Do you dream of becoming a Real Estate Agent?

To be a successful real estate agent is combinations of investing time in education, passing state and national licensing exams and researching a broker who can help you get your first clients. But that's not all there is to the industry because there are a lot more to deal with. Here are some of the more overlooked aspects of the real estate business. 1. Get Educated No matter which state you live in, you must take required courses for your license application to be approved. However, state requirements differ greatly. For instance, Texas requires 180 hours of education including a background check. Contact your state's real estate commission for your state's requirements for licensing. Some real estate agencies have specific education requirements. Thus, you may have to take an additional course after being hired on with an agency. 2. Choose a Brokerage A real estate brokerage is the agency or office from which real estate agents and brokers work. Since working with a broker is a requirement in order to practice as a real estate agent, you will need to contact a broker before graduating from your training course. Brokers have at least three years additional real estate training, and can guide you through questions you have when it comes to working in the field, as well as listing and selling homes. When you look for a broker, consider the size of brokerage, its reputation and additional training offered. Check broker’s reputations by reading online comments, asking friends and neighbors who they've had experiences with and getting advice from your instructor on choosing a brokerage. Another way to learn more about a brokerage is by carefully crafting your interview questions. You may ask some of the questions below. • Does your brokerage require additional coursework? • How many years of experience do you have? • Is there someone within the brokerage I can work with a majority of the time while learning? • What is your client contact style for developing leads? • How long does it take on average to earn commission checks? Whichever answers are acceptable to you can guide you in choosing your brokerage. 3. Get Licensed Real estate licenses require the passing of state and national exams. In addition, you may have to provide a criminal background check. Between the exam and license fees for a real estate salesperson, you can expect to pay at least $200, prices vary from state-to-state though. 4. Develop a Real Estate Agent Budget Becoming a real estate agent isn't cheap although it's cheaper than entering many other professions. Startup fees are estimated between $1,500-2,000, which should be divided between licensing courses, business cards, signs and advertising and association fees – not counting additional exam fees. Since real estate is a commission-based business, you'll also need enough money set aside for you to get by for a few months. These are approximations of actual costs because they differ depending on individual choices and state-by-state costs. 5. Make the Realtor/Real Estate Agent Decision In order to utilize the title "realtor", you must join the National Association of Realtors (NAR). This can be done by choosing an affiliated brokerage as well as attending a set number of meetings designated by your local chapter. 6. Build Your Client/Referral Portfolio Suggested ways to build your portfolio: a. Get a mentor, and use your personal network. The best arrangement for a new agent is to find a mentor in the real estate agency you choose who guides you towards buyer/seller contacts. You'll learn the profession from your mentor, while gaining your first commission checks. b. Also, asking your friends and family for referrals of people who are considering buying or selling a home is a great way to begin networking. Someone's always looking for a new home, and that referral may get you started in your new business. Conclusion: Just like any other business or profession, you need to invest lots of learning, time, stressful days and not to forget funds to be a real estate agent. Take every step seriously, and grab every opportunity (to learn) that will come your way and you'll have your first “sold” in time. Csw/09-23-2013