Becoming an estate agent has never been easier. The fact that an agent does not need a degree or academic training has helped keep the supply of estate and letting agents at peak levels.
However, the trend has been that even though it is not mandatory, many estate agencies have required their new employees to have some sort of estate property or letting education on their resumes.
This education has been helpful to many agencies as they no longer have to start at square one to train those people who want to be estate agents, etc. These agencies can just plug their new hires right into their system and not lose any time.
This is a bit difficult to say as no one knows what the future will hold. However, there may be a rise in estate agent training courses as more and more agencies require their new hires to have this education.
The question is, how will those new hires get that education? With Covid and all the lockdowns, people had more time on their hands. They may not have been able to go to work, do their normal exercise routines, or go out for entertainment and restaurants.
This left a lot of hours to fill. Many of those people turned to learning about the estate industry; This crisis helped spawn a new wave of learning as estate agent training courses popped up all over the internet.
Some were quite successful as they were training up to 3500 in one month. With the crisis and lockdowns basically over, we may see a downturn in enrollment in those courses.
Two things will happen. The students either go back to work, or they will enrol in those in-person schools that provide top estate agent education. But that does not mean that online schools will disappear. There will always be a need for them. They just may not have the high enrollment again.
The future does predict that there will always be some form of estate agent training, and if agencies go back to mentoring, that will be an added bonus for new hires.
Again, this is not something that can be predicted. There will always be a need for the real estate industry as people will always want to buy homes or buy to let. Real estate is always a sound investment as the real estate industry is cyclical.
The real question will be, how will the estate industry conduct its business in the future? With the advent of social media outlets, websites, and other online options estate agents and agencies can use, the in-person format may not be as important as it once was.
More business will be done through smartphones, website contact, direct messaging, and social media than ever before. The only time the estate agent has to meet their client is for a home walk-through and when paperwork needs to be signed.
Estate and letting agents, as well as estate agencies, will still exist in the future. Their methods of operation will simply change. Coming into the office may be a thing of the past as well as technology makes it easier to work from home.
The one thing that remains constant in the real estate industry is that it is cyclical. There will be bad times when values and rental prices drop, and there will be good times when those same elements are just right. Then there will be those times of inflation when prices go too high.
At some point, the bad turns to good which turns to overpriced, which returns to bad again. Right now, the future may hold more challenges for home buyers than in recent years.
There may also be less urgency to buy real estate as people work from home and enjoy the comforts of their homes. Since they are not commuting, there is no motivation to find a place closer to their office or place of employment.
There are other factors that help keep people in their current homes. Crime may make showing a home less likely. No estate agent wants to be a victim of a crime for simply doing their job as they were trained.
If nothing changes in the near future, house prices may not be as affordable for some time. People are priced out of the market. These have been the same trends for over a thousand years, and they will still be the same trends that rise in the future.
The only thing that may change will be the cost of the homes and the rental fees. Technology will only influence those costs and fees and change the way business is conducted.
This has been a mainstay of the estate business in the country. A new hire is not required to have a degree or any education in real estate to become an estate or letting agent.
This situation has motivated estate agencies to train their own people from the ground up. It has been an effective system for hundreds of years. Having a mentor to guide you through the minefields of the estate industry has helped many new hires build confidence and develop new skills.
However, this may change as more and more institutions and other businesses see estate agent training as a lucrative endeavour. They can see that providing the training beforehand will not only help the students but the agencies as well.
There may be more academic training and less mentoring in the future.
If you want to be a successful estate agent, then give our office a call. We have over ten years of experience training new hires and turning them into good estate agents. When you want to be the best, you come to the best so call us today.
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