Real estate is rapidly becoming one of the hottest employment opportunities around. With the economy reversing and the housing market rallying, it's a great time to get a real estate license. However, a lot of people come into real estate thinking it's a simple job. Sell the house, make the money, and have no worries. There's a little more to it than that, and prospective real estate agents need to understand that.
Related:15 Questions To Ask Before Making A Career Change
In this article, we will discuss five things every prospective real estate agent or Realtor should know and plan for before getting started, starting with real estate courses.
1. Why Do I Need To Take Real Estate Courses?
Real estate courses are designed to ensure applicants are conversant with local, state, and federal regulations regarding every facet of a property sale. Some typical items these courses cover include:
Your rights and responsibilities as a real estate agent
How to sell a property correctly
Understanding zoning laws and regulations
The importance of continuing education
Consumer advocacy so you can represent your clients professionally and ethically
These courses are generally state-specific, which means you may have to take a similar course if you relocate or want to practice in a multi-state region.
2. How Do I Get My Real Estate License?
After you complete any real estate classes and studies required in your jurisdiction, you then take a test and apply for licensing. Criteria for successful completion of the course varies by jurisdiction, and you may have to take additional courses even after you receive your real estate license. Some brokerages, particularly large national brokerages, require this to ensure you get all the instruction you need to work with their particular systems.
3. Why Do I Need A Brokerage? Can't I Work As An Independent Agent?
Most jurisdictions require real estate agents to be affiliated with a brokerage for consumer protection purposes. Brokers carry an additional three years of real estate education and training, which makes them valuable resources for newly minted agents. However, all brokerages are not created equal. You should always check the following criteria at a minimum to ensure your brokerage is a good fit for you and your style:
How much experience does this broker/firm have?
What is the broker's reputation?
How do agents and clients who have worked with this broker previous found the experience?
How long will it take for me to start earning commissions?
Does this broker require additional coursework, and will I have a brokerage-assigned mentor while in training?
4. How Much Can I Expect To Make?
A lot depends on where you're practicing, what the market is like in your area, and your own personal attributes. Strong salespeople can expect to make six figures and up per year, while weaker agents or people who are engaged in real estate as a sideline may only make a few thousand dollars per year. Be sure to keep up with trends in your market, as well as more "upscale" markets that may be nearby.
5. But I'm Working For Myself, Right?
Technically, each real estate agent or Realtor is independent, so you do have the option to set your own hours depending upon your brokerage's requirements. You should keep in mind that the harder you work, the more commission you're likely to see. Before starting on real estate licensing, you should make sure you have a nice wardrobe and at least six months' living expenses put away just in case things are lean at first.
Is your job search turning into a grind with no end in sight? It may be time to take a step back and reevaluate your entire approach.
In cold weather climates, the beginning of spring is a time to clean the house and get organized—a practice known as spring cleaning. Through the years, spring cleaning has taken on a larger meaning with people using the time to organize and declutter things in their lives.
For professionals on the job hunt, a little spring cleaning (metaphorically speaking) could be a great way to reinvigorate your job search. Here are a few strategies your job search spring cleaning should include.
Reevaluate Your Job Search Approach
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Make a list of the last handful of jobs you applied for and see if you can identify any positive or negative trends. Consider things like:
How did I learn about this job?
How did I apply for the job?
Did I earn an interview?
What was the ultimate result?
A lot can be learned about your job search approach just by answering these questions and identifying patterns. For example:
Negative Trends
You discovered five jobs through job boards, applied to all of them via the job boards, and never heard back from any of them.
The common pattern here is applying through job boards. This isn't to say that job boards don't serve a purpose in the job search process, but they have their limitations, and you can't run your job search entirely off of them. When you apply through a job board, there's a good chance that your materials will never get past the applicant tracking system (ATS) and never be seen by an actual person.
One simple fix is to research who the hiring manager or recruiter is that posted the position and email your materials to them directly.
