A career in real estate can be financially and emotionally rewarding. You can help people find their new homes and spaces that suit their needs perfectly. However, getting started in this field is not as easy as you might think. Before you make the switch, here is what you should know about being a realtor.
1) It’s All About the Work
Realtors do receive a handsome commission when they sell a home, but that’s only after a good deal of work. Successful realtors engage regularly in sales, they network and treat their career like their own personal business. They also focus on delivering great customer service so that their clients will stick with them throughout the process and refer their friends.
2) Understand Life on Commission
When you work on commission, it’s feast or famine throughout the year. You will have times of plenty followed by times when the phone seems to stop ringing. There is no stability of a regular paycheck that arrives every other week. Realtors who are able to ascend to the next level understand the importance of putting money aside and living on a budget. The hardest time will be that first year when you’re initially starting the business. Many people choose to keep a second job while they build their real estate business, and that may be the right choice for you, as well.
3) Education and Continual Learning
Before you can start selling loans, you’ll have to get the right education. You’ll need to learn all about the industry and pass your licensing exam. Even after you become an agent, you’ll still have to participate in classes throughout the year to keep your license. This is also in your best interest because the field is constantly changing. In addition to market shifts, you’ll also see changes in the technology. Be willing to learn throughout your career so that you can enjoy constant growth. Learn from others whenever possible by finding mentors. Despite rumors online, programs like Success Path are not scams; they are helpful resources for getting your career in real estate started.
4) Plan on Marketing Every Single Day
There are countless realtors in the market, and they can all show houses throughout the area. You need to market yourself, and that means constant networking. Be involved in your area professionally, start building a contact list, and maintain a positive Internet presence. The more you do to get to know people, the more likely it is people will think of you when they’re ready to buy or sell. This is a business, and it’s up to you to help it rise or watch it fall.
5) Choose the Right Office
As a realtor, you’re going to need some assistance initially. Finding the right office is an important step in moving your career forward. You can sign on with a franchise or chain, but you should be aware that you may have higher costs initially and less freedom to experiment with marketing. However, you’ll also have access to great technology and an impressive referral and inventory list. Independent office will let you have more input on programs, but the support and guidance will vary greatly. This is why many agents choose to start with a major brand and then switch to a local firm later if they find a good match.
Regardless of the pathway you choose, remember that your willingness to learn, adapt, and grow will make the difference between tops in sales and waiting for the phone to ring. Set personal goals for marketing, networking, and learning so that you can watch your sales grow organically over the coming years.
Dixie Somers is a freelance writer and blogger for business, home, and family niches. Dixie lives in Phoenix, Arizona, and is the proud mother of three beautiful girls and wife to a wonderful husband. You can follower her on Twitter @DixieSomers.