What do I need to know before becoming a realtor?
I'm in high school and I have a general idea of what I want to do in the future and it would be nice to know a little bit more about the pathway I am taking to become a real estate agent. Thank you! realtor realestate
I'm not a realtor myself. However, I've interfaced with many. I've used their services in both buying and selling and I think realtors provide a very valuable service. In addition, I have several friends who are realtors. Some are really very good at what they do. Very good!
So, what do I need to know? That's a great question!
First off, realize that it's a business and it's hard work. You need to take it seriously. My wife and I have been married for over 30 years. We've lived in IL, KY, FL, CT and IN. There are so many people who retire, move to FL and go into Realty thinking they're going to be on Easy Street. What they learn very quickly is that they either need to work harder or find something else to do. Real Estate is a real job! This doesn't mean that you shouldn’t enjoy working as a Realtor. On the contrary, you won't be successful if you don’t. However, the best agents are those who marry the pleasure they get from their work to an understanding that it is "real work".
What you're actually selling is your expertise. You have to be adaptable and willing to work with sellers and buyers to be successful. When it comes to selling, it's all about relationships. To maximize your business, you need to participate in your community. Out of several very successful realtors that I know, there are two that really stand out to me. Both made career changes into real estate. One had become an "empty nester" and was very well known around the community--small town. The other was the director in charge of child care at our church. A church with about 4000 members. Both were well known in the community. Both were professional, classy and most of all, trustworthy. Your reputation in your community greatly influences your profession. People obviously want to work with agents that they can trust.
Since you're young, I don't think I have to comment much on technology and social media. I'm in my fifties and I can tell you, selling has changed. Buyers can find out everything about anything in the comfort of their own homes these days. You will need to know how to use the latest technology and social media!
Seek out a mentor and try and find a good, reputable company to work with.
Lastly, I'd still pursue at least a 4 year degree. In what ever interest you... Since you're into real estate, I'd guess sales and marketing. A four year degree will be invaluable and serve you you're whole life!
Hope this helps!
2) Try to find out who the top producers are in your area and ask to interview them. You'd be very surprised how many top agents, in spite of how busy they are, are willing to give some of their time to someone that is proactive and reaching out to them for advice!
3) Read this great book about some of the inside scoop on what it takes to succeed in the business: "21 Things I Wish My Broker Had Told Me".
4) Find out which of the local real estate companies have great training programs. These will being training sessions that go beyond the very basic classes you'll need to take to become licensed. Make connections with the company you feel might be the best fit. After you get your license, you'll want to sign up with one of these companies and begin their training. DO NOT join a small company with only one or two agents. There simply will not be enough mentoring available there to get you thru the tough times.
5) Prepare to take the State accredited course to get your license.
6) Take the course and the exam. NOTE: do not be concerned if you fail the exam! Many top producers failed their exams the first time they took it, too! Some of them even failed multiple times - but they persevered!
7) Join a good company with solid ethics, solid people and take their training.
8) Find one particularly strong agent and ask them to be your mentor.
NOTE: Mark's answer above, saying "First off, realize that it's a business and it's hard work." is spot on.