Are you thinking about starting a career in real estate? Do you like helping people find their dream homes? If yes, you have come to the right place.
To become a real estate agent, you must satisfy specific requirements set out by the licencing authorities in your state. Depending on which state in Australia you reside in, you must follow different steps and requirements to work as a real estate agent and get a license.
You must go through a state license exam and fill out the appropriate application to become a real estate agent in Australia. Different states have different application and license requirements, so you must fulfil your state's criteria.
Becoming a real estate agent in Australia is perfect if you get along well with people and are looking for a job that provides the thrill of closing deals.
In the post below, you will learn how to become a licensed real estate agent in Australia, the requirements for a real estate licence, courses to study, how to apply for a license, job opportunities, salary, and more.
1. What Does A Real Estate Agent Do?
Real estate agents play a crucial role in simplifying the process of buying and selling properties. They assess property values and analyse local market trends to determine appropriate pricing for transactions.
In addition to handling negotiations, real estate agents work diligently to meet the needs of all parties involved in a deal, recognising that not all transactions are straightforward.
Earning commissions based on the final sale price, real estate agents have the potential to earn substantial income. They actively promote listed properties, showcasing them to interested buyers and facilitating prompt sales.
To ensure a successful sale, agents strive to present homes in their best light, maintaining cleanliness and optimal condition. Regular property visits are conducted to monitor upkeep and address any necessary improvements.
In summary, real estate agents act as intermediaries, making the buying and selling process smoother for clients while working to maximize their own earnings through skillful negotiation and diligent property management.
2. Major Tasks and Duties of a Real Estate Agent
You can find below the various tasks real estate agents do:
Promote the sales of properties via open houses, brochures, and online and print listings.
Identify potential buyers and seek out prospective vendors.
Accompany potential buyers during property inspections and present properties.
Maintain a network of industry professionals for client referrals, such as lenders, solicitors, and contractors.
Build a network of lenders, solicitors, and contractors to refer clients.
Prepare documents and contracts, appraise properties, write vendor reports, facilitate settlements, and negotiate terms between parties.
Implement creative marketing strategies to attract potential buyers.
Provide property investment advice based on market trends.
Coordinate with property professionals for smooth transactions.
Stay updated on industry regulations for legal compliance.
Negotiate terms between buyers and sellers.
Offer property management services for landlords.
Stay current with market trends and opportunities.
Assist with property inspections and present properties to potential buyers.
Prepare documents, contracts, and vendor reports.
Facilitate property settlements.
Guide financing options, including mortgages.
Advise clients on maintenance, repairs, and building work.
Handle negotiations to achieve favourable terms for clients.
Stay informed about local market conditions and trends.
Provide ongoing support and assistance throughout the buying or selling process.
3. What Are the Requirements To Obtain A Real Estate License in Australia?
Here are the license requirements for real estate agents in all Australian states and territories.
Please note: You must understand that continuing professional development (CPD) is a requirement for real estate agents in many states in Australia. CPD ensures agents stay up-to-date with industry changes, trends, and regulations.
The topics covered in CPD courses may include legal updates, ethics, risk management, and industry best practices.
New South Wales (NSW)
To get a real estate licence in NSW, you must fulfil strict eligibility requirements, including being proper and fit to acquire a permit. Here are some of the standard requirements:
You must complete an Assistant Agent course to start your real estate career in NSW. This course qualifies you as an assistant agent under a licensed real estate agent. Afterwards, you can pursue a Class 2 Licence by completing a Certificate IV in Real Estate Practice.
This license allows you to work as a real estate agent but not run your agency. A Class 1 Licence can be obtained by completing a Diploma of Property (Agency Management) for those aspiring to become real estate principals or directors and operate their own agency.
You can apply at Fair Trading NSW for an NSW real estate license.
To become a real estate agent in Queensland, you must first meet specific training requirements and eligibility criteria for obtaining a real estate licence.
In Queensland, you start by completing the entry-level qualification called the Real Estate Salesperson Registration course. This course, consisting of 12 units of study, allows you to apply for a Certificate of Registration from the Queensland Office of Fair Trading.
