A downturn in the property market is forcing a realignment of the traditional skills required to become a real estate agent, says Beller Property Group director Heath Thompson.

Having come from a family of real estate developers, Mr Thompson has experienced the cyclical nature of property market first-hand.

Speaking to WILLIAMS Media, he said a common theme from discussions with his peers was concern that many agents lack the experience to be successful in a challenging market.

"We're seeing a lot of the younger agents who came in midway through a very strong market and made lots of money having to find new ways to succeed," he said.

"All the practices they had learnt don't work as well anymore, so not only do they have to find the time to learn new skills, but they also need a developer or client that is patient to wait."

Mr Thompson said he had also noticed the change in his discussions with developers.

“We find the developers are getting nervous about who will actually sell the property,” he said. 

“They say they want someone like me in the display suite, and seeing I can’t be everywhere at once, we are forced to be more selective about the projects we take on.

“We do a lot more due diligence with developers as well to make sure they are a good fit for us.”

November 2018 housing finance figures released by the Australian Bureau of Statistics indicated the value of total housing finance was down 2.5 per cent at $29.13 billion, with the value of new home loan for owner-occupiers down 1.4 per cent, and down 4.5 per cent for investor loans.

Mr Thompson said dwindling numbers had resulted in an expansion of the developer/agency relationship.

“It used to be that a developer would create a project and then hand it over to the sales person to sell, but now they are asking what project they need to create,” he said.

“We’re helping as part of the process by providing information about what the market needs, what a buyer will pay, and what will actually maximise the return.

“It’s part of the reason why more and more developers are turning to agents as consultants rather than just sales people, and why understanding the needs of the public is more important than ever.”

Unlike other industries where qualifications can take up to five years to achieve, the process to become a real estate agent can be completed in less than 12 months, depending on which state you are in.

Mr Thompson said the current climate meant background knowledge of the industry prior to starting a course had become essential.

"Some of the courses available just aren't enough to learn what the clients need these days," he said.

"You've got to have a strong understanding of property behind you, including the processes involved with each project.

"However, if you can build a career and survive in this market, you will be very well equipped for when it turns.

"This market can potentially build very strong careers."

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