

How to Become
a Real Estate Agent
Real Estate Agent Career Advice
People decide to become real estate
agents for many reasons. Many like to work with the public. Some
want to be in control of their own schedules. Others are interested
in buying real estate for themselves and think that agents have
access to "the best deals."
No matter what your motivations, take
a little time to become familiar with the realities of being a real
estate agent before you jump in and become licensed.
Planning to Work Part Time?
Consider Another Career
You might be surprised how many
people who are enrolled in real estate pre-licensing schools think
they can be successful agents by working part time. It's possible,
but part time success is not likely.
You should probably consider a
different career if you plan to work real estate when you're in the
mood, for an hour or two a day or week, or only on days you're
scheduled to answer phones at the office.
Successful real estate agents are at
the office every day, just as they would be for any other full time
job. They might come and go as they work with buyer and seller
leads, but their office is their home base, the place where people
who want to buy and sell real estate find them.
You'll Spend Money for Awhile...
Not Make It
Typical real estate agent expenses
include:
- Pre-licensing school costs
- Licensing exam fees
- Required business licensing
- Fees to join a local Multiple
Listing Service (MLS)
- Fees to join a local Board of
Realtors (usually in conjunction with the MLS)
- Ongoing fees for local real estate
boards (quarterly or monthly)
- Expenses of doing business, which
vary depending on the agency you choose, and can include all of
your postage, phone calls, copies, advertising and much more
- A dependable vehicle
- Additional auto insurance to cover
increased liability for business passengers
- Gas expense
- Increased mileage that lowers your
vehicle's value
- Errors and omissions insurance
coverage
- Optional training to learn
effective sales methods or to acquire special certification
Even if you sell a house
immediately, you won't be paid until the transaction
closes--typically 30 to 60 days. And those first sales are often
slow to kick in. New agents in most markets should have enough
extra savings to cover at least six months of living
expenses--more if possible.
Expect Long Hours at First
You will probably work evenings and
weekends. You can make your own hours and you should not
allow clients to control your time--it's as valuable as theirs--but
there will be many occasions when you can only show a home or take a
listing appointment in the evening, or when a weekend is the only
time you can write up an offer. If you're committed to success,
you'll do the work.
If You're Only Interested in
Your Own Deals
Do you want to be a real estate
agent just to work your own transactions? Go ahead and take the
pre-licensing class to learn about your local real estate laws and
customs, but don't actually become licensed just yet.
Real estate agents must disclose
that they are licensed agents. Telling a for sale by owner seller
that you are a real estate agent is sometimes an immediate turnoff.
Deal with them as individuals.
Agents are governed by a state
licensing board and are held to a higher standard of doing business
than unlicensed individuals.
On the plus side, agents do have
early knowledge and complete details about new listings and their
experience gives them valuable insights into the local real estate
market.
It's Not Just Sales
Good real estate agents don't "sell"
real estate. They help people find and acquire properties. There's a
big difference in those two concepts. Being an agent is more like
being a combination detective, counselor, and coordination expert.
- Detective because you have to find
the perfect property...but,
- You won't know what your people
are truly looking for unless you're a good counselor.
- Once you've made the sale, you'll
shift into coordinator mode to get the deal closed.
- And back to counselor if problems
develop along the way.
Approaching a real estate career as
purely a sales job--where you get the contract and then leave them
hanging--just doesn't cut it. Sure, you'll sell some houses, but
will your clients tell their family and friends that you did a great
job for them--or that you simply wanted to make a sale?
Referrals from past clients make a
good real estate agent's income grow each year. It takes hard work
and dedication to get those referrals, so plan to stick with each
job to its completion.
*This article was reprinted from:
http://homebuying.about.com/od/realestatecareers/a/career_advice.htm
**If you have a question or would
just like to know more, please feel free to contact me and I will
respond as time permits.
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