Real Estate Agent How To Get Started

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The definitive guide to getting started in real estate, according to the best agents with billions in career sales

Real Estate Agent How To Get Started

Real Estate Agent How To Get Started

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How To Work As A Property (real Estate) Agent In Singapore By Hastorsingapore

Starting a career as a real estate agent can be both exciting and scary, especially in 2020, a year full of unpredictability for the real estate market and the economy as a whole.

New agents need to focus on several crucial aspects of the job, including which parts of the market to get involved in, which brokerage to work for, how to network effectively and how to manage their time.

This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Have an account? Log in. It goes without saying that having a successful first year in the field can make all the difference when it comes to success, so to help you get started, Business Insider spoke with nine top agents from across the country for their first-place tips for the year . Choosing the Right Market Agents just starting out should be open to working in any type of real estate, according to Lisa K. Lippman, the lead agent at Brown Harris Stevens for the past four consecutive years. “Choosing a specific market will limit you,” Lippman said. “New agents should be open to everything, to rentals, to smaller transactions, to any neighborhood you may know.” But top agents agree that when it comes to location, you should strategize before you get started. Go into the market where you know you have an established network that will come to you for your real estate expertise, said Chris Halstead and Sharon Fahy, a senior Halstead team now working under Brown Harris Stevens. Compass broker Michael J. Franco agrees. “If an agent new to the industry is weighing options on which market to choose, he should first look to an area where he has contacts and connections,” he said. Michael J. Franco. Michael J. Franco “A lot of business, especially startup, is focused on the network,” according to Franco. “If you happen to have no contacts or connections, which is rare, then I would choose a developing market like Nashville, where there are a lot of people moving in from all over the country.” And while you may be reluctant to start in your neighborhood or even your hometown, that’s totally fine if it’s the market you’re most familiar with, according to agent Christopher Totaro of Warburg Realty. “It’s best to start with what you know, so if possible, start where you live or an area that is familiar to you,” he said. Whichever market you choose, make sure you make the effort to learn everything about it. “Monitor the market. Study which homes have gone into contraction, have price drops, or have expired unsold,” Angela Retelny, a top broker in Westchester County, New York, told Business Insider in an email. Make sure you have personally seen the majority of your properties in person, so you can build a knowledge base that empowers you when attending listing presentations, showing properties, and advising clients on submitting offers, she wrote . “Be a student of the market!” pointed out Jonathan Spears, a 28-year-old real estate powerhouse with more than $600 million in career sales, in an email. “Your value as a real estate agent is to provide market knowledge and insights that would be a valuable resource to a consumer looking to buy or sell in the market.” The world of real estate is vast, but Spears encouraged new agents to pick a segment of their local market and become an expert. It’s important to identify a “specific area” or “inventory demographic,” he explained. Location, however, is only part of the puzzle. Angela Retelny. Courtesy of Angela Retelny Joining a Team Finding a partner or joining a team can work to your advantage as a new agent. “It can be more beneficial to find someone to collaborate or partner with,” Lippman said. “It’s about finding a balance with someone between the value you add and what they bring to the table.” But you shouldn’t do it before you know where you stand. It’s important to first understand the market and find out what you know and what you don’t know, Halstead and Fahy said. Take every opportunity you can to learn, help experienced agents with open houses and where else they need support. From there, they said you can make a decision whether you want to collaborate or create a team. Doing this will help you know what value you bring to the table. Franco agrees: “If you don’t have a large portfolio of clients and are new to the industry, it’s probably best to start with a team. If you’re younger, you may want to find an assistant position in a production environment.” , successful team.” Totaro said that “it really depends on your financial situation, previous career and life experience,” he said. For a younger person with limited experience or limited capital to support during the first year of business, “the right team can be a tremendous way to gain a significant amount of experience.” “Try to nestle yourself under the market leader or a market leader,” Spears said. “That knowledge and understanding is why someone will hire you. I worked as an assistant for $10 an hour for the first two years of my career. That time frame was paid education. I couldn’t replace him today.” The leader you choose “should be a knowledgeable, experienced agent who you admire and who can teach and advise you,” Retelny wrote. Lippman agrees: “Be willing to apprentice to someone with more experience, even if you have lots of business to bring to the table. This allows you to see all the different aspects of the business and what it means to continually sell. .” Lisa Lippmann. Brown Harris Stevens Finding prospects is hard work, and you need to structure your time. Agents agreed that hard work is a necessity. “Be ready to put your nose to the grindstone and work harder than ever,” said Linda May of Hilton & Hyland, a Beverly Hills super agent with more than 30 years in the business. May said to network as much as possible and get to know agents at your brokerage and outside of it, but the work doesn’t stop there. Volunteering to help at open houses and neighborhood shows to get in front of as many potential clients as possible is key, she said, and can make a big difference for an agent. Also Bess Freedman, administrator CEO of Manhattan-based Brown Harris Stevens, said helping experienced agents with their open houses is a great way to meet potential clients. Offer to help more experienced agents and set up their open houses and showings , he wrote in an email. The first year is especially tough, many agents agree, because it can feel very empty and you have to create your own structure, but doing exactly that is extremely important. Early on, new agents should set their own benchmarks, Halstead and Fahy said. These benchmarks may include a number of transactions and deals concluded in different neighborhoods on various types of properties. The truth is that contact seeking is difficult, Halstead said and Fahy added. Plus, you have no real schedule and a lot of free time, so it’s important to create structure and treat it like a position that has expectations. Ultimately, success comes from working harder than your peers, they said. Linda May. SOCIETY/Linda May Retelny Group said you won’t always feel busy during your first year, so you should use your free time to become proficient in the world of real estate. Fill that time intelligently to set yourself up for success, she said. “Keep in mind that if you want to be successful in this industry, real estate is a full-time business!” she wrote in an email. “There are no days off in real estate,” May chimed in, saying you should “research and be on the phone every single day.” Setting achievable and realistic goals will help you not feel overwhelmed. Generate a certain number of leads each month and “make sure you build a consistent, consistent network,” she said. If you do the work, she promised you will see tangible results. Eric Goldie, a real estate agent at Compass, told Business Insider that tapping into your network from previous jobs, college, and even high school can help you meet new

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