MAIN IMAGE: Lance Rothschild, candidate property professional
Kerry Dimmer
Candidate property practitioner Lance Rothschild, a doyen of the South African radio industry who helped put Radio 5 on the map, shares his story.
Briefly, your career history?
I spent most of my working career in radio and media. From 1986 to 1994, I served as station manager of Radio 5/5FM, after which I started a marketing and communications consultancy. I was also instrumental in the development of the South African Radio Awards in 2009 and served as the CEO of these awards until 2019.
Why property?
I have always enjoyed the property market. My mother-in-law had a very successful estate agency in Johannesburg. I used to enjoy assisting her from time to time and found the interactions with people very enjoyable.
Over the years, I realised that property is more about people and the dynamics around their lifestyle choices than real estate being an industry. You really have to understand their needs and how property is a huge part of achieving their dreams, whether renting, buying, or buying as an investment. You step in as a catalyst to achieve their property goals, but you really have to love working with people and a broad spectrum of them. Fortunately, this is something that taps into my soul.
What aspects of property interest you most?
I like the flexibility it offers me. I work within my time frame and at my own pace, and I have the freedom to pursue other interests. It’s also very rewarding helping people find the property that meets their needs and assisting others in selling. I particularly enjoy being able to offer a professional and complete service.
Describe the journey you have taken as a candidate property practitioner?
I initially joined Century 21, working there for some time before moving to Harcourts Infinite. I am based in Plettenberg Bay, a large area with a very broad market. It also attracts investments into holiday homes, including retirees who want to settle at the coast, adding to the area’s growing number of full-time local residents. It also has a wide variety of property types, making Plettenberg Bay a good contender for those seeking a coastal lifestyle, with a variety of amenities that make for good living.
Your interactions with the PPRA?
The PPRA is very structured regarding how newbies come into the industry. There is a process upon joining the industry with compulsory certification, and a Code of Conduct governs us.
Before you can start working as a candidate, you have to register with the PPRA and get a Fidelity Fund Certificate. You also need to commit to progressing through the various aspects of training. This is how you can acquire the knowledge and experience to qualify at the NQF 4 level. Only then can you take the PDE 4 examination, which will allow you to become a full-status agent.
How challenging is this process, and what are the value-adds?
The process is not very challenging, but it does require commitment. As a candidate, you need to submit a logbook indicating that you have trained and been exposed to various aspects of the real estate business.
However, the logbook process is presently being superseded, and I cannot comment on the new system at this stage. However, I view my logbook as a diary of my real estate journey, to which I have devoted much time and attention.
Do you feel there are holes/gaps in the system, or are there things that could be done differently or better?
I don’t think that there are any holes in the system at present. As mentioned, it’s a relatively easy path to follow, and I am progressing through all the steps to achieve a Property Practitioner qualification.
How much mentoring do you receive, from whom, and is this a crucial aspect of the candidacy?
I receive ongoing mentoring from my principal and colleagues through both formally structured meetings and team interaction. I think mentoring is a crucial aspect of candidacy, as there is a lot more to real estate than meets the eye.
Although I have a substantial amount of business and people experience, and despite having bought and sold properties throughout my life, I realise I still have much to learn about this sector. Fortunately, I am surrounded by highly skilled and experienced agents who willingly impart their knowledge and share tips.
When will you qualify, and where do you propose to sell property?
I am working towards completing my NQF 4, which I hope to have completed by early October. If possible, I will take the PDE 4 examination in November or February 2025.
I intend to continue to focus on the Plettenberg Bay area, having lived there for the past 12 years. I’ve witnessed and experienced the growth and development in the area, and I believe that, as a result, I can serve the area very well.
Do you recommend this as a career for retirees, and if so, why?
This is not necessarily a great career for retirees unless you have enormous energy, enthusiasm, and a lot of self-motivation. However, it is a career that will reward hard work and commitment.
In my opinion, real estate can present the opportunity to earn a living for retirees looking for something to do. Still, with a warning: one has to remember that no one pays you a salary and that you are responsible for generating your earnings.
