A career as a real estate agent can be exciting and lucrative. The success or failure of your real estate career depends upon how motivated, hardworking, persistent and professional you are. To succeed you must be a good communicator and listener, be able to create and work from a plan, and be good at setting goals. Since you will mostly be on your own, with no boss to report to and no one else to motivate you, you must have some entrepreneurial skills.
If you are thinking of a career in real estate or are already starting out as a real estate agent, then here are some career tips from AEF that you can use to guide you:
- Real Estate is a Fulltime Career: You may know a few people who sell real estate part time. However, to be truly successful, you need to make it your fulltime career because it requires fulltime commitment. In today’s fast paced and highly competitive market, you have to be on your toes at all times; otherwise your clients may ditch you for a more responsive agent.
- You Must Have Enough Savings to Last A Few Months: A real state career is not a job, it is a business. You provide a service to your client and they pay you a fee or commission. But you will receive your commission only after the deal is closed, which can take up to 120 days or even more. Therefore, you must have enough savings to last at least a few months at all times. If you have a cash flow issue you should consider real estate commission advance, whereby a company such as AccessEasyFunds purchases your commission and advances before closing for a fee.
- You Need Money to Sell Real Estate: If you think selling other people’s properties costs you nothing, then think again. You have to pay your broker, advertise the property, maintain a web presence, send out flyers, make phone calls to existing and potential clients and visit properties scattered around your area. You will also want to put some back into your company for lead generation. All of these cost money and that money comes from your own pocket up front.
- You Should Give Top Priority to Lead Generation: If you want to be successful and have a lasting career in real estate, then your top priority should be lead generation. You will not be able to make any sale without generating good leads. You have to network with other real estate agents and have an excellent rapport with them. You must also maintain a good personal relationship with your clients. In this business, goodwill goes a long way in ensuring your success.
With so much competition from established and new real estate agents, it is not easy to make a foothold in the industry. But this doesn’t mean that you can’t succeed. If you like interacting with people, have good communication skills and do not mind working hard, then you can become a real estate success story.