If you were to obtain your Full Real Estate Agent’s Licence you will have spent around $2100.00 to do the licencing course and paid a fee to The Office of Fair Trading of $1330.00 for 1yr or $2494.00 for 3 years. Costs more initially so why do it? Well… that can be best answered by looking at the potential extra income that can come from the Full Licence as opposed to the RLA Licence.
Most On-Site Managers are trying to find ways to increase fees or occupancy, when you really have no control over these things as they are market driven.
The smart Managers need to look no further than right under their noses. On average, between 10% and 15% of all units in a complex will sell in a 12 month period and the funny part is, that the likely Buyer has stayed with you before. Meaning, if you have a database of people who have stayed with you, the chances are you also have the Buyer’s details.
Most Managers feel vulnerable to outside Real Estate Agents selling units within then complex because more often than not, the selling Agent has also pitched to the new owner to manage the unit for them.
What most Managers fail to do is realize that they are in a very strong position when it comes to selling. You need to get on the front foot and place a little note or card in each room saying “For information on units for sale in this block contact the Manager”.
You will find that most Sellers will understand that you are best placed to find the likely Buyer and therefore, the listing will more than likely come to you.
Let’s do some maths on this…. let’s assume you own the Management Rights of a holiday complex near the ocean with an average unit sale price of $600,000.00.
Using the most common Real Estate Commission of 2.5% plus GST, that is $15,000.00 income from the sale of one unit!
Assume your block has 50 units and 10% of them sell each year….that’s $75,000.00 generated in commission. Even if you made half of those sales you would have to agree, you need to hire a lot of boogie boards to earn that sort of extra income.
Food for thought.
For upcoming course dates and locations visit on upgraing your RLA to a Full Agents Licence https://www.completepropertytraining.com.au/full-licence-upgrade-from-rla
For enquiries, more information or bookings, contact Complete Property Training on ph. 07 54 388 922 or email firstname.lastname@example.org