How to Get Into Real Estate

First of all, what is real estate? It’s the legal buying and selling of property. But you are probably wondering if you should get your real estate license? I get it. I was in the same position two years ago trying to figure out what real estate school was going to work for me. The first thing I did was figure out how much real estate agents typically make. What is a realtor’s salary? I found out that it is truly based on where you live and the median price for houses. Real estate is commission based so it ranges. Next, I found an agent in my area and asked if I could shadow them to see their typical day. You should ask around to find a connection go to LinkedIn and message local realtors in your area. Find a common ground with your new connection and offer to buy them a cup of coffee. They will help answer some of these questions. Also, it doesn’t hurt to have a couple of realtors that you can lean on when you don’t know what to do. This business is all about building and maintaining relationships.

What should you expect in your first year? Real estate is often what people think of when they want to make extra money or a side hustle. It’s a great job for someone who loves seeing houses and loves working with new people. You will want to consider if you have the time and the resources to get licensed. We offer courses in pre-licensing, broker, and continued education. We offer pre-licensing in three states including Kentucky, Tennessee, and South Carolina. While it varies by state, most real estate agents work under the supervision of a broker. Real estate brokers offer agents an office, marketing support, legal protection, and guidance. When deciding where to place your license make sure you interview at least 3 different places. Some agents prefer bigger brokerages that have teams and awards, but some prefer more of a mom-and-pop feel. The smaller brokerages can sometimes yield higher commission splits.

Even though you are likely working under a broker, real estate agents are considered independent contractors. Some common expenses include business cards, marketing mailouts, open house signs, and basic websites. Make sure to budget around $1000.00 for these start-up costs. From a time standpoint, make sure you have time set aside for showing houses and meeting with clients –Sunday will become a working day for you.

Another factor you should consider before jumping in to real estate is your motivation. If you are a self-motivated person, then this career would be a good fit. If you aren’t self-motivated, then deciding how to spend your day as a realtor could get messy and confusing.

You are probably wondering, what is Zillow? Why is everyone talking about this website? It’s a place where you can easily find for sale by owner homes and homes on the market. Zillow is usually a day behind, so make sure you have a real estate agent to send you updated listing on the MLS. So if you are wanting to find a house in this market, agent up. They will help you find a house and see if the same day that it is listed so that you have a chance of making an offer. If you have any other questions like:

Is real estate a good investment?

How to be a real estate agent?

Who are millennials Buyers?

Check back to the career corner or check out our FAQ page.

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