Posted by: J.Y. Monk Real Estate School
Published: January 25, 2018
Has becoming a real estate broker always been in the back of your mind? Are you ready to take the next step to beginning a career in real estate? There’s much to learn about a career in real estate. Below are some questions to ask yourself to make sure you’re ready to make the leap.
How Successful Do I Want to Be?
Real estate is no different than other careers in at least one regard. You get out of it exactly what you put into it. Self-motivation and hard work allow you to have virtually unlimited income potential, but the reverse is also true. Less effort will likely mean less pay.
What’s My Plan?
The easiest way to fail as a real estate broker is to begin your endeavor with no plan. Having goals, a business plan, and a marketing plan are essential from the start. Breaking those plans down into daily activities and measurable tasks will help you stay on track to meet your goals consistently. Most likely, you’ll only report to yourself, so holding yourself accountable is something that can make or break your success.
How Much Do I Have Saved?
If you commit yourself to a new career as a North Carolina real estate broker, there will almost surely be a period of time between being licensed and earning your first check. Do you have enough saved to live day-to-day AND cover your initial startup costs? Putting money away as soon as possible will help make the transition easier.
Who Will Be My Boss?
For the most part, you. The broker you choose to work for will likely keep an eye on how you perform, but mostly you are accountable for your own success. Because you have the biggest interest in your own success, being disciplined and sticking to your plan will impact how successful you become.
Am I Willing to Work Weekends?
As a real estate broker, there is a very good chance you’ll be working weekends. While you may be able work on your own schedule, you make money by serving your clients. Your clients shop for homes when they are available, and many of your clients are most available on weekends. To serve those clients, you will feel pressure to fit their availability. Compromise and open communication with clients are usually the best ways to navigate how often you will be working weekends, as balancing a personal life and career are important for your overall health.
How Will I Set Myself Apart?
This is a question only you can answer. The great thing about real estate is that almost everybody knows someone who is looking to buy or sell a home. The downside is that almost everybody knows a real estate broker. What makes you special? How will you make your clients’ experience better than if they went through a different broker? You will need to develop your brand to differentiate yourself from the competition.
What Am I Looking to Gain?
Real estate can be a merciless industry. It can also be one of the most rewarding. Overcoming challenges to serve your clients and seeing the difference you can make in their lives make real estate a satisfying career. Dedicating yourself to client service and hard work can make for a rewarding career and good life.