What You Need to Know Before Becoming a Real Estate Agent in 2021 (VIDEO)
The COVID-19 pandemic has made many rethink their career path, people are realizing how important owning property and assets are. The real estate business has always been a hotspot but it seems like the pandemic has people flocking to work in something related to real estate. When one pictures a career in real estate, he or she may think about placing a sign on the front lawn of a beautiful house and helping a happy family find the home of their dreams. A substantial income may also be imagined. While becoming an agent can provide both of these things, a person needs to have the right personality and work ethic to make it happen.
A Great Personality is Required
It may seem obvious, but those in real estate need to have a friendly, outgoing personality. Sales representatives are not just selling a house; they are marketing their services. To be successful, one must be willing to walk up to strangers at networking events or chat with people on the street.
Because people react more positively to those with a sunny, optimistic disposition, an agent must also have a cheerful personality. Sales representatives also need to be good listeners, according to the Local Records Office. One must fully understand what a client wants and be able to deliver. If a potential buyer is not shown properties that meet their needs, they’ll find a new agent.
Communication is Key
Communication skills are not enough, though in this competitive field. A person must be willing to put in long hours to succeed. While sales representatives will be able to work from the comfort of their own homes and generally set their own hours. They will be at the beck and call of clients. If a buyer wants to view a property at 8 p.m. on a Saturday, the agent needs to be able and willing to accommodate them.
Because real estate agents do work so much, the hourly rate may not be as high as one would hope, at least in the beginning. It can take over a month to help a family find their ideal home. So while commissions may seem high when a sale is initially made when one considers the actual hours put into the transaction, it may not seem as impressive.
A professional must also face the fact that he or she may not make a sale for a few months. Because of this, before embarking on a real estate career. Many suggest saving enough money to cover expenses for six months. Because income can fluctuate, agents must also have the ability to save and stick to a budget. It’s important to keep in mind that since agents are small business owners or independent contractors. All expenses (from pens to health insurance to marketing) are their responsibility.
All of these costs must be considered and planned for. If a person decides that a career in real estate is right for him or her, he or she will need to have at least a high school diploma and obtain a license, which requires a written test.
A background in sales or marketing and formal education in financing or law can also be beneficial.