So you want to get into Real Estate!
Maybe you are interested in being your own boss and having a flexible schedule, or you’re attracted by the great average salary and satisfaction that comes from helping someone find a new home for their family. Whatever reason you have, Real Estate is a great business and can be relatively easy to get into, but it’s important that you follow the right steps.
- Save up a nest egg
- This is very important because you will mainly be spending the first few months of your real estate career building up a client base and finding your niche, so you want to make sure you have some savings to cover you for a bit.
- Find out your state’s requirements
- Other than being over the age of 18 and a US Citizen, every state has different education requirements and certification courses for becoming a real estate agent. Contact your state’s real estate commission to see what exactly you need to be licensed in your state.
- Get to know your market
- Take stock of what the area you’d like to work in is like. Is it mostly young renters or established families? Is it a neighborhood of timeshares for snowbirds or penthouse apartments? The more you know about the price ranges and types of real estate in your area, the more prepared you’ll be to help your clients.
- Find a broker
- Unless you become a broker yourself, you’ll need to find one to work with. Though you will technically work for yourself, the broker is the umbrella company you will work under. Find one with a good reputation that people trust. That doesn’t necessarily mean go with the famous ones, because you might be happier or find more success working for a local real estate broker. It just depends on what kind of market you want to focus in and whether you personally feel good about working with them.
- Make friends with someone in the field
- When you’re first starting out you will probably have LOTS of questions and unique scenarios that you’ll want advice on. If you can find someone who’s been in real estate for some time to become your mentor, you’ll have someone to go to when you have those questions.
- Market & Network
- No one is going to hire you if they don’t know who you are! At first it will probably seem weird, asking your friends and family if they know anyone who is looking for or selling a house but once it starts bringing in clients, you’ll understand why it’s necessary. Make business cards, print ads and fliers, anything to get your name and face out there.
Being a real estate agent can be a very interesting and gratifying career, so best of luck!