While I was going through real estate school I had learned so much that it was nearly overwhelming. However, I did enjoy it and felt that I was well equipped to start my new career. Of course all of the local real estate companies are recruiting you and now it is up to you to choose the one that will be the best fit. I began my career with a fairly large and highly reputable company. This particular company did loads of transactions per year, had most of the top agents in the area, and were up-to-date with technology.
So, off I go to work I go armed with a plethora of knowledge, a new interior car mounted cell phone, and dressed to impress. It took a while to get acclimated to a whole new way of life - strictly commission! We would have our every Tuesday morning meeting, discuss all of the great things that the seasoned agents were doing, and then go on a caravan tour of our listed homes. Throughout the week I was learning the ropes from my mentor whom I thought (and still do) was one of the best in the business. Part of my training was simply doing cold calls. For those who have never had to do it, trust me, you don't want to do it. Ninety nine percent of the time, it could ruin your day if you let it. All along I was trying to gain business from friends, neighbors, church members, etc. Next I had to learn the art of "getting to know you" with total strangers. I remember my first transaction was a lead that was given to me by my Broker-in-charge - and I was scared to death. Why? Well, real estate school is sort of like learning to play basketball. You are taught the fundamentals early on and practice, practice, practice. However, when it's game time, it is a whole different situation. You never know all the answers. Well, I finally got the paperwork finished and all of the inspections, appraisal, lending, etc. completed. We had the closing and I was so excited to finally get paid. My first paycheck - WOW! I cherished that moment for a long time.....because it took a while before my next one came to fruition. This leads me to the climax of the story.
Real estate school does give you everything you need to pass the state exam. However, most agents and most real estate schools will tell you that the education and the actual experiences are two totally different ballgames. What you "usually" will not learn in the school is that you must have one or both of these; (a) some other steady income source or (b) have enough savings that will pay your bills for 6-9 months.
I learned the hard way. I didn't have the steady source of income or enough savings. Hopefully there are some real estate schools out there that are teaching "all" of the fundamentals - and I'm sure there are.
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