Getting started in real estate isn’t an overnight process. It takes time and effort to learn the ropes, acquire your brokerage license, and build a base of clientele. Yet, by being strategic about how you approach the process, you can quickly sail through requirements and establish a career within the field. By speaking with local experts, you can ace the licensing test and then join a realty brokerage firm. From there, as you build your career, continue marketing yourself until you’ve established your own real estate business.
In this guide, we’ll explore these three clever methods and help you get your footing within the industry.
1. Find a Mentor
One of the best ways to get started in real estate is to connect with somebody who’s already working within the industry. This could be a friend, family member, or someone you’ve met through a networking event. Ask this person to be your mentor as you study for the licensing exam. Your mentor can provide you with resources, such as textbooks and online courses, to help you prepare for the test. They can also answer any questions you may have about the industry and how to get started working within it. Ideally, you should ask them to explain their entrance into realty and stress that you want to better understand your state’s licensing requirements.
Many real estate mentorships can also begin by building a connection from a transaction that you helped facilitate. If you’re trying to move chess pieces around within your existing real estate portfolio, you can consider offloading some properties and forming new relationships along the way. Considering selling a house to a friend in the industry that you want as a mentor. Through the sale, you can free up capital, help your friend, and enable the relationship to blossom into a powerful mentorship.
2. Get Licensed and Join a Reputable Brokerage
After you’ve passed the licensing exam, your next step is to find a broker. A broker is somebody who owns a real estate brokerage firm and is responsible for managing agents. You can find brokerages by searching online or speaking with your mentor. Schedule an appointment with the broker to discuss your career goals and what you’re looking for in a brokerage. For instance, if you want to specialize in residential real estate, you’ll want to find a firm that deals primarily with home sales.
During this meeting, the broker will also likely ask you to provide them with your resume and any references you may have. If they’re interested in hiring you, they’ll provide you with a contract to review and sign. Working as a realtor can help you pay the bills and become established within the real estate industry. The average real estate commission will vary depending on the market and home values in the area. While working on only commission can be extremely challenging, once you are on a roll, it can turn into a career worth pursuing.
3. Market Yourself to Build a Base of Clients
After you’ve joined a brokerage, you can start marketing yourself to build a base of clients. There are several ways to do this, such as creating a website, passing out business cards, or writing blog posts. Another option is to join a local networking group or meetup. You can also get involved with your community by volunteering at events or fundraisers. These activities will help you get your name out there and make connections with potential clients.
Do your best to offer real estate services to different types of people. Buyers and sellers have very different needs (and goals). Certain sellers may need to sell fast because they are moving out of state. Listen to their needs and be a problem solver for anyone that you’re providing services to. As you gain experience, real estate gets easier. You learn about the different ways to sell a property. It’s important to choose the strategy that best fits your real estate goals.
Although it can take time, by working diligently and networking with your local realty experts, you can quickly establish a career as a realtor. To learn more about buying and selling homes in the Jacksonville area, contact our experts at Henry Buys Homes. We can provide more information and help you get started in real estate today.