Author: Patricia Feager, REALTOR®
DFW FINE PROPERTIES
Advice I wish I knew before getting into the business of Real Estate all centers around honesty. The bottom line is, if you are in Corporate America or employed by someone else, it's a rude awakening to discover, if you don't have any other business, you wake up every day unemployed.
WHAT I WISH I KNEW THE FIRST YEAR
I wish I knew how hard it is to be self-employed. If you had no experience or worked for an Employer it's very unstable. What it costs to stay in business is very expensive to live without other income. Second, I wish I knew that when I got my first commission check, I wasn't going to get all the money I thought I was when the sale was negotiated, plus you're the last one to get paid. In my first year, I hung my license with a Franchise. I lost business and income because I wasn't prepared. In other words, I was a small fish in an ocean of sharks.
WAS THERE A TIME WHEN I QUESTIONED MY DECISION?
I began to wonder if I was in the right profession in 2005 when foreclosures were becoming very common. As a single person, I was worried about how I was going to pay my bills and pay my own mortgage. I thought I could easily transition to become a Paralegal and work for a Law Firm in the Real Estate Industry. I did graduate in 2006 as a Paralegal and three things happened.
- I graduated as a Paralegal but couldn't get hired at a Law Firm. I was told it was because 1) I wasn't bilingual; 2) Attorneys could get an Intern like me in their last semester for free and they weren't hiring.
2005 and 2006 was my best years ever in Real Estate.
Disappointed? You bet!!! But all was not lost. I learned a lot by graduating as a Paralegal and it changed the way I did research and worked with others. Most important of all, I met so many people living through hardships who lost their homes. Therefore, I decided, Real Estate was my calling. The true blessing were, 1) I didn't lose my home, 2) I didn't go broke; 3) I became a better person.
3 Things I Learned that Had a Positive Effect on my Business
1) Built better relationships and better ways to communicate by becoming a better listener, especially when it comes to other people's money, their home, and livelihood.
2) Learned that I can have empathy without agreeing to work for free. It all begins with self-respect.
3) Found new ways to negotiate and disagree without conflict and still get results.
The reality is, the Real Estate business is hard work. There's no guaranteed income. You positively have to pay on-going fees to keep your license, continuously need the tools to do business, and whether you have business or not, you better have a way to have transportation, pay your own bills, and stay afloat until your next check.
And that's a wrap... When one door closes, another door opens but you never know when, how, who, or how come? --- Patricia Feager