@Mariyah Trammell learn your area listen to podcasts on being a realtor. Learn the business of being a realtor from someone who knows the business. Dont focus on the dollars first. I worked for one of my brokers for free twice a week for three months to learn how to work with investors.
@Mariyah Trammell since you dont have access to the MLS yet go on zillow or realtor.com and pick an area and learn what the houses are selling at. If you want to specialize in an area you should be able to look at it and know the general price of if ( if its rehabbed or not, if a investor wanted it for a rental property how much is the rents for).
@Kevin Miller ok sounds good! I’m trying to debate now if I should get licensed in Maryland or Delaware, do you recommend taking classes online or going too a school? And how do you know if your picking the right brokerage
@Mariyah Trammell both dont teach you how to be a realtor they just teach you how to take the test. I've done both and at least in class you get some real life stories from the instructions. Education was my first goal when I picked my broker but the big names are going to kill your pockets with all their fees (office, franchise, on top of you commission split) I'm a in person learner I hate learning on a computer.
@Kevin Miller okay if they only teach you how too take the test how would I learn more about being a real esate agent, by pod cast and stuff? So do you recommend smaller brokerage companies?
1. Take a class based on how best you learn. @Kevin Miller told you what works best for him - you've got to discover how it is that you learn. Do you need an in-person class because it keeps you accountable, or do you prefer an online course that will allow you to learn at your pace and learn during odd hours (like late at night)?
2. Real estate is a lot of sales and marketing. Classes teach you more about law and ethics (so you don't get in trouble), but no class is going to teach you the business skills needed to be a self-motivated, self-employed salesperson. The good news is the skills needed to be a real estate agent are often the same sort of skills that are transferable across many industries. You can learn about real estate sales and marketing specifically by googling things like "best strategies for newcomer real estate agents" and just open 312803802358 tabs in your web browser and start reading. Or you can learn about standard sales concepts like "filling your pipeline" by googling that phrase instead. Both of those methods will eventually lead you to books, podcasts, networking groups, etc.
3. Learn your area by doing what @Leah Stuever and Kevin both recommended - just start searching on Zillow, Realtor, etc. and start to understand why prices go up or down, what areas have high taxes, which areas have better schools and which don't. Going to open houses gives you a chance to speak to other agents and ask them any/all questions you might come up with.
@Mariyah Trammell that's what your broker is for this is my second having my license so I went back to my old brokerage and their training was so out dated I moved. I learned mostly from podcasts and my broker who mentored me on how to work with investors( different animal and way of thinking when buying a home)
@Mariyah Trammell, I will add to what others have said that one of the first things you will have to do is establish credibility. You do that in a combination of ways:
1) Read....read, read, read, read, read. Know your subject inside and out. Taking the Real Estate Salesperson license course for your state will not teach you how to be a successful real estate agent.
2) Have the heart of a teacher. Once you have #1 down pat, you will work to educate your clients on why they should work with YOU vs. the 10,000 other agents in your state/area. ALL of you have access to the MLS and contracts. ALL of you can sell someone's house. Why are YOU the best one to work with? Your job is to educate your clients on why they can't live without your services.
3) Have money saved up. Most new agents do not earn enough to eat while building up their book of business and must work a secondary job or have reserves. 3-6 months of expenses would be a good start if you plan not to work. Also, have advertising $$$ saved up beyond your living expenses. Plan on at least a decent website + professional photographs + ads in area tear sheets. I'm thinking $5,000 would be a bare minimum to get your name out.
4) Get your face in front of as many people as possible to grow your network. An older agent told me back in 2000 "When people think of real estate and selling houses, I want them to think of me before anyone else." Go to civic meetings: Lion's Club, Rotary Club, the Ladies Auxiliary, VFW Post, etc. Don't just show up: get on the agenda. Teach a class on buying or selling homes, VA home loans, FHA requirements, etc. Bring KNOWLEDGE (remember item #2) and position yourself as the go-to expert. Most people only sell about 4-5 homes in their lifetime, whereas you'll hopefully be selling that many every WEEK soon.
5) Hustle. Like. No. One. Else. You will be in direct competition with agents who have been doing this 30+ years and have teams and spend tens of thousands of dollars everyone month doing all of the above. Expect 70+ hour work weeks. Always dress and act with the utmost professionalism. You will do that by grinding out 100 meetings for every 1 who signs a deal with you.
6) Personal appearance. I don't know if you're into tattoos and nose rings, but many young people are and think they are cool and trendy. The 70-year-old grandma wanting to sell her $800,000 house may take one look and say, "Next!" She is not obliged to hire you. You are obliged to tailor everything about yourself, including your physical appearance, in a way that helps her trust you with a very expensive asset. I'm not saying you can't "be yourself", but be yourself on your time, not your client's time. Think about the most trustworthy people you know and emulate them. Meet the top brokers in your town and see how they act, dress, speak, and what sort of social media activity they participate in. Treat every meeting as a job interview, because it is. Imagine every person you meet will read your Facebook page and Instagram account, because a lot of them will.
These are just for starters. Now the last one I want to leave with may sound a bit depressing.... even if you do ALL OF THE ABOVE....perfectly...
80% of agents wash out after the first 2 years. That's just reality. Real estate has such a low bar of entry that a lot of people see it as a glamorous, fun profession--and it can be--but many, many people get into it and find that sales isn't something they were born to do. You have to love the profession. You have to be willing to give up nights and weekends when friends and family are having fun to be the best.
I met a very talented, dedicated lady at my first brokerage who had been selling real estate full time for 3 years. She was very excited because that year was the first one she turned a profit over $30,000. That's right....$30,000. Most people can make that kind of money working a W-2 job for someone else, for 40 hours a week, and they start making money right away. She made $12,000 her first year; $18,000 her second year. Keep in mind that was after her expenses. She of course MADE a lot more than that, but after paying for everything to be an agent that was her profit. Three years....it's a long time.
So, with all that in mind...if this is your dream, go for it! Do it with a passion that never dies and never says, "I quit." I just want to be sure you know what's out there so the dream doesn't turn into a nightmare. Best wishes!
@Mariyah Trammell The first step would be to find out what it takes to get licensed in your state. Then find a licensure class that works for your schedule and complete the class/sit for your test ASAP.
If I was younger and starting over in this business I would try and become a buyers agent on a very high producing team in your local area. That lets you learn the business and starts you developing your network.
@Mariyah Trammell Not at all. They are a licensed real estate agent who typically works the buyer leads that come in off the numerous listings of a high achieving listing agent.
@Mariyah Trammell find a successful brokerage in your area and ask to shadow a successful agent or two. I would recommend starting on a real estate team. Make sure it’s a successful team with a admin so you can find your way. I find a lot of new agents have a false impression on what it takes to be successful. YouTube videos on real estate lead generation. If you can successfully lead generate it will all fall into place.
@Mariyah Trammell My son, 19, just got his license. Great way to make money without investing 40 hours per week. Groupon had a deal in our area. The class was 1/2 off. Check it out.
I’m 19 years old and wanting too become a real estate agent, looking for tips and advise!
Start with buyers as it's low hanging fruit and your age/inexperience will be a deterrent for sellers at 1st. When you get some experience under your belt switch gears and focus your marketing on sellers as Listers Last.