Things to Remember Before You Begin Your Career As a Real Estate Agent
The real-estate industry is one of the most lucrative industries and having a career here can do wonders for your income. It offers complete flexibility and with the right amount of experience, you can even start your own estate company. It gives a person all the freedom he needs. They do not need to stick to a 9 to 5 job pattern. They can come and go as they please. However, there are several people who jump in with both feet and find themselves trapped in it. Unrealistic expectations can wreak havoc and you need to remember certain things to ensure that you enjoy a long lasting and fulfilling career in the real estate business.
1.) Real estate agents do not get a weekly pay:
The first thing that you must keep in mind when contemplating starting a career in real-estate is to know that you will not be paid on a weekly basis. They do not get paid by the hour. It is the number of sales that decides how much income the real estate agent will earn. When an agent manages to sell a commercial office in bkc, he receives a commission. This commission is based on the sale price of the office. A typical commission for a real estate agent can be anywhere between 3% and 6%. It can be more than this too. The buying and the selling agent tend to split this commission. The idea may sound rewarding but there are certain factors that you should bear in mind before taking the plunge. Sales of commercial real estate may not be a regular activity throughout the year. Therefore, sorting out the income is extremely crucial.
2.) Generating of leads should be on the top of your list:
Getting a estate license is important but you once you have that, your work should not stop there. To ensure a great fulfilling career, you need to prioritize certain factors and lead generation is one of them. Failure to generate leads will lead to lesser number of clients and this will immensely affect your earning capacity. Agreed, customer service is crucial too, but at the same time generating leads will ensure that you do not have to wait too long for the next client.
3.) Save enough money initially:
You may find yourself the perfect client for a commercial office and you may even be successful in getting the contract signed. However, you may not receive any earnings until the property closes. This could end up being a fairly longer procedure than you had expected. It could take anywhere between 30 and 60 days. Sometimes, it takes as long as 120 days for the procedures to get completed. For this reason, it is essential that you keep some savings to ensure you have enough to get you going until you receive the income.
4.) There will be other costs to look after:
Being in the real estate company may cost you a little money. Spending this money is essential to get some recognition. This will enable you to get more clients. You will need a good sum of money to offer the broker that you are associated with. You will also need to pay phone bills along with spending money to get banners, flyers and other website and advertising costs. You will also need money for lead generation purposes.
It is important to keep these factors in mind before deciding whether commercial real estate is the right career for you.
1.) Real estate agents do not get a weekly pay:
The first thing that you must keep in mind when contemplating starting a career in real-estate is to know that you will not be paid on a weekly basis. They do not get paid by the hour. It is the number of sales that decides how much income the real estate agent will earn. When an agent manages to sell a commercial office in bkc, he receives a commission. This commission is based on the sale price of the office. A typical commission for a real estate agent can be anywhere between 3% and 6%. It can be more than this too. The buying and the selling agent tend to split this commission. The idea may sound rewarding but there are certain factors that you should bear in mind before taking the plunge. Sales of commercial real estate may not be a regular activity throughout the year. Therefore, sorting out the income is extremely crucial.
2.) Generating of leads should be on the top of your list:
Getting a estate license is important but you once you have that, your work should not stop there. To ensure a great fulfilling career, you need to prioritize certain factors and lead generation is one of them. Failure to generate leads will lead to lesser number of clients and this will immensely affect your earning capacity. Agreed, customer service is crucial too, but at the same time generating leads will ensure that you do not have to wait too long for the next client.
3.) Save enough money initially:
You may find yourself the perfect client for a commercial office and you may even be successful in getting the contract signed. However, you may not receive any earnings until the property closes. This could end up being a fairly longer procedure than you had expected. It could take anywhere between 30 and 60 days. Sometimes, it takes as long as 120 days for the procedures to get completed. For this reason, it is essential that you keep some savings to ensure you have enough to get you going until you receive the income.
4.) There will be other costs to look after:
Being in the real estate company may cost you a little money. Spending this money is essential to get some recognition. This will enable you to get more clients. You will need a good sum of money to offer the broker that you are associated with. You will also need to pay phone bills along with spending money to get banners, flyers and other website and advertising costs. You will also need money for lead generation purposes.
It is important to keep these factors in mind before deciding whether commercial real estate is the right career for you.