Tuesday, June 10, 2014
With the boom of the real estate scene, being a real estate agent seems like the best way to go. After all, with every home purchase comes a hefty commission. However, like all jobs, there is more to being a real estate agent than money.
Before even taking the test or applying, here are some things to work on or think about…
Building your own network
If you're just starting out, you’ll get names and referrals from the company you’re working for. But, the best results come from having your home contacts.
Being open to learning
At least 120 hours are required to get a professional license to become a real estate broker. The test itself will cover subjects such as property, zoning issues and taxation. This is not just another job. It's a job that needs study and preparation.
Learn how to budget
If you work for a developer or real estate agency, you’ll be entitled to certain allowances but not everything will be covered. While you may get a six figure commission take note that that only comes from the sales that are actually closed. Make sure to budget for work, from getting to work and properties that are on sale to staying in touch and wooing clients.
It's not just a disgruntled customer or the ignored calls and texts. You’ll be at the mercy of the economy and a client’s icy attitude. You may be getting a six figure commission now, but those commissions are based on a percentage of the property value. Should the value and figure of those properties go down, you could be subject to a lower commission.