Monday, 2 March 2020

7 Things To Do After You Get Your Real Estate License

Real Estate License

I want to write this particular article on the steps required and what you must do after you get your real estate license. I still see a ton of confusion, so I want to break down a few simple things to ensure that right after you get your real estate license, you're good to go. 

But you have to understand that there's the right way to do it and the wrong way to do it, and a lot of people are not taught the right way, I have a ton of content for new agents giving them the light and the path, however, of course, because this is the way the world works, some people will visit this blog after they're already started or they're been in the business 2 or 3 years and some people are lucky enough to find me early. So hopefully you fall into the category of finding this before you actually have already gone through the process.


Let's Get Started

What To Do After You Get Your Real Estate License



1. You Have To Join A Broker

This is where confusion pops up for a lot of people. A lot of people believe that when you get your licenses now, you can start working by yourself, that's not the way it works. You have to join a broker. When you start, you get a sales person's license, that is just to be a regular salesperson you will have to hang your license with a broker which means they're going to take you in. Now, that does not mean you're joining a team.


2. When You Join A Brokerage, You Are Still A Sole Agent.

This is where mistake number two comes in as people have this misconception. When you join a brokerage you are still a solo agent unless you personally elect to join the team, you are still working alone when you join a brokerage. A lot of people think that when you join a broker you're automatically part of a team, you are not, you still work as a solo agent. And remember, when you get your license, you have to go to a broker you can't just get a salesperson's license and start selling real estate yourself. That's not the way it works. 

You could start your own brokerage by getting a brokers' license, that's a completely separate subject. 


3. Here Is Why Most People Fail After Getting Their Real Estate License

This is a pivotal point for a lot of people and one of the main reasons that so many people fail in real estate is this, you joined the company, you choose a broker which I will cover here in a second, after this, you show up the first day, brokers like, there's your desk, there's your phone, get to work. And now it begins, and you're kind of sitting there clueless saying, what do I do? This is why so many people fail. You're promised a lot of times all the bells and whistle training, guidance, and you show up after you have your license and nothing happens.

I hear some people say that this was the case for them when they join, and it's sad, and this is one of the reasons that there's such a low level of professionalism in this industry. A lot of people don't have sales skills at all and so many people feel lost and continue to be amateurs because they do not have the right guidance.


4. How To Choose A Brokerage

Before I jump into that, I want to talk a little bit about choosing a broker. If you are choosing a brokerage you need to find out what needs you want to be fulfilled. A lot of newer people want training, want guidance, want mentorship, want help, you need to find a company that's going to provide that not one that just tells you they're going to do it. But the one that will actually provide it. Talk to some other agents, see what's going on, message other people that you follow.

You have to create a list of what you want, that might be guidance, that might be a one-one mentor, you might want to join a team, so you would more than likely want to go to a brokerage that has some successful teams, not the mom-and-pop brokerage down the street that has no teams and when you tell them can I join a team they say what's a team? That would obviously be the wrong choice.


5. Don't Focus On The Commission Split.

Let me explain to you why that's bad. Don't worry about the commission splits if you have to exchange 20% to 50% of your commission, however, the brokerage that you're going to will have somebody that you can go under their wing, they'll teach you the ropes and then in a couple of months, you can be Rockin and Rollin already doing deals that are more worth than any sort of commission.

Read: 5 Step To Find Good Real Estate Deals

Don't focus on a brokerage just to see how much you're going to get and what you get. See what they provide and if you have to give up 10% to 30% or whatever it is, then make that decision, do not base your decision solely on the commission split. That is one of the biggest mistakes people make. 


6. Have A Laundry List Of Activities That You Have To Do.

This is where a lot of people make another error that you do not want to do, your immediate job now after you got your license, you found a brokerage, you're good to go is to start getting business and training immediately, you need to learn, there's going to be the school or class knowledge, there's going to be the experiential or knowledge which is experience. So do not be afraid to make a mistake. I'll repeat that again, do not be afraid to make mistakes, otherwise, you're going to bind yourself to inaction and you're not going to get out there. 

You want to talk to other agents, shadow them, see what it's like going on appointments with them, sit down with the transaction coordinator which is somebody who manages escrows and files, sit down with them and have them explain to you what it's like going through an escrow. Get to know contingency period, contracts, start studying the stuff that is relevant to the actual business or real estate, not what you learn in the courses, a lot of stuff you learned in the courses will not apply now infield, other than that, you trained through experience, now you got to get out there and find leads and convert them into business.


7. Pick Somebody To Follow

Pick somebody who has a system and follow it. That would now be your source of CRM (customer relationship management system) A system where now you can build a database or a sphere of influence, people that you know, people that can provide you leads, people that might buy or sell because they already know you that's a sphere of influence. Also, it's going to provide you with some sort of lead generation tools and tactics meaning, how to find business, how to find leads outside of the people that you know that will want to buy or sell, and how you can capture them and how you can convert them.




Conclusion

That is the name of the game ladies and gentlemen, now that you've gotten your license, all the schooling and all that is over and now you're off to the races. You're now a competition with everybody else to find buyers and sellers. That's it, that's what you need to do. You need to find people, get them to know you, like you, trust you, and then get to use you and let's say your name is Bob, you Bob to represent them, the purchase of a home or sale of a home. That's it. 







Hopefully, you got some value from this article. Thanks for reading

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