Advice and Opinion Study and Training

Institute of Estate Agents' induction course a good place to start if considering a career in property

The induction training course is good for those who need a refresher course or for those who are mentoring interns and would need relevant updates.

There are many reasons for those considering a career in real estate to attend an induction training course (introduction to real estate) through the Institute of Estate Agents, Western Cape before applying for any position at a real estate agency, says Annette Evans, regional manager for this branch.

“Employers are more likely to take on someone who is a self-starter and has taken the initiative to put themselves through some training, showing not only dedication but serious self-motivation,” she said.

“We come across many agencies looking for a good intern agents or administrators and what better way than being thoroughly educated and up to speed on the essential knowledge one needs to succeed in real estate before applying for a position,” she said.

The IEA, Western Cape, are running their Real Estate Induction course which covers the basics in real estate on the 25th to 27th February and again on the 22nd 24th April. The training will be held at their training centre in Sheldon Way, Pinelands and will run from 9:00am to 4:30pm each day. The cost is R1 550 for members of the Institute and R1 750 for visitors.

This induction course is quite comprehensive, said Evans. It has five modules spread over the three days and covers topics such as:

· The Estate Agency Affairs Board Code of Conduct

· Legal and regulatory environments and property ownership

· Contractual capacity

· Offers to purchase

· Financials: costs of selling and purchasing

· Income qualification

· Mortgage finance, affordability and repayments

· Prospecting for buyers and sellers

· Listing a property

· Comparative market analysis [CMA]

· Price counselling

· Mandates

· Profiling prospective buyers and lessees

· Marketing a property, which includes advertising and how to conduct show houses and viewings

· Negotiating skills and taking an offer

· Presenting the offer to the seller and dealing with counter offers

· Rules of negotiating

· The transfer process

· Agents’ personal financial and daily planning.