The more efficient fix would be to take a proactive approach by putting together a bucket list of companies that you want to work for and start making connections on LinkedIn with people who work at those companies. You may already know some people who work there or have connections that can refer you to some individuals.
This is a great way to network your way onto a company's radar.
Positive Trends
You applied to three jobs via referral, were invited to two job interviews, and made it through multiple rounds of interviews for one of the jobs before being passed over for someone with a little more experience.
The pattern here is that getting referred to a job by a professional acquaintance is a great way to land a job interview. This indicates that you're leveraging your network well and you should continue to focus on your networking efforts.
The next step is to review the interview process and determine what went well and what needs to be improved. Sometimes the interviewer will provide feedback, and that feedback can be valuable. However, not everyone is comfortable with giving feedback.
Chances are you probably have a good idea about areas of improvement and the skills you need to gain. Put together a plan for addressing those shortfalls.
The good news in making it deep into any interview process is that it indicates that the company likes you as a potential employee (even if the timing just wasn't right) and the experience could be a roadmap to a job with that company at a later date, or another similar opportunity elsewhere.
Give Your Resume & Cover Letter Some Much-Needed Attention
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Are you continuously sending similar resumes and cover letters to each job opening with only minor adjustments? If so, your strategy needs some serious spring cleaning.
The reason why it's so important to tailor your resume is that throughout your career, you acquire numerous skills, but the job you're applying for may only be focusing on 6-8 of those skills. In that case, those skills must rise to the top of the resume with quantifiable examples of how you successfully used those skills at previous jobs.
Remember, recruiters go through hundreds of resumes. They need to be able to tell from a quick glance whether or not you're a potential candidate for the position.
While updating your resume, you could also spruce up your LinkedIn profile by highlighting the skill sets that you want to be noticed for by recruiters.
As for writing a good cover letter, the key to success is writing a disruptive cover letter. When you write a disruptive cover letter, you're basically telling a story. The story should focus on how you connect with the particular company and job position. The story could also focus on your personal journey, and how you got to where you currently are in your career.
If your resumes and cover letters aren't unique, now is the time to clean things up and get on track.
Build Your Personal Brand
Just because you're looking for work doesn't mean that you don't have anything to offer. Use previous career experiences and passions to build your personal brand.
Ask yourself, "How do I want other professionals to view me?"
Pick an area of expertise and start sharing your knowledge and experience with your professional network by pushing out content on your LinkedIn and social media accounts. Good content can include blogs, social media posts, and videos.
By sharing content about your experiences and passions, you slowly build your personal brand, and others will start to notice. The content could lead to good discussions with others in your network. It could also lead to reconnecting with connections that you haven't spoken to in years, or making new connections.
You never know when one of these connections could turn into a job lead or referral. The trick is to get on people's radars. So, when you're cleaning up your job search, be sure to build a plan for personal branding.
Maintain Healthy Habits During Your Job Search
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Your job search is important, but it's even more important to know when to pull back and focus on personal health and spending time with family and friends.
There are actually things that you can do for your own enjoyment that could help your job search in the long run, such as:
Grab coffee with a friend - It's good to engage in light conversation with friends during challenging times. And if your job search does come up, remember that most people have been through it themselves and you never know when a friend may provide you with a good idea or lead on a job.
Volunteer - Volunteering is a great way to get involved in the community and help others. In addition, if you develop a little bit of a career gap while looking for a job, you can always talk about how you filled that time volunteering, if you're asked about it during a job interview.
Continue to focus on other passions - Are you a fitness nut? Blogger? Crafter? Continue to do the things that bring you happiness. And if you're in a position to profit from your passion through a freelance job or side hustle, even better!
Spring is the perfect time to clean up and improve your job search so you can land the job you want. If you're struggling to find a job, follow the tips above to reinvigorate your job search—and watch your career blossom!
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This article was originally published at an earlier date.