If you have set your sights on becoming a Property Practitioner, probably the first place to look is within, to determine if you have what it takes. If so, and if you have the unwavering dedication to provide an exceptional level of service and be a high-achiever, the rewards and job satisfaction can be meaningful.
There is without question, a level of competence, expertise, and professionalism that is obviously a given requirement, but there is then an additional so-called x-factor that makes an exceptional Property Practitioner, which is not necessarily that easily defined and is also not necessarily one single thing. In many instances, it will be their innate drive and competitiveness but in others, it can be specific aspects of their character – their human qualities that make them so exceptional. Fundamentally, though, the common qualities of successful Property Practitioners include a passion for the combination of property and people, and that they love what they do.
Surprisingly, top Property Practitioners are very seldom primarily driven by money. Generally speaking, important drivers and intrinsic motivators include being able to influence lives and participate in the positive, exciting, and significant moments in people’s lives. Fundamentally, and by virtue of the very nature of the successful conclusion of property transactions on an ongoing basis, Property Practitioners are in the business of nurturing and cementing relationships, and so effective communication is a key skill. Top Property Practitioners need to be empathetic but also with the skill to understand both the said and unsaid.”
To become a Property Practitioner, from that first decision to embark on the journey, to obtaining your real estate qualifications. From there, it’s up to you whether you become a successful Property Practitioner, which essentially means being part of the top 20% or remaining part of the average 80%, which are two very different jobs.
Debunking the most common myth
There’s a misconception that becoming a Property Practitioner is easy. Simply write an exam that’s not too difficult, head out there, sell lots of properties and make lots of money. This is not true and it is this thinking that historically gave the industry a poor image. Fortunately, some 15 years ago, the then Estate Property Practitioners Affairs Board (EAAB) which has now been renamed the ‘Property Practitioner Regulatory Authority’ (PPRA) identified the need to step in to implement a tighter qualification process to obtain a real estate licence.
These are the steps in becoming a Full Status Property Practitioner
First steps:
Your first task is to email your CV to our Human Resources Department, and go through the interview phase and the verification process, once you have been successful, the next stage would be to register with the PPRA for a Fidelity Fund Certificate (FFC).
These are renewable every three years. As an intern, which is a minimum of a 12-month program, you could potentially start earning quite soon, however, bear in mind that it takes an average of three months to transfer a property from the date of sale and to earn a commission, so the reality is that you may need up to nine months’ worth of funding to back you up.
Until you are a full-status Property Practitioner, you are not permitted to sign any documentation and will be assigned to a mentor who will accompany you when you list a mandate or complete an offer to purchase document
The three hurdles toward Property Practitioner qualification
In a nutshell, there are two ‘Stages’ which are completed simultaneously, followed by an exam.
Stage A is an academic one, resulting in an NQF4 qualification required by the Services SETA (Sector Education and Training Authority), which requires the intern to enroll with a service provider, for
example Brain Trust.
You are then taken through four modules that require research, answers to questions, and the submission of practical examples.
Successful candidates are then issued certificates of compliance after an assessment by the learning institution. This process is estimated to cost around R9500.
The service provider will then have to find you compliant in each of the five modules. After this, your file goes to PPRA for moderation, and they will issue a certificate of compliance (NQF4), a copy
of which should be sent by you to the PPRA.
NB: The NQF4 qualification that you obtain is the Portfolio of Evidence which you still need to write an exam hence the Stage B that follows below
Stage B is one that satisfies an exam requirement for the PPRA in the form of an exam. Essentially, once you have been found to be competent for NQF4, then you would need to register for a PDE 4 exam which puts the NQF4 knowledge into an examination. The estimated cost of PDE is R2500.
Then once you have fulfilled the PPRA requirements and passed the PDE you are a Full Status Property Practitioner..
Are you exempt from parts of the process?
Depending on the subjects taken for your tertiary education, you may be exempt or partially exempt from the NQF4.
If you have a degree or other tertiary education, the subjects that you have completed may entitle you to exemptions. In recent years, property degrees through universities have also become an option, but bear in mind that regardless of exemptions or even a property degree, the PDE exam needs to be completed.
To apply for exemptions through the PPRA, there is a non-refundable cost which is determined by the PPRA.
What is it really like to be a Property Practitioner?
It’s important to know that the industry norm is that 20% earn 80% and that 80% only earn 20% of the pie. Unlike many other jobs, if you give 40% you’ll not get a 40% return but a very low return.
Because of the perception that it’s an easy way to earn an income, many people think they can do it as a job that fits in between the rest of their life, whereas in reality, the life of a Property Practitioner
fits into the job.
There is also a public perception that Property Practitioners earn too much commission. In reality, the average income of an agent is quite low, and remember that a large portion of that income goes to their costs, such as petrol, maintaining a car, a smartphone, various marketing tools and often paying assistants to grow their business.
The top 20%
These Property Practitioners fully understand that real estate is more than just a full-time job, it’s a lifestyle. A Property Practitioner who is hard-working, dedicated, and exercises good time- management can still enjoy family life and actually benefit from the flexibility of the job while being really successful.
The other 80%
These Property Practitioners work a two-to-four-hour day and because real estate is not really a half-day job, will earn the average income for most Property Practitioners in South Africa, which is around R16,000 to R20,000 per month before tax and running costs.
Entrepreneurs in partnership with a brand
In essence, a Property Practitioner is an entrepreneur who is running his or her own business and is in partnership with the company they work for and who is, in effect, capitalising on their business.
Don’t be surprised if Snooks Estates, as a brand that you work for, demands a solid performance from you. Remember that Property Practitioners cost the company an average of R15,000 to R20,000 every month for their office set up, admin support, training, advertising, and marketing.
Top Property Practitioners know that they never stop learning, so if you are serious about a career in property, choose ‘Us’ Snooks Estates where training is a key business strategy.
Apart from the learnt skills, like how to negotiate or understand the many legislative processes, there are definitely inherent characteristics shared by top Property Practitioners. These include drive and passion, but almost always love for people that is expressed in sincere empathy and compassion.