This could be the most brilliant move of your life – plan accordingly!
You’ve decided to take the leap and become a real estate agent.
Congratulations! You’ve taken the step of making a decision, but now it’s time to take action. Where do you start?
As with any new business, new entrepreneurial effort or new job, preparation is the key.
1. Get in the right mindset!
This business is amazing but at the same time it’s tough. Every real estate agent is of the opinion that real estate is tough initially but most of them are glad they started.
So your mindset is key to make sure you are at least semi-prepared to push through the hard work and bumps along the journey. If you are truly excited about this journey then you should start right away.
You do know you are about to start your own 100 percent commission business, with a high fallout rate, where you are the boss, and you have to convince others to use your services? If that excites you, this is a really good start.
A little nervousness is quite normal. But if that statement is a great big buzzkill, it is worth unpacking those pieces to make sure you are poised to work super hard to turn this new opportunity into something amazing.
In this preliminary phase, your mindset is key. Spend some time — you could journal, talk with friends, read articles online — and answer these questions for yourself:
· What do I most want out of this business?
· What most interests me about real estate?
· What will my success in real estate ultimately do for me and my family?
· What is my motivation?
· Do I attract people, and do conversations come easy?
· How is my energy, health, happiness, motivation, grit, drive, overall well-being?
2. Do your research!
How about talking with five close friends who have all bought or sold real estate in the past couple years to discuss their experience? Do your research.
This type of engagement typically has one of two results: It will either strengthen your resolve to take on this new endeavor, or it will take the wind out of your sails, and you may take a step back.
I took numerous steps back in the years before I started in real estate. There were a couple of people who talked me out of it, my resolve was not yet solid. But I stuck with the research, I kept coming back to real estate as a possible career option because it truly interested me. When the time was right and my resolve was solid, I was all in.
3. Have a plan!
So you have your mindset, you’ve done your research, and you have cash reserves. Now, how about a general plan?
· When I say your general plan, spend some time outlining the following:
· How much money do I need to make?
· How much money do I want to make?
· What is the average commission in my area?
· How many closings will I need to hit my goals?
· Where will my business leads come from?
· Will my company provide leads?
· What company will I choose? What training will my company provide? Does my company provide any mentor opportunities?
· Do I want to be a solo agent or join a team?
· How will I spread the word about my services?
· Do I want to specialize?
· Who are my biggest fans?
· Who are the top 100 people I know most likely to buy or sell real estate this year?
· Am I going full-time or part-time? If part-time, what financial goal do I need to hit to go full-time?
Your new real estate career — it could be the most brilliant move of your life. Plan accordingly.