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Being that this year has been a booming year in real estate and as a result many people are looking to become real estate agents.
What does it take to be a real estate agent?
In today’s broadcast, Deborah Elliott-Shultz is going to honestly and truly going to give you the low down. Why would she do this? Deborah is now in her 16th year but wishes somebody had sat down to have a heart-to-heart with her about the real estate business. But nobody did. So, that’s what she wants to do today.
Deborah bought her first home at 19 years old. In the garage of this house that needed some care, there was a taped fridge.. When tore tape off, maggots rolled out. Not knowing why so many maggots would be in the fridge and the stink that accompanied them, she ran to next-door neighbor to call the police. As it turns out, the HAZMAT equivalent were called to come to take away the fridge and its contents.
As years progressed, Deborah would buy dumps and turn them around. Later, she became a real estate agent.
Why do you want to become a real estate agent? A real estate agent should have passion to sell homes. It’s not all about dressing up and driving around showing clients home. It is important to look nice and dress decently because that’s part of the job, but it’s only a small part of the job.
What’s the difference between a real estate agent and a Realtor? Both pass exams and are licensed by the state. But a Realtor is part of a local and national organization that lives and abides by a code of ethics. Go to realtor.com to find the code of ethics.
You need to have a reason of why you want to become a real estate agent.
Also, if you want to become a real estate agent, make sure you have a two-year stash of funds. There are a bunch of fees and small paychecks to become a REA. You have to treat this like a business, not a hobby. If you want to play with real estate, it would be a lot easier to have a real estate agent helping you. A real estate agent is on-call, even on weekends and holidays.
Becoming a successful realtor is not an easy task. There are some realtors in the area who are very successful. But they’ve been in the business for awhile.
Some realtors prefer working on a team. If you belong to a team, you’ll be able to have back up for appointments, emergencies, holidays, or time off. Being a realtor is part of the service industry and your hours are not for you, they’ll be for your client base.
Are you willing to work long hours? During the recession, there were days where nothing happened. But not anymore. Currently, Deborah works 10-14 hours a day.
You have to have an abundance of patience to be in this business. You’ll be working with not only your client, but also with a title company, lender, the other real estate agent, inspectors, etc. And let’s not forget negotiating. You’ll also be other aspects of the business you’ll be juggling a lot. Mentoring, marketing, etc.
Just remember if you’re going to be doing a couple of deals a year, you’ll need to be able to cover your fees. Dedication and true commitment
You will need a sphere of influence. Sit down and write down everybody you know, then call a couple of them and ask them “Do you think I’d be a good real estate agent?” Then be willing to listen to what they say.
87% of all real estate agents fail within the first 3-5 years. Point? The success rate is very, very low.
You have to have the willingness to be mentored. If you’re stubborn and don’t want to be mentored, then don’t get into this business. There are things that happen in dealing with the buying/selling of homes that need the experience of a more seasoned real estate agent. That’s where having a mentor is extremely helpful.
Most people don’t make it as a real estate agent because they are interested but not committed. Other reasons it may not work out is the new real estate agent is not strategic, there is no plan, and they have a fear of making a mistake and don’t ask for help because of their desire to look good.
We’ve discussed mostly the roadblocks and pitfalls of being a real estate agent. But there are some good things about becoming an agent, as well. What are the good things about becoming a real estate agent? You get to meet a lot of people, take continuing education classes, join lots of local groups, learn a lot about real estate, and enjoy the camaraderie of other agents.
MiaBella Properties is looking to expand by inviting real estate agents to join their team. If the guidelines Deborah has mentioned above are something you can follow, call Deborah at (719) 641-1357 to find out if it might work.
Are you interested in finding out about Deborah Elliott-Shultz and MiaBella Properties’ flat listing fee of $3500? Go to cityofcs.com and follow the real estate links to learn about all we do to sell your home. And, have you heard about our buyer’s rebate? That’s right! We give back 1/3 of our commission to help you with your closing costs or to buy new appliances which will be reflected on the settlement statement, and you’ll get it at closing along with a W-9.
If you have any real estate questions, or to find out how MiaBella Properties can help make your real estate experience more affordable, call Deborah Elliott-Shultz at (719) 641-1357.