How To Become A Licensed Real Estate Agent In Ghana: Everything You Need To Know

Are you thinking about getting your real estate license in Ghana? Becoming a licensed real estate agent in Ghana is a process that can take a few months or even a year to complete. 
The first step is to receive training from a licensed real estate agent. After you have completed the training, you need to pass a licensing exam. Once you have passed the licensing exam, you can apply for a license.
Though becoming a successful real estate agent takes time and consistency. Being a real estate agent is fantastic if you like properties and enjoy interacting with people. This goes to say that the popular belief real estate brokers don't work very hard but make a lot of money is untrue.
It can be rewarding, interesting, and lucrative to work in the real estate sector. Simply put, you must put in more effort and think differently from the competition if you want to succeed as a real estate agent in Ghana.

Who is A Licenced Real Estate Agent

A licensed real estate agent is somebody who is licensed by the Ghana Real Estate Agency Council to help people buy and sell property. You must finish a minimum number of real estate courses and pass an exam to become a legal agent.

In Ghana, the law provides that a person can not provide (a) real estate agency services, (b) provide services as a real estate broker or real estate agent, (c) engage in any business connected with the provision of real estate agency services, or (d) engage in a real estate transaction if the person is not a licensed real estate broker or an agent. 

Requirements For Real Estate Licence To Operate In Ghana

For a person to become a licensed real estate agent in Ghana, the person should be:

• An individual who has passed a qualifying examination conducted by (i) the Board; or (ii) an independent testing service designated by the Board; 
• A valuation and estate surveyor registered by the Ghana Institution of Surveyors or is a lawyer licensed by the General Legal Council to practice as a lawyer
• Someone who is not resident in this country is a licensed real estate broker or a licensed real estate agent in the country of residence of that person or 
• Someone who has a Tax Identification Number.

How To Get Your Real Estate Agent Licence In Ghana

• Learn all the real estate courses and educational requirements
• Find an approved real estate school or certification course
• Undertake an examination conducted by the governing council
• Apply to the council for your real estate agent license
• Complete the necessary paperwork
• Find work as a real estate agent and do due diligence work to avoid your license being revoked by the council.

Tasks And Duties Of A Licenced Real Estate Agent

• Finding possible clients and finding potential buyers.
• promoting the sale of properties through print and online listings, open houses, and brochures.
• Accompanying potential buyers on property inspections and showcasing homes.
• writing reports, property appraisals, contract and document preparation, buyer and seller negotiations, and settlement facilitation.
• Offering clients advice on a range of topics, including market circumstances, prices, mortgages, legal requirements, and allied issues including building, financing, upkeep, repairs, and appraisals.

4 Steps To Becoming A Real Estate Agent In Ghana

So where do you even begin? Right here are the steps involved in becoming a real estate agent and the factors you should think about as you proceed. 

1. Plan the time and money you'll need to obtain a license

It can be quite time-consuming and difficult to plan for a license. You'll need to choose the appropriate licensing authority, obtain the required documentation, and make an appointment. You will also need to budget the time and money to complete the process.

Find out the approved courses from the council and do thorough studying for at least several months and up to a year. Following completion of the courses, you can sit for the state-required exam to become a licensed real estate agent. The test isn’t simple, make sure to prepare well before registering.

2. Work under a real estate brokerage 

It is important to have a good understanding of the legal and financial aspects of property transactions. This includes understanding what is involved in a typical sales transaction, such as preparing and filing a deed, recording a deed, and negotiating the purchase or sale of the property.

Additionally, real estate agents are typically responsible for advising clients on property purchases. In order to effectively provide these services, real estate agents must have a good understanding of the law and financial systems.

3. Determine the startup costs

It is important to consider all of the startup costs when estimating the costs of operating a real estate agent. Despite the fact that you'll be working under a registered real estate broker, real estate agents are independent contractors. Instead of accepting listings, most new agents begin their careers dealing with buyers. There will be a lot of petrol used while driving around town looking at houses.

4. Determine the type of job you want

There are basically three main roles for new real estate agent starters in Ghana: Administration, Property Management, and Sales. Be prepared for any of these roles. The property thing is to be ready for any of the roles. Learn all aspects of agency practice and become fully competent in a mix of office functions. 

Approved Real Estate Courses In Ghana For Agents

There are many courses on real estate in Ghana that have been approved by the government. These courses can help agents become more knowledgeable and skilled in the real estate industry. The courses recommended by the law include

• The principles of real estate practice
• Real estate law
• Basic law of agency
• Rudimentary principles of economics
• Professional ethics of real estate agency
•  Appraisal of real estate

Pros & Cons Of Becoming A Real Estate Agent In Ghana

There are many pros and cons of working as a real estate agent. Here are some of the pros and cons: 

Pros:

Cons:  

1. You need to be more enlightened on real estate laws

2. The industry is not well-regulated so you will need to work with due diligence

3. Real estate agents are typically required to work a lot of weekends and holidays

4. You’re always on call. 

Summary 

For the right person, real estate can be a fantastic career. Start off part-time while keeping your day job if you're interested in real estate and believe you have what it takes to succeed. By doing this, you may determine whether investing in real estate is something you should pursue fully before quitting your work.