Was 2019 a tough year for you as a real estate agent?
It’s not just you.
Being a successful real estate agent isn’t an easy task. With over 2 million active agents across the United States, competition for clients can get fierce. It’s not uncommon for new real estate agents to drop out of the professional after the going gets tough.
You don’t have to give up on your career, though. We’re here to help make 2020 a year of great success.
Continue reading to learn how to become a successful real estate agent.
1. Invest in Your Professional Education
Although the qualification requirements for becoming a real estate agent vary from state to state, you typically need to complete a pre-licensing course and get an occupational license.
If you’re anything like most newbie agents, your first move is to find work and start making money. There’s nothing wrong with this, but if you want to become successful in this profession, you have to become more than a real estate agent.
In your line of work, you have probably come across realtors and brokers, right?
To succeed, you should aspire to attain these titles too.
You’re undoubtedly wondering what’s the difference between a real estate agent, realtor, and broker.
For starters, all these professionals are licensed real estate agents. However, realtors have taken an additional professional step and joined the National Association of Realtors. You can only use the “realtor” title after joining this association.
And to become a real estate broker, you must take a broker licensing exam. Read this broker vs real estate agent guide for detailed insight.
Generally, realtors and brokers have a significant advantage when it comes to attracting clients. These titles mean they are more educated and experienced, which is what any client wants in a real estate professional.
2. Choose an Area of Specialty
As a real estate agent, you can specialize in any of the following categories:
- Residential properties
- Commercials properties
- A specific geographic area
- Specific types of properties, such as single-family homes or condos
- Property management
- One sort of client (Either buyers or sellers).
If you’re newly-qualified, it’s understandable that you might be against choosing an area of specialization. Doing so can significantly reduce your potential client base, but here’s why specializing can boost your career in the long-term.
You see, in real estate, just like in other industries, no one wants to work with a jack of all trades. Yet, this is how potential clients view you when you haven’t specialized.
Put yourself in a home buyer’s shoes for a moment.
If you’re looking to buy a luxury beach house, which agent would you choose between one who deals exclusively with beach houses and another who deals with any residential property? The former, no doubt.
So, in 2020, find your niche.
3. Don’t Go Solo Too Soon
Most real estate agents start by finding employment in established agencies, brokerages, or property management companies.
Don’t you want to become your own boss too? This is the ultimate dream for almost everyone in any profession.
However, becoming your boss means going solo. And if you go solo too soon, you might make a costly career move.
If you’re new in the profession, it’s advisable to keep working for someone else. If you work at a brokerage, spending more time with experienced brokers will give you ample opportunity to learn from them.
The more knowledge and experience you gain, the better prepared you will be when the time to start your own brokerage comes. You’ll even have a solid network of clients.
4. Enroll in a Mentorship Program
Speaking of learning from experienced pros, did you know a mentor can take your career to the next level.
In this case, a mentor is usually a person who has a wealth of knowledge and experience in real estate. They were probably real estate agents for tens of years before transitioning to full-time mentoring or consulting. Enrolling in a mentorship program will enable you to get advanced career tips and insights from a person who understands your struggles.
Some mentorship programs can be pricey, but if your feel the mentor is a good fit for you, consider it an investment in your career. You’ll reap the benefits later on.
5. Stay Abreast of Real Estate Marketing Trends
A couple of years ago, newspaper listings were the ultimate real estate marketing strategy.
Today, social media and search engine marketing has taken over. Potential buyers want to see high definition videos of the various properties in the market from the comfort of their couches.
The lesson here is you need to keep up with the constantly evolving real estate marketing trends. If you don’t, you will be stuck with outdated marketing strategies that don’t convert. Reading industry websites and blogs and following top professionals on social media is a good way to stay on top of the latest developments.
In addition to this, embrace and invest in various technologies that can help your work. For example, investing in quality cameras and even drones can give you an edge. If someone wants you to help them sell their house, for instance, you can use these pieces of equipment to capture quality footage and use it to market the house.
6. Network, Network, Network
To be a successful real estate agent, you need a solid professional network.
We are not talking about networking with other real estate professionals only. You need to cast your net wider and bring in real estate attorneys, property appraisal specialists, and other professionals who’re usually involved in real estate transactions.
With such a network, closing deals becomes easier. Clients love agents who can get things done quickly.
To build your network, attend industry conferences, seminars, workshops, and other events. Also, the business card isn’t dead. Ensure you always have some on you, ready to dish out to a prospect.
How to Become a Successful Real Estate Agent, Simplified!
The real estate profession is crowded and fiercely competitive. If you’ve been trying to get ahead with little progress, perhaps there have been things you weren’t doing right. With this guide on how to become a successful real estate agent, you now have the information you need to turbo-charge your career in 2020.
All the best, and keep reading our blog for more career tips.