Becoming a real estate agent can be an alluring prospect. It can be rewarding helping people find their new home or sell their existing home. You can work at your pace and makeup to six figures in a year.
At least, those are some of the ideas many people have when venturing away from a 9 to 5 life into the freer world of real estate. There are some serious things to consider, however, before becoming a Realtor.
As with any business, there is a cost to doing it. This is no different for the Realtor. There are licensing fees, Realtor dues, and of course, desk fees with the broker’s office. Some brokers charge for copies, documents, and E & O insurance.
Full Time or Part Time
While it can be very enticing to be able to work on your schedule, you may want to avoid choosing the full-time route at first. It can take a while to build up the savvy and the clients to start getting sales and commissions. If you are not experienced in real estate, consider breaking into the field on a part-time basis. Many part time realtors want to increase their time. More competitive markets such as West loop apartments Chicago, make it a little more difficult. Check this example out for a comparison.
If you have had some experience with real estate or property transactions, and you have the ability financially to wait before that first commission check arrives, choose the full time. Still, you must rise to the task. When a client calls at 7 am on a Sunday morning to ask you to take them on showings, you must be ready, willing and able to do so.
Go With a Top Broker
It is vital that you choose a good broker with which to “hang” your license. Look for one that has the best services possible including in-house financing and insurance. They should have a comprehensive training program where you will get all the essential tips and knowledge to get a good start.
You should have the ability to confer and consult with veteran agents so that you can learn from them and profit and they can profit from helping you learn, thereby benefitting the entire company.
Treat it Like a Job
Although the training will be an enjoyable, rewarding experience, it is still a “job.” You cannot go into the office for two hours, make a few calls, have lunch, then leave early for a child’s soccer game.
You have to make a plan, set goals and push yourself to make calls, send out mailings, amass an e-mail list, and follow up on leads. It is not always easy to get a rejection, but it is part of the business. You might get 20 rejections in a day, but you only need one warm lead to get yourself a client and a “sold” sign followed by your first commission.
There are several things to think about before getting a license. Think carefully and if real estate is right for you, you are sure to succeed in your venture.