Locum jobs are common-place in the medical and healthcare fields. Typically, a locum doctor will temporarily stand in for a permanent doctor when they are on leave. What about a real estate locum?
Recently, ‘locumming’ has become more common in other industry sectors, such as legal, pharmacy, business and namely real estate and property management.
Like many businesses, being the principal or licensee of a real estate agency can mean long hours and a lot of administration and paperwork.
Real Estate Agency Licensees need time out from the day-to-day running of their business to attend industry-related conferences, recruit and train staff and stay on top of real estate regulatory compliance. Not to mention needing time off for illness, personal reasons, or a holiday.
Having an extra pair of hands to call on at short-notice is helpful, and as of recently, that extra pair of hands is required to be licensed and qualified.
How a real estate locum can help licensees meet industry regulatory requirements
According to the real estate industry regulatory bodies:
- A licensee of an office cannot be absent from the agency without having someone to manage in their place.
- No matter the reason (illness etc.) according to the NSW Office of Fair Trading there must be someone present at all times.
- If the Licensee is likely to be away for more than 30 days, they must appoint agent’s representative to stand in for them whilst they are away. They must also seek approval for the appointment from the Business Licensing Authority.
- However, if the licensee appoints a licensed locum, in the form of a licensed real estate agent during this 30-day period, they do not need to seek approval from the Business Licensing Authority, so as long as they are returning.
Not everyone can confidently step into the shoes of a principal or licensee and comfortably run the show in their absence. This is where Real Estate Locums are qualified to do so.
What are the benefits of engaging an experienced real estate agent as a locum to look after your office and staff?
- They are flexible and can work when it suits the business needs and demands of the agency.
- They are adaptable with respect to different processes and IT systems.
- Their industry and business management experience means they are ready to ‘hit the ground running’ with fewer business disruptions and greater continuity.
- They offer a fresh pair of eyes with which to view the agency’s business operations.
- They can coach and motivate staff.
- They are quick to establish relationships.
- They understand how to effectively communicate.
When an agency is short on staff, or the principal agent needs a holiday, real estate locums could be a viable stopgap that give business owners the peace of mind that their business will continue in their absence.