THE construction boom over the past decade has been of huge benefit to the economy, but certain sectors have benefited more than others. The Government, development companies, construction workers and estate agencies have been the big winners of the day and a generation of estate agents and builders devoted to the property boom have been spawned.
With rising house prices, it would appear estate agency is a very viable profession and one that can net certain individuals a fortune. The number of estate agents in Ireland has increased in tandem with the property boom.
Peter Kenny, director of residential sales with Colliers Jackson-Stops, says an estate agent starting off will assist a senior person in measuring, valuing, showing and selling property so he or she gets a grip on the business.
While in the past juniors would have been exposed to all property types, the business is now more segregated, with separate residential and commercial markets. Mark Reynolds, director of the development land division of Hamilton Osborne King, says that on the commercial side, agents deal with more property types and have greater knowledge about legal issues such as planning permission than in the past.
"Somebody selling a house would be pretty much just involved in the marketing and sales side, " says Reynolds. The skills required for both sectors are similar , , the ability to market, close a sale and talk to people as well as good presentation skills.
The most important thing for a new agent is to learn to listen to what the sellers want and what the buyers are looking for , , if they can act upon that they will be successful.
Estate agents tend to climb up the career ladder by moving from operation to operation to get a promotion.
"If you sit in a company for 20 years, the progression is very slow, " says Kenny. People skills are a must, he says. "You can't be a shrinking violet and be an estate agent. You need to be able to chat to people. I spend most of my time making friends with people, getting to know them, " he continues.
There is a range of courses on offer, from post-Leaving Cert (PLC) courses to degrees.
Estate agents are usually members of the Institute of Professional Auctioneers and Valuers (IPAV) or the Irish Auctioneers and Valuers Institute (IAVI).
The Senior College in Dun Laoghaire offers a two-year PLC course in auctioneering and estate agency. The course offers certificates from City & Guilds, IPAV and the Further Education and Training Awards Council.
Meanwhile, IAVI has approved several courses, including the degree course in valuation surveying at Limerick Institute of Technology and the degree in property economics (valuation and surveying) at Dublin Institute of Technology (DIT). University of Ulster, Jordanstown also offers a four-year degree in surveying with specialisms.
Diploma courses approved by IAVI include the three-year auctioneering, valuation and estate agency course at DIT and the three-year property valuation and estate agency course at Galway-Mayo IT.
Graduates can expect long hours. While a contract of employment may say 9am to 6pm, anybody, especially in the residential field, could start with an 8am appointment and not finish until 8pm because people want to view property after work.
Different companies have different pay structures.
A general base salary guideline is between 20,000 and 25,000, plus commission and expenses.
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