Monthly Archives: September 2015
How to Become a Real Estate Professional
If you’re looking to enter the real estate industry for the first time, in most countries you will need to undergo training before going through a series of assessments and finally receiving your certification.
The amount of training you must do depends largely on where you are based. In Australia, it’s possible to undergo most of your training online, however there’s a lot of merit in taking a blended approach to learning when it comes to gaining your real estate certification.
What is blended learning?
Essentially, blended learning is the combination of classroom time, online learning and in-the-field or hands-on experience. This combination of learning offers you the chance to build a solid foundation of understanding the skills required to build a dynamic real estate career.
Where can I study?
There are lots of options on where to study to receive your real estate certification, and this varies from country to country and even state to state. At Harcourts, we make it simple for all of our new team members by offering comprehensive in-house training, including online study options.
In Australia, we are also a Registered Training Organisation, meaning studying with Harcourts will give you the training necessary to gain professional certification.
You never stop learning
We strongly believe that to enhance both the reputation and the skills of real estate professionals, it’s important to recognise that you never stop learning.
The Harcourts Academy offers comprehensive sales programmes for both new and experienced sales consultants, no matter where you are in your career.
Skills for the real world
It’s not just about equipping students with the knowledge they need, but also giving them the confidence and the ability to perform out in the real world.
One way to ensure you are equipped to hit the ground running is to ensure your agency offers training for sales agents and property managers in practical skills such as business planning, time management, personal leadership skills and wealth creation. This way, you have a much more holistic foundation of skills.
Where to next?
If you’re interested in taking the next step in your real estate journey, have a look at some of the training programmes offered through The Harcourts Academy. No matter where you are in your career, there’s a course designed to help you build on your success.
• The Harcourts Way sales programmes
The Harcourts Academy offers comprehensive sales programmes for both new and experienced sales consultants.
‘Getting Started The Harcourts Way’ provides the required qualifications for industry certification.
Attached to this programme is iStart24 – a six month programme which provides clear instructions and learning activities each day of each week, for 24 weeks. A perfect step by step process on how to become a real estate professional. ‘Succeeding The Harcourts Way’ will help even seasoned professionals take their businesses to the next level.
• Future Leaders programme
This programme provides a quality career path and the opportunity to strengthen both the personal and professional skills required for business management and ownership.
Membership to this elite group provides access to an exclusive network of like-minded and successful individuals, plus exposure to advanced training by Harcourts’ international management team members.
• Management programmes
Empowering our offices and team leaders to take their operations to new levels, the management programme includes applied topics such as leadership, coaching and training, marketing, systems, financial planning, technology and business strategies.
• Specialist training
We offer a number of specialist training programmes and workshops in key areas such as commercial and rural real estate, urban developments, residential property management and auctioneering.
These programmes refine expert skills for those operating within the industry’s specialist fields.
• Technology training
Our team of experts offer comprehensive training which enables you to master all of the technology tools and systems on offer at Harcourts. The programme is comprised of several workshops exploring property and client management, in-the-field e-business tools, and advanced online presence and marketing.
• Business planning
We believe in setting goals and developing a comprehensive plan in order to achieve them.
Across all levels of the Harcourts business, we set annual business plans which are reviewed quarterly. This allows our people to really stretch themselves and help to achieve their dreams of becoming a superstar real estate professional.
Interested in exploring a career or franchise opportunities with Harcourts?
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Bridging Finance – What You Need To Know
What is a bridging loan?
If you’re in the market to buy a new home but you haven’t yet sold your existing home, you may need a bridging loan. Bridging finance funds the purchase of a new home until the old home has been sold. It’s a convenient way of moving quickly on a new property, without having to wait until your current home is sold.
A short term loan, typically six to 12 months, bridging finance covers both your existing and your new debt. During the bridging period, the time taken between buying a new home and selling your old home, repayments are usually calculated on an interest only basis.
By continuing to make your repayments you’ll help reduce the total amount on your loan so that if your existing home takes a little longer to sell you won’t be left with a hefty debt to repay.
Be sure to do your homework and check out all of the loan features. Because this can be a tricky form of finance, it’s best to have a mortgage adviser or a mortgage broker go over the details with you.
How does it work?
A bridging loan is calculated by adding together the value of your new home with the outstanding debt owing on your existing home, then subtracting the potential sales price of your existing home.
The leftover amount is called the ‘ongoing balance’ or principal in your bridging loan. During the bridging period, you are generally only required to pay back the interest calculated on the principal. Interest will be compounded monthly at the standard variable rate and added to your ongoing balance, which becomes your mortgage on your new property when your old one has sold.
In order to avoid paying a considerable amount of interest, it’s best to have at least 50% of your existing home’s value in equity before you consider a bridging loan.
Keep in mind that during the bridging period you are essentially paying off the interest on two mortgages. So be realistic about your expectations in the sale of your existing home; you may need to sell sooner in order to meet the terms of your agreement.
What are the risks?
Possibly the biggest risk is overestimating the sales price of your current home. If your home sells for considerably less than you estimated, your bridging loan may not cover the cost of your new home and you end up with a far bigger debt to repay.
Some lenders may also increase the interest rate if your existing home does not sell within the bridging period, adding the pressure of trying to service both loans.
If structured correctly, bridging finance can be helpful. It takes away the pressure of matching up settlement dates and gives you time to sell your current home without worrying about potentially losing out on your new home.
What to consider?
The right bridging loan will depend on a number of factors:
- How long do you need the funds for?
- Do you have an unconditional contract on the property you are selling or do you still have to sell?
- Are you building your new home or buying an established property?
- Are the buying a residential or an investment property?
- Are you able to service or meet the repayments on your current loan and the bridging loan?
Benefits and Risks
Benefits
- Allows you to move quickly on a new property purchase, without worrying about selling your existing home first.
- Provides an option when high loan to value financing is not available.
- Provides finance to build a new home while you live in your current home.
Risks
- The sale of your existing home takes longer than anticipated or falls through, leaving you with a sizeable debt.
- During the bridging period you are essentially covering two mortgages.
- Interest only repayments can leave you with a much larger debt at the end of the bridging period.
- There are a number of fees included in arranging bridging finance; an expensive form of finance especially for longer terms.
To find out more about your options when it comes to Bridging Finance, get in touch with a Mortgage Express adviser. If you’re in New Zealand, click here or Australia click here to find out more.
5 Ways To Save (Dad’s Garden) On Father’s Day 2015
When it comes to appreciating Dad, it’s the thought that counts. That’s why we’ve compiled five things to help Dad out with around the garden this Father’s Day which not only save you money, but even add value to Dad’s home!
Nice Tie = $100 vs. Help Dad lay new turf to a small lawn area = $1000 in value!
A shopping voucher = $200 vs. Lay recycled pavers to create an outdoor seating area = $4000 in value!
Socks and Undies = $40 vs. Plant hardy ornamental garden plants e.g. star jasmine (approx. $40 each) = $3000 in value!
Book = $30 vs. Plant a variety of fruit and vegetable seeds or seedlings – not only are they the gift that keeps giving, an established veg patch = almost $100 per month in grocery bill savings!
Bottle of Wine = $20-$50 vs. Add pine bark, or other inexpensive (or even free) types of mulch and natural fertilizers to garden beds = $1000 in value!
So get out there and get creative with Dad in the garden for Father’s day 2015. Come summer and he’ll thank you for it, again!