There are schools as well as online courses for every trade and industry – from engineering and cooking to manufacturing and marketing. However, there is not a single institution that provides a comprehensive education for people who want to pursue a career in the real estate industry. Real estate is an ever-changing industry, gradually growing and becoming an extremely fulfilling career option. Based on my decade-long journey in this field, I firmly believe that real estate is complex and requires formal education and on-the-job training to be successful.
Current real estate professionals
Like your competition, you need to leverage technology and drive strategy forward if you’re in the real estate business. Some people venture into the real estate business without knowing the market or having a solid understanding of the industry, unwittingly leading clients to misinformation, wasted time, and ultimately failed deals. This is where an industry-focused education comes in.
I have seen several real estate agents make money and achieve magnanimous success in real estate without any sort of college degree. I think about how I started my career. Their knowledge comes from years and years of hands-on industry experience. However, I also believe that investing in industry-focused real estate education is absolutely critical to the success of new real estate agents. There is a lot of information and a certain set of skills you need to market properties effectively. In addition to fulfilling the basic role of a Realtor where you negotiate effectively, handle customer objections, make sales pitches, you must also be knowledgeable about current events, laws, policies and regulations that govern the business. industry you represent. In my opinion, all of these aspects of the industry can only be taught through formal industry-focused education.
How will an education focused solely on real estate help?
Getting a real estate education will keep you up to date with the latest industry standards and regulations, giving you a competitive edge as an agent. Other reasons why a real estate education is important and can propel your career include:
In-depth knowledge of the real estate sector
Real estate is one of the most recognized sectors worldwide. In India, real estate is the second job generator after the agricultural sector. Thorough knowledge gives you a competitive edge over others, in terms of understanding the laws of the land, as well as knowing the likely value of a certain property.
Serve as a bridge between the workforce and industry demands
Local news outlets, real estate blogs, social media, newspapers, TV and radio are all great sources of information that affects business. A stronghold on industry and its auxiliaries is important for any operation. But how to identify market needs? Extensive training ensures you have the foundation to successfully bridge the gap between workforce and industry demands and up-to-date information on market trends.
Build a network, grow your business
Where do you think the best resources are? Other successful real estate agents in your network! Real estate is a people business – the sooner you understand that, the better. Networking with other real estate professionals is crucial as everyone brings something to the table – be it their expertise, operation, tact or skills. Tacit knowledge based on expert experiences helps to understand the industry and therefore to perform well. Education can provide exposure to industry experts whose success stories can help you grow your business.
Build relationships with customers, focusing on the experience
Building strong client relationships is essential to success in the real estate industry. 1 in 2 homebuyers have had bad experiences with brokers and sellers. By learning about everything your customers want and need, you can better serve them and build lasting relationships. An unwavering education in the industry will help you display a credible personality, one that consumers will easily trust.
Be ahead of the game
It’s always a good idea to keep your skills sharp and up to date, especially if you want to be a successful realtor. Real estate education helps you stay competitive by keeping you informed of the latest market developments. Plus, as the pool of talented real estate agents continues to grow, it’s more important than ever to be able to stand out from the crowd.
Real estate education can be beneficial for many reasons. It can teach you how to manage your time more effectively so you can be more productive. The training will also provide you with the skills and knowledge you need to constantly improve yourself and improve your work habits.
The real estate industry can be broadly divided into development, sales and marketing, brokerage, property management, lending, and professional services (legal, accounting, etc.). A basic education in real estate can help build stable careers in each of these sectors. EdTech platforms like EdState have organized courses with a curriculum that covers all aspects of the real estate industry. Today, aspiring real estate agents can truly invest time in studying the nittigritites of the industry and enter the job market as prepared professionals.
The world of real estate can be very competitive. Becoming a successful real estate agent or broker not only depends on your ability to build relationships with clients and close sales, but also to continually absorb knowledge about changing trends and advancements in the field. Learning the importance of real estate education can dramatically increase success and satisfaction in your real estate careers.
Author: Mayank Agarwal, founder of Green Cottage and EdState, co-founder of Bregoland