Now that sounds exciting, and from your perspective, perhaps a bit daunting. 'Where to start?"
Unfortunately, this question should have been answered before you plunked down your money to get your sales person license. Let me explain.
What were you thinking?
When "I'll sell real estate" crossed you mind, exactly how did you intend to do this?
If you were opening a sneaker shop, doggie day care or a Beach Kite Rental business, you would have done a bit of research. Who will buy your 'stuff"? How many buyers of you 'stuff' are there? Where are they located? What are they willing to pay? Where will you get the 'stuff'? How will I reach those with the ability to pay? How will you get your 'stuff' to them? Who will I need to rely on? How much cash do I need in reserve to carry me until this starts making money?
Those who fail to invest this minimal energy, by default, end up in residential sales and asking, "Now what?" Most new businesses do not fail because of competition. They self-destruct because the failed to prepare?
The good news
You do not have a debilitating IDWDT list that will prohibit you from pursuing business where it is most likely to exist.
You are curious....the most reliable indicator of intelligence and teachability
No bad real estate habits to break
The bad news
Everyone is an expert...including those townhouse dwellers who have never owned real estate, have not been involved in a transaction is 12 years, and knows their brothers neighbors sons girlfriends father who is making a killing in real estate..so they are an expert also.
Real estate people, especially licensed agents, are foggy talkers. Very little actionable data is available, especially on a public forum. (the same is true in my response) You want real data,,,pick up the phone and call a Chicago real estate professional. Demonstrate you are actually serious and not simply soliciting opinions from strangers on the internet.
Albert, that crazy looking, disheveled genius, stated his greatness was due to his ability to stand on the shoulders of other great men. He was kinda smart, and perhaps has shared a great idea. Work with some folks who have figured it out. Then, it's simple.."Do what they tell you to do!" Since you don't have an extensive IDWDT list like most agents do, you will be ready to rocket to success.
Start with these steps.
#1. Know what your business goals are. How much must you make to survive? What is you goal in five years. (get this information by chatting with a few agents. You will need to buy the coffee)
#2. Set up appointments with a few brokerages whose name you recognize. Get the following data:
- # of agents in office including team members
- # of total transactions completed in that OFFICE (not franchise)
- Average transactions per/agent of that office
National average is 5 to 7 transactions per agent annually. You want to identify the office doing LOTs of transactions. Why? You will learn the business by doing transactions, NOT WARMING A SEAT IN A CLASS ROOM! The number of transactions per agent IS VALIDATION of the programs within that office. If the numbers don't support the claims...you need to know 'IT"S NOT TRUE!"
#3. How will broker get in enrolled in a mentoring program where YOU will be doing transactons as soon as possible. (Note: you get paid for completed transactions. There is no pay for warming a seat)
Hopefully, this was not foggy speak.
Best of success to you.
Annette Lawrence, Broker/associate
Remax Realtec Group, Palm Harbor, FL
727. 420. 4041
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