With this qualification, you can work as a real estate agent under the supervision of a licensed agent but cannot open your agency. To work as a fully licensed real estate agent, including the ability to work independently or establish your agency, you need to complete Certificate IV in Real Estate Practice.
This course comprises 19 online units of study.
In Victoria, there are two distinct roles in the real estate industry. To begin working as a real estate agent or agent's representative, you must complete a Certificate IV in Real Estate Practice.
This qualification consists of 18 online units and allows you to apply for your license from the Business Licensing Authority. To become a fully licensed real estate agent, agency manager, or principal, you must complete a Diploma of Property Agency Management.
This diploma requires completion of Certificate IV in Real Estate Practice beforehand.
You can apply for a real estate license on the Consumer Affairs Victoria website.
South Australia (SA)
You can start your real estate career as a Property Manager or a Sales Representative in South Australia. To become a Property Manager, complete the Property Managers Registration course, which consists of 11 units of study.
For those interested in sales, you can pursue the Sales Representative Registration course, which includes 12 units. These qualifications allow you to work under the supervision of a licensed real estate agent.
To open your agency, complete the Land Agent course, the Diploma of Property - Agency Management (CPP50307). This qualification requires completing the Property Managers Registration or Sales Representative Registration course as a prerequisite.
Visit the South Australia Government website to learn how to become a real estate agent in South Australia and apply for your real estate agent license.
Along with the application, you will also have to meet financial probity requirements and submit the required documents, such as a national police certificate and identification and qualification documents.
Western Australia (WA)
To work as a real estate agent in Western Australia, you need a current triennial certificate and a real estate licence.
To start your real estate career in Western Australia, you can enrol in the Restricted Sales Registration WA course. Completing this course, which includes 13 online units, qualifies you to work in residential, commercial, and rural sales. However, you cannot work as an independent contractor or open your agency.
You can pursue the Unrestricted Real Estate Registration course, Certificate IV in Real Estate Practice, for broader sales and property management opportunities.
This course comprises 18 online units. To run your agency or work as an independent contractor, you can further complete the Diploma of Property Agency Management (CPP51122).
To get the agent license application form, visit the Department of Mines, Industry Regulation and Safety website. After filling in the form and attaching the supporting documents, you can submit the application by mail or in person at the Department's Cannington office.
The documents you submit usually include a statement of experience, an Australian police check, evidence of your educational qualifications, and two references.
To be eligible for a real estate agent licence in Tasmania, you must meet the following requirements:
During the previous five years before completing your application, gain two years of full-time experience as a property representative or property manager.
Complete a Diploma of Property Services (Agency Management - CPP50307).
Pay the relevant application fee.
Be considered suitable and fit to become a real estate agent.
Be prepared to continue your education.
You can study the real estate agent course via the REIT (Real Estate Institute of Tasmania).
The Property Agents Board of Tasmania is responsible for real estate licencing applications. When submitting your application, you must provide the following:
A National Police Record Check.
Proof of your qualifications.
Details of your employment/experience/knowledge.
Information about your professional indemnity insurance.
Australian Capital Territory (ACT)
In the Australian Capital Territory, you must notify the public about your intentions to apply for a real estate agent licence.
In the Australian Capital Territory, you can start your real estate career by enrolling in the Certificate of Registration course. This five-unit course allows you to apply for an ACT Certificate of Registration and work for a licensed real estate agent in property sales, marketing, or property management.
To obtain a Class 2 license in the ACT, which grants broader opportunities, you need at least 12 months of experience as a registered salesperson or assistant agent and completion of Certificate IV in Real Estate Practice.
To establish your own business and employ other agents, you must hold a Class 1 license, which requires a minimum of 24 months of experience as a Class 2 agent and completion of the Diploma of Property (Agency Management).
Northern Territory (NT)
Before applying, you must announce your plan to apply for a real estate licence in the Northern Territory News. After your notification, public members get 14 days to file an objection to your application.
