Differences in USA & Europe Real Estate Agents’ Education

Whether you’re looking into becoming a real estate agent yourself or want to help a friend or a family member do so, there are some very important things to consider. For one, being a real estate agent in the US and Europe, or anywhere else in the world for that matter, differs greatly.

Real estate agents operate based on local laws and regulations and applying one country’s education to another one’s real estate market is asking for trouble. According to recent data, 52% of home buyers said that the role of a real estate agent is to help them find a suitable property. Real estate agents need to possess several crucial skills to be successful at what they do, including:

• Professional conduct
• Sales skills
• People skills
• Problem-solving skills
• Patience and understanding

In many ways, real estate agents need to treat the properties they sell as if they were their own. But with the education systems differing greatly between the US and Europe, being an international real estate agent is anything but simple. Let’s tackle some of the most prominent differences and how you can make them work in your favor.

MLS is Exclusive to the US

The education of real estate agents in the US reflects the state of the real estate market at large, and the same goes for European universities. The major difference between the two systems lies in MLS, or the Multiple Listing Service as it is used in the US. This is a central database of all real estate brokers and properties currently on the market.

It is a system built to make networking and collaboration between real estate agents easier so that no one steps on each other’s toes. Compared to that, European real estate agents operate in small agencies which are fully registered as companies. Every agency has its database and sharing real estate information with others is considered a breach of NDA. This requires real estate students to approach education with a different mindset compared to their US counterparts who are independently licensed.

The Difference in Verbiage

One of the key differences which you’ll need to wrap your head around in terms of the European real estate market is that it’s not called “real estate” whatsoever. Many of the terms we’ve come to accept for granted are exclusive to the US and given the size of the US, they’ve become second nature to us. Real estate is referred to as “properties” or “property sales/rental”.

Likewise, there are no “real estate” agents outside the US – they’re called “estate agents” or sales/rental agents for short. This comes down to the difference between the US and UK English, as well as the fact that Europe is a continent with dozens of unique languages. As a real estate student, you can get in touch with essay writers whenever you need some assistance in editing and formatting your college assignments. This is a good idea if you’re having trouble with terminology or proofreading so that you don’t mix up certain terms.

Salary-Based Incentives in Europe

Outside the US, you don’t need any formal real estate license to work as a real estate agent. Likewise, European real estate agents are paid a steady monthly salary just as if they were working in any other industry. RESPA, or the Real Estate Settlement Procedures Act, doesn’t exist outside the US.

This is in stark contrast to the US market where real estate agents are often paid commission on closed deals. While this might be a good motivator, it can also mean that you risk not making any income for certain weeks/months. In many ways, the European system is friendlier to individual agents who are freer to shift careers or carve their professional paths without having to worry about licensing commissions or MLS.

On Being a Real Estate Agent

If you’re passionate about real estate and know that you’d be great at it, nothing will stop you from rethinking how you approach managing property sales. While it’s true that the real estate market is different in Europe compared to what you may be used to in the US, the gist of the matter remains the same.

It’s up to you to handle property presentation, convincing marketing, and the sales pitch of your properties regardless of which country you’re in. The secret lies in being able to put yourself in the home buyers’ shoes so that you can recognize their needs and meet them head-on. This only comes from practical experience, so all that’s left for you is to go for it.

Bio: Barbara Fielder is a content writing specialist, an editor, and an expert on social media management. Barbara has built a professional writer’s portfolio by developing her unique writing style in creating essays, articles, papers, and studies. Barbara spends her free time further expanding on her knowledge of content creation and writing.