Are you just starting out in Real Estate?
Here is a list of items and important things you need to know before you get going.
Whether you are planning to work part time or full time, or whomever you decide to work for, you need to have an arsenal of tools in today's Real Estate World.
There is a book, Your first year in Real Estate, making the transistion... that you should all read.
Another good starter book is "21 things I wish my broker had told me"
And of course, the highly rated Millionaire Real Estate Agent. (Whether or not you work for Keller Williams, this is still a great read. "It's not about the money, it's about being the best that you can be!"
As you get going, I would also suggest the E-Myth and all the subsequent E-Myth Books.
As mentioned below by Stacie Colclasure, Jennifer Alans Selling with Soul, an excellent book!
Finally, any of these books or CD's on the Art of Negotiating. I still keep mine in my car to listen to and remind myself.
The above books will get you started on your road to knowledge in Real Estate. There are zillions of other books, but so as not to get information overload, just stick with a few.
Next, you will need most of the following:
- Laptop (preferably with wireless capabilities)
- Good cell phone (preferably with internet access)
- Signs for listings and riders (with your cell phone number)
- Be a member of all Real Estate Associations in your area
- An office (or comfortable place where you can easily manage your business)
- Good printer, scanner, fax and copy machine
- Folders (for buyers, for sellers)
- A good planning system. You can start with what works for you. (as you get rolling you may want to look into different software that you can use) Meanwhile, you are on a shoestring.
- Business Cards (These are a must. I recommend Prints Made Easy, they are reasonable, fast and you can design your own if you like. You can also save your artwork for when you want postcards and letterhead, etc.
- Calculator (and no need for a Real Estate Calculator, see Karen Rice's comment)
- Filing cabinets
- Password software
- Blogging platform (we will discuss this in a later post)
- SOI (Sphere of influence) Neatly typed somewhere...Outlook, Excel Database, anywhere you can easily access it to contact all your friends, family, clients, doctors, lawyers, paper person, landscaper, any one who you come in contact with.
- Digital camera, flashlight and hammer (see Monika McGuillicuddy's comment)
- 50-foot tape measure (see Margaret Woda's comment) (although may be non essential)
- Mace or pepper spray (see Donna Yates comment) Very essential!!!!
- Lastly, but most importantly. You will need a minimum of six months income set aside if you are starting Full Time. (This will also be discussed in a future blog)
These are the basic startup essentials. Feel free to leave ideas and I will incorporate them into this post or a future post.
All content in this post is the property of Karen Hurst of Stonehurst Realty and will be incorporated in the Real Estate Rookie Book, The New Real Estate Agent.
Opinions are of Karen Hurst, Broker/Owner of Stonehurst Realty only. For a free consultation, visit me at Stonehurstrealty.com and find out if this is your time to buy or sell!
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119 Comments on The new Real Estate Agent
Kay, Make sure you sign up for the classes:) Just don't expect to learn how to be a Realtor from those classes:) Good luck.
I hope all new agents stop by here. These are fantastic points. I think you are going to do well. Good luck, and God Bless.
Thankyou Chris for stopping by and reading:) I believe that new Agents can't get enough help, or maybe it's just my own perspective, so the more information the better new Agents will become!
I would add to the list of books to read "How to list and Sell Real Estate by Danielle Kennedy. That is a very good book. I need to re-read that book again to gain some fresh tips. Great post.
Lanre, Thanks for the add, it sounds like a basic RE book, I'll be checking it out!
Hi Karen - As a new agent, I loved the list, esp. the book list. Hard to find the time but I really need to read these books. Of course, I know in the end that it will save me significant time (and money and aggravation, lol.) Lot of good pointers in the comments too!
Great tips. What about a book on time management? That seems to be critical, although some of your tips relate to it.
I must make it look easy because I have a lot of people that want to talk to me about selling real estate. This is the first thing I tell them....
Make a list of 100 people you know...I think having a sphere that will refer or use you is imperative in this business.
I would add to the list of books "Real Estate Business for Dummies." It really outlines everything you need to know in an informative, readable way with a few giggles added in for fun.
I would also add a contact management system. Once names, phone numbers and email addresses start rolling in, it can get pretty confusing if you don't have a way to keep track of everybody. Be sure to include notes as to where the contact came from, what they are looking for or have to sell, and their price range. A note to yourself describing a quirk or reference that will help you remember exactly who this person is is helpful, too. Something such as, "Daughter is a marine biologist," "Wears red glasses," or "Works for Disney Studios."
Finally, keep a spiral-bound notebook to jot down quick notes while on the phone or speaking with someone in person. I used to write phone numbers, etc. on scraps of paper and then wonder where they went. Very inefficient. Your notebook will become invaluable to you as a handy reference. Some notes you will transfer to a more easily accessible, permanent format at some point, but at least you'll know where to find them!
Margaret, Thankyou for your thoughts and sorry for the late response.
Kevin, I think that's a very important point. Good time management is essential, especially once you get on Active Rain:)
Cindy in Indy:) (I like that, very catchy) I am guessing you mean your own soi? Or do you actually have your friends give you a list of 100 people?
Dianne, I have that book! Also I used to use a notebook because one of the teachers in my RE classes said it was imperative to record every phone call and every conversation! That was fine when I first started, but after awhile, who has the time? I like the idea of noting the addresses and phone numbers though!
Karen, very good advice! I am a newbie and finding out the reality of the business. But I still love it!
Thanks for sharing great blog. This are really some great tips and great books!!
Andy Laughlin
Connect Realty
Lourdes, Being a newbie is probably a good thing in this current market! You don't have the "highs" to compare it to.
Andy, thankyou:)
Great Post, and fabulous comments. I would like to add, a thick skin. When you're new to the business everything gets thrown at you, so put on your filter and keep what you like.
Love the comment about the Toilet Paper, a colleague of mine won over first time home buyers because he had a diaper in his glove compartment. LOL
Katie, A diaper?? hmmn, there's one I never thought of. And since I wrote this, I have to add a blackberry or something similar. I use the tmobile wing and cannot imagine how I existed without it!
Karen, I have been seriously considering getting my Real Estate License to go along with my Staging, Redesign & color business. I thought they would all go together so well! I even put out a blog Get my Real Estate license...am I crazy?? After reading this it's makes me a little gun shy!!!
JoLynn, I just commented on your blog. Don't be gun shy. If it's something you want to do, you will find a way to do it.
Karen, Thank you for commenting on my blog! If no one else has mentioned it I would add a navigator to your list (the kind that talks!)
Great Post. Sorry I didn't have something like this when I first started in Real Estate. I have to say that the most important thing that you need is at six months of salary to fall back on. Also, the sense of humor doesn't hurt either.
Very thoughtful of you to come up with this post--Linda
JoLynn, You mean a GPS? Yes, very important. I have gone through a lot of maps and they are all ripped! It's so nice to just listen to "turn left" or my favorite "recalculating":) Hope you are going for it btw:)
Hi Linda, I wish I had something like this also. In fact I am incorporating it into a small book.