The property market can be a tough sector to work in. In times of economic boom, estate agents take their fair share of the spoils, but when the market takes a turn for the worse, the property sector feels the pinch more than most. This creates an industry that is highly competitive, challenging, exciting and equally rewarding.
It is likely that your job title will be that of sales negotiator. You will be expected to assist with all aspects of estate agency, working with clients who are looking to sell/rent land or property and those who want to buy it. You may even be involved in auctioneering, leasing and managing properties on behalf of your clients.
This could involve valuating a property, determining the property’s condition and comparing it with similar ones in the locality based on your local market knowledge. You will have a creative input in the marketing of the properties on your database and to maintain open communication channels between your buyers and sellers.
You will be pivotal during the negotiation process between prospective buyers and sellers, with the aim of securing a profitable sale price both for your employer and client.
This is a career that demands a lot of hard work, commitment and enthusiasm from its sales people. But the rewards are there for those who are determined to succeed.
Hours and environment
Sales negotiators can expect to work between 37 and 40 hours each week, and be prepared to work extra hours to fit around clients’ requirements. This could typically involve working in the evening and at weekends, often on a shift rota.
For those of you who enjoy getting out and about, the role of sales negotiator is ideal — much of your time will be spent out of the office undertaking valuations and meeting with clients on their premises. Although travel will play a large part in your day to day job, it is unlikely that you will need to stay away from home overnight.
Skills and interests
It’s all very well being a good salesperson, but to be a good salesperson within the property sector you need to have more than the gift of the gab. Customers will expect you to understand the local property market, to know what areas are potential hot spots and what areas are best avoided. They will expect you to be honest and work with them to ensure they find the right property, at the right price, in the right location.
After all, buying a property is perhaps the single biggest purchasing decision that people will ever make in their lives, and they will need someone who they can trust to guide them through the process. Could you be that someone?
To be a successful sales negotiator, you will need to possess:
- A results-orientated mentality
- Excellent communication and closing skills
- The drive to thrive in a fast-paced environment where hard work, customer service and meeting targets are your motivation to succeed
- The ability to work as part of a team
- Local market knowledge
- Strong negotiation skills
- A smart appearance
- Organisational skills, planning and time management
- Ability to work under pressure within a target-orientated environment with minimal supervision
- Good numeracy skills
- Keeping up to date with trends in the local residential and/or commercial property market
Industry
Following years of unprecedented growth, the housing market’s bubble soon burst when the recession hit in 2008. Property prices dropped almost as quickly as they had risen and home owners were seeing their equity levels diminish.
Bearing the brunt of the economic conditions and downturn in the housing market were estate agencies. With fewer houses being sold estate agents responded by diversifying their businesses with many expanding into the growing rentals markets.
Today, the property market is already showing strong signs of recovery. Although it may take until 2011 before the market returns to the pre-recession levels of 2007-08, the UK economy is in recovery mode and demand for sales people is already on the up.
Entry
Employers will look for candidates with the right skills and attributes rather than academic achievement to succeed in this business. However, having a degree could be beneficial if you intend to eventually move into a related field, such as surveying, estate management or town planning.
If you have some experience in another sales or customer services role, this will add value to your application because employers will be looking for people who can demonstrate good business awareness combined with strong presentation and communication skills. As this is a commission-driven environment, you will need to be highly motivated and driven by a hunger to out-perform the competition.
Training, other qualifications and advancement
Most new starters will undergo an initial in-house training programme with their employer combined with ongoing support in various aspects of your role. Thereafter, career progression up the proverbial ladder may involve moving to a larger branch or even out of area.
Having gained experience in your role as sales negotiator, you can move in to a senior sales negotiator role where you will be given a wider remit in terms of your portfolio of clients, which could include both property lettings and sales or selling off land.
From here your career can really take off. With consistent achievement of results and a demonstrable track record you could then be promoted to the position of branch manager, where you will be responsible for managing a team of negotiators and administrators. Where you go to next will depend on your personal ambitions.
Theoretically, you could move into an area manager then national sales manager role. However, promotion opportunities into these roles can be few and far between, and at this stage, many estate agents opt to go down the self-employment route, becoming a partner or sole principal of your own firm.
It is only at this point in your career when professional qualifications enter the equation, especially if you are considering setting up your own company. While others may take advantage of their experience to date and follow a different career path by retraining as a surveyor, for instance.
Top employers
It’s not just estate agencies who employ sales negotiators, many banks and building societies also operate a property arm to their businesses. Whoever your employer, it is likely you will gain experience across a range of specialist divisions, such as commercial, rural, corporate or residential property, planning, surveying and property investment.
Some of the biggest employers include:
- Savilles
- Foxtons
- Haart
- Halifax
- Sequence
Search latest property sales jobs
Professional organisations
For more information on your chosen sector and to find out about the career and professional development opportunities available, there are a number of accredited organisations that are there to support you throughout your career: