Now that you have decided that real estate is something that you want to pursue, you will need to become qualified. Not only will you have to achieve certain qualifications to begin your education as a real estate agent, you will also be following online training as well as completing an internship.
An internship is a process of learning while you are working. You will find a real estate agency that will take you on as an intern and then work under the mentorship of an agent with at least three years experience and recognized as an official mentor by the EAAB (Estate Agency Affairs Board).
Fidelity Fund Certificate
You will be licensed to operate as an intern with a Fidelity Fund Certificate.
The great thing about the intern programme in the real estate industry of South Africa is that it gives the aspirant immediate hands on experience. You get to jump right in feet first. Interns can get down to work immediately. You can begin to show clients property, create and execute marketing strategies, and as soon as you have the hang of it you can, through your mentor, even advise clients on legal matters, costing and price negotiation. Of course you will also be learning to keep up with all the administration that is expected of a real estate agent.
In total over the entire year the intern will probably log up to 1500 hours in formal training. The bulk of these hours can be clocked while at work, but interns will also be expected to study and do courses in conjunction to the practical side. Most interns will opt for the online training for estate agents. This allows you the flexibility to study at your leisure and fit your courses and classes into your schedule. After this internship period, you will complete your NQF level 4 portfolio of evidence and be found competent by Services SETA. Then you will be required to pass the EAAB’s examinations (the EAAB”S Professional Designation Examination), PDE level 4, and if you are aspiring to become a principal (to own your own business) the NQF level 5 and PDE level 5.
You can, however, also apply to earn credits for previous education and ‘prior learning’. This means that you can gain credit for diplomas or national certificates that hold in other fields sectors that could pertain to real estate. Inquiries about exemption status can be directed to PropAcademy who assist you in completing the required EAAB documentation.
One thing that you will need to be aware of as an intern is that you must always make the client or customer aware that you are in fact an intern. This must be transparent at all times. Failure to do so can result in disaster!
When asking the seasoned and successful agents in the field today how to go about finding the right internship, the answer is pretty much the same across the board. Find a mentor who embodies the ethical standards and code of conduct expected from a well qualified estate agent and then cultivate your own set of standards. You can’t go wrong.