getting a real estate license

Thursday, August 10, 2017

Marketing Tips for Real Estate Agents

Once you get your real estate license and become the local real estate expert, it’s time to start your marketing efforts. While you’ll make some progress in this regard through your neighborhood farming p lan, it’s important to always have marketing on your mind. You are, after all, your own boss. That means it’s up to you to promote your business and ensure a steady flow of new clients. But it doesn’t have to be an overwhelming task! Follow these five tips to get started on your marketing campaign.

Grow your email list

First things first. After you’ve gained a reputation as a local real estate expert, ensure that all your outreach efforts tie back into growing your email list. Once you’ve established yourself in the community through gifts and snail mail, encourage people to sign up for your email newsletter. In the newsletter you can share local updates and keep your name on residents' minds, so that when they start to consider selling their homes they’ll think of you. This will also guide people back to your website where they can learn more about you. Add a little fun to your emails with GIFs and humor, and make sure they're packed with value so people continue to look forward to your next newsletter.

Website lead capture forms

Make sure to include plenty of opportunities on your website for visitors to share their information with you. This goes beyond the contact page itself. Set up “calls to action” at the end of your blogs and other pages, with offers for free downloads and information when they sign up for your newsletter. Once they’re signed up, you can maintain them as leads. Make sure to couple this step with building an email strategy. Once you get visitors' information, you’ll need to establish specific email threads with information tailored to their stage in their journey towards becoming a client.

Referral program

As you meet your marketing goals and start getting clients, make sure that you get referrals and testimonials! This will be a big way of building your client list, as people making the big decision to sell their homes will want to do so under the direction of someone they know they can trust. Testimonials and referrals – especially from people they know well – can do wonders for your credibility. Incentivize reviews by also offering a little something special for those who do help recommend you. And of course, great service is an incentive all on its own - if you provide value to your clients, they'll be more than happy to provide testimonials and references for you.

Social media

Always stay connected on social media. Find which social platforms local residents are using most frequently, and then make yourself present there. Join community pages, put out social ads, and share important information on local real estate and community trends. This is one more space for you to establish yourself as an expert and gain the trust of those you hope to work with.

Know your local media

Don’t forget the value of local media outlets. Find out what materials – online, in print, on TV – local residents most enjoy, and put ads there! You can also pitch stories to local publications. Stay up to date on local real estate news, pitch the stories to local publications, and serve as an expert they can quote in the article. If you can provide value to the community and have this value highlighted in an article or TV segment that local residents will see, this will get your name out there and boost your credibility.

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Thursday, August 3, 2017

How to Crush it at Neighborhood Farming

After getting your real estate license, it’s time to start farming your community to become the local real estate expert. Follow these tips and you’ll be the go-to agent in no time!

Walk and Drive

Master your mental map of the community you’re farming. In order to become the go-to source for all info on homes in the area, you should have not only a statistical familiarity with it, but a personal account of it. Drive around and take walks through the neighborhoods, noting trends in properties and culture. Learn tips that would be of use to future residents – what are the best routes to local stores, which are the most walkable areas, where are the best parks and schools?

Send Post Cards and Little Treats

Once you get to know the area, it’s time to start reaching out to residents. Make your name and expertise known, and allow platforms for residents to feel heard as well. This may seem like a tall order, but it can be simple to start. Make a good impression with gifts – from notepads to magnets. Follow up with postcards so they know just where to find you. It will take consistent contact to make a lasting impression, so make weekly contact using different types of materials. Try coupling this mailing campaign with a door-knocking campaign – an in-person meeting has the potential to make an even stronger impression.

Get Involved

What’s better than being an expert? Being an expert who people know and relate to personally. Ensure that you make a strong and lasting impression by getting involved in the community and showing residents that you care. But how do you go about doing this? There are plenty of opportunities. Take your farming walks on Saturday mornings and visit garage sales. Don’t just stop by – talk to and connect with the people there. Visit local businesses and chat with the owners and clientele. Host plenty of open houses – and advertise them well with your mailing campaign. If you want to go really above and beyond, throw a block party! You’ll be providing a community service plus getting a new opportunity to connect with residents.

Update Your Real Estate Blog with Local News

As you learn about the area and stay up to date with all its happenings, keep residents in the loop! A great way to do this is through your blog. Write up regular newsletters that share local real estate trends and news, and share this through your mailing list – both snail mail and email. Encourage people you meet to follow you and sign up for your email list, and as they learn they can depend on you they’ll be more likely to sign up and stay signed up. This will help establish a consistent flow between you and the residents, while also strengthening your position as the local expert.

Connect on Social Media

Find community groups on social media sites and get connected! Many neighborhoods have group pages on Facebook where they share local updates. Join the conversations. Offer updates and advice of your own. Don’t use it as a time to blatantly advertise, but as an opportunity to actually build relationships. Your other marketing materials can do the advertising for you. The purpose of your social media presence is to solidify your name as a trustworthy source of information and as a valuable member of the community who is invested in its well being.

