What is a Buyer’s Agent, and How to Be One?
One of the leading and growing industries worldwide is real estate. This industry has been booming for a while. In fact, the rate of homeownership escalated from 65.80% to 66% in September 2022.
It brings you thrilling careers that let you meet several people and work to make their dreams come true. And one of the best career paths out of these is to become a buyer’s agent. In this, you get to work closely with your clients.
So, if you’re interested in this, let’s know everything you need to know!
What is a Buyer’s Agent? What is their job?
In almost all real estate deals, one agent represents the seller – seller’s agent – and the other represents the buyer – buyer’s agent.
A buyer’s agent helps clients that want to buy a house. They understand their client’s demands to find the perfect fit. They negotiate with the seller’s agent for the best prices and benefits for both parties.
Some other responsibilities of this professional are to:
- Communicate and guide clients in finding a suitable property
- Draw contracts safe keep client’s interests throughout transactions
- Take clients on potential property tours
- Inform clients about the detailed process.
A buyer’s agent must also have the following skills:
- Customer engagement
- Clear communication
- Organizational skills
How to Be a Buyer’s Agent?
1. Grab a high school diploma
This seems like a basic step to getting a job. After all, most well-earning jobs require a basic education. However, this alone can let you start off with this career.
Many companies accept ambitious and confident high-school graduates and no other college degree. On the other hand, many training programs to be a buyer’s agent ask you to be at least a high-school graduate.
2. Get an associate’s or bachelor’s degree
While you can join the industry with just a high-school degree, few companies may not accept the basic qualifications. Even if you land yourself a job, you may have trouble progressing in this career and miss out on promotions. So, many aspiring buyer’s agents also decide to get a college degree.
To get a better edge in your career, study subjects like digital marketing, business administration, finance, or human resources.
3. Upskill with valuable degrees
Besides a college degree, you must also pick up a course meant to help you upskill. If you’re based in Australia, look up Australia’s best buyer’s agent course and get started! A buyer’s agent course will help you understand what kind of complications you may face in your job and how to deal with each of them. You will be prepared and more confident when you join the workforce.
Some courses may also help you get a job, but that’s only after you get a real estate license.
4. Earn a real estate license
Next, look up online for the basic qualifications to land a real estate license in your state. However, most places only demand you to have completed your education. Enrolling in relevant courses is better to ensure that you get the license in one go. Those will prepare you for all the exam questions and ways to crack them.
5. Get an entry-level job
Though it doesn’t sound great, an entry-level real estate job will give you the required experience to push for better opportunities.
Even if you have all the skills and degrees, a buyer’s agent job often demands some experience to understand that you know the field practices and rules.
Some positions that you may apply for are:
- Real estate assistant
- Commercial real estate agent
- Entry-level realtor
You will also connect with influential people and learn from firsthand experiences. You may even observe how they take care of unforeseen situations.
6. Start applying for the job
Once you get the necessary work experience, look up vacancies in the best real estate brokerage offices around you. Meanwhile, you can also connect with other buying agents on online job platforms and expand your professional circle.
You must also stay connected to your previous mentors and workplace so they consider you for any job opportunity.
Add on Skills to Excel in this Career
Your job as a buying agent at times may need some improvisation. What you learn from the courses or assisting your seniors may not always be enough.
So, here are some more ways to be a better buying agent once you land your dream job!
1. Gather more info than the internet
Since this is the era of smartphones and the internet, people look up everything before they meet an expert.
So, when a prospective buyer calls you, ensure your speech doesn’t repeat what’s already on the listings. Otherwise, the buyer may assume you hardly know what you’re doing. You might lose an extremely valuable client.
2. Make a list of things
If the customer is a first-time buyer, they won’t know how complicated processes can get. They believe house acquisition only takes a few minutes, as popular shows show.
When the processes begin, they feel overwhelmed and get impatient. So, instead, walk them through the process to make them understand reality.
Begin with an appointment about how the process works, explain the steps, how long each step takes, and other important factors. This will, in turn, increase the buyer’s faith in you even if the acquisition takes unnaturally longer.
3. Never pressure your clients
Real estate was always a major investment. Even if you don’t want to buy something impulsively, think about how much your client will put in.
It takes a lot of time to think, choose, and decide on a suitable property. Moreover, they might be stuck in other personal business, be it a family crisis, financial turmoil, or even a vacation!
So, don’t push them if they go quiet for a while. Instead, check in regularly to ensure they are still interested. Unless another buyer is interested in the same property, letting them take their time is okay.
Over to you
These are everything you need to know about being a buyer’s agent. Remember that diligence and hard work are the key to success. So, don’t slack off, and you’ll achieve your goals!