Been in real estate for a little over 5 years, and I am finally getting comfortable in my own "real estate skin". Luckily, what once began as a sudden career change, has turned into something I love doing. I taught middle school for 13 very long years. ( God bless the teachers!) AFter so many years of teaching, it is very difficult to make that transition into another career. Sales was hardly an option since it meant that I would be starting at entry level positions. I always wanted to go into real estate, but fear got the best of me. After I married, and my income was not needed so much, I decided to take the plunge. What a ride it has been ever since. My roots in real estate began because of our desire to become investors. I learned all I could about short sales, and I decided I would focus on that niche. Now, I am liking the luxury market, and I will focus on building my career in that niche. That is what I love about this industry, the possibilities are endless, and the rewards are great!
What advice would I give to a new realtor?
1. Begin your career in a top notch brokerage house. Learn from the best. Interview brokers and find one that is willing to work with you to make you a superstar. Make sure he/she offers training. Find a mentor. I can't stress this enough. Real Estate is tough, cutthroat, full of legalities, and you want your broker to support you 100%!
2. Find a niche. You can not be good at all things, so be good at something. Find something you can be an expert in.... a neighborhood, a lifestyle, a price range, an age group... Find something you are passionate about and focus your energy on that.
3. Stay focused. Use your sphere of influence and let everyone you meet know you are a realtor. THis was particularly hard for me because I did not like feeling like people were using me or trying to sell me. Still, don't be a "secret agent". I try to be a bit less obvious, and I find ways to work it into conversation. ie. I go to gym with my Realtor mags or I post updates on my facebook and linked in pages every now and then about real estate. Nothing too over the top.
4. Stay the course. Unless you are blessed with a strong sphere of influence, you will struggle immensely the first few years. I know that if it weren't for my husband's income, I would not have made it. I would have been forced to quit, like 90% of first year realtors do. Never, ever quit. If you are going to make a move into real estate, I recommend not quitting your day job. It is hard to make a good living in the beginning.
5. As hard as it is, always use buyers rep agreements. I know it is hard to ask someone to sign this doc, but do it everytime. I still struggle with it sometimes today. Never assume that if you are working with friends or family that they won't cut you out of a deal that you have worked hard to create.
6. Expect to constantly be working, and sometimes for nothing. You are on call 24/7. In the beginning, you have to be. Now, I don't do hurdles over couches to answer my phone. But, at first, if my phone rang, it was going to get answered because you never knew when a lead would call. So, be sure and make time for yourself. My answering machine may say... " I will be returning calls today from 4-7. Leave a message please".
7. Set up an organizational system. I use green folders for my clients. (money) The files on my computer are listed by Address. I keep all docs relevant to the sale in the respective folder. CLient's emails are all in organized folders as well. Keep track of all your clients. Send Birthday, Christmas, etc...cards. Use a system that works for you.
8. Network, network, network! This is a relationship business. The more people you know, the more money you will make. Learn, learn, learn! Stay abreast of real estate trends and information.
9. When you have a client, do more than what is expected before, during, and after the sale. Keep up with each client. Make sure they are completely satisfied.
10. Remember: Tough times don't last, tough people do! And....Don't forget to Smile. Be nice to everyone you come in contact with. You never know who can refer you~
If you are truly passionate about this industry, stick with it. It is much harder than you realize. Once you get a few sales under your belt, you will begin to build your business. Referrals are awesome and it makes all your hard work so much sweeter. Good luck to you.
Comments(9)