What to Know Before Starting a Career in Real Estate

October 13, 2020
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Before you pursue a career in Real Estate, you should ask yourself what you know about the subject, why? Because for one to be a master of a thing, you’d have to know enough about the subject, most importantly the basics.

What is Real Estate all about?

According to Investopedia, Real Estate includes the physical surface of land, what is above or below it and what is permanently attached to it. Real Estate has to do with buying fresh land, construction and renovation of buildings and then putting up the finished building for sale or lease.

The market available to Real Estate is very huge, so it’s a lucrative business that is attracting a lot of curious folks to the playing ground, but no matter how large the players get, the food would still be enough because the Residence acquirement is a necessity in the human survival’s list, and everyone wants a good one.

According to thebusiness.com, there are four types of Real Estate Investments,

  1. Residential Real Estate includes both new construction and resale homes. The most common category is single-family homes. There are also townhouses, duplexes, high-value homes and vacation homes.
  2. Commercial Real Estate includes shopping centers and strip malls, medical and educational buildings, hotels and offices. Apartment buildings are often considered commercial, even though they are used for residences. That’s because they are owned to produce income.
  3. Industrial Real Estate includes manufacturing buildings and property, as well as warehouses. The buildings can be used for research, production, storage, and distribution of goods. Some buildings that distribute goods are considered commercial real estate. The classification is important because the zoning, construction, and sales are handled differently.
  4. Land includes vacant land, working farms, and ranches. The subcategories within vacant land include undeveloped, early development or reuse, subdivision and site assembly.

Why You Should Join The Ride

If you are reading this, then you were curious about Real Estate matters, you probably want to pursue a career in it or you are just researching, anyways you should know why it is a good idea to join the party.

It’s simple to be involved in Real Estate investment, as anyone who buy and sell lands and buildings basically engages in Real Estate investment.

The reasons you should be a Real Estate agent are numerous, but here are few that would convince you.

  1. You set your own calendar, anyhow you want your time to go, it goes that way. You could decide to put in a lot of hours or less hours, whatever gets the job done.
  2. There is no limit to how much your income can grow. Your income increases with the amount of effort you put in. A person with a great deal of energy could see a future of increased incomes.
  3. You get to socialize on the job if you love to. The Real Estate job could really pay if you made familiar with potential clients in the area, this could be done by attending community meetings and events to meet people, and that could turn out to be a big plus.
  4. You call the shots in your career. You choose what to focus on and what deals to close, you practically control everything about your work and how could make it flexible with your personal life so that no one suffers.
  5. No restrictions to a desk. You don’t have to stay behind your desk all the time as the Real Estate business is an on-the-go kind of job, so most of the time you’ll be out sealing deals and doing house showings.
  6. You impact lives in small ways. When you help that family find their first home or the startup find a business space, you’ve become part of a memorable history that they won’t want to forget, that is one of the joys of being a Real Estate agent.

What You Should Know Before You Start

  1. A plan is necessary
    The most important thing to know is that Real Estate Investments make you an entrepreneur, whether full time or part-time, so you should take it as a business, and what makes a business thrive if not a business plan. The reason many agents have quit in the past is because they did not have a plan for winning the market, they thought the Real Estate was all about buying and selling without strategy, and we wall know a battle without strategy is lost already, failing to plan is planning to fail and a whole other bunch of anecdotes that concerns making plans.
    Before you enter into the field you should make a valid business plan, one that provides solutions to foreseeable issues, and is flexible for the unforeseeable ones, one that has a mode of operation, a target and so on. You can get free templates of business plans on sites that offer Real Estate trainings.
  2. Whatever you want is what you can get
    Real Estate is a very lucrative career, with the promise of no restrictions to how much you can earn, but then you will need to as much effort as you want to earn. If you put in the effort of a full-timer, then you get the result of a full-timer and if you put in the effort of a part-timer, then you’d get the result of a part-timer too. So, it’s majorly a matter of dream it, want it, work it and get the result of it, it’s just that simple. In some cases you’d have to work extra hours just to make sales, and if you cannot put yourself to make sacrifices, then you may not be able to go far in your career. Many clients in the Real Estate market, browse for properties to buy in the night and on weekends, basically free time, and they expect a Real Estate agent to be available for whatever business they want to so you have to be awake or available to make sale. You don’t have to work yourself to death, you can find the middle ground between work and your personal life, just arrange your schedule the best way you can and you’ll be able to lead a successful career.
  3. You are your own boss
    You must have heard of the phrase, “You are your own boss”, well it’s the same case even in Real Estate. you’d have a broker that supervises you, but you pretty much still have amount of success you have in your hands; Decision making, time management and so on, all it is up to you, so you have to be disciplined to make your Real Estate career a success. Your progress is in your hands, the broker only checks your progress or gives you information, other than that, it’s you.
  4. Create your own brand
    TheReal Estate has a lot of people picking it as a career now, your potential clients probably knows someone else on the job, a brother, sister or friend, or even a random person on Facebook, so you see, you’ve got to have something that would drive buyers and sellers to your threshold. You should create for yourself a thing that separates you from the other contenders, something that makes buyers and sellers want you other than that somebody they know, it could be your service, or your charisma, anything that puts you up, just make creativity your best resource.
  5. It gets better as time goes on
    Folks have a lot of expectations when going into Real Estate, even ones that are so unreal, but even if you want to be optimistic, you should add a dose of realism in it so you don’t quit from disappointment. The job is one full of challenges, and you may not even get a cheque every week but still you become better at what you do. All you have to do is be dedicated to your job and have something that differs you from other agents, and you see how it pays off.
  6. Do Extra to get Better
    Your first hurdle to cross would be to get your Real Estate license and to get it, you have to complete a few courses which span over a few months.
    After you get your license, the best thing to do is to get trainings that teach you how to close deals, especially for those going into Residential Real Estate, as it requires you searching for your customers. There are many Real Estate training centers where they can teach you how to win deals, and if you don’t want to do a physical learning, you could do online trainings. Then you go on to choose a brokerage, these are companies that help to ease the Real Estate agents with the business brought in by them. The things they provide are as follows:
    • A brand to be affiliated with
    • A managing broker who can help guide your career
    • Some tools and light training
    • Business cards
    • Website
    • Signage
    • A desk
    • A contract to us

Conclusion

To start a Real Estate career is a great idea, it is a career at its prime right now, that is also lucrative, maybe it’s because lands and buildings cannot be exhausted. You could make a living out of it, especially if you love putting a smile on people’s face or you have a knack of satisfying your customers.

You should be ready at all times to seal deals, be stressed, to have failures and also successes. All you need to do is make a schedule that works for you, so you don’t get strung up by too much work. You’d need to be able to socialize, that will prove an advantage in the field. You should also create a good image for yourself, one that attracts clients.

There is no struggle in Real Estate, all you need is the dedication and the flexibility and the right information and you are set to win.

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