Archive for December, 2018

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If you’ve been planning on switching careers and getting your real estate license, there are some pointers you should be familiar with before taking this huge leap of faith.

While it is true that the real estate industry is exciting and can possibly bring in a high level of income, there are some realities and day-to-day experiences you need to be prepared for.

Here are some of the things you should expect and be ready for.

You Need To Master Planning

At times, when newly licensed agents fail, it is usually because they failed to prepare themselves for that period between passing their exam and getting their first commission. To avoid this from happening, you need to make a solid plan. This includes setting goals, developing a strong marketing plan and other activities that can help you target your goals.

You need to plan how you will be spending your first paycheck wisely if you are paid on a commission basis. As soon as you get the money, make sure to set aside an amount to help you save up for a needy day. You can never be too sure and it really pays to be prepared.

You Need To Get Licensed

To become a real estate agent, you need to get your license. The only way to do that is to get licensed for the profession. There are some colleges that offer short curriculum for this, while others opt to acquire the knowledge by paying for online courses.

These pre-licensing programs are designed to help you find a brokerage to partner with and to pass the exam with flying colors. However, you must check the state law in regards to acquiring a real estate license.

For example, in Chicago, Illinois, a career in real estate always begins with a broker’s license. Once you have this, you have to look for a managing broker like Kale Realty to sponsor you for two to three years. After this period, you may obtain a Managing Broker’s License if you wish to open your own office.

You Should Have Another Source of Income

Think about getting a part-time job when you decide to pursue this career. Between the period of time for earning a license and getting a commission check from the brokerage you have partnered with, it is likely that you will not be receiving any money. So having another source of income should help cover your day-to-day expenses.

If you are already thinking about getting a real estate license within the next year or two, start saving up as much as you can. Always put a small amount of money aside monthly to ensure that you can pay for your bills and cover other expenses for a couple of months while you wait for your commission or your first payday as a real estate agent.

You Are Your Own Boss

The broker you are working for will likely keep an eye on your performance, but for the most part, being a real estate agent is being your own boss. The responsibilities are not like those found on the typical company structure, so it is up to you to stay disciplined and to take control of your career.

Find ways to stay motivated. Try to set small yet achievable targets, and work your way up. Small goals like these will help you gain small successes that can aid your positivity in this profession. Moreover, smaller failures are not as difficult to get over with.

You Need To Build Your Contact List

You do not have to be the best in the business to become successful. Sometimes, knowing the right people will lead you to the top of the game. As early as possible, start building your database of contacts and do not fall back from communicating with them. It is important that you introduce yourself as a real estate agent when meeting new acquaintances. Do not oversell yourself but merely suggest that you can help out if they need assistance in finding or selling a property in the market.

As you pile up the people on your list, make sure to include their full name, email, home and mobile number, employer and occupation, and birth dates. It will also be a plus if you can get their home or work address. You can even add them to their social media accounts. Just make sure that you have a separate business account to show your professionalism.

As soon as you start getting some traction and your commission checks are coming in, slowly let go of your second source of income. That way you can focus a lot your time to becoming the best agent you can be.

Things move much too fast for you to serve your list of clients effectively and work another job. You need to show up in the office every day and you need to be marketing every single day. When it comes to the business of real estate, you have to fully commit your time and effort to succeed.