The real estate market is never static, which means that there are always career opportunities for those willing to acquire the necessary skills and qualifications, says Shaun Rademeyer, CEO of BetterLife Home Loans, SA’s biggest bond originator.
“At the moment, for example, home sales may be somewhat slow, but the rental market is growing exponentially and there is an increasing demand among both corporate and private landlords and well as buy-to-let investors for experienced and really competent managing agents.”
Consequently, he says, now might be a good time for agents to “re-invent” themselves or at least invest in their future job prospects and acquire the training to become a qualified and registered managing agent. This is also an excellent avenue for young people to pursue if they are looking for a career with good prospects and a wide variety of aspects in which to specialise, depending on their own aptitudes and preferences.
“Besides sound judgment and flexibility, managing agents need skills in accounting, administration, conflict resolution, leadership and technology, and a clear grasp of ethical business practices, all the relevant legislation and how what they do affects the value of investment real estate.
“In the residential context, they are also responsible to a large extent for the quality of life of the tenants in the properties they manage and of other residents and owners if the property is in a complex or estate. And the demand for their services will continue to rise, for several reasons.”
The first of these, Rademeyer says, is that an increasing percentage of young adults in SA’s growing population the net worth or the credit scores needed to become homeowners, and so must rent instead.
“The second is that a growing percentage of over-55s are now also choosing to rent rather than own property any more. Some are selling to unlock the equity in their homes and either pay off debt or add to their retirement funding. Some want to be free of home maintenance chores and some just don’t want to be tied down while they pursue a new career or long-delayed travel ambitions.
“And the third is that both these trends are set to boost the percentage of properties that will be owned by either commercial or private investors who will need expert help to manage them well and maximise their returns.”
Meanwhile, he says, recent changes to the legislation governing sectional title complexes and estates is already boosting the demand among bodies corporate and home owners’ associations for experienced managing agents who can ensure that they comply with all the provisions of the new laws.
For more information about the qualifications necessary to become a registered managing agent and boost their career prospects, agents can contact the National Association of Managing Agents (NAMA) on 012-543-0693 or visit https://www.nama.org.za/