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It’s a standard dream among real estate agents – how can I help my staff move from property rentals into property sales? Given the two roles have very different skills sets, it’s a hard ask, but it’s not impossible.

Paul Syme, general manager of recruitment firm Talent2’s Perth office, says the issue with switching from rentals to sales is that the roles are very different, making it difficult to transfer between the two.

“Property rentals are about sound administration and an ability to resolve disputes, while property sales are about an ability to sell and close a deal, which is very different to the admin skills needed for a rental role. You can change careers, but you need drive and ambition to make the switch,” he says.

If you do have employees who want to switch between an admin and a sales role in the real estate sector, it’s an idea for you to help them to do a thorough gap analysis, which means auditing their current skills and working out what skills are needed to perform a sales role, and thinking about ways to address this gap.

“Ask the employee to have a really good look at the area they want to move into and work out what they need to do to move into that field. It’s really important for them to talk to people in the area they want to move into to find out the skills and attributes needed in that type of role. Then ask them to take a good look at themselves and see whether they have those attributes or the ability to develop those attributes,” says Syme.

“They then need to work out how they can develop a track record or some skills in that area, either through training or doing work experience or through some other means. The real key is to talk to people; that’s the best way to do the research,” he says.

What they’re looking for

Syme says when an employee switches careers, three things need to be considered: track record, technical skills and cultural fit.

“Past experience is a big indicator of future performance, so if someone has shown themselves to be a gun property manager, they might be able to transfer this skill to a sales role,” he says.

When it comes to technical skills, it’s important to work out whether the employee’s existing skills will translate to a different role within real estate. If someone has been a good performer in residential real estate sales, this skill may well transfer to other areas within the real estate sector, for example sales of new residential developments.

“In this situation it’s an idea to look at sales track record, the average value of the properties sold, the highest and lowest values of the properties the candidate has sold and the quality of the properties that have been sold, as well as the employee’s general understanding of the property sector,” Syme says.

As part of well developed technical skills, it’s a good idea to look for superior leadership skills, especially if the role for which they are being considered means they will be managing a team of people.

Aside from technical skills and experience, an employee must also have a good cultural fit with the business to be considered for a promotion into a new role. So entrepreneurial companies need to make sure employees moving through the ranks are go-getters and more conservative companies need to make sure staff members moving to a new area of the business also have the right cultural fit.

Heads up

Anyone considering making a move into a different role in real estate should be aware that remuneration structures vary enormously across the industry. If an employee wants to switch roles and it’s likely their pay structure, as well as how much money they earn, will change, it’s important to communicate this.

For example, people working in residential real estate might, over the past few years, have earned a huge salary thanks to the commissions from properties sold in a booming property market. In some cases, says Syme, estate agents have been earning up to $400,000 a year, taking into consideration commissions on properties sold.

Salaries in the commercial property space, on the other hand, are generally built on a higher base rate and a smaller commission, which is something people thinking about switching careers need to take into consideration.

The nature of the labour market will also determine how easy it is to switch between careers in property. A tight labour market will mean employers are more willing to look outside their specific niche for talented staff. But when unemployment rises in the real estate sector during an economic downturn, employers are less inclined to look at candidates without specific experience in their field because they can generally find the exact skills they are looking for in the open market.

Although it is a tricky thing to change careers in the real estate sector, it’s not impossible. All it takes is a willingness to re-skill, an ability to learn fast and great contacts. So don’t ignore staff that have ambitions to move through the business. Instead, help them find ways to facilitate the change. That way, you’ll have a happy employee and you’ll also be developing the skills in the business.