Written by David Dingli, Head of Human Resources at Dhalia with 25 years of experience in training.
The real estate market in Malta continues to grow and flourish. Industry leaders are challenged with the task of identifying and capitalising on new opportunities, while also protecting what has already been created.
More players are entering the market and competition has become fierce. Gone are the days when anyone could decide to act as a real estate agent, the laws have become complex and procedures will soon be regulated. The real estate market is a living thing exhibiting a trend of growth - this is what necessitates so strongly an industry-wide basis of professional education.
Certain skills and knowledge are fundamental to the role of a property consultant. In the past these have been learned on the job, over time, and through shadowing experienced consultants. Many real estate companies have already come to the realisation that education is necessary, with market leaders providing in-house training to their consultants in a structured way with learning outcomes.
The average property buyer may not be well informed about many of the details that are a part of buying, selling, or renting property. Especially in the case of the first time buyer, the client relies on the property consultant to explain the details and requirements - rightly so, as this is the consultant’s area of expertise. Consultants should not only understand the fine details of the process and laws, they should also be able to answer questions and guide clients. This requires thorough knowledge gained through experience together with a comprehensive training programme.
An accredited course provides legitimacy as a foundation for a career in real estate. This legitimacy guarantees trust and professionalism in the role of the property consultant. Companies like Dhalia invest in their consultants by providing top quality training and instilling in them the nature of true professionals with the client’s interests at the forefront. Only in this way will the estate agent be recognised as a professional role and known for excellent customer service and respect for the client. The professional estate agent adds value to the market through expert knowledge, contributing to a robust property market for a healthy future.
The White Paper, proposed earlier this year, entitled ‘Malta’s Property Code and Regulations’ sets down a mandatory education requirement as a point of entry into the real estate profession. The topics proposed include law, economics, technical and practical knowledge, valuations and business management. This formal training plan is a post-secondary level course resulting in a nationally recognised formal qualification.
In addition to what is already set out in the white paper, we suggest an exploration of best practices. Real estate practitioners must examine real-case scenarios so that their training is grounded in reality. Forward thinking should be encouraged through the study of innovation in resource and design. Leadership techniques should be taught in order to compete successfully in an increasingly complex market. These core concepts form the basis of a comprehensive education in real estate, resulting in a better service to clients and a healthy future for the property market as a whole.
A real estate career is never routine. Each transaction is different, each client comes with different needs. Every day offers personal freedom, professional fulfilment and great satisfaction. The world of real estate is rewarding, dynamic and complex. Becoming part of it requires knowledge of the industry, exceptional people skills, and a quality education.
Dhalia Real Estate Services provides a comprehensive training programme to all consultants free of charge. This training prepares you for the complex business of trading in real estate and will lead an individual to obtain a formal qualification recognised by the authorities, to become a licensed real estate agent.