Chapter 1: What is the main topic discussed in this episode?
It's the Real Estate Podcast across every state, city and town of Australia. And welcome to another episode of the Real Estate Podcast available on iHeartRadio every morning and also on Spotify and Apple and wherever you get your podcast from. Well, it's another weekend around Australia. the 13th day of August for 2022. And is today the day that you secure your new home, your new house?
It might be an apartment, a unit, a tiny home, whatever the case might be. If you are having a look at property around the country today, good luck. Wish you all the best.
Coming up this morning, we're going to be talking with a real estate agent who is relatively new to the game under two years and discussing the pressure that is starting to come on to parts of the real estate sector with people that are working in it and starting to leave to find other jobs as the market, the real estate market starts to change. Now, how scary is that proposition right now
for a lot of people working in the real estate industry. Well, we're going to speak with Ben very shortly. If you're celebrating your birthday on the 13th of August today, have a great Saturday. In fact, have a great weekend. And two things that happened on this day that are polar opposites The first was a construction of the Berlin Wall.
Now, the wall divided West Berlin from East Berlin, and it started on this day back in 1961. And the other polar opposite was, on this day, a popular American animated series is created by Trey Parker and Matt Stone, and it follows the lives of four adventures of four boys together. in a fictional town called South Park, Colorado. That happened on this day in 1997.
It's your weekend real estate breakfast, a serial-sized podcast about what's happening in your local backyard every Saturday morning on The Real Estate Podcast. It's the main centre forecast with propertybuyer.com.au. All right, let's have a look at your weather around Australia. And good morning to you in Sydney. Expecting one or two showers on your Saturday morning, a high of 20 degrees.
Melbourne, a few showers, a possible thunderstorm today. 15 is your forecast high. Brisbane expecting some rain on your Saturday morning, 19 degrees. And Perth expecting some showers and also 19 degrees. We are just as addicted to property as you are. Every weekday morning from 6.30.
So recently there's been a bit of talk going around about real estate agents working in the industry and some commentators are suggesting a lot of these agents will need to go and find another career as the market bites and turns and it is true to say that the real estate industry has had an explosion of new real estate people being drawn to the industry. And why not?
I mean, you look at the gold rush era and the same thing happened. And let's face it, when it comes to your job, one of the most important factors is how much are you going to pay me?
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Chapter 2: What pressures are causing agents to leave the real estate industry?
G'day, Craig. Thanks very much for having me, mate. My pleasure. So let's start right at the beginning. What made you want to become a real estate agent? Well, yeah, thanks for asking, mate. Look, basically, I had an older brother who was in the real estate industry and did really well. And as he rightly said there, pretty low barrier to entry. He got into it when he was 18, did really well.
And I subsequently got into a different business and I was in the construction business for about eight years. I was the general manager of a of a renovations company that was a wonderful business in Perth and it was just time to move on and I naturally gravitated towards real estate and certainly the market was was awesome about you know 22 months ago when I got into it.
Okay so tell us your age and then tell us a little bit about the process of getting your license and what you went through to get the license. So 28. Look, getting the license is, as you said, a very, very low barrier to entry, which is a good and a bad thing, I suppose. There is a lot of tick boxes to check through and some dialogue to learn and writing contracts and that sort of stuff.
Mine was involved through an online portal. There's a training facility in WA, a couple of different places. trainers that are registered to provide licenses. And I basically just worked 12 or 16 hours a day for four days straight and basically did a three-week course in four days.
And just because I was that keen to get things moving and get it going and I probably annoyed the hell out of the trainers, kept following them up saying, hey, have you got my exam? It's all done. Can we tick it off? Can we go to the next one? And Yeah, basically just grinded through it. Not fun, but got it done. And then you really learn on the job, Craig.
And I was fortunate to have some good people around me where I learn on the job quite quickly as well. That is so important, having the old hands there to help guide, sort of take you under their wings, because it is the unknown factor. Once you get that piece of paper saying that Ben is a licensed real estate agent, because let's face it, we are talking commission-based only.
There are two types of people in this world. There are the ones that can sort of look at the commission with enthusiasm, and then there are people that get totally scared and phased by it. So how much of an obstacle knowing that you're only going to get paid per house that you sell only on results, how much of a mindset was that for you? Yeah, absolutely.
And it can be a very scary kind of situation.
I think a lot of people come from, you know, if they haven't got straight out of school into real estate where maybe they're living with mum and dad and they don't have as many overheads, they can bear it and, you know, do those years and take it a bit slower where, you know, myself, I came from a pretty well-paid job and I had, you know, family commitments and housing commitments and very daunting.
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