Apartment Leasing Agent Training and Education Program Information
An apartment leasing agent is hired by owners of apartment buildings to find proper tenants for the apartments. Owners may have differing education requirements for their leasing agents, although state requirements must also be followed. These can range from only a high school education to a real estate license. Some states have a specialized leasing agent license with pre-licensing requirements that include a short training course in leasing.
Apartment Leasing Professional Program
The National Apartment Association (NAA) is a partnership of affiliates that represent more than 5.9 million apartments in the United States and Canada and the 50,000 companies that own them. The NAA Education Institute (NAAEI) offers coursework and exams that lead to nationally recognized designations for the apartment housing industry, including a National Apartment Leasing Professional (NALP) credential. Many colleges and universities have courses to prepare students to earn and test for the NALP designation. The course is also available online.
There are no prerequisites for taking the NALP course. However, those who wish to test for the designation must have at least six months of experience in the apartment industry, in addition to taking the required courses.
The coursework covers eight areas. These are:
- How to be successful in leasing
- Presenting an apartment over the telephone
- Using the Internet as an aide in leasing
- Interviewing potential customers
- Showing the property and resolving any concerns
- Rental procedures and policies
- Legal elements in leasing
- Presenting leasing information from a market survey
According to the U.S. Bureau of Labor Statistics (BLS), employment growth for managers of property, real estate and community associations (the occupational group most closely aligned to apartment leasing agents) should be about equal to growth in all occupations from 2008-2018. That means a projected increase in jobs during that period of about 7-13% (www.bls.gov).
To renew the NALP designation, individuals must have earned three continuing education credits during the preceding year. The NAA website lists a number of acceptable courses. State real estate guidelines also often have acceptable courses.
Certificate in Real Estate
Real estate certificates usually offer enough coursework and credit hours to qualify graduates to take a real estate licensing exam in most states. Often a real estate license is required for jobs in apartment leasing. Course titles seldom indicate whether or not leasing training is covered. Students who wish to specialize in leasing will need to read course descriptions to learn how much leasing training is offered. State licensing requirements usually do not include a high school diploma; accordingly most schools do not require a high school diploma or GED for acceptance into a real estate certificate program.
Often the courses in a real estate certificate program are determined by licensing laws in the state where the school is located. Coursework often includes:
- Basic laws and principles of real estate
- Brokering mortgages
- How to appraise real estate
- Leases, contracts, title searches, deeds and other real estate transactions
- Managing real estate properties
- Real estate financing rules and options
- Role of escrow companies
The BLS anticipated that jobs for real estate brokers and agents would increase by 14% from 2008-2018, a rate that is faster than average for all occupations. The median annual wages (including commissions) of salaried real estate brokers who were involved in leasing real estate was $47,230 in May of 2008. Median wages that same month for salaried real estate agents who did similar work was $32,150.
Licenses and Continuing Education
Each state has its own licensing and continuing education (CE) requirements. There are major differences in requirements between states. Schools that offer real estate training will often have continuing education programs; states usually offer a list of acceptable training and CE programs. Graduates with certificates in real estate may also choose to earn an associate degree in real estate. If real estate professionals do not have the NALP designation, this is another CE option.
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