Confessions Of 3rd Year Agent – So You Want To Be a Realtor?
- Confessions of a 3rd year agent-
I’m not going to name names in this blog as far as where I have hung my license prior to KW (it’s easy to find out), but I will share with you my experiences, tips & suggestions for anyone that is new to real estate or thinking about getting into real estate.
#1) And MOST IMPORTANT – as #RyanSerhant from Million Dollar Listing said “Find the best realtor in your area, go to work for them…for free & learn everything they do or have done to become successful in real estate” (Real estate is not as easy as the show makes it look so don’t get it twisted)
This is so, so true. I have had the privilege of working at 3 different brokerages that all take a similar but different approach toward real estate from training and marketing, all the way to the technology side of things. My start in this business educated me really quickly on how competitive this industry can be even within your own office.
My 1st Stop–
Was a big name in real estate. I went through the 6 week required training program, which broadly went over all the things you will need to learn and do in order to be successful in the real estate industry. Having already been self-employed for 10+ years prior to real estate, most of this stuff was common sense and I was already fully aware that being self-employed is no small task and that most fail to succeed in selling real estate. To sum up the training-You have to show up every day, work hard, build your client base, follow up, ask for the business, find your niche, & market.
Take advantage of the training available to you
Having gone through the 6 week training course, settling into my new office, showing up every day at the office and attending all the weekly broker/agent Tuesday meetings for my 1st 3 months at this brokerage, I had decided that the absolute best way for me to learn this business would be by doing it and learning from someone that is experienced at it. I set out on a quest to hold an open house for someone or shadow a fellow agent from my office so that I could see just exactly what happens at an open house. What questions do buyers ask? What do you bring to an open house? What should you know about your open house? How do you market your open house etc.? After asking over 200+ agents at 2 different offices and not getting one person to help me, I began to rethink my choice in brokerage immediately! It was at that very moment that I realized I had better check around at other brokerages and see what kind of training and systems they offered because it was obvious that the agents @ my 1st stop were not willing to share any tips or tricks of the trade or help educate me to the processes as they thought I was their direct competition.
My 2nd Stop-
Was a boutique brokerage. After interviewing at my 2nd stop in real estate, I knew immediately that it was where I needed to be if I wanted to expedite my knowledge of buying and selling real estate.
I was told that they have broker teams on all of their transactions and all new brokers (me) essentially can get picked to be on buyer/seller files with SR brokers so you get to learn the business of real estate by doing it with the SR brokers in the office rather than reading about it. Sort of a paid internship. Not paid very well but you get to learn the business by doing it and make a little money along the way while gaining 1st hand knowledge about real estate. I have always been a learn by doing type of person, so I was very excited at the opportunity to have the hands-on learning experience.
In my interview, I was told that I should pay attention to their newest associate broker who had just had their 1 year anniversary and was able to work on 35 different transactions with the SR brokers within the company…a new record. I thought “That is awesome!” He was involved in 35 transactions?!!! How could I ever get that kind of knowledge anywhere else?? After all, if you are on your own, in real estate, you may take years to get to 35 transactions and he was able to get that experience in 1 year. I was pumped and immediately set out to break that record with my goal of 50 transactions for my 1st year, which I smashed with a total of 68 transactions in my 1st year. It was no easy task and I put 18k miles on my car, worked almost every weekend and was in the office almost every day for that year-my point here is; selling real estate/being self-employed is NO EASY task and requires discipline and a LOT of HARD WORK to become successful.
Do the work-
After my 1st year there, I was blessed to have worked with some really good agents and ended up on the team of the top producer in the company. I thought I had learned a lot on my 1st 68 transactions but that was about to get blown out of the water. He threw me into the fire pretty quickly and the whole meaning of hands-on experience was elevated to new levels. I loved the challenges though and I gained soo much knowledge having gone through it. I really got into the meat of real estate, writing offers, helping buyers find homes, going on listing appointments, helping prep homes for photos, input homes into RMLS, reviewing offers, going to home inspections, negotiating repairs, and a million other things you do in real estate. I was on that top producing team for about 9 months before I decided it was time to spread my wings and give this a shot on my own.
It was at that point that I began to look very seriously for better opportunities at other brokerages. The commission splits at stop 2 were a lot higher than the average fees around town…essentially you are paying for all that knowledge gained through their methods/systems which for quite a while I thought were well worth it, but I really wanted a shot at being paid what I felt I was worth and wanted more freedom to build my brand and not said companies brand that I have 0 input on, so that landed me at stop 3.
My 3rd Stop–
Is a major player in this world of real estate and a combination of my 1st 2 stops, in a good way. They have all the class training in the world available daily and at your fingertips. Everyone I have met is very friendly and are willing to really help, unlike stop 1. I am huge into marketing on the internet and they use/have cutting-edge technology available to us here as they invest millions yearly into technology. Not a lot of real estate companies can say that. I’m at the top producing office in Oregon, we are the top rated company to work with and I really feel like the people in charge are looking out for my best interests just as I do for all my clients. As a very successful agent, Chris Suarez once told me when I was really, really green to real estate “It’s not about winning, It’s about win, win” meaning it’s about both sides of the transaction feeling like they won, not just one side of the transaction.
Just as stated at the beginning of this blog, the absolute best advice I can offer, is to do what #RyanSerhant said and find one of the best realtors in your area and go to work for them for free. It really is the best way to learn this industry quickly. That may be easier said than done depending on where you are. Another good choice to gain experience quickly would be to get on one of the top producing teams in your area which is the route I took.
Things to remember-
- Real Estate Is Very Hard Work And Very Rewarding. It can require a lot of your time and weekends. It’s not for the 9-5’r. Keep grinding.
- Do your research before you pick a brokerage/team. Make sure you are working with someone that is actually good at what they do…this is a MUST.
- Read the fine print on your brokerage agreement. Know how you get paid. Make sure you fully understand the terms and conditions if you ever decided to leave said brokerage/team. (this rookie didn’t)
- Real estate is not a sprint, it’s a marathon…trust me! Be prepared to keep grinding, if not, you will not make it. Never get too high or too low. It can be an emotional roller coaster.
- It’s best to be surrounded by like-minded people all working toward the same goals-to be successful and learn as much as you can about real estate. Become the expert at whatever your niche is. Keep grinding.
- Closed deals mean nothing until both parties have signed & left the closing table. Anything can happen before that and blow up a transaction. It is our job to represent our clients best interests at all times and get everyone across the finish line feeling as if they won…not an easy task, trust me! Keep grinding.
Do you still want to sell real estate? 🙂