3 Tips Before Becoming a Real Esatate Agent Today

Jennifer is a home buyer and seller on AmericawideRealEstateBlog who is thinking about becoming a real estate agent. She wants to know if now is the right time to get into the business and what skills she will need in order to succeed. These are fantastic questions with no magic bullet answers. I’ll share some my thoughts on this and if you’d like to add yours too that would be great.
So is it a good time to get into the real estate business? From my perspective, I don’t have a clear answer to that question. Just too many variables involved. It’s almost like asking, “How is the weather in the U.S. today?” It really depends on where your standing doesn’t it? So, what I’d like to do is share 3 tips that I learned when I entered the real estate business.
1. Spread the word - Before you even start taking your real estate classes, make sure you tap into your existing sphere of influence. Let everyone you know that you will be getting your real estate license soon. This includes informing all the people and businesses in your local neighborhood. You never know who might be in the market to buy or sell. This will prime your pipeline up and help you get a jump start. Because let’s face it, before you can become a superstar agent, you need to get your feet wet. Working with people that you or your sphere know will help you get over those awkward “green” agent hiccups a lot easier. This worked for me when I first started and it can work for you too.
2. Educate yourself - Research the brokerage models that are available in your local market. Don’t join the first one you see. Whether you choose a mom and pop operation or a national big box brand, find out what they can offer you and create a business plan. Then, make sure you have a mentor within your office that will help you learn the ropes. Watch them closely. Absorb everything they do and say. Let it simmer. Then digest. Apply what you feel comfortable with into your routine. Regardless, having a mentor is priceless. You will be amazed on what that course textbook did not teach you. Don’t get me wrong. By all means, continue to read real estate, marketing and technology books and trade publications. Knowledge is power. The more you know, the better you will be able to serve your clients.
3. Have some reserves - Don’t expect to be bringing home the bacon overnight. The real estate cycle is not an expeditious one by any means. You can go months before you generate any income. First you have to find a buyer and seller to work with. Then find a home for your buyer or a buyer for your seller. Then get into contract. Inspections. Etc……You know what I’m saying, right? So, depending on your financial situation and local market, make sure you have at between 3-9 months of cash in the stash. You need to live and take care of yourself and your family before you can take care of others.
Bonus:
Get Social - Home buyers, sellers and agents are online. They are having a two way conversation with each other. Engage them or someone else will. More on this in a follow up post….