In the last year, a total of 34,551 new real estate companies have been created, 71% more than five years ago. Are we facing a new boom in the real estate profession?
Yes, there is a boom of people who have seen that the real estate market is profitable. There is not, however, a boom of promoters, because in order to be an initial capital is needed that in the past the banks lent but now it is more complicated. The vast majority of these new companies are real estate brokerage firms. And you have to ask how they are prepared to provide services to customers.
What should a good real estate professional offer?
Must be a person who advises, who looks after the interests of customers and who has good knowledge. It must be up-to-date on the housing market, but also on macroeconomics, taxation, real estate valuations, decoration and reforms ... It must be someone who really contributes things that the clients themselves can not achieve. What can not be is that a real estate professional always gives the client reason, even when the client is making mistakes.
What is the profile of the new professionals who are creating real estate companies?
There are two great profiles. One is the one who joins a franchise, and it is the franchise who is responsible for training and advising, with what reach a certain level, do not start from scratch. In addition, many times the franchise is already looking for professionals with leadership skills, entrepreneurship and team management.
In the second profile we find professionals of all kinds, but often the person who without any knowledge of this sector, overnight, decides to open a real estate because he thinks he will be able to earn a lot of money, but without having previously trained. Good real estate agencies there are many. Those who have survived the crisis undoubtedly are, have done things well, give good service to their customers and have a vision to seek new business niches. Among the very recent real estate agencies that are not under the guidelines of a franchise, there are sure to be some good ones, but surely there will also be many bad ones if they have not opted for training, both for owners and employees of these new companies.
I believe that it has not been learned. There are still people who close other businesses or leave other professions to join the real estate sector thinking that it is very easy to earn enough money. A functioning real estate agency can recover the initial investment in six months, and the main person can earn about 200,000 euros per year if it does fairly well and is in a growing area. But for that you need to be well trained, have business skills and know how to take advantage of opportunities. Many who believe that it is easy to get involved in the real estate sector will be very disappointed.
What training should a real estate professional have?
It depends on the objectives of each one. The master's degree that I direct, for example, is specifically aimed at those who want to stand out and be first figures in the real estate market in Spain and are committed to this with a very high quality education. Those with more modest pretensions can find many other courses in the market. The most important thing is that they make sure that they will receive good technical knowledge. The training market has an overdose of motivational and emotional courses, which are interesting, but for real estate intermediaries the fundamental thing is to train in what their clients are going to ask them, which will differentiate good professionals from not so good ones . And what they are going to ask for are technical issues.
Can anyone be a good real estate professional?
Of course. And you do not need a university degree to be a good real estate professional. In the case of the brokers, the owners of the real estate agencies, they must bet for the maximum possible training, and be always up to date. For many years that they have in the profession, they must always be willing to learn, and also bet on the continuous training of their employees. In this sense, the operation of the franchises is exemplary, which are concerned with both the training of brokers and employees in a differentiated manner. Agency owners are offered not only specific training in the real estate market, but also to be a leader, be a good manager and lead human teams.