A broker’s life; interested?Real Estate Thursday, September 3rd, 2015
Selling real estate is a terrific career for lots of reasons. But not everyone has the temperament for it and will excel. In every real estate office there is always a star performer, one who sells the most and walks around with a smile on his or her face. What are the qualities that are required, and how can you know if you’ve got what it takes?
One of the reasons folks contemplate a career selling real estate is that it is a flexible career, not necessarily a 9 to 5 job. A real estate salesperson or broker, even if he is aligned with an office where he is not the managing broker, in a sense has his or her own business. What that means is that you can determine how much time, money and energy you invest in your career.
In most cases, no one is paying you a salary; you work on commission only, and this can vary from month to month and year to year. This instability is uncomfortable for many people, especially those who do not have money set aside for the slow times. I always recommend that newbies starting in the business set aside at least six months’ worth of income to cover their expenses. Learning the business takes time, building a clientele and following does too, and it may be slow-going at first.
Real estate sales is a great career for an independent, energetic and outgoing individual. You can’t be shy and retiring when searching for listings and confidence plays a big part in convincing others that you’re the broker they’d like to work with. There’s lots of competition in the business, and the stronger, more resilient folks, especially those less in need of the commission, tend to leap out front.
A broker has to win the trust of both seller and buyer, and personality plays a big part in shaping a successful career. In our daily practice, we need to not only know our business cold, we need to be a bit of a psychologist, mediator, financial guru, and yes, even mind reader, to make the selections for our clients that are just right, and then to get them to the closing finish line. It’s not as easy as it seems, or as simple.
Every state has specific licensing requirements for real estate salespeople and brokers. In the state of California, you must be over 18, be a legal resident and have a clean record. You must take three college-level courses, one in Real Estate Principles, one in Practice, and a third chosen from a list. Each of these courses will require a passing grade on a final exam, and once these are taken and passed, the individual may apply to take the State Licensing Exam.
The courses and exam are difficult and require considerable study and review. Multiple choice exam questions tend to be tricky, with a couple of answers that seem correct. Reading the questions carefully is recommended. Once the exam is passed, your license will be issued immediately, and you can get to work.
Perhaps you’ll wind up that star in the office. Be patient, work hard, know your stuff and smile. It won’t be long before you have a sense of whether this career, where happily every day is notably different, is truly the one for you.
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