More and more people are becoming interested in real estate. And everyone needs similar questions answered:
“Am I the best fit for this kind of job?”
“Isn’t this kind of like entrepreneurship?”
“How do I get started?”
What makes YOU different is how you approach each of these questions. With a great attitude and strong work ethic, you must create this path and career for yourself. Yes, there are classes you can take and mentors to be spoken to, yet overall, this is a one-man game.
So, whether you are getting involved as a side hustle, a part time job, and a full time commitment, the three steps below will help you begin with confidence:
Get your license.
This one is pretty much a no brainer, considering you MUST be licensed to begin. Study hard, and make it count. You don’t want to repeat this exam multiple times, nor do you want to be stuck with double the costs and fees. In Georgia, the licensing examination fee is $115 and the license fee is $170.
If you need to find a mentor or take a class, then do it. It won’t hurt to broaden your skills, thoughts, and understanding even more.
Focus on your professionalism:
creating a business plan, forming a solid contact list of friends or associates, and be sure you are consistent in your professional image.
A business plan should include a SWOT analysis (strengths, weaknesses, opportunities, and threats) for your geographic area, a media strategy to determine who your clients are, and when and how you can reach new clients, a well thought out timeline for your goals, and more.
This moves directly into your contact list; whom do you know that you can reach out to for help, or as a potential buyer? Real estate is a giant networking game, so you have to be ready to put yourself out there.
And lastly, build up your LinkedIn, create a website on a free (for basic plan) platform such as Wix, Squarespace, or WordPress, and make business cards to pass around. You’ll want to make sure you are consistent in your wording and personality or language. Also, focus on your benefits—why should interested homebuyers come to you instead of the next guy? You have XYZ capabilities, so don’t miss out on highlighting them.
Do your due diligence in research.
You are planning to be the owner of your own business, and that requires a lot of time and effort in terms of preparation. Dedicate 30 minutes to an hour each day to learning more about your local area or where you plan to sell homes, your competitors, and real estate in general (because there is a lot to be learned).
Becoming an expert in your field is more than beneficial – it is smart, and it is strategic. When it comes to knowing your selling ground (area of homes), you should know who’s buying in this particular place, why they are buying, the amount people in this area can afford, and any limitations, fees, etc. associated with this city.
Your competitors are your next targets. Figure out how they are becoming known or growing, and do it better. How do they advertise? What’s their language like? Can you tell they are going after a particular buyer?
Lastly, even after receiving your license, never stop learning. It is constantly changing and hundreds of others are getting involved each day. Stay on top of it.