Is a Career in Real Estate Right for You?
If a deepening sense of boredom is creeping into your job, it might be time for a change. Similarly, if it is necessary to earn some extra income, you might look around for a side hustle. Whatever is the case, you are obviously looking for some novelty in your life. An opportunity that should be worth grabbing is becoming a realtor. A realtor is a licensed broker or real estate agent. In fact, you may even think of working for a real estate franchise. You must help your clients to purchase, sell, and rent big/small/medium-sized properties. Here’s what a career in real estate looks like.
Advantages and Disadvantages
The biggest advantage is that you work for yourself, not for somebody else. The timings are flexible, wherein you may decide your own working hours. If you are splendid at interacting with all types of individuals, you are bound to find substantial earnings (commissions) coming your way.
On the downside, you will have to put in long hours of hard work. You will have to be extremely organized in maintaining records of meetings, keeping track of legal documents, and sorting out multiple listings. There is no such thing as a monthly or regular income. Only when you sell, will you receive a commission, although they might be delayed.
Duties and Responsibilities
Generating Leads
If you wish to earn well, make a list of all the possible ways to generate leads. Use your family and friends as word-of-mouth advertisers. Similarly, contact neighbors, classmates, people at your workplace, business associates, online friends via social networking websites, and people in the community. Ensure that you have plenty of business cards on your person always. The card must outline your contact details (both online and offline) and your business.
Note that being in continual touch is very important for your business. Therefore, never drop out after that ‘first contact’. You must follow up your leads via text messages, phone calls, snail mail, or emails. To sum up, do not let people forget your face/name!
Working with Your Clients
If you are the sales agent, you will have to prepare listing presentations, have photographs of diverse properties on hand, stage homes, market various properties and host open houses.
If you are the purchaser’s agent, you will have to show people around properties, forward all the listings to purchasers, etc. You must also be present at meetings with loan officers, inspections, and closings.
Taking up Administrative Tasks
It is important that all interactions and transactions are noted, both, offline, and online. Therefore, ensure that no document, agreement, or lease record goes missing. File everything in an organized manner.
You must also create promotional materials for distribution. This should help to build your customer database.
Never forget to respond to text messages, emails, and phone calls. Arrange appointments, meetings, open houses, or viewings, whenever your clients ask you.
Be clear about your marketing strategies. One is updating content on the official website, and social media platforms. Another is to have completed comparative reports of various properties, on hand.