What Beginner Real Estate Agents Should Know
If you like looking at listings for fun, congratulations: you’re either destined for a jumbo mortgage or a career in real estate. Let’s think positively and help you start profiting from your passion. You’ve probably had a taste of what beginner real estate agents should know, but your textbooks can’t give you the real lowdown.
Cash Flow Is Tricky
Realistically, the wait between the day you get your license and the day you make your first sale could be a while. Make sure you have a financial cushion so you’re not stressed from the beginning. When you’re desperate you start to panic, and when you panic you’ll put too much pressure on buyers. This is the business. You’ll have great seasons and unproductive lulls, so keep your expenses low until you build your reputation.
Weekends Are for Working
People are looking for homes in their free time, which means they’ll be occupying yours. You’ll need to devote at least one day a weekend to showings, open houses, and consultations. One of the great perks of real estate is the flexibility to make your own schedule, but that’s only true up to a point.
The Market Never Sleeps
The best way to set yourself apart in the beginning is to offer local expertise. You’ll need to know what properties are out there and how to spot a deal when it pops up. There’s never been better technology to help you keep up on the scene, and networking can get you some good tips, too. Hedge your bets with a good working knowledge of all kinds of properties: residential, rental, and business. It’s important to start out with a plan, but there may come a time to pivot.
It’s About Relationships
There’s a little secret that all beginner real estate agents should know: your true love may be real estate, but you’ll be actually working with humans. FUnless you have a background in customer service, you may be surprised by some of the personalities you come across. Hone your communication and presentation skills, because you’ll have to balance a lot of roles: an advocate, a negotiator, sometimes even a couple’s therapist. Learn to play nice with house hunters, other agents, builders, bankers, human resource managers, and attorneys—in short, anyone who can get you a referral, even if they bullied you in high school.