Property owners typically hire an estate agent to market their property for sale. The seller typically pays the estate agent's fees, which are typically a percentage of the property's sale price, although fixed fees can be negotiated. Following a verbal agreement, both the buyer and the seller retain independent lawyers - known as conveyancers - to prepare the sales and purchase agreement. A purchaser's conveyancer typically conducts several property searches to ensure that the seller can transfer title to the buyer and examines any mortgages or other financing documents. The obligation to buy and sell a property only becomes legally binding once contracts have been exchanged. This takes place once both the buyer’s and the seller’s conveyancers are satisfied that everything is in order.
The property sector is centred around people, so dealing with people from all walks of life is essential. In order to succeed in the property industry, you must appear friendly and confident without appearing arrogant and have the ability to remain calm under pressure. The majority of property jobs are sales-oriented roles, so having a persuasive and polite nature is also beneficial. A person must also be capable of juggling numerous tasks without becoming overwhelmed. For most property workers, a basic salary is combined with a commission for completed transactions. Essentially, this means that if you work hard and are successful, you can earn good money very quickly. If you are successful in your career, the property sector offers excellent opportunities for advancement. Several companies offer fast-track programs for aspiring managers.
Those seeking a career change will find that the property sector is one of the easiest sectors to transition into, as there are no formal entry or qualification requirements. Ambition, confidence, charisma, communication and customer service skills, good administration skills, negotiation skills to achieve sales targets, ability to work under pressure are some of the key skills required for working in the property industry.