Being a real estate agent can be a lot of fun! Selling different kinds of properties and working with different kinds of clients can be very rewarding. Selling property has the potential to be a very lucrative career choice too, but there is a lot of competition. Setting yourself apart and becoming a sought-after and great real estate agent isn’t easy.
If you’re considering becoming a real estate agent, and you want to be great at your job, these seven tips will help you reach your goals.
Enroll in the Right Courses
Your first step is to enroll in the right courses. There are many programs online to choose from. Just make sure you choose one that is approved by the state where you plan on obtaining your license.
Consider taking a real estate crash course if you want to obtain your license quickly and are already familiar with real estate. It’s also a great option if you want to see if real estate is the right career choice for you.
Traditional classes may be a better option for those who need extra support, or those who want to be fully prepared to take the real estate exam.
Get a Background Check
Real estate agents are required to pass a background check. What it entails varies from state to state and could include a criminal record report and/or a fingerprint check.
It’s a good idea to look into your state’s qualifications before enrolling in a course if you think you may not pass. If you don’t pass the background check, you won’t be given a real estate license, so there’s no point in going through the process if you aren’t going to pass anyway.
If you decide to take classes, the background check should be conducted after you complete your course, but before you take the real estate exam.
Pass the Real Estate Exam
Just like any test, passing the real estate exam can be difficult, even if you’ve taken all the right courses. It pays to know what to study for.
Schedule your test as soon as you can after your courses are complete. It’s much better to take the test while everything is fresh in your mind rather than waiting and taking a bunch of extra time to study.
Taking practice tests can help a lot too. You can discover which questions you struggle with the most and which answers come easily. You may discover that you’ve got the vocabulary down, but you could use a little extra practice going over laws and regulations.
Get On-the-Job Experience
You still have a lot to do in order to become a great real estate agent, even after you have passed the exam! Your next step is to get on-the-job experience.
Not only is it a good idea for you to work for an established brokerage when you get your license, most states require you to do so. It gives you the opportunity to work with a team of real estate agents who are able to answer your questions and provide you with advice when you start out.
If you plan on striking out on your own, consider searching for a non-traditional brokerage. They still technically function as a team, but they also allow for more independence and the ability to focus on an area of special interest.
Learn About Your Local Market
A house isn’t just a house. Every area of the United States, and the world, have very different markets. It’s a good idea to take the time to understand your local market.
For example, in the United States, California real estate is quite different from other places across the country. Houses are generally more expensive, and there don’t seem to be enough to go around. Homes often sell for more than their listed price, but with wage stagnation and mortgage payments taking up 50 percent of the average person’s income, the housing market crashes hard when it does.
Knowing things like this about your particular area can help you become a better real estate agent.
Consider a Specialization
All real estate agents are able to work in any area they choose, but many decide on an area of specialization. Not only does it make you a bit more unique in a competitive market, it also enables you to focus on the area of real estate that’s most interesting to you.
Some specializations you may want to consider include:
- Residential real estate
- Commercial real estate
- Property management
- Real estate appraisal
- Real estate counseling
Some of these areas require additional certifications, so it might mean taking another class and taking another exam.
For example, if you want to work with commercial real estate, you might become a Certified Commercial Investment Member (CCIM), while real estate appraisers would hold Residential Accredited Appraiser (RAA) and General Accredited Appraiser (GAA) certifications.
Consider Becoming a Realtor or Broker
Most people don’t realize that there is a difference between real estate agents and realtors. The difference is just that realtors are members of the National Association of Realtors (NAR). Not only is this a great professional designation to have, but it also provides a plethora of resources to its members and their communities.
You may also want to consider becoming a real estate broker. In addition to being an agent, they also oversee other agents. Brokers often own their own real estate brokerage, making it a great option for real estate agents who also want to be business owners.
It requires advanced licensure, so additional courses and exams are needed in order to become a real estate broker.
There are so many ways to make an impact in the world of real estate! Whether you envision helping families buy their forever home, you want to work with business owners on obtaining commercial property, or you want to work behind the scenes as an appraiser or a counselor, there are many opportunities for you to do what interests you most.