You must undergo a police and probity check and complete a Diploma of Property (CPP50307 - Agency Management) to be eligible to apply for a real estate agent in the Northern Territory.
You can apply for the real estate agent online at the Northern Territory Government website. If online applications aren't your thing, you can also apply through fax, email, mail, or in person.
You can pick up the application form at your local Territory Business Centre or download it from nt.gov.au.
Note: Real estate agent licenses in the NT are only valid for one, three, or five years.
4. How Much Does A Real Estate Agent Earn In Australia?
According to Payscale, the real estate agent's salary in Australia is between AU$39,000 and AU$107,000.
They earn a basic salary, including commissions, on each sale or deal they crack. As a result, the pay may vary depending on the state you work in and the number of deals and sales you close.
5. What Is The First-Year Real Estate Agent Salary in Australia?
The salary of an entry-level Real Estate Agent with less than one year of experience can expect to earn AU$49,623 per year on average.
6. What is The Highest-Paid Real Estate Agent?
The salary of a real estate agent depends on their work experience, work location, specialisation, and the type of role they work in:
Based on Work Location
According to Indeed, the highest-paying city for Real Estate Agents in Australia is Gold Coast. Real estate agents working in the city earn around $188,496 per year.
Based on Experience
As per Pay Scale, Real Estate Agents with an experience of 20 years and above earn the highest total compensation of AU$78,611 per year on average.
Based on Specialisation
The salary of a real estate also varies based on their area of work and specialisation:
Commercial Real Estate Agent: 103,779 per year
Real Estate Manager: $98,882 per year
Leasing Agent: $90,609 per year
Real Estate Analyst: $87,944 per year
Mortgage Broker: $86,544 per year
Real Estate Agent: $82,793 per year
Property Valuer: $79,000 per year
Real Estate Salesperson: $76,790 per year
Property Photographer & Videographer: $70000 to $75000 per year
Real Estate Marketing Advisor: $66,000 per year
Real Estate Assistant: $53,855 per year
Do you want to know what the highest-paid real estate agent is? Commercial real estate agents earn the highest average salary of 103,779 per year.
7. Where Are Real Estate Agents Paid The Most?
The highest-paying cities for Real Estate Agents in Australia are:
Gold Coast QLD: $188,496 per year
Adelaide SA: $185,951 per year
Newcastle NSW: $147,393 per year
Sydney NSW: $89,489 per year
Reservoir VIC: $84,985 per year
Brisbane QLD: $83,212 per year
Melbourne VIC: $81,819 per year
Perth WA: $79,127 per year
Northern Beaches NSW: $66,460 per year
8. Frequently Asked Questions (FAQs)
How To Become a Real Estate Agent in Australia Online?
Real Estate agent licence course is available in various study modes such as full-time, part-time and online. If you prefer studying it online, consider taking this TAFE Digital course.
How Long Does It Take To Get a Real Estate License in Australia?
You need to complete the relevant real estate licence course and gain work experience based on the state-level requirements where you wish to work in.
The course duration and required experience depend on your chosen study mode (Part-Time, Full-Time, online).
In NSW, WA, ACT, Victoria, and Tasmania, budding real estate agents must work for one or two years in a full-time role within the real estate industry before applying for a licence.
Once you complete the required state-level qualification and training, you can complete a registration form with your state-level authority to obtain your real estate licence.
How Long Does It Take To Become a Real Estate Agent in Australia?
Based on your chosen study mode, it takes around four months to 1.5 years to gain the necessary real-estate agent qualification.
Also, some states require gaining 1 or 2 years of full-time work experience within the real estate industry to be able to apply for a real estate licence in that state.
Suppose the state where you wish to work in requires work experience as a prerequisite to obtaining a licence. In that case, you may need 1.5 to 3.5 years to become a licenced real estate agent in Australia.
How To Become a Real Estate Agent With no Experience?
States like Queensland and South Australia don't require you to have real estate experience before applying for a real estate licence.
It implies that you can obtain a real estate licence right after completing the required real estate course to work as a professional real estate agent in these states.
