Working as a property practitioner can be one of the most rewarding careers to pursue in an often lucrative industry. It is no longer considered as a stop-gap or part-time job. Instead it has entered the realm of professionalism without the need for acquiring a university degree. This is likely its most attractive pull-card, especially for the youth who may be challenged with affordability of the study to acquire a degree in another field. It is noted that some universities do, however, offer a degree in real estate, the universities of Cape Town, Pretoria, Witwatersrand are examples.
There are innumerable benefits in being an estate agent, to mention a few: being able to set your own schedule, working from home, determining your own income, developing your own unique skillsets, work diversity, and, most importantly, being able to facilitate the dreams and property ambitions of individuals and families who make life-changing decisions.
Property practitioners in South Africa are regulated by the Property Practitioners Regulatory Authority (PPRA), which falls under the mandate of the National Department of Human Settlements. One of the roles the PPRA undertakes is to: 'provide for the education, training and development of property practitioners and candidate property practitioners.'
There are five basic steps in the journey to becoming a professional property practitioner but upfront a matriculation certificate is required.
Step One:
Apply for a position as an 'intern' or candidate at a PPRA-registered agency or with an independent agent, both of which are required to have a valid (paid-for) fidelity fund certificate (FFC). You will find that many agencies and agents are very keen to embrace new talent in the industry.
Step Two:
Register as a Candidate Property Practitioner with the PPRA. This is not an option, and ensures you are willing to comply with industry regulations and adhere to professional standards. Interns are also required to hold an intern FFC, which is valid for one year.
Step Three:
The training course is largely practical. Six modules must be completed over a maximum of six months. This is followed by a further six months of supervision under a PPRA-registered property practitioner.
During this year, you are also required to document your practical workplace experiences in a logbook, which will demonstrate your acquired abilities across various aspects of the property market.
The intern must also pass the Further Education and Training Certificate (FETC) Real Estate NQF Level 4 exam, which requires a minimum pass rate of 65%.
Step Four
After successfully passing the NQF4 and completing the 12-month internship, the candidate is eligible to write the Professional Designation Examination (PDE), which results in the authorisation to use the designation of Professional Practitioner in Real Estate (PPRE).
Step Five
To sustain the PPRE designation, agents must ensure they renew their FFC annually AND earn enough Continuing Professional Development (CPD) points, which are mandatory for issuance of the FFC. CPD points are acquired by attending training, roadshows, talks and other industry-specific seminars, which are designed to keep agents up-to-date with trends, policy-changes and market shifts.
These five steps cannot be skipped, nor can they be fast-tracked. Costs are affordable when compared to other professional certifications, ranging from R6500 to R10 500. In total an intern can expect to spend some 1 500 hours studying, but with an earning potential of between 5-7 percent commission on the sale of a property, it can prove to be an exceptionally valuable wealth creation career.
For more information about careers at Natrent, contact us today.