Don’t let being wet behind the ears in your real estate career leave you in hot water. There are a few real estate business tips every newbie should know to ensure a good start.
Planning for success
Your first year in real estate requires careful planning to avoid sidestepping key ingredients in your efforts to make your first buck. Where should you start?
• Find a brokerage
Your brokerage of choice may vary depending on your knowledge, mentoring needs, and financial expectations. Be sure to visit several before making this important decision.
• Expect the “split”
This can be as low as 60/40 when you start out and require a lot of handholding, but usually rises as you reach sales goals. Standard splits for successful agents are typically around 80/20, but can go as high as 90/10. (Don’t forget the “split” with the agent selling the home as well!)
• Come well-equipped
In addition to your license and Board of Realtors dues, you’ll also need access to MLS, a laptop, smartphone, automobile, cards, signage, and professional clothing.
A look ahead
As your real estate career matures through this first year, don’t forget to also take great pains to learn your neighborhood in depth – insider info can be key to cinching sales. Continue to hone listening skills to better understand their “want list” necessary to create that must-have vibe. Don’t let your marketing efforts slack – create a plan that includes daily goals, as well as a path to developing a strong online presence. You’ll soon find your niche, which will allow you to build that nest egg you’ve been dreaming of. And never overlook the importance of continued learning, no matter how “seasoned” you think you are – knowledge will boost your brand and your budget.
Do you have the real estate business tips you need to ensure a happy, healthy career? Set off on the path to success with Properties Online today.