what to expect being a real estate broker

If yous're anything like me, you probably spent last summer binge-watching Selling Sunset, the Netflix reality prove that follows the high-terminate real estate brokerage firm the Oppenheim Group.

The bear witness makes the life of a real estate agent look glamorous — and it tin be. With flexible hours and high earning potential, the life of a real estate amanuensis tin exist both freeing and massively rewarding.

But earlier you quit your job to become a cast member on Selling Dusk, you should know condign a real estate agent is hard piece of work.

Here, we'll explore what information technology takes to become a real estate agent, how long it takes, how much it costs, and whether it's the right fit for you.

Already a real estate agent? Proceed reading. We'll also explore tips for becoming a successful existent estate agent from experts in the field. (Experience free to bound alee to that section if you lot're already an agent.)

Let's swoop in.

How long does it take to become a real estate agent?

The time it takes to go your real estate license depends on your state's requirements. Typically, obtaining a existent estate license includes between sixty to 90 hours of formal educational activity, plus studying and sitting for the licensing exam.

This means it tin take anywhere from three to half-dozen months to become a licensed agent.

Once you have your license, most states require yous to observe a real estate broker who volition sponsor your first two to iii years as an agent.

Of class, the trainings you're required to consummate depends on the brokerage yous join, as well every bit the land requirements — for instance, you might choose a national franchise, local or boutique brokerage, or even a virtual brokerage for your first real-earth experience.

The time it takes to railroad train and get you up-to-speed before becoming a fully independent amanuensis depends on which brokerage yous cull, but you lot'll desire to plan on spending at to the lowest degree six months to a year in a preparation program.

Then, how long does it take? TLDR — likely at least one to three years.

How much does it cost to become a real estate agent?

Once you're committed to becoming an agent, y'all're probably wondering how much money you lot'll demand to save to get started.

The costs of becoming a licensed real estate agent vary by state, every bit well as which teaching course you choose, only you can expect to spend anywhere from $500 to $1,200 full. That includes your education form, license application fees, fingerprinting and background bank check fees, as well every bit state licensing exam fees.

Even so, y'all'll likely need to rely on your savings until yous've airtight your kickoff bargain if you're working for a brokerage that works off commission. To play it safe, you'll desire to plan on having plenty savings to autumn dorsum on for vi months to a year, until you've established yourself every bit an agent and are closing plenty deals to make a living.

One alternative would exist to look for a brokerage that pays a salary rather than committee, or consider getting a side gig until you feel comfortable with the money you're making from real manor.

Why should I go a existent estate amanuensis?

In that location are plenty of reasons you might desire to consider a career in existent estate. One of the biggest is flexibility — existent manor isn't a 9-to-five office gig. Yous'll create your own schedule.

I spoke with Tessa Sims, CEO at KW Existent Manor Schools, Inc., to larn her take on the benefits of becoming a existent estate amanuensis.

She told me, "A career in real estate is such a desirable choice for so many people, perhaps because of its flexibility. You tin work from home or from an office. You tin fly solo or be function of a squad. You tin can work for others or have others work for you. Yous tin create a schedule that fits your lifestyle, and cull both your clients and your niche. Yous tin can brand a decent living or build an extremely profitable business. The possibilities are endless."

Of course, to find success as a existent estate agent, yous'll want to ensure you're available to behave showings during peak hours, such as nights and weekends. But if you desire to accept a week off for holiday, or spend mornings dropping your kids off at school, that's entirely up to you.

However, as Rich Cawley, President of Massachusetts-based real manor brokerage United Multi Family, tells me, it'south important to empathise that the flexibility of the job doesn't mean information technology's less hours than a traditional 9-to-five.

As Cawley puts information technology, "There are good pay-offs, and it can be a lucrative career, but the practiced agents I know are always bachelor for their clients. Especially with all the technology we have at present, whether client'southward want to be reached via text or phone, real estate agents are never truly off-duty."

"And so while the benefits are certainly the scheduling flexibility, you besides have to dear connecting with people because that's a big role of the task."

Fortunately, if yous practice like connecting with people, real estate could be the career for you. Real estate is a fantastic opportunity to meet new people.

Success in real estate also largely depends on an individual's bulldoze and dedication. One exciting aspect of existent estate is that there are no salary limits — since it'southward typically based off committee, what you put into real manor will directly affect what you become out of information technology.

A few other major benefits to becoming a real manor amanuensis include:

• The opportunity to run across actually cool, interesting properties
• Flexibility to work from domicile — this isn't a task where y'all demand to be in an office all twenty-four hours
• No dress code
• You're your own boss
• You don't need a college caste

However, nosotros should likewise briefly comprehend some disadvantages of existent manor, so you know what y'all're getting into.

For one, the flexibility we mentioned (above) tin can go a drawback — since information technology's non a traditional 9-to-5, you may end up working more hours than you would in an role, particularly since you're working off commission.

Existent estate is too an industry that often takes place after work hours. Showings commonly happen at dark or on the weekends, and then y'all'll need to adjust to a unique piece of work schedule that may not fit the lifestyle you want.

