Almost anyone can become a real estate agent, but can anyone make it as a real estate agent? The stats on the real estate industry shows that not everyone will, but anyone with the determination and a bit of good planning can become a successful real estate agent.
What does it mean to be a successful real estate agent? Only you can set your benchmarks for success. For some, it will mean just paying your bills and saving some money for your retirement. For others, it could mean earning over $100,000 a year. Others may just want to supplement their household income by working part-time. It’s all possible in real estate, but it’s important to be realistic about your timeline.
Step 1: Get Your Real Estate License
Before you can think about trying to make it as a real estate agent, first you need to find out how to become a real estate agent in NY and start practicing. The good news: this is the easy part.
You can start by signing up for online real estate license courses. These are readily available from real estate license schools like RealEstateU, and the best part is that they’re very affordable. Compared to going back to college, earning your real estate license takes a lot less time and money.
Your real estate license school can also guide you through the process of finding a broker and passing your state real estate license exam.
Step 2: Be Prepared to Build Your Business
No business is profitable right out the gate, and that’s exactly what you’re doing. You’re starting your own business, and the business is you.
It takes time to build relationships, create your marketing materials, build your website, find leads, and make connections. Even once you start working with clients, it can take you months to finalize your first sale. And you don’t want to rush; repeat business and word-of-mouth are your best friends. It might take 60 to 90 days to close your first deal.
Think about what you’re going to do in the meantime. You could work part-time or you could work in another real estate-related career.
Step 3: Get Help
One of the most common reasons people don’t make it as a real estate agent is they believe that they don’t need help. They think they can learn it all on their own and make it all on their own.
Maybe you can, but a little bit of help can go a long way.
Who’s out there to help you? Your broker can be an excellent resource. Finding a broker that takes the lowest percent of your commission may not be very helpful if you aren’t making sales. A good broker is one that offers additional training to help you become a better real estate agent.
Working in a brokerage office can also give you access to new networks. Babysitting an open house for a more experienced agent is a classic way to start meeting new leads face-to-face and building your potential client list. Being a real estate agent is all about building relationships.
You need a license, you need a plan, and you need to take help wherever you can find it. That’s the secret to making it as a real estate agent.