How to Become a Real Estate Agent in Pakistan?
There has always been a stereotype about being a real estate agent that it is not a very rewarding career. Contrary to this stereotype and common belief, the fact that real estate agents often earn more than a regular person on a job. In the last two decades, the real estate market in Pakistan has observed some massive growth and the stakeholders have seen an increase in their wealth as well. Not to forget the real estate agents have also earned quite a handsome amount of money and made a fortune for them.
This job of connecting buyers to sellers and tenants to owners has its own risks and rewards. If you are looking to pursue a full-time career as a real estate agent in Pakistan, you should acquire some skills that are necessary to acquire prior to stepping foot in this industry. Since education has no substitute, you should look to acquire a Master’s degree in business administration because it will give you business knowledge with a grip on proven theories. It should also be noted here that practical experience is equally important to excel in this field.
Work with Established Agents
For newbies, it is extremely important to work with experienced realtors prior to establishing their own agency. You can either work as an employee or a partner depending on the available options. Before you formally start working with the agents, it is advisable to settle your terms and conditions of working beforehand to avoid any issues in the future. Most of the real estate agents in Pakistan are not very qualified and to cope with them, you have to make your ends safe. To cope with such a mindset, it is better to acquire legal backing.
Acquire Degree/Diploma in Real Estate
Acquiring a degree in real estate was not possible a few years back but it can be acquired now – courtesy of the National Institute of Real Estate Management (NIREM). This institute is offering diploma courses in real estate management to uplift the image of the real estate community and enhance their knowledge of working in the market. The institute invites experienced and veteran real estate professionals who are also working in various real estate associations in leading roles. These include President DEFCLAREA, Management Committee of All Pakistan Realtors Association, and more. Similarly, there are other institutes as well where you can get enrolled to get a professional degree or diploma in real estate management.
Understand Money Matters
Where there is real estate, there is always money involved. Besides acquiring local market knowledge and a professional degree, it is also equally important to understand the money matters and its flow in the market. In a property, there are a number of charges involved, and being a real estate agent, you have to have complete knowhow of them to make sure you don’t sustain a loss. You should be able to quote the accurate price to the potential buyers because if a client senses something fishy, they are not going to fall for it no matter how good the property is.
Establish Your Own Agency
Once you feel you are quite capable to deal with the clients on your own, it is now time to establish your own agency. You should also get it registered by the relevant authorities to make sure there are no legal complexities involved in your operations. First things first, decide the name of your agency and start working as your own leader with an aspiration to take the market by storm. If you succeed, you are guaranteed to earn more rewards than by working in any other sector.