How To Be Success In Real Estate
Before beginning a new real estate career, know that you should have a plan on how to achieve success. Your ability to understand the market and your willingness to network and connect with consumers and other professionals is key. There are some basic guidelines to consider.
Work under a licensed broker that aligns with your goals.
Have savings on hand in first year on the job.
Keep learning and growing.
Adapt to changes in your market.
Work for a licensed broker. In most states, you can’t get your license and immediately set up your own brokerage. You will need to choose an experienced broker, which is the case in Indiana. There’s a variety of employment options: a traditional brokerage, going on a team to gain experience from a top-producing agent or opting to go with a nontraditional brokerage that pays a salary.
Have the funds to get started. Most agents work on commission and likely won’t be getting large commissions immediately because you don't get paid until you close a transaction. Be ready to perhaps live on a budget for the first six months to a year until you are covering your cost of living without having to dip into savings. You may want to look at alternative options, like working for a brokerage that pays salary rather than commission, starting as an assistant while you are learning, or even taking on a second job while you’re getting started.
Become a Marketer. Marketing yourself and your brand can attract potential buyers and sellers. To increase visibility and send traffic to your website, use social media, advertising, networking, direct mail, and email campaigns.
Social media: Agents should have a professional Facebook page that features weekly posts.
Advertising: Advertising through Google Ads and Facebook can help real estate agents gain leads.
Networking: Connect with people in the community
Direct mail: Sending postcards or flyers to your farm area with a direct mail company increases exposure.
Email marketing: Using email marketing to keep you engaged with leads.
Keep learning. This might sound odd, knowing that you will have just completed 90-hours of Real Estate Classes to become a real estate agent. But, the courses to get your real estate license primarily teaches you the local real estate law. As a professional Real Estate Broker, you’ll have clients relying on you to help guide them through real estate market changes, know the market, assess the value of a property and know how to negotiate effectively. The best advice: get out in the market, read the real estate news, work with experienced agents, and get as much information as you can.
Specific training varies depending on the real estate company you choose. Larger real estate companies may provide formal classroom training, while others allow their agents to enter the field immediately after obtaining their license. Because of the sales environment and the complexity of real estate deals, new agents may choose to observe and work closely with more senior agents.
Learn the market and the language of the business. You need to sound like you know what you’re talking about and know what is going on around them when you drive them around you know what you are talking about.
Most States require you to complete real estate post-licensing coursework within the first 6–24 months after you obtain your real estate license.
In Indiana, you will have a required 30-hour Post Licensing course due within the first 2 years. IBREA will have this available ONLINE in the 4th quarter of 2019. Although you will have 2 years, you might want to consider completing this quicker rather than later. First, you will have more time to complete the class as you are starting the career. And more importantly, it has valuable information to help you with your career.
Be ready to adapt. The real estate industry is greatly affected by the local economy, construction, employment rates, local government policy and interest rates. Problems in one area can make the life of a real estate agent tough, and you have to be ready to change the way you do business.
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