There are a lot of things they don't tell you in real estate school. In fact outside of how to pass your real estate test there isn't much you know about starting and building your own business. It looks easy on TV, show three houses, write an offer, go to closing and collect a check.
Fortunately I started my career with a brokerage that had a solid training program for new agents so I learned the mechanics of how to write a good contract right off the bat. What I didn't know was how I was going to make my phone ring know that I knew how to fill out a contract.
Here are ten things I wish I had known then that I know now
- A business plan is essential, without one you have no where you are going.
- Vendors are relentless.
- Marketing is just as much about marketing "me" as it is about the company I work for.
- Identifying my niche market and working it till my fingers were bare to the bone.
- Understanding that every client isn't a match and the word NO can save a lot of time.
- Having a reliable database and using it consistently is a must.
- Quarterly taxes must be paid or Uncle Sam takes even more of your hard earned money.
- Even though we are all in the same business we don't all play by the same rules.
- It's okay to say I don't know and ask for help
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And finally knowing how important it is to take time off so you don't burn out.
I often wonder if real estate classes also taught practical business applications if our industry would have a better reputation with the public. Who knows but I do know that in the last 15 years I've seen a business that is constantly evolving. The more I learn the more I need to learn.
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