(Closed) Real estate bees! I need your advice!

posted 5 years ago in Career
Post # 3
Member
491 posts
Helper bee
  • Wedding: July 2014

*bump*, interested too! Not that I have a broker’s license or anything but I am very intrigued by the career. 

Post # 4
Member
70 posts
Worker bee

I just started my career in real estate a year and a half ago, and I can tell you it is very difficult to start getting your first deals. 

It is not uncommon for it to take six months or a year to complete your first deal. When I first started my broker had me compile a tiered list of people I knew starting with the ones that were most likely to buy ending with the ones that were least likely to buy. I started by sending these individuals my weekly real estate newsletter and making lunch dates so I could catch up with them and let them know about my new career. It is important for people to start thinking as gingerkitten the Realtor, not gingerkitten the mortgage loan processor. 

Referrals are very important in real estate and they will come from past clients or family members. This is why it is important for you to start letting your friends and family know you are in real estate, because even if they are not buying a home they may know someone that is. 

Holding open houses is also a great way to meet new first time home buyers. Oftentimes established agents will have a couple listings going on at the same time and they will need someone to hold one of their houses open. Also, most offices have “floor time” where you can sit in the real estate office as the agent on duty and pick up any potential clients that walk in.

Joining groups and organizations is also really important. Find something you are genuinely interested in and become active in that group goes a long way.

It takes a lot of time and patience, and frustration to make it as a real estate agent. Most people in my office say it took them 2-3 years to start making good money. It is a really fun job though!

Good luck! 

Post # 6
Member
305 posts
Helper bee
  • Wedding: October 2015

Bump!

I just got a job working for a real estate company. It’s a small company, so while I will mostly be working in the office, pretty much everyone sells.

 

This is going to sound pathetic, but I am TERRIFIED of this job. I keep reading statistics about people who have been assaulted and attacked on the job, and while I’m sure that’s pretty rare, I’m having a tough time being excited because I’m totally freaked out!

 

What experiences have you had in real estate? A lot of crazies, or am I just paranoid? 🙂

Post # 7
Member
7463 posts
Busy Beekeeper
  • Wedding: November 1999

Please offer advice Bee’s.

I’ve been sitting on completing my NYS R.E. license for over year. Moving from a steady FT income into commission based compensation is terrifying. But I’m currently in a job that where I don’t foresee a long future.

I want to know how feasible is to start a R.E. career on a part-time basis? Most of the R.E. agent forums are pretty discouraging. They advise that either you are all in or not. I’m considering getting a 2nd job working PT with RE firm, maybe helping assisting at Open Houses or working with listing agents.

I really need to make some moves but I just want some guidance.

Post # 8
Member
103 posts
Blushing bee
  • Wedding: September 2013

I sold real estate for 3 years in chicago (a handful of years ago).  As waitinginsf mentioned the best way to get clients at the beginning was through floor time and open Houses.  Floor time led to buyer leads if someone drove by a house with a company sign in front of it that was listed by aother agent in my office they would call for more information.  If that person wasnt represented by a realtor I had a decent likelihood of converting them into a buyer that i would represent And arrange for them to see the condo (or house).  Open houses at lower priced listings were also a way to find clients.  You would be looking for people who are unrepresented by a realtor and that is more typically a first time buyer at the lower price points for your area.

i made my first sale within 3 weeks of becoming a realtor, and started making a comfortable living quite quickly (in a better market though).  I did not get much business at all from people that i knew initially.  I think since they knew i was new to the business i didnt know what i was doing as welll as  someone more experienced.  This got better over time but i was surprised by that almost all my sales were initially with strangers for my clients.

i also got business throught the relocation company.  Many larger companies have an affiliation.  You worked for a lesser commission amount but they were ready/eager buyers or sellers.

i did have some weirdos that i  worked with…when i was first starting out i was more eager to work with anyone needing a realtor but as time went on i became more particular.   it took a few years but i started to get repeat client business (moving to a bigger, better place) or people referring their friends and family.

i ended up moving out of state so i no longer actively practice…i do keep my license inactive so i can make money by referring business (knowing someone who needs a realtor, telling another realtor about them and getting a cut of their commission if theperson you refer buys or sells  for not doing anything!)

 

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