Young people seeking careers in real estate sales must be patient and innovative and make it a priority to get accredited, says someone who should know: Mhlonishwa Winston Kunene, founder and group CEO of Libertalia Group.
Black South Africans are under-represented in the profession, he says — just as they are among property buyers.
“I’m passionate about this, especially young people. That’s usually my target audience. [They are] not necessarily the people I sell to, but the young people that I empower,” Kunene said.
“But I am in a business that is obviously dominated by the older generation.
“So, these are people who are buying the most expensive homes… According to stats, there are only a few first-time home buyers below 35.”
According to statistics released last year, of the estimated 50,000 accredited estate agents in the country, only 12% are black.
Kunene, 29, has extensive experience in related sub-sectors like property management, guesthouse management, rentals, residential sales, commercial sales, consultation, sector training and empowerment.
Libertalia Group includes a non-profit organisation called the SA Youth in Property Association, which helps young people find training, learn about regulatory standards and generally get exposure to the property sector.
Kunene said that with mentorship, guidance and a willingness to prove himself he navigated the struggles of getting into the sector and became an agent in an exceptionally short time.
“It’s really [a challenge of] access to markets. I experienced it as a young person at 18. I joined Pam Golding, and was mentored by one of the top-producing agents. My very first job was to just put up ‘for sale’ signs for her.
“I might not have had the experience and qualifications to sell houses at that time, but because I’m a fast learner, [and thanks to] my ambition and willingness to learn, I was promoted three months later to become an intern estate agent — because I helped her increase her sales.”
He said Pam Golding’s brand was instrumental to his growth as an agent before he branched out on his own.
“I managed to pivot through those challenges. Resilience was one of the things [that helped me], and the second thing is I documented the little wins that I got.
“I would reach out to 100 owners, and only seven would give me business.”
Kunene flagged a high drop-out rate among would-be property agents.
He hopes to establish a real estate institute that will offer courses, prerecorded lectures and seminars at affordable rates for young people.
Young people are innovative, and they can leverage that to complement the institutional memory of older practitioners, he said, adding that AI — which youngsters are likely adopting more quickly than their elders are — is another advantage.
“When an agent goes out there and takes pictures of houses, they need to advertise those properties…
“That is an opportunity with photography… where young people can equip themselves, without necessarily having the licensing.
“Young people are tech-savvy.”
Thato Ramaili, CEO of the Property Practitioners Regulatory Authority, said the body wanted to see a more inclusive property sector.
There had been progress in terms of blacks gaining high-level posts but whites continued to dominate senior, principal and director positions.
“Women represent 54% of registered property practitioners, and previously disadvantaged individuals comprise 30% of the national profile — a modest but important step in redressing historic imbalances.” — Business Times
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