Aspiring real estate agents may need around $1,000 to apply for a real estate licence based on their state or territory.
Do Real Estate Agents Get Paid Hourly in Australia?
When working for an agency as a real estate agent, you have the potential to receive both a base salary and commissions based on the sales you make.
This structure allows for a combination of a regular wage and additional earnings tied to your performance in selling houses.
However, if you choose to work as a self-employed real estate agent, your income solely depends on the commissions you earn from successfully closing real estate transactions.
How Much Do The Top 1% of Real Estate Agents Make?
Though each real estate office sets its standards for top agents, they usually earn around $112,610 annually. Mega-stars could earn even up to $500,000 per year and above.
Most of them are listing agents who earn a million dollars in commission alone by selling properties worth $50 million a year.
What is The Best Age To Start Real Estate?
Though the right time to enter a real estate profession depends on individual financial goals, the 30s and 40s are generally the best time to pursue this career.
It is the best age to start real estate for the following reasons:
You have developed an adequate property market through education and training
You have built an excellent professional network that can help generate sales leads
You are at the height of your earning power and can secure credit
You have the passion, willingness, and time to work hard to set up and expand your business.
How Old Are Most Real Estate Agents?
According to Labour Market Insights, the average age of Real Estate Agents is 44 years, with most between the ages of 45 to 54.
Is it Worth Being a Real Estate Agent in Australia?
Irrespective of the time to become a real estate agent, the journey to pursuing this profession in Australia is rewarding.
It provides ample opportunities for professional and personal progress and the chance to positively influence the lives of clients and societies.
With patience and perseverance and investing adequate time and effort into gaining education, work experience, and licensing, you can set yourself up for a fulfilling career in a fantastic property world.
What Gender Are Most Real Estate Agents?
Around 65% of real estate agents working in Australia are males.
What Personality Types Make The Best Real Estate Agents?
If you have the following personal attributes and skills, a real estate agent career could be for you:
Good communication and interpersonal skills
Able to convince and negotiate well
Knowledgeable about the local property market and related rules and regulations
Willingness to adopt new technologies and stay up-to-date about industry developments
Mentally alert and aware of the dynamics of the local real estate sector
Presentable and Influential
Honest and Ethical
What Are The Weaknesses in Real Estate?
Being aware of potential weaknesses in the real estate sector and implementing ways to overcome them can lead you to a successful real estate career. You can find below some of the weaknesses:
Can You Be an Introverted Real Estate Agent?
Introverts usually possess distinct qualities that may lead them to a successful real estate career. These include:
Good listening skills
Moreover, people usually trust them as they don't blab and watch their words before they speak.
What Are The Strengths of a Real Estate Agent?
The best real estate agents possess the following ten qualities and skills that make them successful in their profession:
They rarely are afraid to voice their opinions.
They are enthusiastic about their work and work hard to help clients accomplish beneficial property investments and build successful careers.
They have remarkable people skills.
They put their client's interests ahead of their own and know how to communicate them most effectively.
They are presentable and take good care of their appearance.
They are hard-working and persistent in getting both parties to agree on terms before they sign a contract.
They are ethical and honest, which helps them develop a good customer base that can provide glowing testimonies of their latest successful deals.
They are attentive and watchful of the dynamics of the local real estate sector.
Time management skills
Besides soft skills, good real estate agents have extensive knowledge of the local estate market and regulations in different areas. It helps them identify locations that present good real estate opportunities for their clients.
What Are The Most Important Things in Real Estate?
If you plan to make a career in real estate, you must focus on the below areas that are desirable to work in this profession.
Clear and timely Communication skills
Market knowledge and familiarity with real estate rules and laws in your state
Time management skills to stay organised while managing multiple tasks simultaneously.
A broad professional network as you need referrals to reach customers and grow as a business.
How Much is a Real Estate Course in Australia?
