![]() ![]() Some people are unable to handle rejection and failure, and those are normally the ones who only last a year or two (or less) in the business. The key word being, realistic! A broker should be able to assist in setting realistic goals!īy setting unrealistic expectations, new agents are often “let-down” after they fall severely short of their lofty expectations. Setting realistic goals is an absolute in real estate. ![]() While possible, it’s a very long shot that this is actually what happens for new real estate agents. Many new real estate agents come into the business having visions of being the top real estate agent in their office in their first year. Having unrealistic expectations is a very common mistake made by new real estate agents entering the business, but also, a very common mistake made by buyers and sellers. What Do You Expect to Accomplish in Real Estate? Having Unrealistic Expectations Often Leads to Failure in Real Estate! Consider what your expectations will be before obtaining a real estate license! These “dues” are generally a yearly expense. Like the licensing course, the cost varies from state-to-state, but generally will range between $800-$1200. Each real estate board is different, however, there will be costs associated with joining, sometimes known as “dues.” These costs can include things such as fees to use the local Multiple Listing Service (MLS), fees to the State’s Association of Realtors, and the National Association of Realtors. Bottom line, there likely will be additional “start-up” costs once you find a broker to “hold your license,” and it’s important to find out exactly what the fees and charges will be, so ask! Just like it is so important that a buyer or seller hire the “correct” real estate agent, it’s as important when considering a career in real estate, you select the “correct” broker for your situation!Īfter finding a sponsoring broker, the next step is joining the local real estate board. Each broker will also have different commission splits and agreements with their agents, often based on what their fees and charges are. These fees can include items such as a “desk fee,” charges for copies, or charges for an office. ![]() Every real estate company has different monthly fees, quarterly fees, yearly fees, etc. Once the real estate license is obtained, the costs start adding up. After obtaining a real estate license, the next step is finding a sponsoring broker or real estate company who will “hold your license,” or simply put, hire you. After passing the 75 hour course and exam, a state exam must be passed with a score of 70% or greater. The cost for licensing courses, generally, ranges between $450-$600 for the course hours and text books. The 75 hour course ends with a final examination. For example, New York State requires that a 75 hour licensing course is completed. Each state, town, and area will have different costs and rules associated with getting a real estate license, but are fairly similar. Thinking about the costs involved in getting into real estate is an extremely important thing to consider before doing so! It’s fairly inexpensive to obtain a real estate license. What “Start-Up” Costs Are Involved in Real Estate? Here are some of the most important things to consider beforehand! There are many things that need to be taken into consideration before getting a real estate license. There are many things that a successful real estate agent does on a daily basis, that the general public doesn’t know about! Selling real estate is more than driving clients around town and opening doors. It’s been said many times by new real estate agents, “I like looking at houses, so I’ll be a good real estate agent.” Another one is, “I watch HGTV and watch all sorts of real estate TV shows, so I know I’ll be a good Real Estate Agent!” This is wrong as well. Many new agents don’t last long in the business because they don’t stop and think what exactly is needed to be successful in the business. ![]() New real estate agents enter the business on a daily basis and real estate agents leave the business on a daily basis. Many have “Illusions of Grandeur!” Simply put, this is wrong. As a real estate agent you are the hero when you bring a seller a full price offer on their home that you are selling.īeing a real estate agent is often seen by many as someone who has an easy job and makes boatloads of money. The chance to give a first time home buyer the keys to their new home is priceless. As a real estate agent, you are helping buyer’s and seller’s with one of the largest transactions, if not the largest, they will ever experience in their life. Real estate can be a very fulfilling profession. Before Getting a Real Estate License, Consider the Following! ![]()
0 Comments
Leave a Reply. |