ERA Creates $1 Million Grant to Help New Property Agents

ERA Realty Network is launching a $1 million start-up grant. The grant will be used to offset the joining fees of new property agents.

ERA’s grant covers $1,027 of its usual $1,127 joining fee. This means that ERA’s property agents will only need to pay around $100 in administrative fees.

The grant will cover payment for the following:

An administrative fee of $53.50 for new property agents
A registration fee of $230
Payment for a compulsory work kit of $180
Additional $100 subsidy for its compulsory, skills-based training (the full cost is $200)
$463.50 worth of renewal fees

$1 Million Grant for New ERA Agents — ERA’s new grant will help new property agents with initial costs.

Citing global uncertainty, ERA says: “this startup grant comes in handy for the weak labour market, affected by the fast-paced technological change”.

Start-up costs are a major hurdle for new property agents

As most property agents can tell you, a significant amount of capital must be set aside by new property agents. Besides paying for the necessary registration and training, property agents also need sufficient capital to market their first properties; they will also need sufficient funds to tide them through the first few months (which may be devoid of sales).

By mitigating some of these costs, ERA seems to be addressing a common industry disincentive – the high cost of starting out as an agent. Let’s hope we see more real estate firms follow suit.

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About Maelyn Lagman

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