How to Jump Start My Real Estate Career
Posted by: John Crow
Date: December 06, 2019
Posted by: John Crow
Date: December 06, 2019
Is being a real estate agent a rewarding career? Like any career, becoming a real estate agent can be an exceptionally rewarding and profitable venture. If you are a self-starting person who understands marketing, is detail-oriented and is willing to put your clients’ goals and dreams ahead of your own interests, starting a real estate business may be exactly what you’re looking for.
There are many benefits associated with being a real estate agent. Among these benefits is a high level of income relative to the amount of training and expense it takes to enter the field. Essentially $1,000 and one month’s training is all it takes for a person to begin a career that could generate in excess of $100,000 annual salary. In addition, a real estate agent is his or her own boss, which means they’ll have the flexibility to never miss a kid’s game or school play, and to take vacations and rest when needed.
There is math involved in managing a real estate career. However, it is basic math, not advanced algebraic concepts or calculus.
Becoming a licensed real estate agent is relatively simple. It requires passing a series of state-approved courses, passing a state-approved exam, having your fingerprints reviewed by regulatory authorities, paying dues, and being hired by a broker. Becoming a real estate agent is simple; however, performing all of the responsibilities of a real estate agent, including handling the transactions, keeping track of people’s finances, managing difficult personalities and marketing your own business can be overwhelming.
In all market cycles people need a place to live, or they need a building from which to transact business. This is why real estate, regardless of market cycle, will always be a relevant and stable career.
Property management is the business of coordinating tenant needs, housing repairs, managing expenses in accounting for income. To begin a career in property management it is recommended to interview with a property management company. There are many positions to get started such as leasing agent, property inspector, and property manager. Property management companies also often employ a sales agent.
While the market is changing, a highly sophisticated expert in real estate who utilizes tools to make them efficient, markets themselves well in their sphere of influence and continues to expand it, will always have a place in the industry. According to the National Association of Realtors, there are currently over 50,000 licensed agents in the state of Arizona. These numbers expand and contract through the typical market cycles enter changes in technology as are being experienced today.
The global economy is evolving at a dizzying pace. The norms in every industry are being challenged. What worked today will not work tomorrow. The same is true in real estate – agents who are reliant on their old ways will become irrelevant. Agents who utilize new technology, provide excellent service and become extraordinarily efficient will have a long and predictable career.
The real estate agent is an employee of a broker. Most states require an agent to specifically work and function under the direct supervision of his or her broker. In the state of Arizona it is unlawful to assist in the sale or purchase of real estate without being employed by a licensed real estate broker.
The term successful is relative to the individual. Many agents have successfully helped clients in a part-time capacity. The question isn’t whether or not an agent can successfully guide a client in their part-time. The question is whether or not an agent can provide the level of service and maintain the level of knowledge necessary to be excellent in their field, when it is not their full-time occupation.
Passing the licensing exam is just the beginning. Once licensed, an agent needs real training and it should be available in all forms. Look for an organization that employs frequent instructor-led, classroom-facilitated coursework. Make sure that one-on-one mentorship with top producing experts is available.
Find a Company That Offers Leads: Typically the motivation for starting a team is that there is more work and more customers than the team leader can handle. He/she forms a team and assigns the work he doesn’t like to do, and the prospective customers he doesn’t want to serve, to the team members. In exchange, the team members will share with the team leader a considerable portion of their commissionable income.
Agent Training Is More Than An Occasional Meeting: Go with a company that also offers online, go-at-your-own pace, self-guided training, and offers all continuing education at no cost. Finally, seek an organization where the members regularly collaborate as a team.
Will Your Prospective Clients Trust Your Brand: Especially for new agents, branding is a key component of growing their business. When buying and selling, people do business with those who they deem trustworthy. A large national brand brings instant credibility and trustworthiness, but a small or individually-named brand does not. Join an organization with national brand recognition and local expertise and reputation.
Becoming a successful real estate professional begins with telling the world you are here to serve them. Real estate is relationships.
Social Media: Social media, with all of its pros and cons, is chock full of buyers and sellers. An agent must learn to be viewed as an expert in real estate investing, buying, and selling, but most learn to do so in a personal and relationship-centered way.
Local Community Involvement: There is no better way to grow and build deep relationships than by getting out into the community and serving alongside others. New agents should consider how exactly they will leverage their time and serve their community. Whether it’s serving in a church, a club, at a school or some other organization, this type of involvement is essential in any real estate career.
CRM: CRM, or Customer Relationship Management software is an essential part of any agents’ business. Here an agent will track all important data about prospective clients: their wants, their needs, their desires. This allows an agent to provide a heightened level of service to that client, but also to leverage their time by sending relevant information to them when they need it, and to always stay in front of them so that when they are ready to make a buying or selling decision, they think of you first.
Neighborhood Farm: A neighborhood “farm” or a Geo Farm is exactly as it sounds – it’s an area in close proximity to your home that allows you to connect in deeper, more meaningful ways with the people who share your neighborhood. By utilizing certain collateral materials and good old-fashioned shoe leather, an agent can kill two birds with one stone: they get to meet their neighbors and know the issues that their neighborhood is facing, while also representing themselves as a trusted expert who has a vested interest in keeping values high.
Collateral Materials: A business card is the first piece of collateral material that a new agent must possess. With it they will never miss an opportunity to share their name and contact information with someone who may need their services. In addition, other collateral materials such as calendars, brochures and marketing flyers help to get the word out.
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