Don’t be fooled: real estate is not an easy business to be in. Now that you’ve earned your real estate license, there is still a long road ahead of you. According to the National Real Estate Association (NAR), it takes a new real estate agent about one year before they sell their first house. However, with adequate planning and a lot of hard work, you can ride out the beginning phases of your career with confidence. Just like any new business endeavor, it takes time and patience to expect to earn money from your new career. Even though getting started takes time, the rewards are great.
Begin at the Beginning
The investment begins with the real estate courses. These run about $500.00 or so, depending on where the classes are held. Invest another $50 dollars or so to take the test, and then add license fees, board fees, application, and membership in National, State and Local Associations \and it averages out to about $1,500.00 in total, depending on which state you are getting licensed.
Marketing Materials
When it comes to real estate marketing supplies, the first thing to think about is business cards. The rule of thumb here is too order plenty—these will be passed out to neighbors, tacked on bulletin boards, exchanged at networking meetings, and tucked into sales materials. Be sure to get a professional photo to add to your real estate business card. Once you order your real estate business card, invest in some professional stationary as well. You’ll want to use your stationary to write a letter to all of your contacts informing them of your new career. Tell everyone how excited you are about your new career, and ask for referrals. Additional real estate materials to put on your list include direct mail postcards, folded note cards, real estate magnets, bookmarks, calendars, and so on. As a new real estate agent, you’ll want to mark a good part of your budget for real estate marketing materials. Visit BestPrintBuy.com to customize your look.
Get Around
You will need a good reliable car that’s able to transport several customers at a time with ease. Next, you want to make sure you have a professional wardrobe and appearance. And this is just the beginning. Clearly, you already own a top-notch laptop or tablet. You’ll probably want to invest in a digital camera and video recording so that potential customers can easily view properties.
Education
So you’ve got your real estate license and that means you’re all set, right? The thing to remember about this industry is that the marketplace is ever changing. The investment you make in continuing education could be anything from a simple one-day workshop to online training or continuing education courses. It’s important that you keep yourself abreast of the latest real estate trends and changes, but it is a cost that you will have to add to your business budget.
Website, Blog, and Social Media Another investment to make is in technology. Recent reports show that the average rich real estate agent spends $3,000-5,000 per year on technology. This includes a professionally designed website with updated house listings and a place to get leads and prospects. Many successful real estate agents use lead management system that allows them build a high volume business, reports ActiveRain.com.
Email Marketing: Although social networking doesn’t cost money, it does cost you time. Even so, you need to keep in touch with the customer. An excellent way to do this is though e-mail marketing campaigns. Make it a goal to collect and capture prospective customers on your website. They can receive automatic listings, along with email newsletter and email marketing campaigns. Although real estate videos can be time consuming and expensive in terms of equipment, nearly 80% of realtors report that online videos is a successful marketing tool. Become an expert at using YouTube to update listings. Another way to reach out to people is through LinkedIn. LinkedIn is a free, professional networking tool. The goal is to keep an active presence by adding to your contact list, sharing industry-specific articles, updating contacts about a recent professional event or training you attended, and so on. But just like any kind of social networking, it takes time and effort to maintain. As a new real estate agent, you have to work hard and work smart. You have to be prepared to invest in your career. Well-trained, ambitious people who enjoy selling – particularly those with extensive social and business connections in their communities – should have the best chance for success.
Business Investment Like any new business, your initial costs –both time and money–will be significant. New real estate agents need to be cautious about where and how they finance your new business and have money put aside for when times are slow. However, most experienced agents say this experience taught them invaluable skills in budgeting and financial management skills. Real estate is not a get rich quick scheme. Like any new business, you need a business plan that includes short-term strategies and big picture goals. Be realistic about expectations, especially starting out. Be willing to invest both your time and your money to ensure you’re your new career in real estate will be a success.
BestPrintBuy.com provides print and marketing solutions for real estate agents and their franchises. We offer online design and print solutions for business cards, postcards, postcard mailing and marketing, folded note cards, door hangers, note pads, bookmarks and several other products to real estate agents.