How to become a Real Estate Associate
Posted on February 14, 2008 in the Real Estate Industry category
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Learning how to become a real estate associate requires commitment and money. The preliminary requirements for a real estate associate differ from state to state. If you are planning to move in the near future, you may want to wait until you are settled again before you look into a career in real estate. It’s essential for a potential real estate associate to understand the differences in each state, thus the reasoning behind separate licensing.
Before you enroll in courses to learn how to become a real estate associate, you must understand that this career is not a 9 to 5 job, and, if you attempt to make it such, you will not have a successful real estate career. A real estate associate must be willing to meet with buyers and sellers when it is convenient for them and not when it is convenient to you. That does not mean that you have to rearrange your schedule to accommodate your customers, but you do have to be willing to meet with them at times that are convenient for them, even if it means you forfeit some family time occasionally.
When you have made the commitment, passed the course, and passed the test to get your real estate license, you are on your way to becoming a real estate associate. For most people, the next step is securing a position with a real estate company, although some people may already have a job offer. If you want something that has more steady hours, you may want to consider being an appraiser or real estate secretary instead of a real estate associate.
It isn’t difficult to learn how to become a real estate associate, but it does require a commitment and an understanding about the world of real estate. The long hours make it worthwhile when you finally get a sale to the settlement table, but the problem is, you can’t really count on your commission until that time. Many sales have fallen through even up to the day before settlement for any number of reasons, including failure of the seller to make requested repairs and a change in the financial situation of the buyer. It’s frustrating for a real estate associate, but unfortunately, it comes with the territory.
Before you decide on a career in real estate, it’s important to understand that you are paid on commission, which means, if you don’t sell anything, you aren’t paid. You also do not earn the commission until the sale closes. If you are just beginning, and this will be your only source of income, you may want to make sure you have some money set aside on which to live, until your commission checks begin to come in. You also want to make certain when they do, put some money aside because you may not see one for another month or so, depending how your sales go.
It’s a challenge to learn how to become a real estate associate, but once you are established, it is worth it. The key is for a real estate associate to reach the point where he or she can depend on commission checks coming in every week or every two weeks, however the companies decides to pay. Working in the real estate field can be very profitable, but you have to be patient and wait for the sales to begin developing first.
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14 Responses to “How to become a Real Estate Associate”
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Most people looking to get into the Real Estate arena think it is easy pickings and they will be making sale after sale when they 1st start. This is very rare. Real Estate is about relationships. It takes time to become established. It is good advice to make sure that you have money saved and don’t need a steady income for at least a few months.
Very good post. Thank you. My first dealings with a real estate agent when buying our first home was just as you described. He met us when it was convenient for us, and was patient as we weren’t sure what we wanted or needed in our first home. Thanks again for this insightful post.
To illustrate your point about real estate being a tough business look at the numbers. 80% of all new real estate agents quit within their first two years. While NARs numbers have soared in past years, 2008 membership is decreasing. In a hard market, only the veterans and the hard workers will survive.
Well its all about discipline. Most people think that its not hard to make 6,000$ commission on the sale of a house, because they don’t take into account all the work that goes into closing the sale. Great article! thanks.
In today’s market, I think computer and writing skills are essential. So much client interaction takes place online. Photo skills and presentation skills are important, too. Real estate, though, is like many other industries. You have to understand what you have to offer, what others are looking for, and how you can provide that need in the best possible way. Attitude and determination are crucial. Even in a tough market, someone who possesses all of this tends to succeed.
The Bible states in Proverbs 14:23 – “In all labor there is profit; But the talk of the lips leads to poverty.” Don’t just talk about what you are going to do, and don’t let the fear of failure immobilize you. Take as many opportunities to network and make yourself available to those who need real estate assistance as you can. Try to network through Chamber of commerce meetings, try starting up social networking opportunities in the online real estate such as meetup.com or Ryze.com or even facebook and MySpace.
Thats a great introduction to everyone looking to jump in the Real Estate industry. Thanks for the insight.
If any of you readers are in Alabama and would like to entertain getting an Alabama Real Estate License, then contact James Anderson at http://www.alabamarealestateinstitute.com in Orange Beach, AL.
The Alabama Real Estate Institute offers online Real Estate Courses for brokers and agents. The courses include Salesperson Pre license, Salesperson Post license, Broker Pre License, and Continuing Education (CE).
James is teaching my Broker Pre License class and has been a wealth of information not only in the course work he offers, but also in relating the practical experience he has had since beginning in real estate in 1972.
Cal
i think the most important think about being in real estate is the people skills you develop.
It doesn’t matter how much you know about real estate, you need connections and contacts.
Great sales skills are also a plus.
thanks for the great article!
People skills are essential in the property business, you have got to be able to connect with people and understand their motives.
If you can’t you aren’t going to get very far!
With the continual evolution of technology to be a good Realtor you need people skills plus internet skills plus marketing. People skills are important but if nobody knows about your services the people skills do not matter.
It’s really about finding a niche in your local market to be successful. There are just too many Realtors out there to compete with unless you have a huge social network, if not, try doing a niche like waterfront properties or condos.
I agree with the two points commitment and money.Now it is possible to do online real estate associate degree here cost is less so we can tell one problem has been minimized.I love your post.It is quite useful.Great Hug
Finding the right agency to work for is very important when getting your real estate license. I liked that you put that on your list. You want to get the right broker who has the same drive and motivation that you do, plus get a fair commission split.