It has always been stereotyped that being a real estate agent is not very rewarding. As many people assume, real estate agents make more money than a regular person on a job, contrary to this stereotype and common opinion. Pakistan’s real estate market has experienced massive growth in the last two decades, and its stakeholders have seen their wealth increase as well. In addition, real estate brokers have also become wealthy through their business. In this article, we will share details on how you can become a Real Estate Agent in Pakistan
How to Become a Real Estate Agent in Pakistan?
There are risks and rewards associated with connecting buyers to sellers and tenants to owners. Before stepping foot into the real estate industry, you should acquire a few skills that are necessary before going into full-time real estate sales. As education is irreplaceable, you should pursue a Master’s degree in business administration since it will provide you with business knowledge and a grasp of proven theories. The importance of practical experience in this field cannot be overstated.
Establish a relationship with established agents
Working with an experienced realtor before setting up a real estate agent is extremely important for newbies. Depending on the options available, you may work as an employee or a partner. To prevent future issues, it is advisable that you settle your terms and conditions of working with the agents before formally working with them. To deal with them, you have to make your ends as safe as possible. Most real estate agents in Pakistan are not very qualified. It is best to acquire legal backing in order to deal with such a mindset.
Acquire a degree or diploma in real estate
The National Institute of Real Estate Management (NIREM) offers degree programs in real estate management, which were not available a few years ago. A diploma course is being offered at this institute to uplift the image of the real estate community and to enhance their competency in the market. In addition to real estate professionals, the institute invites people in leadership roles in various real estate associations. President DEFCLAREA, Management Committee of All Pakistan Realtors Association, and others. You can also enroll in other institutes to get a professional degree or diploma in real estate management.
Understand the importance of money
Real estate always involves money. As well as obtaining local market knowledge and a professional degree, you need to understand finances as well and its flow in the market. The Real estate agents must be aware of all the fees and charges involved in a property so that they don’t lose money. It is important to be able to quote an accurate price to buyers, because if a client suspects anything fishy, they will not fall for it, regardless of how good the property is.
Create Your Own Agency
After you feel you are capable of handling the clients on your own, now is the time to establish your own agency. Getting your business registered with the proper authorities will ensure that you do not face any legal complications. Your agency’s name and the way you will lead as an entrepreneur will determine the success of your business. If you succeed, you will earn more rewards than in any other field.