So
You Want to Be a Real Estate
Agent?
There's the persistent myth that
the real estate business is an
instant money-generating, easy
treasure trove. Well, it is, but
with hard work, patience, and
best of luck.
For the newbie in the business,
though, real estate can be a
thorny, if not downright
frustrating venture. It's
basically a gamble; profits will
come rushing in only after one
or two years down the road.
After all, you are just
establishing yourself and
building your name and
credentials. Add to this the
fact that you're up against more
cutthroat veterans.
In the meantime, there's always
the temptation to regret the day
you traded your regular and
stable job at the office for the
more unpredictable, often
heartbreaking real estate bubble.
Times like this, you have to
focus on the future benefits,
not the present drawbacks.
Lose some, lose some.
As everything changes along with
technology, so does real estate.
You'll still need your pen and
paper of course, but it would be
heaps easier if you armed
yourself with a PC or a laptop
and a fast internet connection.
Now, more than ever, information
on current real estate trends
and marketplace behavior is
available, so take advantage of
all that. Knowledge is power, so
goes the cliché.
Real estate is all about making
connections. Not necessarily the
right connections; any
connection is good and will come
in handy in the future. Any tip,
juicy scoops, or new finds in
the business is always
appreciated, and that’s what
connections are for. The point
is, in the real estate business,
people skills is a virtue always
worth honing.
Win some, lose some.
Partnering with someone is a
good way to get started
especially if you don't have
enough money to lay on the
table. Your partner will be the
one to worry about the finances,
while you do the legwork
(scouting properties, looking
for buyers, touring them around,
etc). And then you split the
profits between yourselves
depending on the agreed
percentage. A commission of
twenty percent may not exactly
be top-notch cash, but what
you're really after—since you're
just starting—is learning the
ropes of the trade.
Win some. Then win more.
You make new contacts everyday,
know who the key players in the
business, and earn their trust
regarding future team-ups.
Overall, you’ll be growing
comfortable in a business best
characterized by constant ups
and downs.
Whatever the case, in the real
estate business, you are your
own boss and you own your time.
There are no routines, no office
chair restraining you. What
replaces these are sweet
victories with every successful
deal made.
Before long, you’ll be glad you
made the switch.
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