Property of the tough

By STEVE HART

Teresa Reynolds is on track to earn $100,000 this year after only six months as a real estate agent. She says anyone can do it - so long as they have the right attitude and follow what she calls an established system.

"It's hard yakka, it's tough and you have to be really confident and self-motivated to do it."

A career in real estate can be rewarding but until recently its high attrition rate meant around 80 per cent of those who entered the industry left within 12 months, according to John Wall who runs L.J. Hooker's Future Champions training programme.

"There are some companies who, if you have a pulse and can walk and talk, will give you a seat in their office and say, 'Off you go and good luck'."


Real estate salespeople must complete the salesperson's course which is part one of the National Certificate in Real Estate before they can start. The course covers things such as listing properties, marketing, setting price ranges and qualifying buyers.

Two years ago, Wall says his firm started employing people who were new to the industry only after assessing a candidate's suitability to the career.

"If a person isn't right for us, or we believe the career is not right for them, then we don't hire them. Those we do hire can choose to join our Future Champions programme."

The programme costs $180 a month for 24 months.

Candidates initially go on a five-day training course to prepare them for the job of cold calling and networking and receive mentoring and additional courses over the two-year period.

Reynolds was one of the 76 people to join the Future Champions scheme six months ago after giving up a sales career in the cosmetics industry.

"On the first day of the training we talked about the basics. My personal goals, what I wanted to achieve and the steps I needed to take to get there.

"The next four days were about working in real estate and using our time to our best advantage. For example, I pay someone to deliver my leaflets and we are encouraged to employ a PA as soon as possible to handle all the paperwork. As an agent, I have to keep focused on my job and not be side-tracked.

"The course shows us how to compete for listings, customer service - we learn everything we need to do our job. Unlike other sales positions, real estate agents have to find the product to sell."

Wall says a career in real estate is a rocky road.

"It's relentless, with agents being called from seven in the morning until late at night. It's a lifestyle, not just a job, and people have to be prepared for that."

It's a view shared by Harcourts' CEO Bryan Thomson, who says the Harcourts Academy training programme offers people "a thorough grounding" in the real estate industry. It used to be a disgrace," he said. "People were hired and left to their own devices. I'd hate to think any of that goes on today."

Head of the academy is sports and performance psychologist Gilbert Enoka, who joined the firm full time last year and is known for his work with the All Blacks.

John Ross of the Professionals says its Skill Builder programme is helping those new to the industry. He says 73 people passed through its new salesperson's course, which is run over the first 90 days in the job and includes three-day and one-day courses. Barfoot and Thompson offers newbies a two-day induction course.

Overall, it seems industry training for real estate agents is now quite widespread, although some course content varies and some have to be funded or part-funded by the sales staff.

Wall says in the past 16 months L.J. Hooker has taken on 97 people into its Future Champions scheme and 84 per cent are still with the firm.

"It used to be that 80 per cent of those people who joined the industry left within three to nine months."

He says while there are some high flyers who have earned in excess of $100,000 in their first year in the job at the company, the majority of sales staff earn around $35,000 to $55,000 a year in commission.

Wall says people considering a job in real estate should have three to six months' worth of living expenses in the bank.