What qualification do you need to be an estate agent?
Category General News
There are plenty of perks to being a property practitioner: flexible working hours, an unlimited earning potential, and the joy of guiding people through one of life's most significant decisions. If you've set your sights on this rewarding career, you'll need to have the right qualification behind you. Here's an inside look into the Further Education and Training Certificate (FETC): Real Estate (NQF Level 4).
What is the FETC: Real Estate (NQF Level 4)?
The Property Practitioners Regulatory Authority (PPRA), the industry regulator, has made this qualification a compulsory requirement for all property practitioners within the industry. To gain admission to the Professional Designation Examination (PDE) to be registered as a non-principal property practitioner, you will first need to complete this qualification.
- SAQA ID: 59097
- Credits: 150
- Accrediting body: Services SETA
Why is the qualification important?
South Africa's property market contributes R5.8 trillion to the GDP. In such a prominent sector, well-trained professionals are needed to help people with housing needs and businesses find office and business space. The qualification is equipped to help you get the knowledge, skills, and values to operate effectively within the real estate industry.
Who should complete this qualification?
If you want a position within the property industry, this certification is a must. It's ideal if you are a candidate property practitioner (intern) starting your career. It's required for property practitioners who have worked in real estate for years but have not acquired a formal qualification in real estate or property. The qualification is also a stepping stone to the FETC in Real Estate (NQF Level 5). This certificate is compulsory if you want to become a principal property practitioner to open and manage your own real estate agency or brokerage.
What are the qualification requirements?
Before you sign up, you'll need to have some prerequisites under your belt. These include a communication course at NQF Level 3, a mathematical literacy course at NQF Level 3, and a computer literacy course at NQF Level 3 (or equivalent courses). You will also need to be proficient in English. There's no need to stress if you don't meet these requirements as you can do a bridging course with an accredited institution.
Where can you complete this qualification?
The good news is that you can complete the course online from the comfort of your home. Many institutions provide a combination of e-learning, resources, and pre-recorded e-lectures to help you get to grips with the subject matter. Here are some options that offer the FETC: Real Estate (NQF Level 4):
- PropAcademy
- Chartall Business College
- Charter Academy
- iFundi
- CPMD
What does the qualification cover?
Depending on your course provider, your studies will vary. However, most courses will go through the following:
- Understanding real estate and compliance: Here you will learn about the Real Estate Code of Conduct and Ethics, The Financial Advisory and Intermediary Services Act (FAIS), the Financial Intelligence Centre Act (FICA), and South African money laundering legislation.
- Professional communication: This will enhance your written and verbal skills to help you better interact with clients and colleagues.
- A range of real estate practices: You will learn how to market, sell, and lease a property. This also goes through business principles, financial advising, administration, and self-development.
- Mathematics in the workplace: This covers numerical literacy such as statistics and probability.
What are the study costs involved?
Prices range from about R6,500 to about R10,500 depending on the education provider you choose. Some courses will also help you complete your logbook or provide an additional mentorship service. The latter involves guidance from a non-principal property practitioner or principal property practitioner.
How long does the course take to finish?
Because the qualification has 150 credits, this equates to 1,500 notional hours (study hours needed to complete the course). It's best to start this during your internship and logbook creation to meet the deadline as the assessment and moderation of your certificate can take a minimum of 3-6 months.
Step into the role of a property practitioner
The FETC: Real Estate (NQF Level 4) is an exciting milestone in your journey to becoming a full-status property practitioner. The real estate agency you choose for your internship can ensure your success. Century 21 South Africa provides additional support through Century 21 University and a host of tools and resources to give you an edge in the market. Reach out to your nearest branch to find out how you can start a career with a worldwide leader in real estate.
Author: Century 21 South Africa
