I remember before I got licensed, exploring the world of a Real Estate agent mostly in my mind. We do this with all subjects: The dream world and the world of reality often (if not always) clash. Travel brochures & vacations demonstrate the point very well as they both are thought of one way until the actual experience kicks in.
WHAT IS IT LIKE TO BE AN AGENT
Here is a list of that dream world of the Real Estate agent to someone who knows nothing about it or worse yet... thinks they do without ever having visited or engaged with it. Here is the dream:
1. Riches without effort! Homes sell for hundreds of thousands of dollars and when they do, an agent gets a giant chunk of it. After all, Real Estate needs an agent to sell or buy
2. A new car and new clothes comes with the career and is easily paid for with one transaction
3. The glamor of walking around as a success icon and living the life.
4. Based on what I have seen how hard could it be? I mean some really strange people are doing it
5. Of course I will be in demand and so busy that I will just hire an assistant or turn away business
6. No knowledge or awareness of any challenges or failures. Why? Look at all the neighborhoods with homes being bought and sold constantly.
7. Most if not all unlicensed people don't know how or even want to get a license. Why haven't I thought of this before?
8. All I have to do after I get licensed is to just tell everyone: Hey, I am licensed look no further
9. I can charge people whatever I want if I can get away with it. After all, I am licensed to do so
10. Family, friends, neighbors will all flock to me. I'll make a fortune from them alone
11. All you need is a license. Get the license. Get it!
COME DOWN TO EARTH
I am sure you get the gist of it by now and there are so many other delusions of grandeur I am not mentioning but the point is made. It is interesting to know that licensed attorneys, doctors & CPA's go through the same dream process. We hope for the best but don't prepare for the worse
HOW BAD DO YOU WANT IT
Should one achieve what it takes to get a license in any field, how bad they want the career is presented with no respector of persons and with a blunt reality that sobers. In plain talk, a type of weeding process begins where those that want it...get it and those that don't...won't!
THE GREEN AGENT
In the world of a newly licensed agent who is full of innocense, naievte and high hopes, the expectation is fuled by dreams but these dreams have legs on them. That's more than dreams that are legless. Success is imminent! I am doing what I am told. Everyone else is succeeding. I will too
SIGN POST UP AHEAD
Here is where we are introduced to some really important dynamics that many are introduced to for the first time. They may have heard about it but now they are living it or about to.
Perserverance: Will you do what it takes until you have what you want?
Responsibility: The ability to go the distance by responding correctly and to do what is necessary
Economic reality: The world of dollars and cents, expenses and the rules of math that it takes
Patience: It is not just another pretty word. Wait until you come across situations that require it
Customer Service: It is not about just doing what it takes to bring about a result. In Real Estate, which is an emotionally driven industry, people want to be catered to, served and tolerated
Paperwork: Small print, rules & regs, laws all present themselves.
Human nature: How well do you know yourself? Others? You are about to find out this & more
SHARK SIGHTINGS
My first impression after being licensed was how cuthroat this business was/is as agents eat agents & customers need to be won over plus you need to know what you are talking about. The client assumes an agent knows all things until they know that they don't. You need to know this
IN THE TRENCHES
The first time someone asks you something you don't know, how you handle it will teach you a very valuable lesson on what to do and what not to do. You cannot wing-it, guess or double-talk and if you do & you get away with it, you are on your way to being litigation food. Lawsuit snack
PROFIT MARGIN
The first so many months tell your story quite well. Should you dabble in this Real Estate field or make a go of it full time will be presented. It is inevitable and many have crossed before you. Assuming you go on & not just for fun, you will establish a mindset of return on your time/efforts
THE GOING RATES
When you reach this stage, you will charge what the going rates are and when someone tries to negotiate that down, you will be introduced to resentment, arguments, judgements and depending on you, your greed or un-worthy-ness. The fact is this is a competitive business. Can you compete?
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