There’s nothing that you should be afraid about becoming a real estate agent. This is, in fact, one of the easiest industries to get into, though not everyone becomes a successful real estate agent. The median salary of real estate agents is around $46,000 a year. This can easily go up to $55,000, depending on the education background of the agent. Some even get somewhere north of $100,000 when you add the commission they get from every sale.
Real estate agents need to be good at taxes. You should be able to advise your clients about 1031 exchange services and why they need to subscribe to one. Your client will appreciate the extra mile you take to aid them in understanding the exceptions and deferments they can take on their annual taxes.
What other things do you need to remember to become successful as a property agent?
It’s Not Always About Sales
Instead of calling yourself a sales agent and being really pushy, why not become a “consultant” instead? As a consultant, you will become the voice of authority when it comes to real estate. By means of compelling blog posts and catchy images, your clients will flock to your website and call you nonstop because they are interested in the listings you have. You might not even have to get off your chair and approach clients. They’ll come to you because they are attracted by your “sales” pitch.
You can tap the valuable resources provided by organizations only if you are a licensed real estate agent. Since there is no such thing as a national real estate license, you have to check your respective state for its licensing requirements. Each state has different requirements when it comes to age, application process and fees, education, exam eligibility, criminal history, and many more. Take a pre-licensing course, pass the exam, and get your license. You will now be a reputable and licensed real estate agent who can represent clients and build a website or social media profile.
Develop a Business Plan
Your business plan should include how you will market yourself and your services. Being a real estate agent is much like running a business. There are permits to file, taxes to pay, and expenses to cover. Do not be too eager to make a sale that you forget about your business plan. It is important to stick to the plan and build a customer base without spending a lot of money.
Stick to Your Budget
There’s no such thing as free when it comes to marketing your services as a real estate agent. You will need to meet with clients (and that involves coffee, at the least). You will design and develop a website. You will write content for this website. You will keep official social media accounts. All of these will need money. They may not be too expensive, but they will require money nonetheless. Stick to a budget that you can afford, making sure not to miss out anything such as your personal expenses and responsibilities.
It is not too hard to start a career in real estate if you know about the industry that you are entering. Never dive into this industry blindsided. You need to know what is expected from you and the kind of commitment that you must bring to the table.