Real estate agents are some of the most misunderstood professionals out there. People usually think about the large commission checks, being their own boss and managing your schedule as they see fit; but what they do not think about is the long hours, the dry spells and the constant pressure to hit your sales goals.
Nonetheless, this is a job that can offer you a type of freedom and independence that only few others can, especially if you apply your skills to becoming an international real estate agent and combine it with your love of traveling. So how do you get started? Like many other times, here at Royal Holiday Jobs, we got your covered. These are some very basic things you need to think about to get you started and to outline your path to what could be your dream job.
Is this right for me?
Do you have the right mindset and personality for the job? A real estate agent must be disciplined and work very hard unsupervised and that is something that most people do not think about before getting into it.
It is true that hours may be flexible, but that means that you must be willing to be available every day, even Sundays and holidays, and at any time as well. You can receive calls at odd hours of the night and have to deal with issues right away. How well versed in business are you? If the answer is anything other than extremely knowledgeable, then you need to get up to speed ASAP. Real estate is not just about selling the properties, is about understanding the entire landscape of current finances.
Am I qualified?
This is highly dependent on the country and the state in which you want to work. Generally, you only need to be 18 years old in order to apply for qualifications and even those vary from place to place. The advantage you have nowadays is that you can probably take online courses on real estate and pre-qualification education without having to leave your house. Another qualification you must think about is if you are able to spend the next 4 to 6 months without any income. Sometimes the process of getting from being qualified all the way to cashing your first check may take a while.
How important is my education?
A college degree is not necessary to become a real estate agent, however, having an education does help even if is not in the field of real estate or business. Those agents who have a degree in business, marketing, economics or law, already have a bit of an advantage. If you want to really stack the odds on your favor, you can think about getting a degree in real estate. Those are easily available nowadays and almost all universities have some program available.
What license do I need?
Licensing also depends on the area where you want to work, so you need to research locally in order to know what you need. Pre-qualifications courses are a great plus as they prepare you for the exams you need to take in order to become licensed. It is a great idea to start looking for a mentor, or someone with expertise that can help you find the answers to questions you may have about the process. It is important to pass the exam with a very good score, as this can help you find a better broker later on.
Develop a budget
Having a budget is something you need to do in order to get by the months in which you are going through the process of becoming an agent and when you need to start putting some of your money down for membership dues and regular operating expenses like office supplies, your telephone, computer and other bills.
Find a broker
A broker is a person with a special type of license that oversees your transaction and pretty much gives you the right to sell homes. Every agent must work for a broker or for a brokerage firm. Some of your commission goes to cover broker fees and they do take some of the liability off your shoulders and they provide you with some resources, training and help in your day-to-day operations.
Grow your portfolio
This is what will get your referrals, more sales, and more opportunities. Your personal network as well as the aid of a mentor is instrumental in helping you build a strong portfolio. Market yourself and ask around. There are many people looking to sell or buy a home, so that is your opportunity to get in on the action.
Never stop learning
The world of real estate is very dynamic and it changes constantly. Being up to date with the latest news, information and the use of technology to make your job easier are keys to being successful. Understand how to adapt to those changes and do not become stagnant. Always seek for ways to improve yourself and to be able to offer your clients even more.