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.
The leaves are changing, the kids are back in school, and that familiar chill is in the air. You think it's the perfect time to look for a job, and it is! But are your job search fears preventing you from making that leap?
It's not uncommon to feel lost when embarking on your job search journey. After all, school teaches us everything except how to get a job. What should you put on your resume? What questions should you ask in an interview? How can you stand out in the hiring process when there's so much competition?
Are you feeling spooked yet?
Believe it or not, there's no need to be afraid of the job search process! You can land your dream job with the right tools and strategy. You can find a job that won't give you nightmares. Here are three spooky secrets every job seeker should know as they look for a job this fall.
1. An Effective Job Search Starts With An Interview Bucket List
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Despite your fears, you've decided to take the plunge and look for a new job. You might be asking yourself, "Where do I start?" The answer is simple: start by creating an interview bucket list.
An interview bucket list is a list of 10-20 companies you'd love to work for. Are you passionate about a company's products or services? Do you feel connected to its mission? Can you relate to its values and beliefs as an organization? If you answer "yes" to any of these questions, that company probably belongs on your interview bucket list.
Once you create an interview bucket list, you'll be able to conduct a targeted job search, one with direction and a foundation upon which everything else will be built. An interview bucket list helps you focus your job search and networking strategies on the right opportunities, making it easier to get your foot in the door at one of your dream companies.
2. Your Job Application Needs To Disrupt Hiring Managers
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In order to stand out in the hiring process, you need to disrupt recruiters and hiring managers. You accomplish this by doing two things: optimizing your resume and writing a disruptive cover letter.
A well-optimized resume includes keywords from the job description. This ensures your resume gets past the ATS and into the hands of the hiring manager. Once it's in front of the hiring manager, it needs to grab and keep their attention. Quantifying your work experience—adding numbers to your bullet points—will make you stand out from other applicants. Hiring managers will want to know more about you and your accomplishments, and that's how you land a phone interview.
Before that, though, a hiring manager will read your cover letter. To disrupt them, you need to write a disruptive cover letter (obviously!). A disruptive cover letter gives you the opportunity to tell a story about why you feel connected to the company you're applying for. It's that storytelling aspect that will stand out to hiring managers and compel them to pick up the phone and give you a call.
3. Employers Hire You Based On 3 Things
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You can't get hired unless you know what employers are assessing you on in the interview process. While your skills and expertise matter, companies actually hire for three things: personality, aptitude, and experience (in that order).
Most job seekers don't realize how important it is to demonstrate their personality, aptitude, and experience in an interview. You could have the right experience for a job, but if the hiring manager doesn't think your personality is a good fit for the company culture, you probably won't get a job offer.
Make sure you demonstrate your soft skills and learn how to answer behavioral interview questions to prove you're the best candidate for the job you're applying for, not just the most qualified.
Want To Learn More Job Search Secrets?
As you look for a job this fall, it might be helpful to know some more spooky secrets so you can get over your job search fears and finally take control of your career.
We know the job search process can be scary. However, it's important to get clear on what you want to do next and focus on conducting a strategic job search, or what we refer to at Work It DAILY as job shopping. This is the only way to effectively market yourself to employers. If they can't see exactly where and how you add value, then that's going to decrease your chances of landing the job.
The competition is fierce, and there are a lot of factors that are out of your control. But the one factor you can control is your job search strategy, the tools and tactics you use to land a job.
If you want to learn the secrets to conducting a strategic job search, sign up for our Job Search Bootcamp, a two-hour, on-demand video workshop that comes with a free workbook.
In this video workshop, you'll learn:
How to use backchanneling to get directly to hiring managers.
The secret to using a connection story to stand out against the competition.
How social media can be your secret weapon to get job interviews.
The resume format that is getting job seekers more job interviews.
