Decided to take the leap into the world of real estate?
Great! But, before you do, there are a few things you should know. Keep these tips in mind to set yourself up for success.
Your schedule will change
You need an edge
Your personal network will likely think of you when they need a real estate agent, but as there are many other agents out there, you need to have something that sets you apart. Ultimately, sellers are going to choose someone they trust to get them the best outcome possible, so it’s key that you work on your personal brand and reputation. Put in time to develop an edge- are you a strong negotiator? Do you have great market knowledge and awareness? Get your name out there in your community (especially when you don’t have a long-standing reputation to back you) so that when someone goes to sell their property, your name is top of mind.
You’re in charge
Real estate is different to a typical business structure where you have a boss telling you what your responsibilities and goals are. While the agency you work for will have some interest in your performance, your success is ultimately up to you. This means self-discipline and planning are going to be your best tools- you’re solely in charge of how successful you become. So, be prepared to give yourself the pep-talks and motivation you’ll need to achieve what you want. You’ll get out what you put in.
You need a safety net
If you’re coming from a job where you’re getting regular and consistent income, one of the biggest adjustments coming into real estate is likely to be the pay. In real estate, you may have fantastic months where you’re putting away a lot, and other months that are a bit slower. So, at all times in your real estate career, but especially at the when it takes time to build your reputation and network, it’s important that you build yourself a safety net. A good general rule is to have 3-6 months’ worth of expenses set aside as a buffer, but really, the more you have, the more comfortable you’ll feel.
You’re ready – next step
Taking on a new career path is always going to be nerve-racking, but it’s also exciting. A career in real estate sales is a pretty rewarding way to work.
If you’re ready to take the leap, we offer The New Zealand Certificate in Real Estate (Salesperson) (Level 4) which will allow you to apply to Real Estate Authority to become a licensed Real Estate Salesperson.