It’s always good when your job brings both a good income and moral satisfaction. Are you looking for a position where you can apply your communication skills, managerial skills, build your own business? Then you may want to try your luck in the real estate industry.
To be a real estate agent means being a mediator between the buyers and the seller in real estate transactions. Real estate agents rank #5 in the Best Sales and Marketing Jobs. The best-paid estate agent earned about $112,570, while the lowest-paid one earned approximately $22,230.
If you are more interested in building a career in the real estate industry, here are some tips on how to start your path as a real estate agent:
1. Get Your License
Getting your license is making the first step towards your career in the real estate industry. You should find out what are the specific requirements you have to meet to get it, because they may differ from country to country or from state to state.
Usually, you should be more than 18 years old and have your high school education to be able to apply for the pre-exam course and pass the real estate salesperson exam. Remember that some companies or self-employed brokers demand complete post-secondary education (sometimes financial or even legal).
2. Create a Plan
Beginning a new career is always exciting and may also be overwhelming, but keep your head cool. Your first enthusiasm may die very soon, and that is when a precise plan will help you. Makeup with it as quickly as possible and always stick to it.
All professions have their negative sides, and all businesses may fail. But don’t be scared – if you have a database of prospects, you are ready. Just work hard, and some overtime it will pay off.
3. Develop a Budget
Being a real estate agent is a business, and every company needs a budget. It is essential that you understand the debit/credit system and have realistic income expectations. Count your expenses and incomes and make a budget plan that you will stick to while building a career.
Also, it is always better to find a backup income source or save money at least for some months of no income. Lack of income is №1 reason why many new agents fail in their first two years.
4. Be Prepared
At first, you should work on your professional image. Clients will always make their first judgment on how you look and sound. Be a professional – look like one, sound like one, act like one.
You should always have your documents ready and answers prepared. Improvisation might get you out of a difficult situation, but your clients should not see your confusion.
5. Don’t Be a Stereotypical Salesman
Although you are going to be a sales agent, do not try to maintain a stereotype of a pushy real estate salesperson. Indeed, it is beneficial if you are good at sales, but it is not the only way to represent yourself and gain success in the real estate industry. You need to build up the relationship with your clients, and they need to be comfortable with you, not to feel pressure from you.
6. Learn From Other’s Experience
As enumerated before, a lot of real estate agents do not survive their first two years in the industry. You don’t want to repeat their fate, that’s why knowing the reasons of other failures will help you to keep on.
7. Choose Your Partners Carefully
As a young real estate agent, you might want someone with experience to be your guide in the industry. You might also want to work as a team member. But remember to choose your business mentors or partners very carefully – you should share common values and ideals.
8. Use Technology
Keep up with the times! Nowadays you can’t imagine any marketing strategy without using technology and the Internet. A strong online presence will widen and strengthen your brand.
Also, it is very convenient to keep your documents and working materials on different cloud services, or you might want to use MS Office to organize your work. At the same time, you can enhance your deals with the latest Blockchain developments. But don’t forget to make copies – technologies sometimes may fail.
9. Know Your Market
Use your first months in the industry wisely – study your market. The more you are prepared – the more successful your business becomes. Go to the auctions, get to know the area and its attractions, learn supply and demand, and visit online sources actively to understand various platforms, long-term, like Rentberry.com, and short-term, like Booking.com and Airbnb.com.
You should also choose your marketing niche. Some real estate agents only work with a specific type of property, other – just with one kind of client. It is not necessary to do so, but it will narrow your profile as a specialist.
10. Learn to Say “No.”
Never exaggerate the offer to your clients to make a deal with them. You should always set realistic goals which means that you will not under-deliver in the end. Be honest with your clients – that will be more respectful towards them.
Also, remember that you can never please everybody – do not even try, because you are guaranteed to fail. It is your business and your reputation. Instead of setting unrealistic goals and then wasting your time in attempts to bringing them to life, you better spend your time with family or having a business lunch.
To Sum Up
A new career is always a big step that demands a lot of strength and courage. Plan for success and stick to it. Remember, this is your business, your responsibility, and your reputation. Here were some tips for you to help you gain a successful career in the real estate industry.