If you're like many people who have recently made the decision to embark on a career in real estate, you're undoubtedly looking forward to enjoying a long and rewarding career. However, you may also be concerned that getting your real estate career off the ground is going to be more challenging than you originally thought. Fortunately, the real estate picture is healthy in most parts of the country, which makes it a great time to jump-start a fledgling career. Nonetheless, agents who are just starting out have to prove themselves even in hot real estate markets, and it can be tough to get a foothold in places where competition is high. It's a Catch-22 — prospective buyers want agents with experience, but it's tough to get experience when buyers overwhelmingly prefer to go with more experienced agents.
A surprising amount of new real estate licensees fail within the first two years on the job. Following are three smart strategies designed to help new real estate agents optimize their careers.
One of the biggest mistakes many new agents make is thinking that they can sell real estate part-time while holding onto a full-time job. The thinking is that they'll be able to transition into a full-time real estate career. While this strategy may look good on paper, prospective buyers prefer to work with agents who have open availability, and it's common knowledge in the profession that home sales often happen on a spur-of-the-moment basis. If you're unable to show a property because you're busy at your day job, the buyer will probably simply call another agent.
This can be a difficult obstacle to get past, especially since earnings for agents are typically low during the first year or so. Having a serious backup reserve or an understanding, supportive spouse helps reduce the sting. If it's just not possible for you to get by without a guaranteed source of income, working part-time is a better choice if you can pull it off.
Consider Secondary Markets
New real estate agents often make the serious mistake of limiting their careers to sales of residential housing and commercial properties but failing to consider secondary markets results in income loss as well as narrows your overall horizons and industry knowledge. Secondary markets include property management, appraisals, and relocation specializations. Each of these offers added insight into the real estate industry that will serve you well as you progress in your career, and they have the added benefit of providing you with significant networking opportunities.
This approach can also help you generate a steady income while getting your sales career off the ground.
Although real estate agents have traditionally aimed to grow their careers organically by word of mouth and networking, the digital age has changed the face of how most the vast majority of people do business, and an online presence is important to anyone hoping to achieve success no matter what field they're in.
Your online presence should start with a professional webpage designed to put your best self forward. Include quotes from happy customers and clear, concise photos, and make sure it contains enough search engine optimization (SEO) strategies so that it comes up on Google's first page when prospective customers perform an online search for available agents in their area.
Inviting customers to provide online reviews is another way to ensure that your name comes up during searches for real estate agents. Cultivating a polished and professional social media presence is also an essential part of optimizing online resources for the purpose of promoting your real estate career.
Learn more about real estate agent advertising from a local marketing firm.