How to become an estate agent?

Estate agents use their experience, knowledge, and connections to help people to sell properties at the best prices.

Working in this field can be financially rewarding as a fee based on a percentage of the price the home sells for is charged. Depending on the type of contract, the fee can range from 0.75% to 3.0% plus VAT. 

According to Prospects salaries range from £25,000 to £60,000 per year plus commission. Estate agents working at high-end agencies or in managerial positions can earn up to £100,000 per year.

Here, we explain exactly what it takes to become an estate agent in today’s competitive property market.

The skills to become an estate agent 

Anyone with a natural knack for sales and negotiating could perform exceptionally well in this role. As commission and success are dependent on whether homes sell, it means sales are everything.

Estate agents have a long list of contacts that regularly need calling, meaning if you are a people person, this could be the role for you. New clients are met regularly while connections to solicitors, removals firms, mortgage advisers, builders, surveyors, and more are necessary.

Keeping up with so many people can get busy so organisational skills are fundamental if you would like to become an estate agent. 

Speed is also essential, as the property industry is so fast-paced. In this industry, failure to complete tasks in a designated time frame could result in a sale falling through.

Requirements and qualifications

Becoming an estate agent does not require a formal degree. Instead, various diplomas, apprenticeships, and training courses can equip budding estate agents with the right skills to fulfil the role.

Sales courses are helpful when it comes to learning sales practices, while training under professional bodies including the National Association of Estate Agents (NAEA) and the Independent Network of Estate Agents (INEA) can also ensure potential estate agents are on the right track. There are other courses, too, aimed at people looking to become agents, or to improve their existing skills.

Estate agents are relied on by individuals who hope to sell a property, therefore they need to stay up-to-date with the changes within the property sector to ensure they are giving accurate and sufficient advice.

In addition to this, the property industry is highly regulated therefore thorough knowledge about what is and is not acceptable is essential.

The Estate Agents Act 1979 (EAA1979) outlines several policies that need to be followed. These include, but are not limited to, behavioural guidelines, minimum standards, responsibilities, and the way money must be handled.

Daily duties of an estate agent

Those aiming to become an estate agent can expect a long list of daily tasks and duties that need to be fulfilled.

Estate agents handle house viewings and introduce those interested in buying to the property. Before this is done, a high level of understanding of the home as well as the local area is required.

As part of the sales process, estate agents give advice and tips about the home that will improve the selling price and make it more desirable for buyers.

These are sometimes in line with what the seller perceives but in cases where they are not, the estate agent must also use their expertise to convince and persuade. 

Marketing and selling homes are the main part of the role of an agent day-to-day, the bread and butter. 

Taking images, carrying out research, and creating digital adverts are also part of the sales process. Before this is done, the home might require staging – in other words, making the home looks its absolute best to buyers.

Being a top-performing estate agent is likely to boost your reputation and attract you to various high-profile clients. 

Those hoping to get into this field can kickstart their career by acquiring the right skills, gaining industry-relevant qualifications, and understanding the duties involved with the role.