The Covid-19 opens my eyes into real estate, which resulted into me getting my New Jersey Real estate license. However, I haven't made any sales since I started 3 months because of so much to learn. How do I leverage my license to be an investor? Any advice for a rookie?
Having direct access to MLS data is always beneficial.
As an agent-investor my advice is this...seek first to understand and help homeowners. Sometimes it's their decision to list them home. Sometimes they will want to sell as-is.
Either way, you are there to help solve their problem.
Don't underestimate the long-term value commissions can play in your business, especially when you consider the LTV of a client and their referrals.
Just like real estate investing, there are many paths to success. Find a process that matches your personality, work it until you're the ultimate expert, and then watch the business roll in.
Here's a free resource from Verl Workman, a real estate coach: CLICK HERE
I like this one because you're basically developing your existing network of friends and then asking them for referrals. Most people focus on expanding their sphere, but that takes a lot of time to find a new sphere, build relationships, and then ask for referrals. Why not nurture what you already have? The 86-50-1 plan is one of the best I've seen, it's free, and the guide includes everything you need to work it for a year.
Don't like that? Try cold calling. Mass mailings. In-person networking. Tracking expired listings. Stop chasing shiny objects! Find a system and work it. Success may be three months away or (more likely) a year away, but only if you find a process and work it consistently.
Having your license and being an investor can work hand-in-hand as long as you disclose the fact that you are licensed as your prospect for your own properties. Real estate is built on relationships and having your license gives you more access to information that can help build or grow relationships in the investor space. All of my agents are investor-friendly and want to invest. You get access to MLS so you can have an alert for investment properties every morning at price points that interest you and when vacant, you can be the first one in. You also have access to resources like RPR which can help with block values, comps, etc. But it sounds like you just haven't found your footing yet as an agent. If you love real estate, learn all you can and hit up meetups. We do 2 NJ-based Zooms a week. You can find them in the events with the town as West Orange.
Thanks for the advice. I will surely join the zoom.
I also started 3 months ago and am in the same position as you. I have been dropping postcards door to door every 3 weeks, and so far I got 1 buyer and 1 potential seller I plan to follow up with. I started calling expired's consistently about 2 weeks ago and so far have about 8-10 people who said its ok to follow up with them every so often. As for investing I plan to learn the bare bones of real estate transactions and the industry more before I begin to invest, I was interested in finding wholesale deals and passing them along to flippers in hopes they would turn around and give me the listing, but I am still trying to become more knowledgable in the field.
Thank you so much for the advice. What company do you work for?
Sorry for the late response, but no problem! I am brokered by Exit Realty, my mentor/uncle has been with them his whole career and I too am enjoying it so far. What company are you with?