If you are interested in becoming a Realtor, you will want to do some homework first. Not just the literal kind that you would need to do for your real estate courses, but the kind that you do to research your industry. As the adage goes, failing to plan is planning to fail. Doing your research and planning for the future means you will be more successful and will be more likely to work your way up the top agent ranking lists
There’s more to the process of becoming a Realtor than just taking the requisite courses and then passing the exam. In many cases, you can become an agent first and see if this is the best fit for you before paying your dues to become a Realtor.
Some brokerages or agencies can be found online, which is very handy if you are not near a brick and mortar office. They can help you generate leads quite quickly. Otherwise, find an office willing to take in a new agent and mentor you.
You will want to be sure you have a business plan, even if you are working for an agency or brokerage. Why? Because you are essentially a contractor, and you’ll have to build your own business. Within that scope, you’ll need to have a plan for covering your costs for anywhere from six months to a year.
What expenses will you need to meet for your business? What expenses do you have at home? While you are working hard to build your client base and start selling, you still have to pay the mortgage, your utility bills, and anything else like braces for the kids. Then, once you have these planned out for the next month, extrapolate them over the next year, and be sure you have a source of funds to cover them.
You will need to be aware of not just the financial costs of running your business, but you will also need to factor in your time costs. How much of an investment are you willing to make with your time? Are you able and ready to work evenings and weekends?
Then there is the marketing you need to do to get established as a real estate agent. Some agencies will help you in this regard, but others do not. Can you afford to work for an agency that does not offer marketing help?
As you do your research, take a look at why other agents have not succeeded. What obstacles did they face that you will need to avoid? Does the agency you want to work for offer you additional in the field training? Will they help you get started with the National Association of Realtors so you can become a member, an official Realtor?
When you are able to put your whole plan together, you will find that that structure gives you the chance to be more confident. Then, with enough skills under your belt and the fees paid, you are ready to become a Realtor.
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