9 Steps How To Become A Leasing Consultant (Complete With Pictures)

doylc.com - How To Become A Leasing Consultant - A leasing consultant, also known as a leasing agent, works on behalf of landlords and property management companies to collect rent and provide customer service for renters and tenants. They also market rental properties to prospective tenants by giving tours, answering questions and processing applications and lease agreements. Most leasing consultants are expected to have excellent customer service and communication skills. Become a leasing consultant by learning what you can about real estate and marketing, and developing a relationship with companies that own the properties you might like to work for.

Gaining Experience and Knowledge

1. Study business and real estate. While a bachelor's degree is not necessarily required to become a leasing consultant, many employers prefer to hire those with a degree or some college background. The completion of an educational program with some exposure to the areas of business and real estate, or even taking a few courses in these areas on the side, will serve you well. Some educational institutions even offer certificate programs or degrees in areas relevant to leasing and property management. Good subjects to study include:

Sales

Real estate market analysis

Residential report writing

Fair housing regulations

Contracts

Principles of real estate management

2. Gain some work experience. In many cases, there are no absolute prerequisite work experiences for gaining a position as a leasing consultant. However, having some background in sales or hospitality can prepare you well to work in leasing services and property management. Fields where you can gain relevant work experience include:

Sales positions, such as at a car dealership or retail store

Hospitality services, such as hotel management

Customer service, including positions within a corporate office, legal firm, etc.

3. Find out if you need to obtain a leasing license. Some states or regions require you to obtain a license in order to practice as a leasing consultant. Contact your state or regional real estate association to determine if you need a license to practice as a leasing agent. Typical requirements may include:

You must be at least 18 years old

You must be a high school graduate, or equivalent

You must complete an approved leasing agent course and/or examination.

Payment of a license fee

4. Complete a leasing license course and examination, if required. You can prepare for a leasing license examination by completing a short course; some may be completed in just a few days. You may also be able to use self-study materials to prepare for the examination. Typically, there will be fees for the course or study materials and for the examination itself. Exact requirements vary widely from state to state, but you can generally prepare for a leasing license examination by studying topics such as:

The real estate laws of your area

Real estate appraisal

Real estate finance

Human resources

Business law

Business economics

Financial management

5. Study the real estate market in your area. Even before you begin working as a leasing consultant, it is a good idea to have a sense of the property market in your area. You will want to know what kind of properties are leased in your area, and what kind of tenants occupy them. You can find the relevant information by researching the websites of property companies in your area, as well as calling or visiting them.

Some leasing consultants work solely with residential properties, some solely with commercial properties, and other with a combination of the two.

Some leasing agents work strictly with a particular site, such as an apartment complex, to lease units at that site. Others work for a property management company that may lease units at many locations.

It is a good idea to have a sense of the tenants in your area by knowing the answers to questions like: What kind of businesses are common in your area? What is the median age and family size in a residential unit in your area? Are short-term or long-term leases the standard?

Finding a Job and Succeeding

6. Conduct informational interviews. You can learn more about working for a particular property management company, apartment complex, or other real estate company by asking to meet with one of its representatives for an informational interview. Let the representative (a leasing agent, property manager, etc.) know that you are interested in working as a leasing consultant, and want to know more about the field.

The informational interview is an occasion to ask questions about the tasks and responsibilities of a leasing consultant, and also an opportunity to network with others in the field of real estate. This may help you to find a job as a leasing consultant.

You might also ask about average salaries for leasing consultants in your area. Keep in mind that many consultants work on commission. This means that a consultant’s base salary may seem relatively low, but commissions based on the properties he or she successfully leases to tenants would supplement it. Commission rates may also be negotiable.

Some information on real estate jobs is also available online from the Bureau of Labor Statistics (BLS) and other sources.

7. Apply for leasing consultant jobs. Using jobs boards, placement services, social media, word-of-mouth, or any other means, look for advertisements seeking leasing consultants. Make sure that your application materials, such as a resume and cover letter, emphasize that you have the skills and information necessary to succeed as a leasing agent, including:

Responsibility

A willingness to lease fairly and ethically

Courtesy and good customer service skills

Excellent oral and written communication skills

Conflict resolution skills (to help handle any tenant issues that may arise)

Attention to detail

The ability to understand and process leases and other property-related documents

Knowledge of the local real estate market and tenant needs

The ability to work independently and/or travel, such as to take prospective tenants to visit a property

8. Take a certification course. The National Apartment Association (NAA) offers the National Apartment Leasing Professional (NALP) certification. Similarly, the Building Owners and Managers Association (BOMA) offers a variety of courses relevant to commercial leasing agents.

There may be a fee associated with the certification course and/or examination.

Certification courses may be offered in-person, online, on-demand, or in a hybrid format.

Certification may require a certain number of hours of coursework, and/or an examination. Contact the relevant real estate association for details.

The NALP certification course requires you to have worked as a leasing consultant for at least six months you can become certified, although you can begin taking this course before you have six months’ experience.

Some BOMA courses are targeted toward leasing agents and property managers with 3-5 years experience.

9. Keep a flexible schedule. Leasing consultants may need to work flexible or unusual hours to serve prospective and current tenants. For instance, prospective tenants may only be able to view apartments to lease outside of regular business hours, so you may need to work evenings or weekends to serve their needs. You will also need to keep in close contact with your tenants to serve them well, and so you should expect to sometimes answer phone calls and emails outside of regular business hours.