncertain times.

Tasks and challenges of the profession Realtor

A real estate agent has the task of providing freestanding real estate objects to suitable potential buyers or tenants. These can be houses, commercial spaces or apartments, but also houseboats or yachts. Usually he mediates between the real estate owners who want to sell an object and buyers or tenants who are looking for a suitable object for their own use or their company.

Many prospective buyers are looking for professional traders via the large online portals. So you can already make a selection filtered by regions and preferences. For real estate agents themselves such platforms are in addition to their own website (ideally internationally compatible) a great way to present themselves to interested customers.

A professional and competent appearance is indispensable for a real estate agent. Provide competent advice, mediate between the parties and manage the property – brokers have a whole range of tasks to complete. Business skills are just as important as empathy. A successful sale requires that all pages have been satisfied. The most important social attributes of this profession:

  • Excellent communication skills
  • sales talent
  • Empathy and commitment
  • Constant readiness to learn
  • responsibility

Broker permit and business registration

In order to become a real estate agent, there is no regular training or a specific school leaving certificate. However, an absolute prerequisite for being able to work as a real estate agent is the official permit under Section 34 c of the Industrial Code, the so-called broker permit. Here the broker candidate is certified that he was involved in no illegal or fraudulent processes in the past five years. Unsecured financial circumstances and insolvency proceedings are also excluded with an issued broker permit.

The exact fees for obtaining a broker permit vary depending on the city issuing the certificate. Overall, an applicant can count on a medium three-digit sum.

Anyone who intends to become self-employed as a real estate agent or to register their own business should obtain detailed information from the trade office in advance about the requirements . For a broker, a simple business registration is not enough. This is a trade subject to authorization because the legislator classifies this field of work as particularly sensitive. For all real estate agents, this business license exists, this is not a free profession.

Expertise and training paths

A broker needs a lot of expertise in addition to personal qualifications. So also newcomers with the corresponding will in this profession can be successful. Every aspirant should acquire extensive knowledge of the industry. An appropriate study such as real estate or real estate management are a good preparation, as well as a vocational training as a real estate agent or woman. Other business studies or commercial training are also possible.

The expertise of a professional real estate agent is extensive. Thus, for a sufficient valuation of a real estate object building technical knowledge as well as good knowledge of the regional conditions in which the broker acts. For example, he can offer better advice on current market prices. Legal aspects of building law or insurance issues should not be unfamiliar to brokers. In a land sale, the topic of mortgage lending plays a major role.

With the breadth of potential expertise, it is advisable for each broker to specialize, that can be on a specific type of real estate, on commercial properties or on a particular region. The determination of a specific target group can secure the clientele permanently.

Become self-employed successfully

Most estate agents are self-employed. It is important to enter the profession first. Many estate agents are self-employed within a franchise . Here it is important to present your own expertise and area of ​​expertise openly. Hiring highly professional internet advertisements and being represented in various networks is part of the job. An own office is from a certain order of magnitude also indispensable.

Earnings opportunities and prospects

A real estate agent is always paid by the one who has commissioned him with the sale or mediation. A fixed salary is rare, if not impossible, in the industry. The attractiveness of the commissions gives enough motivation to do his best. A typical commission is three to five percent of the sales value achieved. For rentals this is at two cold rents. Depending on the region, however, these values ​​are very different. Here applies what the broker has agreed with the client, usually the seller.

The brokerage is fast, especially in expensive real estate a considerable amount. When it comes to good properties, a broker sometimes finishes earning € 10,000 – in a relatively short period of time. Anyone who specializes in luxury real estate, even in perspective can rise to the wealthy. But as lucrative as the broker business may seem, success does not come overnight. A good deal of stamina, patience and a thick coat are absolutely necessary to gain a foothold here. A high level of commitment and dedication, however, can pay off in the long run.