Should I Become a Real Estate Agent

Should I Become a Real Estate Agent Should I Become a Real Estate Agent? How does one get into the real estate business? How much does a Real Estate Agent make early on? Is it possible to do it part-time? Whether you’re thinking of a new career or trying to add an extra source of income, real estate is definitely an industry that can support both. Of course, granted that you’re prepared to invest a lot of time and energy into getting started. After all, it is yourself that’s going to be your primary asset, and in order for you to succeed, you’ll need to market yourself really well and stay patient. Having said that, here’s a few things to take note of to get yourself started on your real estate career: Get licensed First off, secure a Real Estate License. Keep in mind, though, that most states have state-specific requirements. Therefore, it’s better to check with your local commission onset so that you can sign up only for the required online or in-person pre-license real estate courses in your market. Nowadays, the most efficient and flexible way to get trained for licensure is online, since web-based courses enable you to study at your own pace at any time. Just make sure that the training you’ve enrolled yourself in is coming from an accredited real estate Pre-license educator and that the topics they’re covering are up to date. Take the state exam Once you’ve completed the required hours of pre-license training, you will need to take the state’s official exam to become a licensed real estate salesperson. Make sure to have your certificate of completion from an approved provider on-hand when you’re ready to take the exam. Exam dates fill up fast so make sure to reserve your spot with plenty of time to prepare. Where and how do you start? You passed your exam, congrats! New agents always work under the supervision of an established broker. Real estate brokers offer agents marketing support and legal protection. Interview with at least three different brokerages before settling with one. Some agents prefer big brokerages because they are well-known and it helps with credibility. Others pick smaller firms because they’re more flexible. Start-up expenses Even though you’ll be working under the umbrella of a broker, real estate agents are essentially independent contractors. You will most likely need to pay for your own marketing and business expenses like business cards, sale signs, open house signs and website launch. Consider getting your broker’s approval before creating assets with their logo. It’s their credibility after all and in your best interest to develop a positive, long-lasting relationship. Startup costs can be tough to manage, especially if this is your secondary source of income. Take your time and build the best brand you can. The success of your business is reflective of the time and energy you’re willing to spend to create it. How much can I make once I settled in? This is a commission-based industry which means profit can vary depending on your client list or the price of the properties in your bucket. At first, you may go months without seeing a steady paycheck or if you play your cards well, there’s a chance you’ll be able to see your income ramp up after just three months. The key is thinking long-term and focusing on building lasting relationships. The industry works on referrals, so it might very well be your first few clients that will bring you all the other ones. So focus on maintaining positive relationships amongst new and existing clients. It’s a smaller world than you think. Should I Become a Real Estate Agent Should I Become a Real Estate Agent? Ever thought of being a real estate agent? It may look fun and easy on TV, but there’s lot of hard work and responsibility involved. The relationship between agents and clients is regulated by state laws, which prescribe specific duties agents must fulfill. But real estate a rewarding career that allows you to explore and analyze real estate and help people navigate one of the biggest transactions of their lives. The Pros and Cons Some things could be pros for one person and cons for someone else. It depends on your personality and what you want. The pros of being a real estate agent include: Flexibility: This isn’t your usual 9 to 5 job. You set your own hours and decide how much you need to work to achieve your goals. Variety: Agents wear different hats and juggle different tasks and clients all in one day. Creativity: Designing marketing materials, implementing promotional campaigns, and staging houses can be a lot fun. You get to be creative while earning money. You’re the boss: You’ll draft a business plan, allocate resources, create marketing materials, generate leads, and control the growth of your business. You’ll have control over most of the components of your business. Freedom: As an agent, you get to create your own style, develop your brand, design your marketing plan, and run your business the way you want to. The cons of being a real estate agent include: You’re mostly on your own: Your sponsoring broker will help with advice and office equipment, but basically, you’re running your own small business. That’s a lot of freedom but also a lot of responsibility. Slow start: It may take some time to start making money. You’ll need to have some money saved up when you start. Hard work and irregular hours: You have to hustle to drum up business. While you’re helping your clients, you’re also promoting yourself and prospecting for new clients. Clients and customers often want to talk at odd hours, in the evenings, and on weekends. Open houses are often held on Sunday afternoons. Irregular pay: Your take home pay can vary from month to month. An agent’s income comes from commissions, a percentage on the sales you closed that your share with your sponsoring broker. Good Reasons to Become a Real Estate Agent Real estate agents are super busy simultaneously handling multiple tasks, clients, and properties, so you’d better have good reasons to become an agent. Some might include: You love real estate: You better really like real estate, or else why are you even considering being a real estate agent. You love helping people: An agent is an advocate and counselor for his or her client. You provide expert advice and guide families through a stressful, complicated process involving their home and lots of money. You want to solve problems: There’re many moving parts in a sales transaction, and it’s the agent’s job to handle it smoothly. There will be plenty of opportunities for you to solve problems, marshal resources, and negotiate deals. You love to learn: The real estate industry is always changing with the market and the trends. Since being a real estate agent means providing expert advice, you need to constantly be learning. You’re a great promoter: You’ll need strong salesmanship skills to be a successful agent. Agents handle most of their own advertising, which means selling yourself as a real estate expert, your firm, neighborhoods, your clients’ houses, and your buyer clients’ offers. Bad Reasons to Become a Real Estate Agent There are also some not so good reasons to get into the real estate biz: You want to just work part time: Some agents work part time, but if you want be successful, you have to commit. You want to make a lot of money: Don’t count on making boat loads of money. Some agents in specific markets and specialties may become millionaires, but not the average real estate agent. You want an easy gig: Real estate is not as easy and glamorous as it may seem on TV. There’s a lot of hard work and perseverance required to be successful. If you’ve decided that real estate is the career for you, the first thing you’ll need to do is sign up for a real estate prelicense course. There’s no easier way to do that than with online real estate programs from 360training.com. These courses are so convenient, you can complete them on your schedule, at your pace, whenever you have internet. Take the first step and enroll now!