What are all the tools you need to become an Real Estate Agent?
My name is Kendell Seth Perry and I attend Miami Carol City High School in Florida, where I live with my Mom and my brothers and sisters. And I also play basketball and that's what I want to expand my career on and if that plan doesn't work out , I want to become an real estate agent. #college #career # #business #family
First I agree fully with what Mark has already said. Many people think that they just sell a house and walk away with 3%, but there's a lot of work, dedication, and investment that goes into being successful.
Here are a few additional thoughts:
Communication skills are essential. These days it's much easier to "show" a house since you can do most online, but there's also the aspect of being able to listen. People will tell you what they want in a home, but you have to hear the things they are not saying, and sometimes navigate the conflicting desires of the people who will live together in the house they buy from you.
Building on communication is trust. As you try to build a clientele from referrals, people have to trust you enough to refer their best friends and family members. It's their reputation on the line when telling their contacts why they should choose you over another recommendation. If you are honest and authentic in your dealings, upfront with expectations and advocate for your clients you will build trust, and a strong referral-based business.
As somebody with multiple real estate agents in the family, and having worked as a lender (doing home loans for buyers), there will be times where you get a last-minute call from somebody coming into town for the weekend and they want to see 10 houses in two days, and you were planning to go to the Keys with your partner/family/friends. If you make some sacrifices early to build that trust and build a strong business, you can get to where you have people working for/with you who can handle those surprises, but you and those close to you know have to know that this is part of the job. Build that trust. Build that book of business.
Let's be real. Most people hate the idea of "selling" but that's what you're doing. But this goes back to what I wrote earlier; you're building trust through communication. The best thing I ever heard about how to think of selling something to somebody is this: Sales is nothing more than a transfer of belief. If you're really hearing what your buyers want, and feel genuinely that the homes you wish to show them will fit their spoken and unspoken needs, then they will sense that.
Last point I'll make it with regards to building a trusted team around you. You will need to network with some handymen, contractors, interior designers/stagers, lenders and other real estate agents. As I sold my last house (while living 8000 miles away!) the thing that impressed me the most about my Realtor is that they worked with this great team of people to help me do some basic remodeling updates to make the home sellable. My first agent, who was even an old friend of mine, completely let me down by not being honest with me about the state of this rental property and it sat empty for almost a year, costing me a lot of money. The agents who sold it worked their tails off and went above and beyond with their network of people to make it look like new and earn their commission, and I tell everybody I know looking to buy/sell in that area because of it.
I hope this is helpful, Kendall! I wish you the very best in your journey in BOTH basketball and real estate. Send me a signed Rookie card when you make the league (or when you win the "Up and Coming Realtor" award)!
All the best to you,
I hope that you are successful in both basketball and real estate! There are probably more, but I can think of two very successful real estate professionals that were pro ball before their real estate careers took off.
The thing to realize about real estate is that it's a real job. Real estate is hard work! Real estate is a great career choice! Some of the tools to be successful are traits like determination, integrity, self motivation, attention to details and strong communication skills just to name a few. As a real estate agent, you're basically an entrepreneur... You are your own boss. Being a self starter with time management skills is essential! No one is going to make those phone calls for you! With that said, it's very rewarding, because you have the privilege of helping people. And along the way, you can make a great living.
I've worked with many real estate agents. One night around 11:30 PM my agent called me apologizing for calling so late. Point being, real estate agents work around the clock! It's not just a 9 to 5 job! In this scenario, the buyer called his realtor and forced them to call my realtor in the we hours of the night over negotiations on the house my wife and I were selling.
The basic steps in the state of FL are:
Complete 63 hours of approved Pre-Licensing education
Pass the course final exam
Submit your fingerprints to the Department of Business & Professional Regulation
Complete the application for licensure
Pass the Florida Real Estate Salesperson Exam
Mark recommends the following next steps:
I have several friends who are realtors by trade and some who have gotten their real estate license, but don't practice it. There are definitely specialties between listing agents and buyer agents, commercial vs residential and expertise on local markets that can set one real estate agent apart from the rest. Off the top of my head, here are the things that come to mind (speaking as an investor and not as a realtor).
- Networking and have a good healthy rapport with other realtors, buyers, sellers and their networks
- Informed of local ordinances, market trends and giving your clients educated information of local markets
- Nice car to show off your success as a realtor. In the past, realtors would drive their buyers to open homes, but I think this practice has dwindled.
- Real estate tools for listing and marketing, staging a home, and advising your clients of top home improvements that would get them the biggest return or attention from buyers
Real estate is a very dynamic market and quite volatile overall. Competition is fierce and agents have to set buyers' expectations on their budget and what could be purchased within their budget. I've had a lot of luck through referrals when a real estate was referred to me versus finding one online. In very competitive markets, and as a real estate investor, I like to work with agents who already have an established relationship with the listing agent so that they can push my offer to the top of the list and negotiate with the other party. Real estate is very much a relationship based profession and realtors can guide both buyers and sellers in a tough market.
Technically, realtors are creating their own businesses, and with it comes a bunch of responsibilities. But, it's very rewarding, monetarily and helping people find their dream homes, Good luck.