Being a real estate agent can be one of the most rewarding jobs in the world. You get to help people find their dream home, deal with paperwork and contracts. Also, provide excellent customer service, invest in your own business, and more! But while being a real estate agent is a great profession, it’s not always easy. In this article, we’ll cover what you didn’t know about being a real estate agent so that you can make sure you’re prepared for all the challenges ahead.
First
You need to know that being a real estate agent is not for the faint of heart. You’ll have days when you’re up at all hours of the night dealing with paperwork or showing a house. Besides, some days are going to be full of frustration as customers come in demanding their way. That’s why it’s so crucial that you learn how to handle yourself professionally on every call, email, text message, and face-to-face meeting.
Second
If your goal is financial independence, then there are two things you should always focus on; building volume and saving money. Building volume means talking to more clients than anyone else in your company (and making sure that they close!) while saving money means growing your business without spending more than you earn.
Third
There are a few things that people don’t know about being a real estate agent, and they all have to do with the paperwork side of this profession. The first is that new agents often ask for too much money upfront when buying leads (or even selling them!), but in reality, most customers only want calls or emails from one agency per day. Second, customer service isn’t about answering phone calls and texts. It also means making sure your company has friendly hours so people can call during open hours bothering no one. Some companies will try to charge you close to $100 per month if you use their CRM system, which is an additional expense on top of your monthly office lease.
Fourth
The average commission rate is between six and seven percent. – You can be a real estate agent without owning your own company, as most are independent contractors. There are two types of agents: buyer’s agents (who specialize in helping buyers) and seller’s agents (who specialize in assisting sellers). Not everyone wants both services!
Fifth
You can go to a real estate license course and take the licensing exam to become a licensed agent. You do not need any prior training or experience, but you will still have to study for your test using books available from most bookstores. After completing the coursework, it usually takes about two months before you receive your certificate of completion and start applying for jobs as an agent.
Sixth
It takes at least three years to get the experience needed for success. – Competition is high these days, so you must stay on top of your game by constantly reading up on new trends and technologies. Agents who have been around a while might not know how to use them very well yet because they came out only recently.
Seventh
There’s a lot to learn when you’re first starting with this profession. But the good news is that it doesn’t take long before all these little details start coming back! It may be a challenging job sometimes (and in any career!), but being able to help people find their dream home and work for themselves makes it worth every bit of hard work.
Eighth
Agents typically work with sellers for several months before listing their property because it takes time to gain the trust of somebody who’s putting their home on the market! Your commission rate is determined by your experience level and skill set, ranging from five percent up to 40%. A typical agent starts around six or seven percent, but commissions increase as they get more skilled. Some agents indeed make well over $500,000 per year if they’re good enough.
In Closing
Being a real estate agent can be one of the most rewarding jobs in the world. You get to help people find their dream home, deal with paperwork and contracts, provide excellent customer service, invest in your own business, and more. But while being a real estate agent is an amazing profession, it’s not always easy.