8 THINGS TO KNOW BEFORE YOU BECOME A REALTOR®
So you've been thinking about becoming a REALTOR®, yay! We can assure you that a career in this industry is exciting, rewarding and stressful at times. Much like anything worth doing, it takes hard work, discipline, and skills that you acquire only from experience in the trenches!
In saying this, there are a few things you should know before taking the leap!
1. You get to decide how successful you are, and your income potential is basically unlimited.
Amazing, right? You will get out of a real estate carreer exactly what you put into it. This is a career that rewards hard work. If you dedicate yourself to being successful in real estate, you will greatly increase your odds of success.
2. You’re going to need a plan.
When newly licensed REALTORS® fail, it’s usually because they didn't have a plan. You will need to set goals, as well as develop a business and marketing plan. That plan should include time allocated to daily activities all driven towards helping you meet your goals. It will be important to hold yourself accountable to the goals you’ve established and the tasks you’ve identified to help you get there.
3. Your first paycheque might be further away than you think.
Yes, I think every agent will attest to this.The period of time between earning a license and getting a commission cheque can sometimes feel like an eternity as it's dependent on when the home actually closes. You’re going to need to be able to cover the costs of your day-to-day life, as well as business startup costs, so if you’re thinking of earning your licence within the next year, start saving whatever you can now so that you can handle living expenses while you wait for your first cheque.
4. You're the boss now!
Sure, you will have the support of your broker who will likely keep an eye on how you’re performing but for the most part you will be calling the shots! You need to be disciplined enough to take control of your career and make the most of your time. Nobody will be as invested in your success as you are.
5. 9-5 is not a thing.
If you are planning to work in residential real estate, you will likely need to dedicate at least a portion of your weekends and evenings to work. Your clients will need to shop for homes in their free time, and their free time is typically on nights and weekends.
As a result, your clients will expect you to be available for showings, open houses and office visits when it works for them! However, don't panic - compromise is attainable and many successful real estate agents have found success in balancing their client service with their personal lives. Our best piece of advice? Be honest and up front with your clients about your availability, and use the time you do have productively.
6. You need to set yourself apart from the others.
The good news is, if you've got great friends and family, they will be eager to work with you. The bad news is nearly everyone knows someone who sells real estate. So it will be important that you set yourself apart. You will need to develop a brand that sets you apart from the rest of the market and gives potential clients a reason to choose you over someone they know on a personal level.
7. Find the right mentor.
One of the best ways to break into a career in real estate is to find someone that has gone before you and gained success at the same goal. This person will have the ability to provide you valuable advice and encouragement. Choosing a mentor is not necessarily a difficult task, but it also shouldn’t be something you jump into haphazardly. Not all REALTORS® have the time or desire to mentor, but those who do and do it well, will be invaluable to you.
8. Real Estate is an amazing career.
Let's be real, a career in real estate isn’t easy and incredibly competitive, but it's the challenges that make real estate such a rewarding career. If you're authentic and dedicate yourself to exceptional client service and hard work, the rewards are SO worth it. Helping someone find the perfect home for their family and handing them the keys to their future never gets old!
As a team we are excited to help those coming into the industry with a keen interest to learn and work hard! We have a mentorship program in place that will allow you to crush your goals and create the career and lifestyle YOU want! If you've been thinking about a career in real estate, please reach out - we would love to chat!
I fell in love with Fredericton when I moved here in 2005 to attend University, and decided to make it my home. Being married to a handy man and a lover of fixer-uppers, I’ve had the "opportunity" of living in many different communities within the Fredericton area, each with their own unique benefits. For now, we are living the waterfront life, and loving every minute of it, with our three children and high maintenance hamster, Lilly. After staying home chasing our 3 littles for 6 (mostly wonderful) years, I decided I wanted a change - something just for me!
Two and a half years later and I can say that Real Estate was exactly what I had been looking for. A career that allowed me to smash together my love for people with my love for business and buying and selling homes. I love helping people and for me, it's not only about negotiating the best price for my clients, but also about seeing the uniqueness in every transaction and building relationships. I see the importance of surrounding myself with like-minded, trusted professionals within the community to insure my clients receive the service and protection they need and deserve. I can’t wait to show you what our team has in store for our present and future clients!