Covid triggers career change into real estate

Vicky Qiao. Photo: Geoff Sloan
Vicky Qiao. Photo: Geoff Sloan
Vicky Qiao was dispensing beauty advice, duty free, at Christchurch Airport when it became apparent a departure was imminent - Covid-19 was bound to force a career change.

So she joined the unfortunate Cantabrians forced to consider alternative employment once the coronavirus pandemic spread.

“I did a short stint at the duty free and then Covid hit. We went straight into lockdown, overnight it just went dead.”

Qiao made what appears a logical decision to join an industry that has boomed in spite of people hunkering down at home.

Returning to hospitality hardly seemed viable, so Qiao was sold on real estate after attending a careers evening at Harcourts last year.

“I started to think about what my next step would be and since Covid struck the real estate market has been particularly active. That has triggered a lot of people to have a career change,” she said.

“I found that (careers evening) really interesting. I thought it was the perfect mix for me. It’s such an exciting industry. It’s ever-changing and I like change,” she said.

Qiao is not the only Christchurch resident to embrace change.

Figures obtained from the Real Estate Authority – the regulator responsible for licensing real estate professionals – illustrate the industry’s appeal.

The REA issued 1228 new real estate licences nationwide in the second half of 2020, an increase of 45 per cent on the same period in 2019.

Between March 2019 and March 2021 the number of licences issued in the Canterbury/West Coast region increased from 1680 to 1883.

Belinda Moffat.
Belinda Moffat.
“The average age of someone applying for a real estate licence is 38, which suggests applicants are bringing their skills and expertise to real estate after having had careers in other fields,” said REA chief executive Belinda Moffat.

“The property market has remained buoyant in the wake of Covid-19 with intense activity,” she said.

The latest Real Estate Institute of New Zealand property report backs that view, with the median house price in Christchurch increasing from $474,000 in May 2020 to $600,000 in May 2021.

Sales volume was also up in the city, with 374 houses sold last May compared to 722 last month.

Qiao did a six-month online course through Skills and once she passed the New Zealand Real Estate Certificate (Level 4) she became a licenced salesperson through the REA.

Harcourts also provides an eight-week in-house training programme.

“We do that training in the morning, the rest of the day you carry on with your normal real estate work,” Qiao said.

She also said there has been a wealth of information to absorb since making her latest career change.

“There’s a lot to take in, property law, contract law . . . legislation. Our branch managers and sales managers provide amazing and abundant support.

“They’re here to supervise us during the first six months of our real estate practice.”

Qiao is still working on securing her first listing and already visualising her first sale while building the all-important network of contacts.

“There are a couple of different avenues. First of all we start off with our friends and family, we shout it to the world that we’re doing real estate now.”

Then there’s leaflet drops and old-fashioned door knocking because the rivalry is intense.

Vicky Qiao. Photo: Geoff Sloan
Vicky Qiao. Photo: Geoff Sloan
Qiao acknowledged she has entered a competitive marketplace.

“From a new person’s perspective there is competition but I actually see it as an opportunity,” she said.

“The more established or experienced agents may have many listings at any given time so their time and attention will be divided.

“For us starting out new, we do have a bit more time on our hands so we can provide a more personalised one-on-one service for our clients.”

Other than the necessary qualifications, budding salespeople needed other key attributes, according to REINZ acting chief executive Wendy Alexander.

“Ultimately selling real estate is about people skills – you’re dealing with people at a hugely important time in their lives. Buying and selling a home is a really big deal and it’s often people’s most significant asset, so having the skills to support people through this time is key,” she said.

“They need a good network of contacts, be an excellent communicator/listener and have a strong work ethic and tenacity.”