Are you thinking of becoming a real estate broker? Here are the steps you must take to build your career from the ground floor.
First, you need to go to real estate school, and there are a couple of options you can pursue. A lot of companies out there specialize in real estate, and you can take classes at night, during the day, or on weekends. They also offer accelerated sessions that allow you to complete your education in as little as five or six weeks. Additionally, several community colleges in the area have semester loan courses specifically dedicated to training people to become brokers.
Second, you must pass two real estate tests—the first given by your school and the second given by the state of North Carolina.
After that, it’s time to affiliate with a brokerage. It’s important to interview at least two or three and prepare yourself with a list of questions to ask them. What’s important to you? The most important factor here is commission splits, or how much you’ll get to keep of your money. You’ll have to work really hard for those commissions, so make sure you understand your brokerage’s policies regarding them.
You also need to understand how their education and training work. As a brand-new agent, you’re an entrepreneur, but you’ll need some guidance, so make sure your brokerage has an aggressive training schedule that helps you understand what you’re doing.
It’s also important to ask about the broker in charge. Are they a competing broker? Will they be in the office and available to answer all your questions? Support is vital to your success.
Next, develop a business plan. Once you’ve picked your preferred brokerage, sit down with the broker in charge and discuss what it will take for you to be successful in terms of lead generation. At this time, you also need to create a recognizable brand for yourself. Think about logos and colors and secure a domain name for your website and an email address that matches it. Your brand will stay with you throughout your career, so think about what you want your professional image to be.
The next step is to think about how to build your business relationships. Call every contact in your phone to let them know you’re a real estate broker and that you’re excited and ready to help them. You’d be surprised at how many people don’t do this, but it’s the very first thing you should do. After all, being a successful real estate broker is based on building relationships, so start with the people you know and who know you.
Finally, just be ready. Opportunity can come at any time—you could be standing in line at the grocery store, attending a soccer game, etc. It doesn’t matter; just be ready. Don’t be nervous about what you don’t know. Lean on your firm for support and have a successful transaction.
I’ve been in this business for nearly two decades and I’ve seen a lot of stuff in my day, so if you’d like to talk more about how to build your real estate career, don’t hesitate to reach out to me. I look forward to hearing from you.