Do You Have What It Takes To Be In Real Estate?
Getting into real estate is common for the entrepreneurial-minded professional that wants a more flexible schedule. But becoming a real estate agent, broker, or investor is no easy task. It takes a certain person with a particular mindset to find success. For those interested in embarking on this journey you’ll need to find a mentor, take stock of your personality assets, always continue learning, embody an honest persona to clients, and always work hard.
Find A Mentor
Most successful real estate agents will tell you that they’ve worked with a mentor at least once in their careers. That’s because a good mentor can teach you exactly what you need to learn at any point while building your business. These partnerships can really help a real estate agent, broker, or investor find their footing, gain traction during a slow period, and simply lay a solid foundation going forward. That is why finding a real estate mentor is part of what it takes to be successful. Learn from the best and you’ll find success!
The Right Personality
Not everyone is built to be in real estate. Some people just simply aren’t minded for it. But for the others, the real estate market just makes sense. Before setting out into your new real estate business, take stock of why this is the job that called to you. Find your purpose before starting your business and then the goal will be clear when things get busy and stressful.
Take Training Seriously
Anyone successful understands the value of learning. Even when you’re established, it’s imperative to keep attending seminars, educational panels, and other continued real estate education. Those of you who wanted to become agents have taken pre-licensing courses but that should just be the beginning. For this point, having a mentor can be helpful because they can suggest which seminars are worth attending.
Be Honest & Don’t “Sell”
This is a common misconception, but it isn’t the job of an agent to sell. An agent that leans into the hard sell will inspire a distrust with their clients. Instead of selling to people, listen to their needs, be honest, and show them properties that fit within those parameters. That’s all there is to it, be a matchmaker between buyers and properties. You’ll close more leads when you’re giving the client real value and honesty. And with more leads, comes a real estate commission! Be sure to understand how to manage your finances during on and off seasons. Use Payfully for an advanced commission to help invest in your business.
Work Hard, Always
Being an independent contractor is never easy, and most real estate professionals operate as 1099 employees. This means it’s pretty expensive to get started since you’re paying for most things an office would generally cover. The reality is that 80% of real estate agents will go into a different profession in two years. To be one of the 20% you need to work hard at all hours. It isn’t easy to be in real estate, and one of the most basic stipulations is that you’re a hard worker.
Breaking into real estate is somewhat easy, but finding your footing as a solid, successful professional in the industry isn’t. Following these steps to success can help ensure that you have what it takes to be in real estate.