So you just passed your real estate licensing exam? Congratulations. You did it. You got through real estate continuing education, and now you find yourself saying, “what’s next?” Too often, nascent real estate agents focus so much on obtaining their real estate license that they forget there’s a whole world of obstacles and complexity they’ll face once they have it. Maybe they failed to take the time to understand the nuances of the business. Maybe they never learned how to develop a budget plan, or learn the ropes from a seasoned pro. If you don’t plan ahead, you may just find yourselves among the ranks of so many failed realtors.
This little list will help you on your way to becoming a successful real estate agent. But don’t forget; there’s always work to be done on your own.
Biggest tips for newly licensed real estate agents:
1. Have a backup income source
This might be the most crucial tip of all. When you’re just starting out as a realtor, you can’t expect to start selling mansions right away. You have to build contacts, a clientele base, references, etc. In the early goings of your real estate career, it is vital that you have a backup plan to pay your bills. This might mean working nights as a bar tender, or saving enough money from your day job to last you for a good six months. Don’t just dive in without a life jacket.
2. Start building your sphere of influence early
In case you didn’t know, there is more to real estate than buyers and sellers. Along the way you’ll have to constantly work with buyers, other sellers, investors, appraisers, loan officers, mortgage brokers, inspectors, and title companies. A good idea here is to find yourself a solid contact management system. This will help you make good use of your time, stay organized and focused on the day-to-day tasks, and stay regularly connected to professionals and clients in your web of activity. You might look into FullContact or Sync.Me or PowerMate’s Agent Business Builder. Whatever the case be sure to consider your specific organizational needs before committing to a specific system. This will help you maintain your sphere of influence and keep you on the cutting edge of sellers in your network.
3. Learn how to use internet and social media
In today’s fast paced real estate world, it’s basically impossible to succeed without building an online presence. This means learning the ins and outs of social networking with sites such as LinkedIn and Zillow. You’ll also want to budget enough money to build your own website and maintain a good web presence. This will help you down the line as you get into the groove.
Whatever your needs as a realtor are, it is important to be as prepared and organized as possible for the big time. The more you have your bases covered and are willing to put in the leg work, the better your outcome of success will be. While these are just a few important tips in building your real estate career, there are so many resources available to better yourself as a real estate professional. Use your mentors. Network, network, network. And before you know it, you’ll be using your real estate license with success and dedication.