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A career in real estate can provide many wonderful rewards. If you’re interested in pursuing this career path, you’ll want to prepare yourself the right way and learn as much information as you can. That way, you’ll have an easier time moving past challenges that might come your way. Here are five important things to know as you begin to embark on your career journey in real estate.
Credentials Should be Obtained Before Working
Before you even begin working in real estate, you’ll want to make sure that you’ve obtained licensing and any other credentials that you’ll need to work as a real estate agent or broker. Each state has different licensing requirements, and you’ll want to make sure that the license you obtain is valid in the state where you plan to work. You can also get ahead in the business by affiliating yourself with the most prestigious real estate organizations and joining their member lists. Getting in contact with other real estate professionals can help you get the expertise and experience you will need.
Most Work is Commission-Based
Many real estate professionals work on commission, which means that they aren’t paid regular hourly wages and instead make their money from real estate deals. Even though commission-based salaries can be highly rewarding, you should be aware of the possible risks. If you go through slow periods where you’re unable to close deals and make money from the commissions, you could experience financial hardships. Having a back up plan, as well as solid financial planning, is essential. Otherwise, you might find yourself in a tough financial situation.
Marketing is Essential
A big part of the real estate industry is marketing, and you’ll want to advertise yourself as a serious professional to try to attract more clients. If you want to become a broker, a real estate broker marketing service can help you get ahead in the field. It will also be to your advantage to have social media accounts that allow you to connect and market yourself to potential clients effectively. Look to the examples of other real estate brokers and lean on your own skills to create an effective marketing profile.
Your Hours Should be Flexible
Real estate professionals are often called on to work evenings, weekends and holidays, and you should be willing to be flexible with your scheduling. You’ll have trouble maintaining success in your career if you insist on working set business hours. Clients may even try to call you at night with questions, and you should be readily available whenever they need answers. Be sure also to take vacations and have set time off for your health and sanity.
Networking Can Ensure Greater Success
Networking can definitely help you reach new heights in your real estate career, and you’ll want to establish close contacts as soon as possible and maintain good relations with these contacts. The individuals who are part of your network should include other agents and brokers who might be willing to work with you on co-listings or other collaborative projects that may be highly lucrative. Adding professional home stagers and previous clients who are willing to provide positive testimonials for the service that you provided to your network can also help you get ahead in the industry. You can even reach out to previous clients to get referrals, recommendations, or feedback.
By reviewing these and other important details about the real estate industry, you’ll have an easier time deciding if this career path is right for you. Arming yourself with the right information can help you make the best decisions about your real estate career ambitions.
By Lizzie Weakley
who is a freelance writer from Columbus, Ohio. In her free time, she enjoys the outdoors and walks in the park with her husky, Snowball. She recommends Homes.com for real estate marketing.