How To Become Successful Real Estate Agent / Salesperson?
Updated: Oct 31
The tough part is not about getting the real estate salesperson license, it is the business journey ahead.
While many people are stressed out and frustrated over passing the Real Estate Salesperson (RES) exam, their focus should be placed on what's next after passing the exam and getting the license. Eventually, you'll pass the test with the effort put in to study for the exam.
However, if you don't pay attention to the five things below, you will most likely end up joining the majority of the agents who fail to make it in this business because they don't plan ahead. Fail to plan, plan to fail.
1. Have A Secondary Source of Income
Nobody can give an exact answer to how well you'll do at the initial stage, or how many transactions you can do in your first year. Nobody can give a guarantee or assurance as real estate work very much depends on one's personality and attitude. Since real estate is a commission-based business, you should have enough money set aside to get by for a minimum of six months. Being full-time and focusing on real estate is easy than said. You can have a side job that doesn't interfere with the real estate work to ensure you have sufficient marketing funds to get leads and close deals.
2. Get A Mentor Who Has a Passion in Imparting Knowledge
The exam isn't what you need for success. It is just a basic requirement to legally practice as a real estate agent. You need to do a lot more to make this real estate business a success. There is a saying: if no time, pump in money. if no money is put into the effort. Most who started out fresh will want to put in the time and effort that they have on hand rather than investing money. Most fresh salespersons have more energy and zest to make the business happen.
Get a mentor who cares and wants to help you, or you can offer to assist them in their transactions. There is so much to learn about the process by tagging along with the mentor. You will need to explain legal contracts, do necessary checks, carry out due diligence work, etc. You will definitely feel much more confident and capable if you have seen these legal documents beforehand. There's no substitute for actual experience. An effective mentor will help you understand and learn about the pace of the business, the costs of doing business, and getting the right prospects. Take every step seriously and follow it, and you will earn your first commission pay cheque within the shortest time.
3. Start With Your Circle Of Influence
Don't be a "secret" real estate agent where nobody knows you got the certification and license to carry out real estate work! Make good use of your personal network which you have built up along the way since young. A great way to begin is just by announcing to everyone you meet face-to-face or via social media that you are qualified to represent any sellers/buyers/landlords/tenants. Someone who has been looking for a new home or a tenant who is looking for a new rental place may get you started in the new business. By serving buyers/tenants, you will definitely learn a great deal of knowledge and along the way pick up some client management skills and negotiation techniques.
4. Leverage On Technology
We have heard technology can substitute many professions. Why not use technology to complement our real estate work? You will need technology to give the most updated information to your clients; you will need technology to be more efficient and effective; you will need technology to equip you with the tools such as calculators to make financial calculations fast and easy. In today's real estate world, with many clients going DIY, technology can assist you to get a foothold with today's sophisticated and educated customers.
The real estate business can be a fun, exciting, and satisfying career. However, you have to make it through the challenging first year, so that everything will fall in place once you have grasped all the knowledge, skill, and techniques to excel in this real estate market.