I’m often asked if it’s possible to learn on the job when you’re becoming a buyer’s agent. Well, you’ll know that I’m a great believer in getting some solid real estate sales experience behind you first. However, once you have two to five years of experience under your belt, you can switch to being a buyer’s agent under the guidance of an experienced industry-active advocate and learn rapidly as you go.
Being a buyer’s agent is much more complicated than being a real estate sales agent. Among other aspects, you need to understand more about property fundamentals, market analysis, changing how you work with clients, and managing any conflicts of interest.
That said, you don’t need to know everything all on Day One. Our lives are about learning continually. With the right guidance and support, you can build your knowledge rapidly and over time.
Importantly, learning on the job is going to be easier if you’re with a reputable advocacy agency or a supportive industry association. If you’re operating on your own, you’ll struggle to keep up.
Solo buyers’ agents
While it might be tempting to take all your methods and customer relationship management tips and tricks from your real estate sales life, you’ll find that your requirements as a buyer’s agent are somewhat different ‒ and you may not even understand how. Without the exposure that you’ll get under an established and credible brand, you’ll struggle to get visibility. You are going from being an employee to a business owner and this is vastly different from listing and selling property. Not only do you need to get up to speed quickly, running a business from scratch, you need to be visible and invest substantially in a website and a good social media presence. and you likely won’t know where to start.
Fear not. You can learn all these aspects of your business as well as becoming proficient as a buyer’s agent. You just need to remember your key role is to protect your clients’ interests and go from there.
Earning while you learn: what you need to do
As in any industry, learning how to be a buyer’s agent on the job follows a tried-and-true set of steps.
- Learn from an experienced, industry active buyer’s agent
When you’re in the learning phase, you don’t know what you don’t know. So seek help or note what the long-term active buyer agents are doing.
- Ask questions
Don’t be afraid to find out more from those active buyers’ agents who have built their own knowledge and systems over time.
- Try different approaches until you find one that suits you
We can’t get it right on the first try. Experiment with different methods of prospecting, managing due diligence, and networking with real estate sales agents.
- Tap into a group of like-minded professionals
Sometimes, you’ll arrive at the best solution to your problem with the help of a supportive industry group such as REBAA, who’ve stood in your shoes and understand the complexities.
Success or failure as a buyer’s agent
We all need help, even if we don’t admit it even to ourselves. To succeed in the exciting field of buyers’ agents and vendor advocates, you’ll do well to get yourself a mentor. Your mentor needs to be an experienced buyer’s agent who is actively working in the field.
It’s also wise to get ongoing training on the many varied aspects of being a buyer’s agent.
Join us at Property Mavens Group
Become a Property Mavens ‘Agency Owner’. Currently we are in a growth phase and we’ve got more buyers wanting help and leads than our team can handle. We’re recruiting property professionals and buyers’ agents to join us.
Now’s the perfect time to make your move but we have limited places available in this strong buyers’ agent business, with leads in Melbourne, Geelong, Bendigo and Ballarat.
Want to know more ? Call Miriam Sandkuhler, on 03 9988 2266