Are you interested in taking on a career in real estate?
Working in real estate can be very exciting and a great way to earn a living. But, if you want to do more than just earn a living – if you want to become one of the world’s great real estate tycoons – then you’ll need to work extra hard to separate yourself from the pack.
If you’ve been wondering how to get into the real estate business and actually make money, these tips will help.
Keep reading to learn about the strategies successful people use to gain clients and earn a great salary while working in real estate.
Types of Real Estate Careers
Before getting into the specific steps you’ll need to take for a successful real estate career, it’s important to understand the different types of careers available to you in the industry. Some of the most common real estate careers you can choose from include:
Real Estate Agent
Real estate agents are people who sell homes or other properties on behalf of the owner.
In order to become a real estate agent, you’ll need to take a training course, pass a written exam, and meet state-specific requirements for obtaining a license.
There are two levels of real estate licensure. The first level allows you to work as a real estate agent under the supervision of a real estate broker.
Real Estate Broker
A real estate broker is one level above a real estate agent. They can work independently or oversee a team of real estate agents.
Real estate brokers typically have more education than real estate agents.
There are also additional requirements that a person must meet before they can become a real estate broker. Typically, obtaining this second level of licensure requires additional study, a minimum period of work as a real estate agent, and a more challenging exam.
As with the requirements to become a real estate agent, each state has different requirements for becoming a real estate broker. You can search online to learn more about the requirements for obtaining a real estate broker’s license in your state.
You might also be wondering at this point what the difference is between a real estate agent and a realtor.
The term “realtor” does not refer to a different level of licensure. All realtors have the same license as real estate agents. The difference is the fact that realtors are members of the National Association of Realtors.
“Realtor” is a protected phrase that the NAR owns. In order to join this organization, real estate agents must meet a set of high ethical and professional standards.
How to Get into the Real Estate Business and Make Money
As you can see, getting into the real estate business is fairly simple. As long as you’re willing to take the class and study to pass the exam, you can become a real estate agent. But, if you want to become a successful agent or broker, you’ll need to go the extra mile.
The following real estate success strategies will help you separate yourself from other agents or brokers in your area and become a force to be reckoned with.
Find a Mentor
If you take on a job at a real estate firm, you may have a mentor assigned to you. If you start your career off operating independently, it’s still important to find someone who can coach you through the early stages (and beyond).
Working with a mentor gives you more insight into the business. You also have someone to confide in and learn from when you’re faced with a tricky situation.
Establish an Organizational System
Whether you’re working as an agent or a broker, an organized office is key.
Every successful real estate professional has an organization system in place that makes it easy for them to find what they need and get in touch with the people who matter most to them.
Some agents do this by going completely digital, while others prefer to use paper as much as possible.
Whatever you choose, make sure it works for you. Remember, too, that your state might require you to use a certain type of technology or specific tools.
Establish a Routine
It’s easy to become unstructured when you’re working in real estate, especially since agents and brokers tend to have a lot of independence.
As with any career, though, you’ll typically perform better if you stick to a set routine.
Figure out which tasks you need to accomplish each day and adhere to a set schedule no matter what’s going on in your daily life.
Always Find New Ways to Learn and Grow
You’re never too old or experienced to stop learning. The more you’re willing to grow and adapt to the market, the easier it will be for you to continue to increase your income.
Work with other agents and brokers to learn new strategies and ways of doing things. You never know when you’ll come across a piece of information that revolutionizes your business!
Stick to a Budget
It can take a while to get your real estate business off the ground in the beginning. Make sure you set and stick to a budget so that you have enough money to keep the lights on at home and in the office.
Put Your Clients First
Finally, and most importantly, remember to put your clients first. If you leave a good impression, they’ll be more likely to turn to you in the future. They’ll also be more likely to recommend you to friends and family.
Be a quick responder, an active listener, and a world-class problem solver. Whether you’re helping an investor find great real estate deals or walking first-time buyers through the mortgage process, be sure to go above and beyond whenever you can.
Want to Learn More?
As you can see, it takes a lot of work to make it big in the real estate business. But, if you keep these tips in mind, you’ll be well on your way to earning a substantial income.
Do you want to learn more about how to get into the real estate business? Are you curious about what it’s actually like to work in real estate? Do you want to learn about the latest strategies successful agents, realtors, and brokers are implementing?
If so, then you’ll need to check out our PropertyTalk online forums today.
This is a great place to chat with like-minded individuals working in real estate all over the world. Visit them today to start networking and get all your questions answered!