The Practical Guide to Becoming a Real Estate Professional
The real estate industry remains quite lucrative for anybody aspiring to join. If anything, the stability of owning a property has only made real estate more sought after. Aspiring entrepreneurs, newlyweds looking to start a family, and many others need property to prosper. The right real estate professional can give them just that.
That said, entering the industry is far easier said than done. It remains highly competitive, and the skillsets required can take months to learn, and years to master. It’s also a very social job, requiring you to talk with partners and customers every day. Thankfully, the experience of countless real estate professionals means there are fundamental tips and tricks that any person can follow.
Why Did You Join Real Estate?
Many enter the real estate business with no real plan. Some believe it’s a field to make tons of money in a relatively short time. Others think it’s a respectable job that elevates their status among their peers. Many adore the freedom of being their boss and the flexibility to approach the business however they see fit. Whatever your reasons, you need to be sure you’re committed to the career.
Don’t just think about the whys of your real estate career. It’s just as important to understand the hows of what you plan to do. If you’re pursuing a part-time career, then you will have to do some trick balancing of work, life, and other work. For those who want to go full-time, they may need to tighten their financial belts. Returns in real estate aren’t going to be instant, after all.
Understanding your "why" and “how” will guide your decisions and help you stay committed as you navigate the ups and downs of the industry.
Skills You Need for Real Estate
Now that you have an understanding of why you want to be in real estate, it’s time to gauge how well you’ll transfer over. With the shifts in technology and ways to transact with customers, real estate proves to be a skill-intensive job. These are some of the fundamental skills you’ll want to hone after becoming a real estate professional.
Communication Skills
Proper communication is among the most essential skills required of a real estate professional. From clients to business partners, professionals must handle them all with tact and patience. Building relationships with others is how professionals build their reputations, brick by brick. A wide network means more clients and people willing to work with you.
Sales and Marketing Expertise
Real estate is, naturally, an industry built on sales. A background in any kind of sales job will help, but experience wins overall. Selling real estate to friends and family is a solid way to gain experience in a relatively safer environment. A career coach can also help you handle the more technical aspects of real estate work, should you need it.
Market Knowledge
The market is always shifting, and the kinds of properties people want will depend entirely on your local economic situation. Whether times are tough or fruitful, real estate professionals need to keep a pulse on the market’s response. Authority comes from knowledge. Authority comes from knowledge—a deep understanding of the real estate market, whether in multifamily, high-value properties, or other sectors, is key to maintaining that authority.
Time Management
Unlike your typical 9 to 5, real estate work can happen pretty much anytime and anywhere. Late-night calls or early morning meetings will be the norm, especially for customers on a busy schedule. Real estate professionals need to be on top of their schedules while remaining flexible for great sales opportunities.
Tech Savviness
A phone call isn’t going to cut it these days. Social media pages, emails, SMS, and websites are the name of the game. These qualities make customers take a real estate professional far more seriously. A foundational knowledge and adaptable mind for tech works wonders for success in this field.
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Getting Started in the Real Estate World
Starting a career in real estate involves several key steps, which are detailed below:
Check Your Local Requirements
Every state has different requirements before a person can become a real estate professional. These tests and conditions exist to ensure the real estate world remains full of dedicated professionals with the proper credentials. Make sure you fit that mold when applying, and stick to it forever after.
Choose a Brokerage
If you’re new to the real estate game, joining a brokerage is the safest way to get started. You gain access to relatively steady pay and more importantly, a bevy of experienced professionals to be mentored by. Find someone willing to help you and listen to their advice.
Build Your Network
Real estate isn’t just about buildings. It’s also about building. Specifically, the bonds with customers and partners. If you’re just starting, networking can be as simple as talking to fellow realtors or befriending your customers, even when the talk isn’t about properties. Even in the age of social media, few things can beat the power of word-of-mouth marketing.
Develop a Marketing Plan
Speaking of marketing, the benefit of social media and word-of-mouth is synergy. When people hear about you from a happy customer or helpful partner, they need somewhere to go. Your marketing plan should involve a strong social media presence and website. Even just being a name in the back of someone’s mind could mean a sale in the future.
Final Thoughts
Real estate professionals never really stop learning, but they do stop being beginners. By following the guide above, you’ve started on the right path. There’s so much to learn, and so many nuances unique to your area. As long as you have these fundamental steps taken care of, you’ll have an easy time taking advantage of these opportunities.
Additional Readings:
Meet The Writer!
Myrtle is a journalism major, a social media marketer and is now exploring freelance writing. She's fond of anything related to health and wellness, and when she's not writing, you'll find her doing long-distance cycling, ultramarathons, hiking, or in a local cafe enjoying a good cold brew. You can reach her at myrtlebautista.writes@gmail.com.
