Becoming A Real Estate Professional Is Like
Getting On A Roller Coaster
Yes, becoming a Real Estate professional is like getting on a Roller Coaster. You know there are ups and downs. You know it might be thrilling or frightening! You know where it starts and you know where it ends.
However, you cannot control the variables. (Don't miss video evidence below!)
The thing to do is figure out how to make the ride thrilling by focusing on the right procedures from the beginning. By knowing the rules of the game - so to speak - one may avoid situations that evoke fear and perhaps, even chaos.
What I wish I had known the very first year I was in the business that cost me business was how little the general public knows about how the real estate market functions. That is, what are the roles of the various players?
You have the Listing Agent, the Selling Agent (who is the Buyer's Agent - go figure the terminology!), the Lenders, the Inspectors, the Attorneys and a host of other necessary participants to reach the successful Sale/Purchase.
Here I am - 25 years later - still having to teach who is who and whose job is what at the start of transactions. Except now the group expanded to include the Internet is a "member" of the process also.
Was there ever a time you questioned whether you had made the right choice of being a real estate agent? This is a funny question because almost every week I question whether I made the right decision to become a real estate professional. Ever hear the joke about going into real estate to make your own schedule and not have to work long hours?
What caused me to stick wth Real Estate is the THRILL of the Home Run when it all works out right - happy Seller or happy Buyer. Every transaction is a TEAM effort - REALTOR/Client and the well-respected professional support careers all along the path. That SINGS!!!!
Three things I learned along the way that have positively affected me and helped improve my real estate business are the importance of timeliness, communication and follow-up.
Timeliness: Responding quickly and having answers ready is critical to success. Many real estate "gurus" have statistics they quote about how fast one has to reply. So much for the idea of real estate as a career without long hours!
Communication: Responding quickly and having answers ready isn't actually enough though. One has to know HOW to respond. Brad Andersohn taught us to make the first reply with a polarized question: prefer call, text or email? That generally elicites a response so the data requested may be sent in the format the person can hear. Not much success ahead when a possible Client gets angry for being contacted the "wrong" way.
Follow-up: Keeping the balls in the air is a science in itself. One must continually search for the properties the Clients want and they often change their minds mid-stream. So we start again on the next track. How often do you contact Clients who have been MIA? Delicate balance ther so one doesn't become a PITA as John Meussner would say.
So, what is it that is so appealing about my job?
I love being a Real Estate Broker because I keep learning all the time. One day it's a question about why a building lost FHA approval and another day zoning issues. An endless list of questions that bring new learning!
My advice to someone considering a real estate career?
Yes, consider it for sure after you understand the ups and downs, the lack of control over events every day and the perpetual demands on your time.
Thanks to Nina Hollander for showing me this video.
Roller Coaster image: Page Link. Some rights reserved.
Author: Carol Walker and derivative silhouette by Natasha Sinegina
This work is licensed under a Creative Commons Attribution-Share Alike 4.0 License.