Choosing a career at the age of 18 is one of the most intimidating decisions you will ever make, filled with second guessing, apprehension, and anxiety.
You decide the rest of your life in the simple click of a button. Luckily, this doesn’t have to be the case.
You can change jobs, career, or even choice in education as many times as you like until you find something that fits perfectly. After all, what’s the point if it doesn’t make you happy?
When sculpting your life as an adolescent, you’ll likely seek the advice of your elders (be it parents, friends, whatever). The stereotypical response usually is ‘go into law or become a doctor, the salaries are great’. While the money is great, those careers simply aren’t for most people.
One field that is generally overlooked is property agent. From appraisers to advisers, there are a number of jobs within the sector. However, one position stands more popular than the rest. Holding a license to rent, they go by the name agent, letting agent.
Puns out of the way, the letting agent is the most commonly known job within the property domain (mainly because of the perks of being a letting agent!) and is your contact when buying, selling or renting a home.
Agents are most attributed to being the intermediary between the buyers, renters and sellers of property but this is only one of their many duties.
Without going into great detail, letting agents are responsible for leasing homes, evaluating mortgage options, and inspecting properties.
With great responsibility comes great financial compensation (one would assume) but the starting salary of a real estate agent is just £12,000 – £20,000 in the UK and $33,000 in the US.
The monetary rewards do become more handsome as you progress through the agency ranks but it is the other perks that could be more beneficial.
Most letting agents and realty firms work on a percentage based policy where if a property is sold/rented the company or agent will receive a percentage.
The percentage is usually between 10 and 15 percent, which for a £500,000 home is £1,500 upwards. From this the agent responsible for the rental of the property could receive up to 20% of the profits, raking in a cool £300 on top of the salary every month, a perk to being a letting agent!
A growing market
There has been a traditional formula for anyone looking to rent their property since the beginning of the letting agent: the customer approaches a firm or agent and pays for their service via way of percentage.
Now, online letting agents offer a new service where customers pay an initial fee and list their properties online. This new business model has presented thousands more opportunities for letting agents, in the way of jobs, experience and even the option to launch their own online estate agency.
Less desk dwelling
In the corporate world many employees can be found crammed in a cubicle or designated to a desk. While some enjoy the routine, others despise it.
Studies have shown that prolonged sitting behind a desk can lead to depression and other mental health problems.
Letting agents lead a more active career, as they can be found hosting viewings for tenants, open houses for the more luxurious properties, and inspecting homes they manage
Discounts & Bargains
Selling or leasing your first property is a monumental and expensive step in everyone’s life. As you could probably expect, if you have the ability to sell/rent your own property you’re likely to receive a discount on it.
Letting agents can usually expect to see the rent lowered if they choose to lease their property through the agency or firm they are employed by.
In addition, by having access to the properties that are just listed you’re able to to see houses faster and make offers faster, allowing you to snag some real bargains adding to the perks of being a letting agent.
While some letting agents do get a bad rep, it is still considered a professional career choice and a career with such prestige would need at least some sort of degree, right?
Wrong! Most agencies do not require specific qualifications and will allow you to gain all of the necessary certificates on the job.
Getting put forward for qualifications by your employer while on internships is another major perk letting agents get, propping up their knowledge and increasing their career prospects.