Hello, I'm a newly licensed RE salesperson in Arizona and I need advice. I am currently a school teacher working full time during the day and part-time building my RE business. My goal is to move my RE career to full time beginning in June. I would love to have built a foundation by then and have some income starting to come in, but I will need training and mentoring to achieve this goal. Is it realistic to think there are agencies who are willing to work with me during the late afternoons/evenings and weekends while I am still working full time teaching until the end of May? Can I find an agency to help me build a business foundation and start to fill a pipeline working part-time in real estate over a 3 month period?
I'm open to suggestions, feedback, and any advice that will help me on my road to success.
I am a few steps behind you - I have taken the courses, but haven't actually taken the RE exam yet.
My instructor and others I have spoken to on this subject suggest Keller and Williams is the agency to start with. Our RE instructor invited one of the local offices for a "Career Day" where the class heard about what that office did. They have been rated as having the best training program out there - not only ranked against real estate agencies, but of all of the companies that have training programs. They offer a variety of opportunities for both commercial and residential properties agents. They have online training for their agents and they have regular team building/training sessions, where they discuss various topics. They also provide one on one training and walk new agents through the process from building your network, listing properties and completing all of the paper work for a sale.
Their splits are a bit higher from what I understand - but the training they provide is more than worth it from what I have heard. One of my questions for them was will they work with part time people and they said yes. My concern and probably your's is the transition from a paying job to a job that typically takes months before you build your network and close on your first deal. At least the Warner Road and 101 office does work with part-time people - they probably all do, but we spoke with the Warner Road office. So you should be able to start now to learn the ropes and build your network. I would recommend giving them a call. I plan to call them once I pass the exam, hopefully I will be able to do that this month or next month. I looked for the folder they gave us with contact information, but I must have put it someplace safe since I can't find it right now otherwise, I would give you a few names from the career day :(
I hope that helps!
@Lori Guse @Felix Goins I would interview as many brokers as you can. Let them know your plan. I am a part time agent now but when I interviewed with my current broker I told him I would start part time and I wanted to be a full time agent within 15 months. He was on board and hired me. I also have a mentor inside the office so that helps a lot. Find a mentor that is willing to walk you through the different processes in the beginning. My mentor walked me through each of my first buyer and listing transactions. As far as training goes do as much as you can yourself. If you're able to listen to podcast or youtube videos during the day, on the way to and from work, while you're working out, etc, do it. I listen to about 3 hours of some type of real estate content (agent or investing) a day. Hope I was able to help. If you need any more advice feel free to shoot me a message.
Justin Forehand, Real Estate Agent in AL (#114720)
Thats excellent advice!
Thank you all for the great advice and tips. I am already signed on with a broker and now wish I had asked this question first. I appreciate the advice to interview as many brokerages as I can and then make a decision. I've been with an agency for about two weeks now, it takes longer to get everything signed, filed, and up and going being I'm part time. The office I'm with is small, the company is not, but the particular office I'm with is small and still growing. This could be good and bad. In hindsight I see that being a part of a bigger group or even a team, like KW for instance, would definitely have it's advantages for a new person like me just starting out with no experience in the industry. So... my next question, now that I'm with this agency, what is the protocol for length of time I stay with them? If I decide to move to another agency that offers more training and support for a new agent, after they put in the time and effort to get me all signed up, business cards, website, various accounts, etc.
@Lori Guse It may depend on the state. I think in Alabama there isn't a time frame. In fact that was one of the questions when I applied for my original license after completing my post license. It asked if I wanted to stay with my current broker. I would go to the Arizona commission website and see if you can find the rules there.
Justin Forehand, Real Estate Agent in AL (#114720)
I am not an agent and hopefully can provide a slightly different view point from everything already offered. I would make an additional suggestion that, if REI is your interest and passion, and becoming an agent is just one method to get you closer to that, why do you need to be an agent? For example, I know that we need more appraisers and inspectors (if you have previous construction experience or someone who could train you).
If you do want to become an agent, the best advice I could give to build your network is to start by going through every one of your contacts and letting everyone you know know that you are becoming an agent (including coworkers, students' parents, anyone else you have any connection with who may know you and need a home to buy/sell). The network and broker you are with can certainly help boost your success, but in my opinion nothing replaces putting in the time and being creative with how you operate your business to show how you, as an agent, are unique to your clients (Investors, people planning to buy for their primary residence, etc.)
I also have an REI mentor who has helped with my process a lot if you would like a recommendation. He is a paid mentor, but he has become my friend as well and I would certainly recommend him.
Keller Williams is the place for training and getting you positioned to ignite your business. In fact, their training module that does just that is actually called IGNITE.
I have been with KW for over 20 years (in May it will be 21). It is the best, and I DID interview many different brokers at the time that I got licensed. KW was barely 6 months old in the valley and had 1 office, and 1 satellite office in North Scottsdale. However, seeing the business model, and profit share opportunity, just made the decision for me.
BTW, I had my first deal in escrow within 3 weeks of being licensed with KW.
If you need an introduction to the proper people, just let me know. I am happy to make intros.
Thank you for all the fantastic feedback! I wasn't sure what to expect, as I'm new to BP, but I'm pleasantly surprised by the support and timely feedback. So glad I stumbled upon this website.
@Matt Dickens Thank you for the different perspective. I'm initially pursuing my RE career, but I'm not opposed to investing. I am hoping after I have some experience in the industry, I will be turning that page. I really appreciate you taking the time to offer some advice, it is a good idea to keep my options open. I may be hitting you up in the future for your mentor referral.
Feel free to PM me anytime!
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