Why now is a good time to work in Real Estate

03 February 2021 Virginia Brookes

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​January has been an extremely busy month for the Real Estate industry, and we don’t see it slowing down any time soon!

While the country was in a recession due to COVID-19 last year and the number of jobs in Australia fell by 7.5 per cent between March and April 2020, the Sydney Real Estate Market continued to perform well and it is predicted that it will thrive this year!

Now is the perfect time to make a career change to Real Estate.

Making that career change to can be can daunting and nerve wracking but moving into this industry is pretty exciting. However it can be hard to know which path to take once you're there.

Do you want to be a property manager? Do you fantasize about selling million dollar homes? Or would you rather sell commercial spaces, like offices?

Or, do you have zero clue what it is you want to do, and that's exactly why you're reading this article?

Well we are here to help! Our team has a combined 20 years’ experience in the Real Estate industry and so can assist you in working out which path you could choose.

Here are some questions you should ask yourself to help decide which direction your career should take:

1.What sector of the industry do you want to work in?

The first (and easiest) decision to make is whether you want to work in residential or commercial real estate.

Residential is a very personal transaction - you are mostly helping someone to buy or rent where they are going to live, so it's more emotional.

Commercial real estate is generally more of a business transaction, involving facts and figures, and dealing with business-owners and companies.

2. Within that sector, which department do you want to work in?

Once you've narrowed it down to a sector, you'll need to evaluate your skillset and character traits to determine which department will be the best fit for you – namely Sales, Property Management or Administration.

Look at where your strengths lie.

If you are great at solving problems and want to build long-lasting relationships with clients, a role in property management might be right for you. It requires lots of open communication where you are acting as the go-between with several parties. Strong conflict resolution skills are a Property Managers’ best friend.

If you are organised, efficient and love to manage a multitude of tasks, a role in Administration could be a great option. This will often be supporting one specific person or a team to ensure the smooth running of their day and help coordinate where needed.

If you're outgoing, confident and like working to targets, Sales could be right up your alley. You must be prepared to put in the hours to succeed and remember that working in Sales is not all about being loud and outgoing. There are also many other traits that a good salesperson requires, such as being an influencer, resilient, and a good listener.

3. How much $$$ do you want to earn?

If you're just starting out in an entry level role, you'll only be earning the industry award is, so put away your dreams of driving that fancy new Range Rover... for now.

How you build on this depends on the path you choose.

If you are looking long-term for a higher fixed salary, then property management can provide this.

However, if you like the idea of earning an uncapped salary, where you are rewarded for your efforts, then Sales will give you a chance to earn big commissions.

4. What type of work structure are you looking for?

If you like working the typical nine to five, and hate the idea of working weekends, it may be wise to stick to an admin role, otherwise, Real Estate might not be for you.

A lot of roles in Real Estate require weekend and evening work, so you need to evaluate if this is something you're willing to live with.

To excel in Sales, you need to be prepared to work when your clients are at home, meaning evening and weekend work is essential.

Property Management up to a certain stage in your career will require weekend work too. However, if you choose to take the commercial path in sales or property management, this can mean a purely Monday to Friday role. Bear in mind though, that some offices will ask for tertiary qualifications in commercial, so some further study may be required.

If you have any questions about the types of roles that might be suitable for you in Real Estate, reach out to our team today for a confidential chat!