Real estate is a rewarding career that offers flexible hours and the freedom to find your own niche. It can also be quite lucrative. You've probably seen celebrity brokers vying for huge commissions on popular TV shows like Selling Sunset and Million Dollar Listing.
Not everyone works in the luxury home market, but the average base salary for a real estate agent, according to Indeed, is $91,622.
Are you wondering how to get into real estate so that can you earn the big bucks yourself? This quick guide tells you what you need to know.
7 Tips for How to Get Into Real Estate
1. Decide Which State to Practice In
For many people, that's going to be the state where you already live. But if you have the flexibility to move elsewhere, it's smart to do some research and find out where the prime markets are. There might be more competition for business, but you'll earn more money and get more leads in a busy real estate market.
2. Get Your State Real Estate License
The most important thing when learning how to get into real estate? Your license. If you're at least 18 years of age, a legal U.S. resident, and a high school graduate, you can become a licensed real estate agent. Online pre-license courses are a great way to study for the exam.
3. Find a Real Estate Brokerage to Sponsor You
Once you get your license, most states expect you to work with an established real estate broker for a set period of time. This is a great way to make connections and learn from experienced agents.
4. Consider Joining the National Association of Realtors (NAR)
Not all agents are Realtors, and there's no requirement to join the NAR. But this organization, which has hundreds of local chapters, holds agents to a detailed Code of Ethics. It's a great way to build trust with clients.
5. Develop a Business Plan
It's good to think strategically about where you want to be down the road. Some things to consider:
How much money do you need to make?
How many home sales a year will it take to meet your financial goals?
Which real estate niche do you see yourself specializing in?
Are you looking to work in a brokerage long-term or start your own real estate group?
Once you determine key objectives, you can break the plan down into smaller categories.
6. Establish Your Marketing Brand
As a real estate agent, you'll need to market yourself. That means, at minimum, having a professional headshot and bio on your brokerage's site. Here are some other ways to let potential clients know who you are:
Develop your own website.
Find an area to specialize in. Maybe you're the agent who helps millennials find their first home. Or you could be the person who knows everything about downsizing. Website content is a great place to let your expertise and personality shine.
Use social media to advertise website content and MLS listings.
Use direct mail to send your network monthly newsletters.
There are a lot of marketing tools out there. Ultimately, what you decide to use should be best suited to your target audience and the "vibe" you want to project.
7. Network, Network, Network
The best real estate agents view every interaction as a chance to build their network. They collect leads while getting coffee, having their nails done, or eating out at a favorite restaurant. They host open houses to meet potential clients and other brokers.
As a real estate agent, keeping lines of communication open is the most important thing you can do and the best way to build your business.
Now that you know how to get into real estate, it's time to get started. Let Aceable Real Estate School help! Find your state's online real estate license courses today.