A steady income isn't always possible every bit a real estate agent, either. Your financial success in whatever given calendar month will depend on a variety of factors, including the housing market, the economy, and more than. Unlike more traditional salaried jobs, you tin't expect the same corporeality each month — which ways budgeting and saving will be critical during the slower seasons.

And, finally, it'due south important to keep in mind that buying and selling a home is an incredibly stressful process for your clients, and so you lot'll have moments of tension, anxiety, and frustration. It's vital to consider whether you can handle this stress and whether you lot feel you lot take the emotional intelligence to curtail it when information technology does arise.

Should I become a real estate agent?

Now that we've covered some pros and cons, you lot might be thinking: Okay, well …Should I go ane?

That is ultimately upward to yous. If y'all're unsure, consider shadowing a real estate agent for a twenty-four hour period, or conducting informational interviews to learn more about the industry.

If you're someone who has passion for real estate, creativity, and is a good trouble-solver, then this could be a good industry for you.

Additionally, real manor tin be a lucrative, social, exciting career, but it's also one that requires independence and drive — y'all don't have a boss telling you lot what to do, and so you'll need to find ways to brand your own success. Consider whether y'all have the innate bulldoze it takes to succeed.

In that location are different types of real estate, including residential, industrial, or commercial.

A quick rundown:

• Residential real manor: The buying and selling of property for residential purposes, including homes, condos, duplexes, and townhouses.
• Commercial real estate: The buying and selling of property for business concern purposes, including hospitals, gas stations, apartment complexes, and restaurants.
• Industrial real estate: The buying and selling of holding for manufacturing, production, distribution, or storage purposes. Think: warehouses, power plants, or factories.

When you lot're considering whether you should become a real estate agent, yous'll want to retrieve almost which type of real estate feels like the best fit for you.

Inside residential existent manor, additionally, yous might choose a niche blazon of home or specific client on which to focus.

For instance, perhaps you choose to focus on luxury homes, apartment buildings, new construction, single-family homes, or homes that offer waterfront views or historic value. Alternatively, maybe you lot focus on a given neighborhood.

So the question "Should I go a real manor amanuensis?" becomes: "Should I get a existent manor amanuensis — and which type of existent estate interests me? And what would I like my specialty to exist?"

Of grade, only you can answer that i. If you're unsure, proceed reading — the "How to Get a Successful Existent Estate Amanuensis" section, beneath, volition highlight tips from the pros, and should give yous a better sense for what you'll need to put into the job to get the well-nigh out of information technology.

If you're confident existent estate is the job for you, let's swoop into the steps you need to follow to get one.

Steps to Become a Real Manor Agent

1. Learn your land's licensing and educational activity requirements
2. Take a pre-licensure course, and other classes if demand be
3. Go your existent manor license
4. Choose a sponsoring brokerage
5. Join the National Association of Realtors (NAR) to become a Realtor
6. Create marketing materials, including business cards, brochures, etc.
7. Outset networking and grow your customs.

The commencement few steps in this list are covered in How to Get a Real Manor License in 7 Steps, so I won't cover those in-depth. If yous're interested in learning more about the pre-licensure course or how to get your existent estate license, check out that post before standing.

Along with a pre-licensure grade, your state may require boosted courses (to learn more than about your land'south requirements, select your state on the drop-downwardly card on Real Estate Limited' website). Here'due south a list of existent estate courses you lot might exist expected to accept depending on your country requirements:

• Pre-licensing courses
• Exam training classes
• Post-licensing classes
• Continuing education classes

However, once you have your real estate license, you lot still need to find a sponsoring brokerage. Most states require a real estate banker to sponsor your showtime few years as an agent.

There are different types of brokers y'all tin consider joining: National franchises, similar Keller Williams Realty; bazaar-style brokerages, which are smaller or local brokerage firms; and virtual brokerages, which takes place entirely online.

One time you've found a sponsoring broker, you'll desire to consider whether joining the National Association of Realtors (NAR) is the right choice for you. Y'all must join NAR to call yourself a REALTOR®, which is required if y'all want admission to Multiple List Services (MLS), which enables you to see other realtors' listings. While not technically necessary, joining NAR can help you increase your earnings potential.

Adjacent, you'll demand to create marketing materials, including business organisation cards, brochures, etc. Having clean, sleek, personalized marketing materials tin can help you grow your own personal brand — which is critical for expanding your reach, finding new leads, and growing your community.

Which leads me to my concluding indicate: networking. The last step in becoming an agent is networking and growing your community. Every bit an agent, meeting someone new is ever an opportunity to expand your accomplish and collect new leads. You'll want to accept your bill of fare on hand to laissez passer your name along whenever you hear of someone who might be interested in ownership or selling property.

Creating a clean website that displays your successful listings, as well equally remaining active on social media, are other proficient opportunities for expanding your network.

Requirements to Become a Existent Estate Agent

While the full requirements vary country-by-country, here'southward a quick rundown of what y'all'll probable need to go a real estate agent:

• Pre-licensing educational activity
• State approval to take the licensing exam
• Real estate license
• Sponsoring broker
• Acceptance into National Association of Realtors (optional but recommended)

How to Get a Successful Existent Estate Agent

Becoming a real manor agent is ane thing — condign a successful agent is another.

