Fiona Marie Yasser, Negosentro | Did you know that 87% of all real estate agents fail at running their own business within the first five years of starting it?
That’s definitely a startling statistic if you are considering getting your real estate license.
However, it is important to remember that there are things you can do to help ensure your success.
And, it is not to simply pass the real estate license test.
Sure, passing the real estate test is important. But with some solid real estate education, you are sure to pass.
The problem is, too many people focus their attention on passing the real estate test and don’t think about what comes after.
That’s why today we are going to look at some of the best things you can do to help become part of the 13% of agents that close the majority of real estate deals in the nation.
1. Have a Backup Plan
Okay, getting into a new career with the mindset that you will fail is not recommended. However, it is not recommended you jump into something new without a backup plan should the unthinkable happen.
Since statistics surrounding real estate agents are not entirely positive, having backup plan in place for just in case is going to lessen the stress that often comes with starting out as an agent.
2. Create a Business Plan
It is a good idea to have a business plan drafted up so you have some direction when you get started.
Here are some great ideas that will get you started so that after you become a licensed real estate agent, you can hit the ground running:
- Meet with industry professionals and get advice from them
- Start a rolodex of potential clients because you can never have too many prospects
- Create a budget of costs associated with building your business
- Come up with a marketing plan that brands you and your budding business
- Determine potential commission results so you have an idea of expected income
In the end, having a plan in place as your begin your journey is going to bring you much more success.
3. Become an Expert
There is nothing worse than hiring a real estate agent that has no idea what they are doing.
Do not let this happen to you.
If word gets out that you have no experience selling houses or information about the areas you are working in or about the current market, your reputation as a real estate agent will be ruined before you know it.
Take the time to understand how the real estate industry works. Know that your clients are expecting you to allay their fears about purchasing a home for themselves and their family.
Being able to educate your clients about the purchasing process, lend insight into current market trends, and seal the deal when all is said and done is what will allow you to succeed, even as a novice agent.
4. Become Tech Savvy
There is no denying that technology is taking over most businesses in one way or another. Tap into modern technology and reap the benefits for an edge against your competition. Use technology to stay in touch with clients, map out ideal homes for sale, track your income and expenses, and much more.
In the end, there is a lot more to becoming a real estate agent than passing the real estate test. Being a real estate agent takes a lot of hard work and persistence. However, if you start with a plan, you are already ahead of most people in your same position.