Differences In US & UK Real Estate Agents Education

 

Have you ever wondered how the other side of the pond lives, or who helps them find the homes they live in?

Generally, one major difference in US and UK real estate agents' education is that while the US requires at least a high school diploma, the UK doesn't. However, while becoming a real estate agent in the UK is far simpler, it is not as financially gratifying as one may think.

Keep reading to discover the differences in the US vs. UK real estate agent education and requirements.

 

Education Requirements

Unlike the United States, the United Kingdom does not require an official educational diploma or certificate. Furthermore, the UK does not even require a license to become a real estate agent.

However, this does not stand true for the US side. Realtors anywhere in the United States must be formally licensed to sell any type of property. Although a bachelor's degree is not needed, all agents must provide proof of high school graduation.

Here in the United States, while state to state differs in their laws or regulations for real estate agents, most have agreements between each state to make switching a license a much easier process. While in the United Kingdom, since no license or education is required, a person desiring a career within that country can just up and relocate with no issues.

sold sign, keys

 

Higher Education and Real Estate Careers

Although a college degree is not required to be a real estate agent, obtaining a higher education certificate can definitely give any agent an upper hand. There are several majors geared towards gaining expertise in the real estate field, such as;


  • Business Management
  • Accounting
  • Economics

An associate's degree is the quickest route for anyone wanting to obtain a degree, and most programs offer online classes. Any student can find websites that allow them to buy college term paper, making completing any program hassle-free.

 

Term Differences

Did you know the term real estate agent isn't even a real thing in the UK? In the United Kingdom, people who sell houses for a living are referred to as sale negotiators, and the estate is actually identified as property. The job title estate agent is not used because the UK does not have individual agents; instead, a company handles the entire process.

In the United States, anyone who sells or rents property is almost always referred to as a real estate agent. That individual is one hundred percent responsible from beginning to end for that property.

 

How Properties Are Sold

In the United Kingdom, the seller hires an agent from a company; that agent is basically just the in-between person for a buyer, the buyer's lawyer, and the company selling the property. The UK realty profession is all about the company and not at all an individualized career option. The brokerage firm they work for controls every aspect of a sale, as well as all communication between their customers and employees.

US agents work for the buyer and handle all the negotiations, paperwork, and closing costs for a commission given to them by the listing realty firm. Realtors working in the US are considered self-employed and utilize brokerage offices as a place to hang their licenses and complete paperwork.

 

Sales Commission

One notable difference between US and UK agents is the payout. For the United States, being a real estate agent is a very lucrative career that can make someone a millionaire overnight. All agents are paid via commission from all sales. A seller lists a property with an agent, and that agent makes sure it sells, and depending on location and listing specifics, the payout can range well within the five to six-digit paychecks.

The United Kingdom is a bit different, as being an agent is a salary-based job with a very small commission for rentals/sales of property. As they are referred to in the UK, a negotiator generally makes about 20,000 a year for salary with a ten percent bonus for all sales that are completed. Even a well-trained negotiator with years of experience typically only makes a yearly salary of about 30,000-40,000 plus a small bonus. Furthermore, bonuses are set at a cap amount which is reset every year.

 

Conclusion

While becoming a real estate agent in the UK appears to be a simple career choice as it has no educational requirements, the payout is something the US agents can boast about, even if a simple high school diploma is needed to be licensed.

 

Author Bio

Barbara Fielder is a long-time author and freelance writer. She is an expert in her industry and is always up-to-date on the most recent advances in her profession. Barbara loves to paint in her free time and can often be found sitting by the lake behind her home with a good book.