If you have ever considered becoming a professional real estate agent then there are a few things you will need to know. If you educate yourself about the industry you will be able to determine if this is the right career move for you.
A lot of people want to become a real estate agent because they think it’s easy money and not much to work. Nothing could be further from the truth. If this is the way you view a career in real estate you need to sit down and familiarize yourself with the industry. Feel free to ask others already in the business. This is a great place to start to find out more about becoming a real estate agent.
The fact is that while working in real estate can be really lucrative, the chances are slim when you’re new to the industry. Unless of course, you are selling multi-million dollar homes on a regular basis. You need to be realistic about choosing a career in real estate.
Becoming a real estate agent means becoming licensed to do it. You have to go to school to become an agent. Although it may from state to state you will be required to spend about 30-90 hours in the classroom. After you finish the coursework you will then have to take a test to become licensed. Some individuals choose to take the cram for the exam which is a crash course on the classwork you would be learning to prepare you to take the test early.
I do not recommend this route. You will also be required to renew your license usually every one to two years again depending on the state you reside in. As the industry continues to change you may also need to take continuing education courses to keep up with the laws and regulations required by your state.
You need to be a people person. When I say this I am not just talking about being able to make your customers happy. You will be dealing with a wide group of individuals. From people in the industry to others. You will be working with other real estate agents, lending officers, banks, mortgage brokers, attorneys, title companies, insurance companies, and county land-use officials just to name a few. So as you can see you need to be able to work with a very diverse group of people and adjust your people skills accordingly.
Although there is some flexibility working as a real estate agent you need to keep in mind that you are basically on call twenty-four hours a day. When your customers need you then you will need to be available. That means working nights and weekends. Your job is to sell and that means you need to work hard for your clients whenever they call on you.
If you are considering becoming a real estate agent you need to consider if it will be your only source of income. If you are starting out in the industry I recommend doing it as a second career until it takes off for you. Since being a real estate agent means your income is paid through commissions only. Most new agents sell around four homes a year.
That is not going to add up to a lot of income to rely solely upon for supporting yourself or your family. It takes a long time to build up a clientele and to make the big bucks. Your income will also be determined by how the market is performing in your area. Real estate sales fluctuate throughout the year. Spring and Summer tend to be good times during the year for home sales. Fall and Winter tend to be a little slower as people tend to want to be settled for that time of the year along with all the holidays.
The good news is that real estate companies are always looking for new agents. This is because there is a high turnover rate among new agents. People find out that it is not as easy as they thought it would be or simply cannot make enough money to live on. So if you pass your exam then you should have no problem finding a job. Of course, you will still have to go through the interview process as well.
Remember it takes time to build up a clientele. Develop your caste in society as much as possible. Make sure your friends and family know that you are an agent. It may help build your client list and they may be able to refer new business to you. Make sure to listen to your customers.
If you make the transaction smooth and as easy as possible then you will likely gain more new business as well. Be patient and take the time to learn about the communities you will be working in. Learn about the different types of homes available and the features that are most popular among home buyers. If you take the time to educate yourself you will have a better chance of succeeding in the industry.