7 Tips to Starting a Real Estate Career

Are you curious about what it takes to become a Real Estate Agent? We have the top 7 tips to help you understand the process in starting this exciting career!

7 Tips for Becoming a Real Estate Agent

1. Research the licensing process
2. Sign up for the pre-licensing exam
3. Take the real estate exam
4. Decide what type of agent you'd like to become
5. Find the broker that you want to work with
6. Make those connections
7. Start prospecting!

Let's get into each a little bit more…

Research the licensing process

Find out how many hours it's going to take for you to actually get your license. Some states require up to 160 hours of coursework to obtain your license. Some states also require that you have a GED or high school diploma.

There will also be a required background check, so if there is something in your background, it is best to clean it up before you start your application.

Are you already a lawyer? Well, the process is much simpler for you, so definitely look into it!

Some states have varying rules on having a broker prior to obtaining your license. For example, if you are looking to get licensed in Ohio, know that you're going to have to find a brokerage prior to actually taking your test.

Sign up for your pre-licensing course and exam

You can do this in-person, online, or a combination of both. Find a program that best fits your schedule and needs.

Take the licensing exam

Find out how many tests are required, and when and where you will be able to take them. Your local testing center should be able to assist you with all of that information.

Decide what type of agent you want to be

There are three main types:

A Referral Agent. These are usually people that obtain a license because they really like real estate, but they have a different career that they're also doing. So they will talk with their acquaintances, family, coworkers, etc., and about real estate, then refer them to a full-time agent. If that person closes on a property, then the Referral Agent receives a referral fee. That is what we call in the industry: mailbox money. It's pretty nice.

A Single Agent. This is your traditional agent. It's the do-it-all-yourself sort of style. This is usually the best option for getting the best commission split with your brokerage.

A Team Agent. This is when you join an established team with an established system. You'll get customized training, mentorship, and people that really invest in you. However, you should take this with caution because not all teams are created equal even if they're in the same brokerage. Make sure to interview with them prior to making a decision.

Find a brokerage to work with

We suggest that you interview with at least 3 brokerages, one from each category:

Big Box brokerages. Those are the big incumbents out there like Keller Williams, Century 21, Coldwell Banker, and others like that. Definitely set up an interview and sit down with them to see what they have to offer you.

Boutiques brokerages. These are small local brokerages that have a different atmosphere and a different way that they do business, which could be right up your alley.

Virtual type brokerages. These on the “cloud” brokerages are becoming more and more popular, and it is exactly what eXp Realty is that we work with at The Whittemore Group.

Make those connections.

Once you've figured out the brokerage that you're going to go with, find a mentor or coach. What are the differences between the two? Mentors are usually someone who is already in the business who will train you the way that they've done it before.They will kind of keeps tabs on you to make sure that you're successful. A coach is usually somebody that you pay to keep you accountable. This person may also give you some extra training and guidance.

Once you've found a brokerage, start meeting people. Set up different meetings, lunches, coffee, or whatever you have to do bribe the agents that are being successful. Most of them will be more than happy to help you at least get started, and to answer any questions you have. So make sure to go out there and absorb everything because, as a new agent, you don't know what you don't know!

Get to work!

Start prospecting! Your career, or at least the continuance of your career, depends solely on you being able to get out there and prospect. This is 90% of your job as a real estate agent. You have to go out there and get those leads so that you can get paid.

Hopefully this information was useful for you!

If you have any questions about joining our team here at the Whittemore Group, or joining eXp Realty as a whole, please do visit our website. There you'll see videos from eXp Realty about their model, and about us, from our owner, Tim, about joining our team.

What else should you know before becoming a real estate agent? Click here to find out!