Do You Have What It Takes To Become A Successful Real Estate Agent?
In My Thirty-Five Years Of Being A Successful San Francisco Real Estate Agent
I have been approached by many real estate agent wanna bes. This is the advice I give to those considering changing their careers:
Obtaining a real estate license is fairly easy, but landing a sale and actually getting paid is much more difficult. Real Estate is 100% commission-based. This means that if you don’t make a sale, you don’t get paid. Not one dime. Unless you are very lucky, almost everyone struggles to make their first few sales, and work up a consistent selling strategy. As per my experience, I recommend having at least a year or two of savings to tide you over as you get your feet on the ground. It is important to note that, as with all beginning entrepreneurial careers, you should expect to put in long hours – at least sixty hours a week for the first three to five years!
Also, from what I’ve seen, most people who work in real estate – myself included – did not intend to end up there. Many started working in sales professions, even professions as different as medical research, and found that their career paths were unfulfilling or unsuitable. Whatever path has led you to pursue Real Estate, having a background or at least experience in a different field is always helpful. Frankly speaking—and I absolutely love what I do–Real Estate is a ruthless field that requires a tough skin and a lot of ambition. If you are up for the challenge, having a little creative spark and a lot of ambition, this just might be the perfect career for you.
Real Estate Clients And Real Estate Closing
You may be like the proverbial boxer who comes out of the gate swinging, but if you don’t have any clients, you won’t be able to make a sale. What many new agents don’t realize is that the onus is on them, not the company they work for, to find clients. They might provide opportunities in which to meet potential clients, but it is up to you alone to make the golden connection.
Real Estate Clients can come from many places, so start small. Ask yourself: Who in my family or group of friends might be looking to move soon? Is anyone expecting a child or getting married? Next, think about the organizations you belong to: religious groups, health clubs, and social clubs are all great places to meet potential clients. It certainly helps if you are outgoing and enjoy socializing, since Real Estate at its core is all about working with people. Even if you don’t have a huge social network a career in Real Estate is still possible. You just might have to stretch yourself and do a bit more preparatory work before diving headfirst into your new career.
Real Estate is a fascinating and exciting profession where no two days are alike, and you can make much more money than you would in a standard salaried job. However, you need to be prepared for the competition. As I said, no one gets paid without making a sale, so agents, often within the same company, will be aggressive. While this can seem intimidating for someone starting out, it should not deter you. If you trust in yourself and are confident that you have the same ability to sell those top listings as any veteran real estate agent, you will eventually do so!
Like other professions, a Real Estate Career is rife with ups and downs. While it can be exciting that no two days are exactly alike, it can easily become an emotional roller coaster. I recommend finding a mentor— someone who has worked in the industry for a long time and will generously put aside their competitive spirit to show you the ropes. I was lucky to have such a mentor, and her name was Bette Mae. I came to her after one particularly hellish day – no sales, rude clients, you name it. She listened attentively, and then said, “Paula, I understand what you’re going through. I’ve been there myself, and there’s nothing I can say that will turn your mood around. But going forward you’re going to need to have the courage, tenacity, discipline and confidence to hang in there when things get tough. Do you have it?”
I decided right then and there that, yes, I possessed those qualities. I used my setbacks as learning experiences. After dealing with the first round of difficult real estate clients, I was prepared to approach the next difficult situation. After going through a huge stretch of time without making any sales, I examined where I was going wrong and changed my approach for the next time. Do you also have the courage, tenacity, discipline, and confidence to hang in there when things get tough? If so, you’re ready for your new real estate career!
Please send me any question that may occur to you. I would be delighted to answer you the very best way I can. I believe there’s plenty of business in this industry for every one of us, and we don’t need to be cut-throat to get it!
Be aware that any clients names have been changed to protect their privacy. Furthermore, Paula Pagano does not accept any liability for the content of any Blogs and this Website or for any actions you take or resultant consequences of actions taken based on the information provided in this communication. Any advice is my opinion after being a 35 year experienced real estate agent in San Francisco.