A buying agent works for other parties to purchase goods or properties. They can buy various products but one of the most common types of buyer’s agent is an intermediary who purchases real estate properties. They work as a negotiator and researcher who finds the best deals for their clients thus removing this responsibility from the buyer. On top of this, they will advise the clients on the legal processes involved in these purchases. They will develop a portfolio of properties through extensive research and regularly undertake the viewings. Having been advised by the buyer they will narrow down the search and act professionally throughout, utilising their negotiating skills and knowledge to make the purchasing simpler. This is not a role which can be undertaken without the necessary qualifications so how do you know what education and certification are necessary to find employment in the field?
Initial Education Requirements
It is highly recommended that you achieve a bachelor’s degree before applying as a buyer’s agent. The ideal degrees for such work is in business and marketing but given the variety of courses available other appropriate courses can include accounting, economics, risk management and interdisciplinary courses which incorporate some or all of these areas.
The necessary requirements will vary depending on the location in which a buyer’s agent will be working. Certain stipulations can vary but various Real Estate courses are available and they will be able to advise you accordingly. In terms of the actual training beyond the initial courses, it is a job which you learn through doing it after having worked on the base theories involved. Different buyer’s agents will specialize in different demographics or regions and this can dictate the training which will come on the job. Use your time to garner as much information as possible from the more experienced colleagues and if in doubt ask.
Knowledge & Experience
These are the two skills which are not only invaluable to the role but cannot be learned. Obviously, they come with time but as more time is spent within the job the experience will create and expand the knowledge and with this, you will be able to work more efficiently and provide better results for your clients. It is quite common for buyer’s agents to have had little experience with surveying and this will improve as your knowledge and experience do.
State or national requirements will dictate what is required but being licensed is obligatory in most regions. For example, Buyers Agents refer you to the Property, Stock and Business Agents Order 2009 as an update to section 15 of the Property, Stock and Business Agents Act 2002. Research what is required for the places you wish to work, both in the near future and beyond that. It might be beneficial to aim for the licensing requirements of employment places you might desire going forward so that you are not having to revisit them and potentially pay to do further certifications. Be aware that whilst the time periods to complete your license can be full time or part time as with most qualifications there will be a maximum period over which you can complete them. Ensure that you understand the timeframe so that you do not have to start any licensing again as this will obviously prove to be both a financial burden as well as holding back any future plans.