Did you know that two-thirds of all REALTORS are women? It’s also interesting to note that the average age of active REALTORS is 56 years old, indicating that most people transition into the industry as a second, third, or even fourth career. Given these two facts, we wanted to provide a guide for women looking to make the move to a career in real estate.
If you’re considering getting your real estate license, read these tips from industry insiders on how to make the transition smoothly!
Tip 1: Create a Plan for the Transition
Launching your real estate business doesn’t happen overnight. It takes some planning.
First, you need to get your real estate license before you can begin buying and selling homes on behalf of your clients. This process doesn’t take long (maybe just a couple of months, depending on how quickly you work through your state-required real estate course), but you’ll want to give yourself some time to study up so you can pass your real estate exam.
Then, consider the logistics of moving into your new real estate career. Will you start on a part-time basis, maybe working real estate around your day job? Or will you jump in full-time? Consider what your daily schedule as a real estate agent would look like, and start laying the groundwork so that you will be ready to roll as soon as you get your license.
Tip 2: Keep Moving Forward, Despite Any Hurdles
Stella Akwudolu had a plan to be a full-time real estate professional by 45 and a top producer by 50. But then life happened. She met her husband in her late forties and her priorities had to shift when she got pregnant.
Women are still overwhelmingly responsible for childcare, being dubbed the default parent in two-parent households, even when both parents work outside the home. And women are also twice as likely as men to take responsibility for elder care for aging parents. These familial responsibilities can easily derail career plans for women. Luckily, real estate offers the flexibility to work around your family life!
Stella was able to study real estate with her new baby by her side, even taking her son along to a real estate marketing masterclass! She set up an “office” at the kitchen table, landed her first client, and never looked back.
Stella’s advice to all women moving into a real estate career: “Remember failure is not the opposite of success, it's just a part of it. Anywhere you find yourself in life, make the most of it. Do not be afraid to try. Be consistent, collaborate, and have a can-do spirit. Don't give up.”
Tip 3: Find a Mentor
Pascale Nejaime of William Pitt Sotheby’s International Realty notes that “a mentor can provide invaluable insights, guidance, and wisdom, drawing from their extensive experience.”
Pascale experienced a steeper learning curve before finding her mentor. “I was left to rely on self-learning through books, online resources, and attending industry conferences and seminars. Although these avenues provided some knowledge, the absence of a mentor left me craving personal advice and a sounding board for my ideas and concerns.”
Speak to your real estate broker about mentorship early in your transition (your broker is the person who supervises your work as a real estate agent, and they can be an incredible resource). You could also reach out to the experienced agents at your brokerage. Offer to assist them with their clients; you’ll learn the ropes, and they’ll get some extra help!
Tip 4: Trust Yourself
Uncertainty is part of the real estate game. Alisa Schwartz of KW Roseville points out that the lack of a stable paycheck, combined with the uncertainties about the ever-changing real estate market in general, can be stressful for agents who prefer to know what will happen next.
So what can you do when you don’t have the stability of a “safe” 9-5 job? You can trust yourself.
You are smart. You are capable. And you will work hard to make your real estate business a success.
Despite admitting to struggling with the uncertainties of the industry, Alisa reports that “it is all worth it in the long run. Unlike other careers, the real estate profession doesn't have an income cap; I love the flexible schedule, and you own your own business[...]. It is an awesome career! Changing people's lives and making dreams come true."
Tip 5: Niche Down
Women are used to wearing all the hats and being everything to everyone in need. So it’s tempting to want to help every buyer and every seller in your market. But choosing a niche to focus on can serve you better than casting a wide net. When you specialize in a specific demographic, you can market yourself in a way that resonates with that group.
Take Serena Anderson of Royal Realty in Las Vegas, for example. Serena found her niche in helping investors maximize their returns. While other local agents were “marketing” to investors with vague language like, “I help buyers, sellers, and investors to complete successful real estate transactions,” Serena highlighted her investment market expertise, promoting how she could help investors “multiply their real estate investments by 2-3 times using her proven strategies.”
Targeting your marketing to a specific niche will increase your conversion rate of leads to clients by demonstrating your expertise.
Make the Move to Real Estate Today!
Are you ready to transition into real estate? Enroll in your online real estate course, and get started today! 5 Tips for Women Transitioning to a Career in Real Estate