Jessica Donnovan asked:


I can already see the gleam in your eye when you read the simple words, “Becoming a Real Estate Agent”!  You’re not alone by any means, that very same phrase brings smiles to the faces of countless people around the globe as they day dream about how their lives would be different if they were a real estate agent.

Its funny really, you talk to the majority of real estate agents and they will tell you that its just another job, no more than another means of putting food on the table for their families and yet many of us still tend to place real estate agents high up on top of that fictitious shining pedestal, which seemingly makes it more difficult to obtain.

The agents have it right though, by allowing yourself to see real estate as a job rather than a dream, you will find that the journey is not nearly as daunting when you reach the end.  There is really nothing glamorous about becoming a real estate agent, you start out in the trenches and work your way up just as you would in any other position, what is glamorous is the potential for making a great income.

While most jobs limit you to the amount you can make by paying hourly wages, witholding raises and career advancement you know where this is going, real estate is completely the opposite.  Real estate agents are payed by commission, in other words a percentage of the sales they make, sounds great right?  It is unless you don’t make any, or very few sales, then you will find that a commission based career lacks in the income department.  You see with real estate you can make really great money, really poor money or something right in the middle, but the amount you earn depends on only one thing, you!

Each time you come across a real estate agent that is regularly making huge checks and living the fabulous lifestyle don’t start to think about how great it would be to have that job, but rather how hard that person must work to make that kind of money.  If that particular person were not working their tail off day in and day out, they would be just another faceless agent struggling to make ends meet, and believe me, there are a lot of them out there.

You see, this article in by no means meant to discourage you from becoming a real estate agent but instead open your eyes to the reality behind the glamour that many of you have been blinded by.  Sure real estate agents are rewarded well for their hard work, but if the hard work isn’t there neither are the rewards, just like everything else in life.



Debbie

Brien M. Satzinger asked:


If you like money you might want to become a real estate agent. If you like working for yourself and want to make a break from a corporate life then sure, it might be an option. Let’s take a look at what being a real estate agent really means.

I’m going to assume since you are reading this that you really want to make it, you’d like to be able to afford the good things in life or you have some other benevolent goal in mind. In real estate sales you can make it. It’s possible to realize the sky as your true limit. However, you probably should not do it. You should probably pack up that pipe dream and put it back on the shelf. Here’s the one reason why: discipline.

In this business if you don’t have discipline you’re not going to make it. Being an agent is not about creating wealth through a hobby. If you really want to succeed you have to approach every aspect of it as a business.

Even though it may not be a brick and mortar store front you can see and touch with your hands it has a product and service you have to sell just like a retail store sells goods. Our phrase for getting people into a store to browse is called lead generation. Our inventory is houses that are being sold or about to be. Our service is helping them buy or sell their home.

If we don’t lead generate to get people in the store then the customers won’t use our service to buy or sell a home, we’ll close up shop. If we don’t manage our finances properly then we won’t be able to advertise and get people in the store or service them if they come. If people come in but we can’t service them properly then we’ve wasted our money and bad reputation spreads faster than good. Every one of these areas requires discipline: lead generation, service and managing our finances.

Everyone loves a large pay day but without these foundational disciplines at work they will be few and far between and we’ll more than likely burn our selves out. If these disciplines are at work then we will more than likely be successful and living the life we day dream about.

Lead generation

Lead generation is the lifeblood of any real estate venture. Simply put, a lead is someone who may want to buy or sell a home. It sounds pretty simple, doesn’t it? Though the real question follows: How do I find people who want to buy or sell a home? It’s actually not a direct approach.

Some agents look at it like they have to meet people and that’s when they’ll either be a lead or not. The real treasure comes when we collect the names, addresses and phone numbers of everyone we know and we stay in constant contact with that person. Keller Williams publishes a statistic that for every 12 people we’ve met and effectively market ourselves to we should be able to generate 2 sales. As an agent we must be disciplined to meet people and market to the ones we know. This is how we generate leads and if we have our skills honed we’ll produce a constant income.

Servicing Our Clients

Do you know what to do to sell someone’s home? If you had a buyer do you know how to consult with them to figure out their needs and the best type of home to show them? As a professional agent we should be able to answer these questions and do them well. We must be disciplined in our studying and learning to develop our skills.

Finances

We must run our business based on a budget. We must be disciplined with money management and with our expenses. If we do not then how can we sustain the growth of our business? It’s imperative we watch every dollar closely especially with marketing and service expenses. As agents we watch our numbers closely. If we don’t then we’re only mediocre and who wants to settle for that? This is a very important key to any successful business.

The broker/company you sign on with as an agent should provide ample training on building your own business and it shouldn’t cost you a lot to get started. When shopping brokers make certain they provide training on how to start and grow your business.

Selling real estate can be a rewarding career. It’s worth the dedication and hard work required to achieve great success. Some agents net over a million dollars a year. Most agents sell a few houses a year and treat it as a hobby. Which one will you be?



Marcus