Business Plan Presentation Tips

What can I do from now until I get my Real Estate Agent license?

I will be taking my state license test in New York in December and I won’t be applying for my license until I get a car which would probably be about a year from now. Now that I am learning all the school required information to get started what else can I do to train myself before I actually work for an office.

Congrats on getting in the business!

Lots of things you can do to jumpstart the career:

Sales training – one of the most important aspects of successful (and enduring) real estate careers is understanding that real estate is a sales job – it’s more than just being friendly and helpful! As such, reading as much as possible on sales skills it’s tantamount to quick and long lasting success. Topics: overcoming objections, features vs. benefits, closing techniques, proof & support statements, etc.

Become an assistant. Interview with a top agent at a top company in the area and learn the facets of the business from someone who has already gone through the trials and tribulations of the business and thrived! Watch their business model and learn what works and what doesn’t work. Success modeling is a great way to race up the learning curve.

Start a farm. Choose a neighborhood/subdivision/area with about 150-300 houses that you think will have a good amount of turnover after you get your license and learn everything there is to know about the area, the homeowner’s association, the active listings, the sold listings, the schools that service the area, the principals, the nearby shopping, the president of the PTAs, the tax rates, everything! When you get your license, use that knowledge and preparation to hit the ground running with your farm area!

Create your sphere of influence. Write down the name, address, email and phone number of everyone you know and likes you. This is your sphere of influence. Everyday, add to it as many names as you can. Once you get your license (i wouldn’t wait the year btw) you can immediately start working your sphere for quick listings, quick buyers and instant referrals. Much easier calling people you know than knocking on doors!

Become a market expert. When you first get in the business, you don’t have many competitive advantages. One thing you can do that most agents (even top agents) don’t do is know the market inventory better than your competitors. If you can get your hands on a keycard, go preview 10 homes every single day and start to get an idea of what homes cost in certain areas given certain amenities. If you don’t have access to a real estate keycard, go drive open houses every saturday and sunday and go in every single one you find and learn home prices.

Become a contract expert. You’ll be mortified to find out that having a license doesn’t mean a person knows or fully understands all the contracts that are used in real estate. As an instructor, I don’t even get shocked anymore how little some Realtors know about our most important paperwork! Take your state listing agreement, purchase contract and disclosure notice and break them all down into paragraphs (you can use notecards – one for each paragraph) and study the contracts until you can explain them THOROUGHLY without reading them. Each blank on a contract represents an opportunity to make your client money or cost them money – learn which is which.

Anyway, best of luck in your pursuits!

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