6 steps to getting your real estate business started

If having a career in real estate is your dream, you probably already know that you can’t simply print business cards and start showing houses. Assisting those who are buying and selling property involves delicate matters of high finance, confidential information and other serious trust issues that the real estate industry carefully protects. To ensure agents are trustworthy, understand the laws and know what they are doing, they must qualify for state licensing.  

Obtaining your license starts with meeting the eligibility requirements, taking the appropriate courses and passing the real estate exam. While you are doing these things, you can also be planning ahead for the time when you will be in business as a real estate agent. 

You can do this! 

Even though it may be years before you decide to get your broker license and go out on your own, you should still think of your work as a business. You may be working for another broker in an office with dozens of other agents, but your business is your own, and you should embrace that opportunity. This means taking the following steps to improve your chances of success: 

• Make a realistic budget for your personal and business expenses for at least a few months since you may not earn a commission right away. 

• Talk to other agents to get an idea of how much it will likely cost you to get started and how much you can expect to earn in the first year. 
• Be choosey when picking a sponsor broker by considering the number of agents working there, the kinds of listings and the length of commute, among other things. 
• Marketing is the key to your business, so create a plan and include this expense in your budget. 
• Set up a website that is informative, interesting and well-maintained. 
• Network any way you can by handing out your cards, attending events, and asking friends and family for referrals. 

Success in real estate does not happen overnight, and this can get discouraging for many agents. Ideally, the time you spend balancing your licensing courses with your job and family obligations may help you learn some key habits of discipline, such as how to avoid procrastination and other time-wasters. By setting goals for your business and the steps you can take each day, week and month to reach those goals, you may be on your way to building a successful and satisfying career.