Real estate agents work for themselves. They earn commissions, they find their own clients, and they close deals on their own. For some, that’s what makes it a golden opportunity. Others may find the pressure of being on their own overwhelming at first.
Before you embark on the journey of becoming a real estate agent, it helps to know what you’re getting into and what it takes to successfully get your business going.
Work Part-Time or Save Some Money
Real estate is an easy business to get into, but as an independent professional, you won’t be able to walk into a job and collect your first paycheck two weeks later.
You have to build your business from the ground up. It will take time to get your marketing material off the ground, find clients, and then finally make your first sale.
Working with a broker who provides resources for real estate agents can help you get started faster. You may have to pay a higher commission split, but don’t underestimate how big an edge an involved, helpful broker can be. If you’re not sure who real estate brokers are, learn more at the RealEstateU Blog and find out what a good broker can do for you.
Marketing & Generating Leads
The growth of online and social media marketing has changed the game for small businesses and independent professionals, especially real estate. Social media advertising has proven to be a major boon for real estate agents thanks to targeted advertising that allows your online ads and posts to appear according to age and location.
The relatively low cost of social media advertising compared to traditional media platforms like T.V., radio, and billboards makes it a great channel to start advertising your fledgling real estate business.
Spend some time and money developing professional marketing materials that will reflect well on your business.
Lead Follow Up
You finally have leads – now, how do you turn them into clients? Lead follow up is an important skill to learn. Take a course or read about lead follow up online. There are tons of strategies for dealing with different types of leads.
Some basic steps you can start on right away is developing a monthly newsletter to keep engaged with your past clients. You can also start a blog on your website with helpful tips for people buying or selling property.
Make a Personal Plan
Your business is finally off the ground, you’re closing on homes, and you’re not entirely sure how you’re going to juggle it all. Working for yourself means there’s no one to tell you when you should be in the office – or when you can leave.
It’s up to you make your own goals for a career move into real estate. Come up with a personal plan based on your goals and expectations. Decide on the hours you want to work (especially if you’re raising a family), what your financial goals are, and how much you’re willing to give up to get where you want to be.
Keeping clear goals and knowing what it takes can help you prevent burn out.
Earning your real estate license is easy thanks to online real estate courses from schools like Real EstateU. The hard part is getting your business started, but with the right plan, you can get the resources and time you need to start closing deals and making money.
Image Credits: Real Estate Business from Who is Danny /Shutterstock