In order to solve all the doubts and concerns about the Real Estate Agent (API), we have prepared this complete guide for you with everything you need to know. Shall we start?
What is a real estate agent?
The Real Estate Agent is a staff trained to carry out operations in the real estate sector and is regulated by Royal Decree 1294/2007.
Official Association of Real Estate Agents
What is the General Council of the Official Associations of Real Estate Agents of Spain (CGCOAPI)? It is an association of public law that serves to represent and defend Real Estate Agents who are collegiate, before the general administration of the State, the Autonomous Communities and International Institutions.
How to be api?
To be an Api, the first thing you have to know is that real estate brokerage activity in Spain is liberalized in accordance with Royal Decree Law 4/2000, of June 24 (article 3) and Law 10/2003, of 20 May (Article 3).
Nowadays, to be able to join the Official Associations of Real Estate Agents, it is necessary to meet the requirements contained in article 1 of the General Statutes of the Official Associations of Real Estate Agents and their General Council, published in the Official State Gazette No. 237 dated October 3, 2007, Royal Decree 1294/2007, of September 28, 2007, of the Ministry of Housing, and that, among other requirements, to join an Official College you must credit the following.
Requirements to be API
The requirements to be a Real Estate Agent are the following:
- Be of age
- Have a degree, graduate, graduate, engineer, architect, technical engineer or architect, or the Official Title of Real Estate Agent.
- Have no criminal record
Note: In the event that the academic qualification held is from a foreign country, homologation or equivalency to the qualifications highlighted in the previous paragraph is required by the Spanish Ministry of Education.
Do you want to know what Real Estate Agent does in his day to day? These are its functions:
- Sale and exchange of rustic and urban properties
- Home equity loans on rustic and urban properties
- Rustic and urban leases, assignment and transfer of the latter
- Evacuate consultations and opinions that are requested on the value of sale, assignment or transfer of the real estate referred to in the three previous sections.
Do you want to know how to obtain the official title of real estate agent issued by the ministry? Since 1999, this type of test has not been called again to obtain the Official Title of Real Estate Agent issued by the Ministry of Development. From that same year the government released the profession and it is no longer necessary to take any exam, or have the API title, or any real estate title to be able to act as a Real Estate Agent
To be able to practice in this profession you will need a lot of knowledge. You can learn all this on your own, but if you have a much better title.
Api title in Catalonia
Is the api title necessary in Catalonia? It is the only autonomous community in Spain where it is mandatory to be registered in the registry of real estate agents of Catalonia – AICAT, but the api title is not mandatory. Registration is free and validates the real estate agent
In other communities such as the Basque Country, Madrid and Andalusia, they have also created a registry for real estate agents, but it is not mandatory to register.
Official title of real estate agent, yes or no?
As we have mentioned, it is not necessary to obtain an official title of real estate agent to practice this profession, except for some requirements for autonomous communities, such as Catalonia. What’s more, many of the most successful professionals in our industry don’t have it.
For what is this? It is true that to progress in this work certain technical knowledge is needed, such as current legislation or the taxation derived from the sale of real estate.
However, this technical knowledge can be acquired outside of regulated environments, through courses for real estate agents or specialized masters.
I said, you do not need to be a lawyer to have basic knowledge of laws, although they are necessary to practice as one of the requirements to be a real estate agent.
What knowledge is most useful
There are professions and studies that help make the job of a real estate professional easier.
This is the case of those who have careers related to psychology, communication and business.
Although it cannot be generalized, these professionals have studied in their respective universities how to relate to other people, with subjects such as sociology, anthropology or marketing.
These knowledge are suitable for working as a real estate agent because they help you to relate to other people, understanding the decision-making mechanisms, for example:
Are you a psychologist? !! Congratulations!! You are in a privileged situation to be able to work as a freelance real estate agent.
You will know first-hand how people’s minds work, and what mechanisms govern their behavior.
If you are a psychologist or have received training in this field, it will be easier for you to understand how to perceive and change wrong or misguided behavior in the person you are dealing with.
Marketing, being on the right side
Have you studied real estate marketing or have you received training in this sector? How lucky you are! As experts in real estate marketing strategies, we know that no serious business can succeed without a good dose of this discipline.
How to promote a product, highlight the characteristics of your business against the competition or how to develop a real estate marketing plan, are some of the things you will know how to do if you want to have the knowledge that was previously required to obtain the title of real estate agent. These insights are easily applicable to any real estate business.
If you have not studied marketing, nothing happens. There are other ways to acquire the knowledge that will allow you to know what it takes to run a business with a firm hand.
Finance, numbers are everything
If you have been lucky enough to study economics or business, you can also calmly dedicate yourself to the real estate business.
Professionals who possess this knowledge are fortunate to know the world of finance inside, which allows them to be familiar with excel sheets, balance sheets and margins.
Is it possible to work in the sector and not know anything about numbers? Everything is possible, but it will cost you less and you will be a better professional if you have knowledge in this field.
Real estate law, closer to the law
Finally, if you have had the opportunity to study and practice as a lawyer, it will be easier for you to deal with contracts, legal aspects and requirements.
The real estate market, like many other business sectors, is governed by regulatory laws. We cannot do what we want and the repercussions of bad practices in the sector can lead to serious consequences.
That is why it is necessary to thoroughly know the law and what it requires to those who are involved in an operation.
If you have studied law, it will be easier for you to be aware of the law of land or horizontal property, so that that part of your job as a real estate agent is covered.
Where to acquire the knowledge?
Regardless of whether or not you have studied any of these careers, it is necessary that you have that knowledge. Where to buy them?
In Spain there are many study centers for real estate agents, in our blog we have analyzed the best courses. Today we recommend this course from the aucal center so that you can acquire all the necessary knowledge to practice as a real estate agent.
In addition to these “structured” studies, you can choose to learn on your own. For this, it is convenient that you design a plan of the knowledge that you consider that your profile is missing.
Our real estate blog can serve as a good starting point. We have been blogging for years on topics related to the day-to-day life of real estate agents.