A real estate career is one that attracts a lot of following all over the world and for good reason. When done right, it is a rewarding path with many perks that rival even the most coveted positions in the corporate setting.
A successful career in real estate gives you the flexibility to work almost anywhere, at any hour that you want. And of course, there is an attractive amount of money to earn. It is, however, a dangerous misconception that successful real estate professionals make their money with minimal effort or from practically doing nothing.
Being successful in anything always involves sound strategy and hard work, and real estate is no different in this regard. Make no mistake, because real estate is more work than you may be expecting. The work is hard like other jobs, but the rewards are greater compared to what you can get from any ordinary job. Below, we will talk about the very first steps and answer the question: “how to start your real estate career?”
The end result
Talking about this at the start may seem odd, but it is actually one of the best ways to start when evaluating and making a solid decision to step into this new career. For many, the income potential of a real estate career is enough, but what exactly are the figures? First up, real estate is a commission-only business and that alone should give you a pause. However, you must also consider that some successful agents make millions per year. The very fact that it is commission-based earmarks it as having no limits to its earning potential.
An example of the work cut out for you would be to earn $60,000 a year, you would need to sell at least one $300k-worth house every month. Taking a look at how much you can earn, plus the success it will bring if you can pull it off, helps a lot in making that final decision.
Take a good stock of your resources
It can be intimidating, to say the least, for a new real estate agent to make it work especially if you have children or other jobs to take care of. This is why it’s important that you ease into the business rather than jumping straight into it. Take a good look at where your time and resources stand at the moment. Ask yourself whether or not you can afford the financial burden of having yourself licensed before jumping on board.
To be successful in your real estate career, it is important to invest in learning skills related to it so you can become a licensed agent. And the good thing is, there are many ways you can do to make it possible. Unlike before, you can now enroll online and join in realtor classes. The good news is that they cost significantly less than they used to. Do this before taking on the test, because these licensure examinations are not on the cheap side.
As a part of your resources, take a look from within. See if working and being with people at most times is in your heart. You must have that innate love of houses and being with people because that is what you are gonna be doing as a realtor. Part of this is to prepare yourself for odd times and having to work on weekends because these are when people are free to look at properties. This is a good time to reflect if you can afford a sitter, or have the support of the family if you need someone to watch the kids while you are on the job.
Networking is key
When you make the decision and have gotten the basics out of the way, such as the licensing, it is now time to work and invest in people to assist you. These include your broker and a network of diligent agents that you will need to cultivate good relationships with, in order to extensively widen your reach.
You can always choose between a brokerage with a corporate setup, just to help establish your brand and street credibility so to speak. At the same time, you also have the option to work with those brokers that can give you the freedom with how you manage your time.
To sum it up
Remember when we talked about easing into the business rather than barging straight in? This is one of the best parts of being a real estate broker because you can start doing the business as a part-time gig. This way, you can actually add to your current income while learning the ropes and not breaking the bank in the process. This is also great for creating your client base from all the people you know of while working on your new undertaking.
Hope this helps to jumpstart your real estate career! Comment down below if real estate is also your passion and why do you want to pursue this kind of career.