Sunday, January 27, 2008

So, You Want To Be A Real Estate Agent?

That's great that you are working on getting your real estate license. Two words I consistently have for real estate is that it is FUN and it's also CHALLENGING. It's never balanced between the two, and there is SO much on-the-job-training.

Here are some tips that I would have appreciated when I was working on my Rockwell Online Class...

Do all you can to pass ALL of the short quizzes throughout the course in order to pass the chapter exams and final exam with flying colors. You have three attempts at the end of the course to pass the final exam. Study the chapter exams and study the answers. They will help with the final exam. Now, as for the state licensing exam, it's more on common sense regarding real estate, but it's also a difficult exam. A large percentage of what you learn in the class won't be in the state exam. (Ironic!)

I have been in real estate as an assistant before, and have worked in the legal field, so I had some experience under my belt. You find out right after you take the state license exam whether you pass or fail. They don't give you a percentage either way. Get a good night's rest before you take the exam and expect a good outcome because of excellent study habits throughout the course.

Set aside a minimum of $3,000 to get started. There are LOTS of fees, association dues, membership dues, possibly franchise fees, desk fees, office supplies you buy, wardrobe changes....

Depending on where you work, you'll need business cards, a desk (possibly provided), a phone, a computer that you provide, a cell phone with 450-900 minutes per month ($60-$90/mo), a lot of determination and drive, a work-hard attitude, and a love of helping people. Interview two or more real estate companies before choosing one. I love the company I work with. Everybody in the office is incredibly helpful and the competition is very friendly. The broker/owners are always ready with advice, but ready to let you make your own decisions and mistakes, and believe me, there are plenty of mistakes to learn from, but try not to let those mistakes be ones that compromise client confidentiality or broker advice. Find a niche (homes, land, commercial) and become an expert at one before trying another. Have a plan for finding new clients. Read some good books by Danielle Kennedy. She is AWESOME for helping with details in getting started.
Read a book called "21 Things I Wish My Broker Would Have Told Me." Buy your real estate books on http://www.half.com/. They're cheaper! And last, but not least, when you interview a real estate company, try to have someone you can "shadow" while you're in training. This helps to shorten the learning curve, though it will still be high.

I hope this helps! I am excited for you! And for you spouses of up-and-coming real estate agent, it will be very important for you to be incredibly supportive of your spouse because the first year in real estate is tough! The average agent doesn't make their first sale for six months. One didn't make his first until his ninth month. I was fortunate and made two sales so far. But this is unusual.

Good luck and God bless you!

Connie Suehiro, 509-431-5804

Call me for a free list of homes in Moses Lake in your price range!

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