This Realtor Stuff is Tough!

This Realtor thing is hard! Us agents only make it look easy and glamorous. Despite what most people think, we aren’t paid big bucks to drive around and show homes. To be honest we probably talk to 40 people who will completely waste our time before we talk to one person who is serious about using our services. Not to mention we do not get paid unless the closes. This means weeks and sometimes months of work without a guaranteed paycheck. And yes, deals do fall apart at the closing table. All the time!

So, if you’re thinking of becoming a real estate agent you want to make sure you have the mental and emotional stamina for a business like this! Are you willing to take the time to build a successful and competitive business from the ground up? Are you willing to roll with the punches and more importantly are you strong enough to get back up after being knocked down? Because you will get knocked down. A lot.

Can you commit to being an ethical and law abiding business person? No cutting corners! It takes time, dedication, patience and grit. Like I said, it’s hard…but I enjoy it! I probably sound a bit crazy but hey, real estate will do that to you. I love what I do, I love everything about real estate not just the sales part. So yes, I can and will take the good and the not so good. I will cover some of the basics below and then come back to the good stuff a bit later.

Before Getting Your License

You will have to take a mandatory course and pass your state exam before you can claim your status as a licensed real estate agent. The process is simple in the state of Florida and I am sure other states have a similar process as well. It will look a little something like this:

• 1.Apply with your state for your real estate license
• 2.Schedule, complete and pass your state course
• 3.Pass background check
• 4.Get approved to take state exam
• 5.Schedule, take and pass state exam

• I went to Gold Coast Schools and signed up for the 63 Hour FREC 1 Course. I took the class in person because that’s what worked best for me. They offer online options as well.

Once You’re Licensed

Although you’ve passed your exam and are licensed within your state you still need to select a broker to activate your licensed (more details on this a bit later). You will also need to join your local board of realtors to gain access to the multiple listing service (MLS) which is where you will access the real estate inventory for your buyers and post your listings.

Keep in mind that some states require you to complete your continued education course within 1 or two years of getting your license. If not, you licensed will become null and void which means you’ll have to start the entire process again to become licensed.

It Costs MONEY So Don’t Believe the Hype

Like any business there are start-up costs associated with becoming a licensed agent. You want to make sure you write down each cost and make sure you can afford it before moving forward (something I did not do, so please take it from me). If you need to plan and schedule each step that’s fine. The state course, application, test and background check all have fees attached to them. Once you’ve done all of that you will have to pay to join the board of realtors and some brokers (not all) have an onboarding fee. Some are higher than others.

For me it looked something like this:

63 Hour FREC 1 Course - $498

State License Application Fee: $83.75

Background Check/ Finger Prints: $85

Brokerage Onboarding - $0

Joining Miami Board of Realtors- Just over $700 (with an annual Renewal)

Note: My first mentor fronted me the money for the 63 Hour FREC 1 Course and I paid him back after we closed a few deals together HUGE BLESSING. If it were not for him I am not sure I’d be where I am today. Thank you Dennis Cordero!

Finding Your Clients and Earning Their Business

Servicing your clients is the easy part! Finding them will be the challenge. If your broker doesn’t provide leads you are going to need to work your tail off to find your clients. Once you find them you will have to earn their business. I personally use social media and past clients to generate new leads but there are several ways to generate leads.

I won’t go into all of them now but I will name a few:

Social Media

Cold Calling

Door Knocking

Sphere of Influence

Networking Events

Vendor Partnerships

No matter what you choose, make sure to always follow up and stay consistent, the truth about lead generation strategies is that they all work. All of them may not work for you so you will need to send time trying them out and tracking your results. Most of the time it will takes months for you start to see results and that’s okay!

You’ve found your clients and your phone is ringing. Now you need to earn their business. Just because a couple gave you a call to sell their home doesn’t mean they’ve made up their minds to hire you as their agent. The best way to earn business is to lead with education, information and professionalism. You know more than your clients do about the home buying and selling process. Make sure to communicate transparently and educate them. If they sense you are hiding anything it will kill your chances of landing the job. I’ve been able to build a referral network from past clients because they appreciate my openness while serving them.