Did you know that real estate agents who work 60 hours every week make on average 145,347 dollars a year? If you want to swap careers and become a real estate agent, we can help.
In this guide, we’ll go over the things you need to know about working in real estate. You’ll learn what steps to take to become an agent and how to make your business a success.
Want to learn more? Keep reading.
Meet Your State’s Licensing Requirements
There isn’t a national real estate license, but you’ll need to get a state license. Check your state’s real estate regulatory website to get more information. Complete a real estate license course online.
First, you’ll need to finish a pre-licensing course. You’ll then need to pass the licensing exam and activate your license. Finally, you’ll have to join a real estate brokerage.
Real estate agents will work under a licensed real estate broker. Down the road, you might decide you want to become a broker.
If you want to become a broker, you’ll need to meet the different experience and educational requirements. After you have a broker license, you could hire sales agents to work for you.
It should take around six months to get your real estate license. Aim to budget a couple of thousand dollars. You will need sale signs, business cards, websites, and open house signs.
You’ll also have to cover MLS fees. Don’t forget about the cost of the exam and licensing course.
You’ll Need to Generate Leads
One thing that’s central to your success is finding clients as a broker or sales agent. If you don’t have sellers or buyers, you won’t handle transactions and get commissions.
Many new agents will generate new leads through a Working in Real Estate sphere of influence (SOI) strategy.
The strategy will focus on generating leads through your contacts. These people could include friends, family, classmates, neighbors, or business associates.
During a typical business day, you will talk and meet with a lot of different people. You will share contact details, hand out business cards, and file contact information.
After making initial contact, follow up through emails, snail mail, text, or phone calls. This way, people will remember you in the future if they need to buy or sell a home.
A lot of people will rent, buy, or sell property in their lives. Everyone who comes into your life could be a potential client. Make the most of every opportunity.
You’ll Need to Learn How to Manage Your Time
Real estate agents don’t tend to work the typical nine to five workday. Agents will have a schedule that works for their clients.
Agents tend to be quite busy from morning to night. They will need to handle the admin work and stay in touch with different clients. You might get a call from a new client at 10 at night.
Be aware that you’ll need to improve your time management skills.
You’ll Need to Complete Admin Work
Being a broker or sales agent means you’ll have to handle a massive load of admin tasks. Your legal documents will need to be accurate. You’ll also have to organize and coordinate events for multiple listings.
In one day, you may have to finish, submit, and file real estate agreements, documents, or lease records.
You’ll have calls from clients throughout the day. You’ll need to schedule showings, open houses, appointments, or meetings.
You might have to create and pass out flyers or other promotional materials. Don’t forget about maintaining your electronic filing systems for correspondence and records.
You will need to create a marketing plan for listings and build your client databases. Real estate agents will also create annual, quarterly, and monthly budgets.
Agents will need to respond to calls, emails, or texts. Successful agents run social media accounts promoting their listings.
Over time, you might want to hire an assistant. The assistant will help you with these administrative tasks. At first, you will need to finish these tasks on your own.
Career-wise, are you good at paperwork and detail-oriented? Do you have the drive to get these admin duties done often, and are you organized?
Can you handle the stress of juggling different tasks while facing deadlines?
Your Income Could Skyrocket
People tend to consider real estate as a career because the income isn’t limited to a salary or hourly pay scale.
Real estate agents will get an income based on the time they’re investing in their sales and clients. Your earning potential’s unlimited.
Enjoy Meaningful Work
Agents will work with people when it comes time to buy their first home, sell a cottage, or downsize. You will be there to help people as they make a significant life change or invest in property.
As a real estate agent, you will mentor and guide your clients.
What Will Help You Stand Out?
To grow your business, you need to determine what will make you stand apart from the other agents. You’ll need to provide top service to clients. This way, past clients will share their experiences with friends and family.
Now You Know More About Working In Real Estate
We hope this guide on working in real estate was helpful. You’ll need to handle admin tasks and submit paperwork before the deadline.
You’ll also have to generate new leads all the time. Enjoy the freedom to make an unlimited income, and help people make significant decisions.
Are you looking for more helpful information? Check out our sections on home and real estate.