Home' API Magazine : June 2014 Contents 36
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What this means is that as an agency representative, they’ll
learn all the tricks and traps of the selling agent profession. It’s
essentially a more glamorous name for an apprentice.
An introductory course of study is usually completed, most can
be undertaken online or in class, and generally run for two weeks
full-time. This entitles the selling agent to either represent the
licensed agent in transactions, or he or she can undertake a
more intense course to register for their own licence.
Minimum requirement: A selling agent is referred to as a
‘property consultant’ in Tassie. Their only legal requirement is to
pass an exam with the state’s real estate regulator the Property
Agents Board. To sit for this exam, students are required to
attend three weeks of classroom training or distance learning.
Within two weeks of sitting the exam with the Board about 95
per cent of candidates are successful.
After passing the course and securing a job, the candidate’s
details are registered at the real estate office where they start
their first role.
Minimum requirement: Selling agents must be a ‘suitable
person’ as defined under The Property Agents and Motor Dealers
Act 2000 (PAMD Act). People affected by bankruptcy or criminal
convictions may not be eligible.
æFor two years I was thinking about changing to real estate, I’m not
sure why it took me so long because now I’ll never look back.Æ
The PAMD Act requires all individuals undertaking the
functions of a salesperson or property manager in Queensland to
have a registration certificate.
To obtain a registration certificate the individual must
complete the registration course, which they have six months to
complete from the moment of registration.
They can study from home, at their own time by distance
education, or attend a four-day block course in any
Individuals must also complete and submit their registration
certificate application (a PAMD Form 3) to the Office of
In Queensland, a holder of a registration certificate may
undertake the work of a salesperson, property manager
or assistant to those roles as an employee within a real
This certificate authorises the holder to work across the
spectrum of residential real estate, commercial and industrial,
business broking and buyers’ agency.
Note: Queensland is the only state where a capped
commission percentage exists, but this is likely to change under
the Property Occupations Bill 2013, which will deregulate real
Currently, selling agent fees are capped at five per cent of the
first $18,000 of the sale price, and 2.5 per cent of the balance of
the sale price.
Sky’s the limit
Before Sydney-sider Alicia Parlby became a selling agent she was
helping investors build equity through art.
She worked in the secondary market consigning, showing and
selling valuable art pieces at galleries and events.
Feeling she had reached as far as she could go in the industry,
property selling seemed like a natural next step. She has
family members in real estate selling and developing, so it was
something she’d grown up around from an early age. It felt a
comfortable fit for her.
“For two years I was thinking about changing to real estate, I’m
not sure why it took me so long because now I’ll never look back,”
She knew the only way to get started was by working under
a standalone licensed agent while undertaking her course.
Fortunately, she found a good sales team at Surry Hills.
Initially she admits to taking a 50 per cent pay cut from her
previous job while she learns the ropes and works under a licensed
agent, however in the long term she knows it will all stack up.
In the past 12 months Alicia would’ve earned circa $45,000.
She adds that not having family or financial commitments yet
means she can live on a much tighter budget while she completes
her training and study.
But she’s more optimistic about her future income. “The sky’s the
limit in real estate,” she says.
In three years she intends to be bringing home between
$150,000 and $200,000. “The location is a big part of being
successful as an agent,” she says.
“Surry Hills is a good area with high
turnover, high values and a good mix of
terraces and units.”
She hints that if looking for
employment as a selling agent, and
to investigate how a potential real
estate workplace performs, research the
agency’s market share and success on
RP Data, Domain, realestate.com.au and
speak to agents. “Do your research.”
Alicia is already building her personal database of contacts and
investing dollars in building her personal brand alongside her
She says that top end property doesn’t appear to be more
profitable than her area, because the volume in these places can’t
keep up with the pace of Surry Hills.
Alicia is realistic. “I don’t expect everything to happen
overnight – I need to build up from the beginning, but at least I
had transferable skills from the start,” she says.
“Apparently 80 per cent of new agents don’t continue into their
second year mostly due to the loss of weekends and low starting
income. I know someone who did just that.
“New agents need to set long-term goals because the money
won’t come immediately, it takes a little time to build the
knowledge and experience to reach the higher levels... and adjust
to the change of lifestyle on the weekends. But it’s all worth it in
the long term.”
BEHIND THE SCENES // SELLING AGENT
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