So You’re Starting A Real Estate Career – Here’s What You Need To Know
You may have heard that real estate is an easy field to break into and be successful at. You can work as you choose, make your own hours, and basically be your own boss. Well, if it sounds like that’s too good to be true, that’s because it is.
Real estate is far from an easy business. It takes commitment, and a willingness to work with all sorts of different personalities. Your clients aren’t always going to be friendly and full of gratitude for your help. In fact, they may be downright angry at you at times, just from the stress of trying to buy or sell a home.
Being in real estate takes a financial commitment too. Agents who are just starting out may not realize how much they have to invest in expenses to break even, let alone make money. Waiting on commissions, unless you work with a company that can get you a realtor commission advance, can be an added stress when you’re already trying to sort out everything else about your new business.
This business isn’t for everyone. But if you’re truly interested, there are several steps you can take to help you become a successful new real estate agent.
Work on Communication
That perfect house or apartment your client is looking for could be snapped up in seconds. You have to be available to answer phone calls and emails as quickly as possible. Communication is key in this field.
But, don’t be afraid to go “old school” too. Tanya Dzhibrailova, an agent at Zephyr Real Estate, says she sends market updates, just-listed or just-sold cards, and even birthday and holiday cards to past clients.
Going that extra mile can lead to a real return on investment.
Develop An Effective Business Plan
This may seem like a no-brainer: develop a plan for your business, and stick with it. But do you really know everything that a business plan should include? Have you planned for setbacks or unexpected expenses? Do a little research, and make sure your business plan is everything it should be, and then some.
Flawless Finances and Realtor Commission Advances
Develop a budget that includes literally everything you need to consider for finances, and follow it. No. Excuses. If you find you’re having trouble making ends meet while waiting on your commission from a sale, consider realtor commission advances, which will allow you to have cash available for expenses before the closing date. Larry Weltman, a Customer Service Representative at AccessEasyFunds, says that realtor commission advances are an effective tool to helping real estate agents continue to grow their business without having to wait on closing date commissions. Emphasizing his point, Larry Weltman also adds that realtor commission advances can be particularly helpful for new real estate agents just starting out.
Neighborhood and Network
The best real estate agents know the neighborhoods they’re working with inside and out, and network with lenders, contractors, and other partners in their area to get the best results. It takes a village, and a top-notch real estate agents knows every single aspect of that village, and how to connect to anyone who may help them or their clients.
Real estate is not a good fit for every person. But if you commit to your work, and follow these steps, you have a great shot at being successful as a real estate agent striking out on your own. Oh, and don’t forget to light that scented candle before an open house — buyers love that “fresh baked cookies” effect.