Survival Tips for New Realtors

Survival Tips for New Realtors

The financial benefits of being a real estate agent don’t come quickly.  It takes time to build a clientele and to actually become profitable with an income that is steady.  If you are looking to start a career in real estate you will want to make sure that you are financially secure so that you can focus on growing your real estate business.

Find a Good Place To Land

Once you finish real estate school and pass your state exam, you will want to find a brokerage to hang your license.  This is the time to be a little picky when choosing who you want to work for.  There are many resources you can get from your brokerage that are invaluable when first starting out.  Free marketing assistance is worth its weight in gold.  You can spend thousands working for a company that will help you in this part of your business.  You also want to see what types of continuing education they offer in house.  This too can save you money.

Be Wise with Your Earnings

You will want to put money away from each closing.  That first closing paycheck might be tempting to spend as a celebration.  But you will want to remember that you have taxes to pay and you will want to save for them quarterly.  You will also want to use that money to put back into your business.  You will want to begin looking into tools to gain prospects and more marketing to reach clients in the niche that you may have decided upon.  Reinvest as much of your earnings in the first year back into your business and yourself.

It’s a Business

You will want to have a plan for organizing your money when you are first starting out.  Being careful with your money is not the only thing to consider when you are first starting out.  Your real estate business is just that, a business.  Don’t treat your new career as a hobby only devoting some of your time and energy into it.  You are going to have to work hard long hours to secure and nurture leads that will get you clients and close deals.  By building relationships with your clients you can be sure that not only will you gain a friend, but you will also receive referrals because of your great customer service and connection.