The course cost depends on your study path to become a real estate agent. If you choose a VET pathway: Certificate IV In Property Services - TAFE. Fee: $2994 (without government subsidies)
NSW Government-subsidised prices:
Traineeship (for new entrants): $1,000
First qualification: $1,980
Second qualification: $2,310
If you prefer earning an undergraduate qualification in real estate: Undergraduate degree Bachelor of Property and Real Estate – Deakin University
Estimated tuition fee - $13,244 for one year full-time - Commonwealth Supported Place. The cost is subject to change annually.
How Hard is Getting a Real Estate License in Australia?
The real estate licencing requirements vary between states in Australia and depend on where you wish to work.
So, the difficulty level of obtaining a real estate licence depends on the real estate qualification, prerequisite coursework (in real estate), and work experience you need to apply for a fully licensed real estate agent in Australia.
Some states require one or more years of experience as a real estate agent's representative before applying for a real estate license. Course requirements vary between states, and the study duration depends on your course.
It is usually between 4 months to 1.5 years, based on your study mode (part-time or full-time, on-campus or online).
According to Indeed, standard real estate courses for each state/ territory are:
New South Wales- Certificate IV in Real Estate Practice (CPP41419) in NSW. It is a replacement course for the earlier real estate licence qualification, i.e., Certificate IV in Property Services (Real Estate) (CPP40307)
Queensland- Property Services Training Package (CPP07)
South Australia, Tasmania, the Australian Capital Territory, Western Australia, and the Northern Territory: Diploma of Property Services (Agency Management) (CPP50307)
Victoria- Certificate IV in Property Services (Real Estate) (CPP40307)
Diploma of Property Services (Agency Management - CPP50307)
If you study full-time, you can finish your training program in less than one year. After completing the required training and experience, you can apply with proper documentation to obtain your licence within 4 to 6 weeks.
Are Real Estate Agents in High Demand in Australia?
The government expects moderate growth in work opportunities for real estate agents in the coming years.
Strong population growth, rising demand for regional properties and low-interest rates are expected to increase job openings for real estate agents in Australia.
Is Real Estate a Good Career in Australia?
Yes. This can be a promising career option if you are enthusiastic, fond of meeting new people, and enjoy helping people find their desired home or commercial property.
The real estate market throughout Australia is booming! As people will always require homes, it is a relatively future-proof profession to pursue.
Furthermore, you can rest assured that a real estate career can bring in a lucrative income, particularly in the current booming times in Australia.
Additionally, licensed real estate agents have various options to specialise and earn a higher salary. They can pursue additional training and experience within the following niche areas of the industry.
Commercial real estate
Moreover, the real estate and property sector is varied and offers plenty of work opportunities in different segments, including residential to commercial leasing, large corporations, and private clients.
Common real estate careers you may pursue:
Real Estate Agent: $82,793
Real Estate Salesperson: $76,790
Real Estate Assistant: $53,855
Real Estate Sales Consultant: $76,790
Real estate analyst: $87,944
Real Estate Appraiser: $145,195
Mortgage Broker: $86,544 per year
Property Photographer and Videographer: $70000 to $75000 Per year
Real Estate Marketing Advisor: $66,000 Per year
Leasing Agent: $90,609 Per year
Property Valuer: $79,000 per year
Will Real Estate Agents Be Around in 10 Years?
The Real Estate Institute of Australia projects that the real estate market will be the key driving force behind economic and employment growth in the coming decade.
Looking at the higher demand in this sector, this is the best time to study real estate management and invest in your professional future!
Do Real Estate Agents Make Good Money in Australia?
Yes. The best real estate agents are not just experts in their field but also in marketing, psychology, and social networking. Due to their wide range of skills and knowledge, skilled real estate agents in Australia make good money.
According to the Pay Scale, the average salary for these professionals is AU$51,200 per year. It can vary based on:
What firm do you work for
What area do you work in
Whether you lease or sell housing or commercial estates
On top of it, real estate agents also earn commission and bonuses at fixed or tiered commission rates, which vary from 1.6% to 4% of the total sale price, based on location and agent competition in that location.
Considering all these, a real estate agent with experience and specialisation can make a handsome salary during his professional journey.
Now that you know how to become a real estate agent in Australia, you are ready to fill out the application form and get your real estate agent license.
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