Making $$$ in Real Estate

By
Real Estate Agent with Keller Williams Realty- North Shore

 Nbo, it's not 2:00 in the morning and I don't have a book or any software to sell you that will take you from your dorm room to an ocean front estate in three weeks. I will however tell you that if you are looking to make a career change or nearing the end of your college days and don't have a clear path to employment, real estate could be something to look into.

With all of the negative press and foreclosures going on, why would I want to get into this business now??

Successful Realtors pay more attention to the big picture and not what the press pounds into your head every day. If your systems are in place and you continue to grow your client list, you will be successful in any market.

Regardless of if you start your career in a "hot" market or a "down" market, you are going to need time to get things moving.  Learning the business, networking and generating leads will take up a good amount of your time as you get under way.

Learning the business: This is obviously the first thing you need to do. If you become the first agent in the world to have 4 people call you the day you get your license, you had better have the answers to their questions or you have lost the confidence of four potential clients and their future business. This will take some time and will be enhanced by using the second key to this business.

Networking: This is something that you may want to start before/during your licensing process. Having a network of professionals to turn to when you or your client have a question will be critical to establishing credibility with your clients. Not knowing an answer is not a bad thing, not taking the time to get the right answer will cost you business.  You can also establish a reciprocal referral base with these professionals by giving them the opportunity to work with your clients.

Generating Leads: There are two types of leads. those that come from people you know and those that come from  your various marketing strategies.  While no lead is guaranteed business, one that comes in the form of a referal is usually a better bet than one that doesn't. Having a steady balance will assure steady business and help keep the cash flow constant. Getting referrals comes from doing a great job, getting cold leads to turn into future referrals is another trick.

This business is not for everyone. If you are disiplined and run it like a business, you can make a great living for years to come. If you think you are going to get your license, show some houses and make a fortune you should stay up late tonight and call the number on the informercial.

 

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Rainmaker
1,402,603
Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

Mike, it's true that we do have new agents flocking to the business, at least in our area!

Aug 28, 2011 06:57 AM #1
Rainmaker
647,193
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

Great advice Mike!  Real Estate can be a great career for someone that is disciplined regardless of the current market conditions.

Aug 28, 2011 06:57 AM #2
Rainer
366,437
John Michailidis
Real Property Management of Sarasota & Manatee - Sarasota, FL
Real Property Management of Sarasota & M

An interesting blog post that I enjoyed reading! Thank you for sharing!

Aug 28, 2011 07:11 AM #3
Rainer
110,353
Howard Weiss
Fathom Realty - Arlington, TX
Arlington & DFW, TX

Mike, I'm just getting into real estate myself and I couldn't be anymore motivated to work hard and be persistent.  I know nothing worth having comes easy so I'm ready to make the most of this new opportunity.

Aug 28, 2011 10:27 AM #4
Rainmaker
98,076
Mike Giles
Keller Williams Realty- North Shore - Beverly, MA

Thanks for the positive comments, everyone! Best of luck Greg, ActiveRain is a great source for learning the ins and outs.  Embrace the technology!!!

Aug 28, 2011 10:36 AM #5
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Rainmaker
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Mike Giles

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