Many individuals view working as a real estate agent as a dream job. They are often attracted to the flexible work hours and earning potential. Also, the short time it takes to become a real estate agent compared to some other professions is desireable. However, there are few things you should understand about becoming a successful real estate agent before deciding to take the plunge.
Different states have different requirements in terms of hours and certifications. You can expect some requirements to be constant regardless of the jurisdiction. No state requires you to have a four-year degree to become a new real estate agent. However, you will more than likely need a high school diploma or its equivalency.
Most states require a minimum number of class hours in real estate related courses. This number can range from 40 to 300 hours depending on the state. These courses will prepare you for any test you must take to obtain your license. Finally, you will be required to work under an experienced broker before you can branch out on your own.
A new real estate agent works on commission, as do established ones. It may take a while before you start earning real money. This is because you will not receive your commissions until a deal is closed. Prepare yourself for the financial crunch you may feel for the first few months. Experts suggest you be prepared to endure about six months. After that point, it is more likely that you will not need to dip into savings or use other income to pay your bills. Building up your emergency fund beforehand isn’t a bad idea.
Learn Your Market
There are classes you take to satisfy the requirements to become a real estate agent. These courses will familiarize you with all applicable rules and laws. However, your clients will need you to assess the value of properties in your local area. You will also be expected to stay abreast of market changes, and to negotiate with sellers on their behalf. All of these things will require expert knowledge of the local market.
Professional Listing Photography
Employing the services of a professional real estate photographer will make your listings appear more professional and attract potential buyers. This can provide you with a competitive edge. Hiring a professional to take the photos you need to list your properties will also save you the time and effort of doing the task yourself. Studies have additionally proven that listings with professional photos can sell as much as 50 percent faster than other listings.
Many people would love to work as a real estate agent. It is a challenging profession but there are many rewards that await a good agent. The steps above will help you on your way to becoming a successful real estate agent.