Real Estate Career Not Just About Sales

Easy money, flexible schedules, and being your boss seem to be the buzzwords with those considering a career in residential real estate. Sales was intentionally left off the job title. Real estate is moving away from being a sales career to being a resource for consumers that are buying or selling a home.

Mark Nash author 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 real estate market.

-Pre-license education will provide you with knowledge about the applicable real estate laws in your state, but will not prepare you to be 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 home 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 consumers search out full-time agents. Real estate is not a part-time business, no matter what you have heard.

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

-People oriented personalities thrive and succeed in residential real estate. 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.
Tip! Join your area REIA (Real Estate Invesment Association) good deals are at every meeting. Some REIA's have hundreds of members who have properties ready to go that may be just what your looking for.

-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?
Tip! Equity. Real estate investment equity may take several forms.

-Real estate is not about sales, it's about being a resource and developing relationships. In the go-go days of the real estate 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 resource.

-Join clubs, organizations and non-profits. Networking is how your grow your relationships. Meeting new people who know other people with a real estate 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 money to make money in real estate. 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.

-Find a coach or mentor. Beginning in real estate can be lonely as you'll soon realize that you have a minimal support system. Find a mentor within the business and a coach outside it to help organize and plan your business.

Mark Nash's fourth real estate book, "1001 Tips for Buying and Selling a Home" (2005), and working as a real estate broker in Chicago are the foundation for his consumer-centric real estate perspective which has been featured on ABC-TV, Associated Press,CBS The Early Show, Bloomberg TV, Bottom Line Magazine.CNN-TV, Chicago Sun Times & Tribune, Fidelity Investor's Weekly, MarketWatch, HGTVpro.com, MSNBC.com, Smart Money Magazine,The New York Times, Realty Times, Universal Press Syndicate and USA Today.

Tips to Jump Start New Real Estate Agents

The first year in real estate can be rewarding for those that can set objectives, gather information to support and find resources to meet them. When a new agent that I coach doesn't have objectives, information or resources it's a red flag. Being a fresh face in a new career and office overwhelms the majority of we call the future of real estate.

With the growing ranks of new agents, the competition is getting tough. Do your new agents have the support from you, a mentor or your company to find real estate sales rewarding? Here are some tips to jump start new agents.

Set objectives through a business plan. ·Be realistic.

-Set attainable goals to motivate and reward yourself. ·Develop three-month, six-month and twelve-month goals.

-Look short-term the first year to minimize stress. ·Focus on closed transactions, either buyers or sellers.

-Remember buyer's turn into sellers in time. ·Create a marketing plan to develop yourself as a brand.

-Diversify your marketing to include Internet, print, and direct mail. ·Work smart and use good time management skills.

-Evaluate clients and office demands of your time weekly. ·Appreciate people and their personalities.

-Understand that selling or buying a home is a vehicle for people to interact.

-Gather information to position your self as an expert. ·Attend office caravan or tour every week to get an early view of new listings.

-Familiarize yourself with new inventory to share with clients. ·Participate in broker's tour each week to see other offices listings.

-Investigate new listings on broker's tour and with MLS hot sheets. ·Visit public open houses to see what buyers are saying and interested in.

-Understand first hand what buyers are looking at and their feedback.. ·Research current market prices and how they contrast to previous years.

-Seek historical data and how it impacts market conditions today. ·Know all the details of the transaction process.

-Contemplate situations to appear knowledgeable to clients. ·Understand the importance of the Internet in real estate.

-75% of all buyers start their search on the Internet. ·Gather statistics on national, regional real estate trends.

-Learn the big picture, clients will ask you to interpret the future. ·Know your competitor strengths and weaknesses.
Tip! If you are really serious about building something lasting and worthwhile in real estate, resolve to get into real estate for the long term, for a minimum of ten to twenty years. Real estate investment is not something that you jump into and out of.

-Strategize exceeding real estate consumer's expectations in your market. ·Develop an interest in local building, zoning and planning agendas.

-Attend meetings to watch for decisions that could impact your clients.

-Find resources to support business objectives. ·Find a mentor in your office.

-Approach an experienced agent to share their cliff notes for real estate. ·Research low-cost training for floor duty, prospecting and lead generation.

-Contact Real Estate Agent board for training in weak areas of your business. ·Consider corporate relocation a fast track to developing new clients.
Tip! An accountant or bookkeeper. To keep proper books for real estate investments is getting more complicated with all the tax-law changes.

-Inquire about certification to receive incoming referrals. ·Give back to your community through non-profit participation.

-Discover the power of giving back to receive. ·Understand that your client pipeline is your future.

-Communicate regularly with past clients who could provide future referrals. ·Network by meeting new people out of your office, family and friends.

-Join professional organizations outside of your sphere of influence. ·Accept administrative, marketing and technology expenses in your business.

-Budget for business costs from day one in real estate.

Mark Nash is the author of "Fundamentals of Marketing for the Real Estate Professional", "Starting & Succeeding in Real Estate", "Reaching Out: The Financial Power of Niche Markeing", and "1001 Tips for Buying and Selling a Home". Mark is a contributing writer for: Realtor (R) Magazine Online, Broker Agent News, Real Estate Executive Magazine, Princilpal Broker, and Realty Times. His tried and true real estate tips has been featured on CBS The Early Show, CNN, HGTVpro.com, The New York Times, and USA Today. Purchase his books at http://www.1001RealEstateTips.com