To set yourself apart as a real estate agent, at that place are additional steps you'll need to take beyond the ones listed in a higher place.

Hither, I spoke with real manor agents to uncover their strategies for succeeding in the industry. Let'south explore those, now.

i. Practice your research earlier showing upwards to a property.

Rich Cawley told me it's vital as a existent estate agent that you take the time to learn about the history of a belongings.

Cawley says, "Yous want to exist equally knowledgeable as y'all can nigh the history of a house. When yous show upwardly, you should already know everything you can nearly the property — that's what sets successful agents autonomously. At UMF, our tagline is 'we aid you sell a story', and that's really what you're doing in real manor."

"You're not selling a house, yous're selling a story."

Beyond knowing facts most the surrounding neighborhood, property value, school districts, etc. consider what makes the specific house unique, and why you feel the firm's personality matches your buyer'south.

As Cawley puts its, "Real estate is matchmaking. It's virtually knowing the right type of backdrop to show your clients, and not wasting their time with mass email sends, but rather being strategic about the messaging you send them and ensuring you're choosing the best backdrop for their specific needs."

two. Be a stiff communicator.

Existent estate is about connecting with people. As Cawley told me, he's never met a skillful real estate agent who didn't have a natural power to connect with people. It'southward virtually learning how to create trust and course stiff relationships with your clients.

And ane key trait of a skillful relationship is strong communication.

As Summer Business firm Realty agent Gerilyn de Laurentys puts information technology, "You can set up yourself apart from other agents by learning how to exist a great communicator. Meet people in person, or call them to have conversations that aren't almost existent estate."

"People don't care how much yous know until they know how much y'all care. Listen twice equally much as yous speak."

To exercise your active listening skills, yous'll want to truly listen to your client — that means ignoring distractions, putting your phone away, and listening without only preparing for what y'all're going to say in response.

Additionally, you might try feeding your client's words back to them, confirming yous heard your customer correctly, or asking relevant follow-up questions to deepen your understanding of their needs.

Real manor is all about selling, so it'south vital yous practice the advice skills that are important for any sales job.

iii. Keep in-mind why yous're passionate about real estate.

In that location will exist months or even years when you're not making the earnings yous desire. (Side note: many real estate agents I spoke with encouraged new agents to have savings to fall back on; this will help when you're still edifice a client list, during dips in the market, or if you lot want to branch out and commencement your own brokerage firm.)

When the going gets tough, you'll want to think why real estate is important to you — across the money.

As Sims tells me, "Setting yourself apart from the crowd requires yous to sympathize your 'large why' — in other words, knowing why you committed to a career in real manor. Your 'large why' will pull yous through the highs and lows of building a strong business model for yourself."

This is true of whatever career: Considering about would cull meaningful piece of work over a larger paycheck, it's critical yous find innate meaning and purpose in your profession as a real estate agent.

4. Choose the right brokerage firm with which to partner.

When you're offset starting out, you need to choose a brokerage house with which to partner. This business firm volition introduce you to the manufacture, help y'all grade connections, and provide y'all with mentorship opportunities.

Choosing a "sponsoring banker", as they're typically called, is a key office of condign successful as an agent. When searching, ask various brokers nigh their education opportunities — whether it be online courses, pamphlets, or sit-down classes. Additionally, you lot'll want to detect out how their cost construction works. Will you exist paying them a flat fee, or will they separate committee with you?

Sims adds, "It's critical you partner with the right broker — for the first 18 months of your career, your banker is primal to providing mentors, productivity coaches, and support, all of which volition help yous develop the key skills required for building a strong book of business."

To figure out which brokerage firm fits with your needs, try sitting down with a minimum of 3 to five before making your conclusion. Inquire these firms how they plan to aid you develop in your career, which is fundamental to becoming a successful agent.

v. Stay up-to-date on technology.

These days, some clients might expect you to transport forth text updates of properties, while others expect an email, website notification, or phone telephone call.

As Cawley told me, "Successful existent manor agents know how to use whichever engineering science their clients prefer to get in piece of cake for clients to connect with them rapidly, and on their own terms."

To practice this, ensure you remain upwards-to-date about communication methods your clients' prefer. Ask other agents what they apply, have yearly courses to refresh your cognition, or simplyaskyour clients what they'd prefer using.

Additionally, to stay on-top of all the clients and properties you're juggling, you'll want to consider investing in a CRM platform to organize your contacts, create a streamlined social media or email strategy, and boost your SEO rankings.

You might also want to explore how SMS messaging tin can help you manage automated text messages to clients, like texts that confirm a time or place for a showing.

And there you have information technology! You lot're well on your way to condign a successful existent estate agent.

Whether you lot're simply starting out or you've been in the industry for decades, information technology'southward important to recollect the importance of constantly expanding your knowledge of existent estate to remain authoritative when helping your clients observe — or sell — they're dream homes. Skillful luck!

Originally published Sep 28, 2021 7:00:00 AM, updated September 28 2021

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Source: https://blog.hubspot.com/sales/become-real-estate-agent

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