Earn­ing while you’re learn­ing is a big in­cen­tive to join the prop­erty in­dus­try

Weekend Argus (Saturday Edition) - - PROPERTY -

THE prop­erty in­dus­try rep­re­sents about 8 per­cent of South Africa’s GDP, so it cre­ates a huge em­ploy­ment op­por­tu­nity for school or col­lege leavers, which is not be­ing taken ad­van­tage of in the way it should be, says Lan­ice Stew­ard, man­ag­ing di­rec­tor of Knight Frank Anne Porter.

“Younger peo­ple are pre­pared to study for long pe­ri­ods and un­der­stand that they are re­quired to pay for any post­ma­tric qual­i­fi­ca­tion. But many don’t re­alise that the real es­tate model en­ables in­terns to earn while learn­ing, which is not the case with many other ca­reers.

“Ad­mit­tedly, un­less agen­cies can pro­cure SSETA schol­ar­ships that en­able them to pay in­terns a small ba­sic salary, in­terns will have to fund them­selves for about six months.

“This is usu­ally when the first com­mis­sions will come through if they have sold properties af­ter three months in the in­dus­try. If they haven’t sold any in the first six months there might be a prob­lem.”

She says the de­vel­op­ment and sec­ond-hand mar­kets are in­creas­ingly grow­ing at the lower end of the hous­ing mar­ket. This will be es­ca­lated once the ti­tle deeds in th­ese ar­eas have been for­malised and given to the right­ful own­ers of prop- er­ties by the provin­cial gov­ern­ments (along with ed­u­ca­tion on how to look af­ter their in­vest­ments) and the banks re­alise what the po­ten­tial of this mar­ket could be.

“The prop­erty in­dus­try has been pre­dom­i­nantly white un­til now, and the trans­for­ma­tion that should fol­low will cre­ate jobs and wealth for the own­ers of all the town­ship properties that have, un­til now, had no for­mal own­er­ship sys­tem.

“The qual­i­fi­ca­tions be­ing in­tro­duced to be­come an es­tate agent pro­tects con­sumers as they en­sure agents will be prop­erly trained.”

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