Becoming a real estate agent is an interesting and thrilling career choice. Although there is no set path for becoming a real estate agent, practically every wannabe agent’s experience will include some of the same tasks, expenses, achievements, and factors. According to Joseph Haymore, if you are highly motivated and have a talent for sales and building strong client relationships, helping people find a new home could be your calling. In this article, we will give you some context on the steps associated with being a realtor.
Is a Career as a Real Estate Agent the Best Fit for You?
Being a licensed real estate salesperson sounds great for many – flexible hours, good earning potential, and a relatively quick journey to becoming an agent. But before you jump in, know that success in real estate can be a bit tricky. It depends on how the local economy is doing, your understanding of the market, and how open you are to connecting with people.
Take a good look at the pros and cons. While the idea of earning lots of money is exciting, tough times in the housing market might mean you’ll need some extra funds to fall back on. Being successful in this job also means being ready to become a market expert – helping clients find the perfect neighbourhood, negotiating sales, or deciding if it’s the right time to sell. It’s a journey worth considering, but it comes with its own set of challenges and rewards.
Qualifications to Become a Realtor
The requirements for becoming a real estate agent differ from state to state, but the following is a general overview of what you should expect to need:
- Pre-licensing education
- State approval to take the licensing exam
- Real estate license
- Sponsoring broker
- Membership in the National Association of Realtors
How Long Does it Take?
The requirements to become a real estate agent vary based on location and time commitment. Typically, it involves 60 to 90 hours of formal education, plus exam preparation. If you can dedicate all your time, it might take three to six months. After obtaining your license, finding a broker—required for the first two to three years—adds another variable. Part-time jobs may take longer, and the choice of brokerage and additional training contribute to an overall timeline of 1 to 3 years.
Costs of Pursuing a Real Estate Career
Starting a career in real estate comes with costs that vary by location and education course. Generally, expect to spend $500 to $1,200 covering education, licence application, fingerprinting, and exam fees. However, it’s crucial to have savings since, especially on commission-based brokerages, you may need financial support until your first deal. Planning for six months to a year of savings is wise. Alternatively, consider brokerages offering a salary or explore side gigs until your real estate income stabilises.
Simple Steps to Shine as a Realtor
After obtaining your real estate license, how can one become a successful agent as opposed to just an agent? Let’s break it down into four simple steps that can make a huge difference in your real estate career.
1. Know Your Properties Inside and Out
Joseph Haymore advises taking the time to learn about a property‘s past before visiting. Knowing the backstory of the house is just as important as knowing the numbers and facts. Successful agents set themselves apart by being knowledgeable and showing their clients that they’re not just selling a house; they’re selling a unique story. So, research the neighborhood, property values, and school districts.
2. Be a People Person and a Great Communicator
The most successful agents are the ones who can connect with their clients on a personal level. According to experienced agents, communication is the key to forming strong relationships. Good communication builds trust, and in this business, trust is everything. Take the time to meet people face-to-face, have meaningful conversations that go beyond just real estate, and listen more than you talk. As the saying goes, “People don’t care how much you know until they know how much you care.” So, listen twice as much as you speak.
3. Remember Your Passion for Real Estate
There will be times when the market is slow, and you might not see the earnings you desire. This is where your passion for real estate becomes your driving force. Successful agents often stress the importance of having savings to fall back on during lean times. But beyond that, it’s your passion that will keep you going when things get tough. Take a moment to reflect on why you chose a career in real estate. What is your ‘big why’? Understanding this will pull you through the highs and lows of building your business.
4. Embrace Technology and Stay Updated
In today’s world, technology is your ally. Successful real estate agents know how to leverage technology to make it easy for clients to connect with them. Stay updated on the communication methods your clients prefer. Whether it’s text updates, emails, or phone calls, adapt to their preferences. Consider investing in a Customer Relationship Management (CRM) platform to organize your contacts, create efficient strategies, and enhance your online presence. Explore how SMS messaging can help you manage automated text messages for timely communication.
Wrapping Up
In summary, being a real estate agent is doable with the right approach. Be a good communicator, stay passionate, and choose a supportive brokerage. Embrace technology for efficient communication. Joseph Haymore concluded that the key to success in real estate is to constantly learn and adjust to market trends. Whether you’re starting or experienced, these simple steps pave the way for a thriving career. Best of luck on your journey in the real estate world!