A real estate agent, also known in Spain as an API, is a qualified and trained professional who acts as an intermediary, provides advice and manages all types of transactions in the real estate market, whether lettings, property swaps or the management of property sale and purchase agreements.
Until the year 2000, it was necessary to hold an Official Qualification issued by the Ministry of Public Works, or alternatively to have a university degree. However, the profession of real estate agent is now deregulated in Spain, and a formal qualification is no longer required to work as a real estate agent anywhere in Spain, with the exception of Catalonia, where an official qualification is still compulsory.
Nevertheless, in order to practise the profession, it is necessary to join an Official Association of Real Estate Agents. The Association is chiefly responsible for safeguarding transparency and professional good practice, and it provides technical and legal support to all registered members in order to ensure that property transactions are carried out properly.
Requirements to become a real estate agent
Some of the requirements and training considered necessary to work as a real estate agent are as follows:
- Psychology. It is essential to understand how people’s minds work if you want to succeed in this profession. Having first-hand knowledge of the mechanisms that govern human behaviour will be of great help when it comes to identifying, understanding and influencing the reaction of the person you are dealing with.
- Marketing. Training or knowledge in this field will be very useful when promoting a product, highlighting your company’s strengths over those of competitors, or developing a marketing plan in line with the sales strategy.
- Law. Like many other markets, the property sector is governed by legislation. It is therefore necessary to have a thorough understanding of the laws that apply to the sector and the obligations arising from each of them. Only by knowing and understanding the law directly will you be able to apply it correctly and carry out the profession in line with good practice.
- Finance. It is necessary to be familiar with spreadsheets, financial statements, costs, margins and business profitability. Having specific knowledge in the financial field will make your work as a real estate agent much easier.