4 Hot Tips for Networking in Real Estate
A lot of folks these days think that jumping into a career in real estate might just be the easiest thing in the world. However, if these folks think they can just quit their day job and jump into a meteoric career as a professional real estate agent, they’re in for a rude awakening.
Talk with the real pros, the top agents who have put in their time. Then you’ll learn that it is difficult to establish yourself in the real estate industry. What’s more, maintaining your status as a closer day in and day out requires a massive amount of effort. You can expect to go well above and beyond the traditional 9-to-5 office job hours.
Succeeding as a real estate agent is not something that you can achieve on autopilot. So if you’re looking for a cushy job, you should probably look elsewhere. Having said that, if you’re an adventurous, outgoing, go get ’em type who’s willing to work long hours, real estate may just be the racket for you.
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If you decide real estate is right for you, here are a few basic tips to keep in mind as you sally forth into your new career.
Find a Mentor
First, you’ll need to get your license and find work with a brokerage. All of this requires a fairly rigorous education process, depending on where you are based.
And then, importantly, young realtors would do well to find a seasoned mentor who has two key qualities: at least 10 years’ experience and a familiarity with contemporary trends. You want someone who’s been around the block, but you don’t want a dinosaur.
As with anything in life, greatness does not come overnight. Only a sustained effort over a prolonged period of time will bring you the success that you crave.
Current trends suggest that real estate is a very popular career. However, the churn rate is extremely high due to the fact that lots of people don’t have patience for anything short of instant success. If you stay in the ring long enough, though, you might just win the bout. Persistence is key.
If you’re discouraged by the lack of instant success, maintain a part-time job. When you finally close that first big deal, applying for a commission advance will allow you to reinvest that money into your career—or cover your rent—until you have the cash in hand. You can find information about commission advances easily if you browse around a bit.
Get Involved with Your Community
This tip may seem opportunistic, but it all depends on your perspective. Studies have shown that people who are engaged with their communities are happier than those who live solitary lives. Get involved with charity committees and local events. You will thereby improve your quality of life and make a lot of connections that could prove useful. Two birds, one stone!
Listen for Leads
As you master your community engagement skills, make sure that you are listening to people. It’s easy enough to talk talk talk, but if you stop and listen to people, they’ll come to respect you. Furthermore, by really listening to what people are saying, you can gather intelligence regarding who in the community is looking to buy, sell or rent a property.