Are you looking to jump into the wonderful world of becoming a real estate agent?
Welcome to the club. At the current time, there are over 2,000,000 real estate agents in the US. However, there is plenty of room for another great agent. Trust me. I have been an agent since 2002. I have been through the ups and downs of the market and learned many lessons. I can tell you one of the greatest lessons I have learned and the reason why I coach agents and absolutely do not worry about agents in my own market taking my real estate training and stealing my clients, it’s because I learned a long time ago that business is unlimited. There is more business available than anyone can handle if they worked 24 hours a day for the rest of their life. For example, I have been coaching agents that are in my direct market teaching them the same exact strategies that I use. The agents that I am coaching are selling millions of dollars in real estate while my business continues to grow and grow. So, while these agents are experiencing great success, my business continues to thrive as well. Is there a chance that they could take a client or two of mine? Sure. But, if I am doing what I am supposed to in terms of crating new business everyday, I have nothing to worry about. I will go get 5 more clients to replace the one I lost. Losing deals is a huge part of this game. You must grow numb to losing deals and use those experiences to drive you to find more business.
I know I probably got off subject a little bit here, but I really care about you and want you to be prepared for the reality of this business. If the roles were reversed, I would want the same from you. I need cold hard facts to work with so that I can tackle situations head-on. I am all about complete domination in the least amount of time, and the only way to get there is to become as knowledgeable as you can about your field as soon as possible.
Back to How to Become a Real Estate Agent
The first thing you have to do is decide that real estate is what you want to do. There are many things to consider, but you need to know the pros and cons. The cons are that it costs money to start and you have to work very hard (for hardly any money, if any, in the beginning). The pros are that it is cheaper than going to college, the opportunities are unlimited and you are your own boss. Listen, real estate is so rewarding and worth the tough beginning. You just have to fight through it learning stages and understand how it all works. This understanding comes from both researching/reading and experience in the market. You must get out there and try to make a few deals happen so that you can start learning the process of how closings actually come to be.
1) Pick Your State
You can only be licensed as a real estate agent by state. Each state has different laws that they go by in the real estate business. Once you become licensed in one state, you can then follow the process to become licensed in other states if you so wish. But, the first step to take is to decide what state you want to sell real estate in.
2) Take the Pre-License Real Estate Course
The next step is to research online about your states pre-license real estate course. Most states will allow you to take this course online or in-class. Either way is fine and just a matter of personal preference. If you want to get done with this part quicker, you might want to take the course online as you can finish it as soon as you want whereas the in-class will be subject to finishing as the classes are scheduled (normally once or twice a week).
3) Take the State Exam
Once you pass the pre-license course, it’s time to sign up for the state exam. You have one year to take the state exam from the time you pass the class. If you fail to do this, you have to start over and take the pre-license course again. You can take the state exam as many times as you wish. It does cost money to take the test. So, you want to pass it as quick as you can.
4) Find a Company to Work For
You will only have 90 days once you pass the state exam to find a brokerage to work under. I would suggest interviewing several brokers before making a decision. Once you find a broker to hang your license under, you have 180 from the time you passed your state exam to take the post-license course. AS soon as you pass the post-license course, you will then be given your Salesperson’s license by your state real estate commission.
Now, you are official. Actually, the moment you hang your license under a broker, you are ready to legally sell real estate and make a commission. That will be the time to find a great real estate trainer.
Closings are the most Consistent things in the Universe
Most people are afraid of real estate because they don’t think it consistent. The truth is that even in the worst of markets, closings happen everyday. People are going to buy and sell real estate, period. Once you understand that closings happen everyday regardless if you are the agent having them or not, you then must begin the journey of reverse engineering how closings happen. I will give you the best advice about how to have lots of closings. Every closing came from a conversation that was then converted into a relationship. Therefore, the agent who has the most conversations, will in turn have the most closings. The problem is that people are scared to talk to people they do not know. This is why 80% of agents do not survive the business.
Building relationships with niche property owners is the best strategy to establishing yourself in the market as a force to be reckoned with. Be careful what you listen to as a new agent. There are lost of pitfalls. Pay close attention to the successful agents and what their habits are. Only listen to people who have real credentials in the business.
If you have any questions, contact me. I am very easy to approach and talk to…click here
Ricky Carruth, RE/MAX of Orange Beach, AL