Housing Job Not simply About Revenue

Easy funds, flexible schedules, and remaining your manager read more about the project here appear to be the buzzwords with those thinking about a profession in residential property. Sales was deliberately left off the work title. Real estate is moving away from staying a sales occupation to currently being a resource for consumers which have been acquiring or providing a house.

Mark Nash creator of Starting & Succeeding in Real-estate and three other real-estate books and a regular columnist for RealtyTimes.com shares the inside story on how begin and prosper in today's transitioning housing market.

-Pre-license education will provide you with knowledge about the applicable housing laws in your state, but will not prepare you to get successful in residential real-estate.

-The first office you choose to hang your real estate license in will greatly influence your success or failure in the business. Visit at least three offices and meet with the managing broker before making a decision.

-Technology skills are a must. Over seventy-percent of all property buyers start their search on the Internet before contacting a real estate agent. Web site development, text messaging, virtual tours are the bread and butter of real estate today.

-Savvy shoppers search out full-time agents. Property is not a part-time business, no matter what you have heard.

-Understand that successful property agents work fifty to sixty hours a week, many times at odd hours and holidays. You have to get available when clients want to see properties or list their residence, which is after normal business hours.

-People oriented personalities thrive and succeed in residential real estate property. Patience, level-headed, and pleasing agents are the top producers.

-You're an independent contractor. Many new agents think their broker will build their business, you are a business within that brokerage business. Think like a sole-proprietor and develop a business plan.

-Look and act like a professional. Many new agents are too casual in their demeanor and dress and this spells failure. Consider that home buyers and sellers are dealing with their largest asset when dealing with you, is their accountant or doctor showing up at appointments with them in flip-flops or tennis shorts?

-Real estate is not about product sales, it's about being a useful resource and developing relationships. In the go-go days of the property market, many new agents were order-takers. Now with a transitioning market, you need to provide clients with information and strategies. With less motivation and energy in markets, building relationships over the long-haul positions you as a real-estate source.

-Join clubs, organizations and non-profits. Networking is how your grow your relationships. Meeting new people who know other people with a property purchase or sale need will grow your business. You won't meet new people holed up in your real-estate office or your living room.

-In takes income to make revenue in housing. Many new agents are tapped out financially by the time they pay for pre-license education. Factor in start-up costs such as errors and omission insurance, Board of Realtors(R) and Multiple Listing Service dues, and business marketing costs. Health insurance is available through national real estate association. Plan on no income for 6-9 months.