Tips for Switching to a Real Estate Career
As the economy continues its steady upswing, the housing market is beginning to pick up in many areas across the U.S. This effect is causing some to think about switching to a career in real estate. As a commission-based career, real estate marketing can be a great option for motivated people who are good at making plans and who can stick to their goals. If this sound like something you are interested in, consider these four tips for starting and building a rewarding new career.
Have Some Savings
As a real estate agent, you will not be earning a regular weekly paycheck. Instead, you will be working on commission that is based on the property you sell. Therefore, when first starting out, you may find that you are losing money until you make your first sale. Be sure to have a moderate-sized nest egg saved up to fall back on for recurring monthly bills, and let this commission-based plan inspire you to work hard.
Go Back to School
Having a degree in real estate or business will give you the knowledge base you need especially if you are coming from a totally different career path. Consider a school such as key realty school that focuses on several components of a good agent, such as a knowledge of appraisals, inspections, mortgages and property management. You may also want to invest in continuing education as you progress in your career to keep up with new tools and laws related to your career.
Find a Good Fit with a Broker Firm
While you will ultimately be working for yourself, most agents sign with a broker firm. This gives them an immediate rapport with many clients who trust the name behind the firm. Find a firm that offers plenty of support to new agents and that fits with your personality.
The success of your new career depends directly on the relationships you can build. Consider joining various neighborhood groups, getting involved in your community and reaching out to people at your church, your children’s school or your former workplace. These individuals will know who to contact when they are ready to buy or sell.
Because you are working for yourself in real estate, it is vital that you are a self-starter, like to work hard and are willing to put extra time and money into your initial career building. As long as you have realistic expectations from the start, you should find that real estate is a rewarding career full of relationships and exciting challenges. Moreover, it is a great way to help individuals and families find great homes and change their lives.