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Sunday, July 30, 2017

Become a Local Real Estate Expert

Local Real Estate Agent and Geographical Farming

There are a number of ways to establish yourself as a local expert as you begin your real estate career (see our tips on how to become a real estate agent and our guide to the typical day of a real estate agent). However, one major way to get yourself started is to practice geographic farming.

Just what is geographic farming?

Geographic farming is the practice of focusing on a specific neighborhood or area for the bulk of your business. You learn everything there is to know about the neighborhood the general culture of its residents, and you set yourself up as the local real estate expert. Anytime someone in the area needs real estate services, they should think of you.

How do you get started with geographic farming?

As you start the process of geographic farming, there are a few things you’ll want to keep in mind to ensure that your efforts are rewarded and well-spent.

Choose a location

First things first – you’ll have to pick a location to focus on! Especially as a new real estate agent, it’s a good idea to pick a location that’s relatively close to where you live and/or work. This will cut down on commuting costs and will allow you to come in with at least a basic level of understanding of the place to begin with. It’ll also be much easier to network in an area where you might already know a few of the residents personally. Make sure you take the time to do the research on your local market before you make your final decision, as there are a number of other factors that also come into play when picking a good location. For example, make sure the area has clear boundaries, is large enough to sustain your business, has solid average sales prices, and isn’t already overrun with local real estate agents.

Research

Research comes into play both before and after you pick a location. Plan to do some preliminary research as you narrow down your focus and select a neighborhood (see above). But even after you pick a location, the research isn’t over! Once you select your spot, it’s time to get to know it in detail. What are the residents like? What are their interests like? You can use this information to market to directly to their interests and to set up better communication with them from the start. Is there a neighborhood association? What does a typical family look like? All of this is valuable information so you know how to best advertise yourself to your potential clients. You’ll also need to do further research into the housing market of the area, so that you’re able to not only market yourself as a local expert but actually serve as and be a local expert.

Introduce yourself and set up a plan of consistent contact

Once you’ve selected your neighborhood and done your research to position yourself as the local expert, it’s time to make yourself known to your future clientele! You can start by introducing yourself, through something like a post card or a newsletter. Keep it short, pretty, and interesting, while showing right away that you 1) care about the neighborhood and 2) know your stuff. Make it personal and professional so you stand out as the local expert from day one. But don’t stop there! Continue to follow up with residents weekly for at least a few weeks, and spice up your methods of contact. Offer freebies, like local coupons and free post-its or notepads, and write up newsletters with insight into local real estate trends. Make your points of contact an opportunity to encourage residents to associate your name with offering value, even before they’ve signed up with you.

Set up open houses

The art of the open house is a new real estate agent’s best friend. Once you’ve acquired a local client, make sure you take the chance to do an open house. People love getting insight into their neighborhood’s market value and will be curious to explore, thus giving you yet another chance to network and make contact with your potential future clients. Plus, they’ll be meeting you in your element so you’ll have plenty of room to shine and make your mark. Make sure you accompany this with newsletters giving updates on local listings and sales. This will help people feel more in the loop with their neighborhood, and they’ll thank you for it!

These tips are just the beginning of all the fun and creative ways you can establish yourself as the local go-to real estate agent through the practice of geographical farming. Stay tuned for Part 2, in which you’ll learn even more great tips to become recognized as the local real estate agent that goes above and beyond for their clients and their neighborhood.

In the meantime, click below to download a complimentary real estate license exam practice test, and get started on your real estate journey!

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Thursday, July 27, 2017

A Typical Day for a Real Estate Agent

In an industry where you typically work independently and create your own schedule, there’s not exactly a standard for a real estate agent’s typical day on the job. Each agent’s day could look different from another. However, there are some pretty standard elements of any real estate agent’s day, and you can look forward to experiencing them as you begin your journey.

Getting Leads

Expect a good amount of your time to be devoted to gaining leads! More leads means more clients, which means leads are your ticket to making a living! There are a number of ways to gather leads, including cold-calling and working with your sphere of influence. Hopefully you’ve read our previous tips and have already started building your network of mentors. This network then becomes a vital part of your sphere of influence, assisting you in generating additional leads. This sphere will also include current clients who refer you to their friends. In addition to this, never underestimate the power of good marketing for getting your name out there. You’ll need to spend part of each day growing your leads so your business can consistently grow.

Marketing

While your network of mentors and your place within your brokerage should assist you in generating leads, you’ll also need to widen your reach with marketing. There are plenty of ways you can get your name out there, from getting referrals through current clients to throwing housewarming parties to listing on real estate search sites. But one simple place to start is by building a website and social profiles. This gives everyone who finds your name an easy way to search your services online. Whatever marketing methods you utilize, you’ll want to check in on your methods and their progress each day.

Checking in on Clients

Maintaining solid positive client relationships is essential to your success. Not only does pleasing your clients lead to earning your commission, but the greater impact you make on your clients the more likely they are to refer you to their friends. This requires daily upkeep as you check in with each client through learning their needs, researching the market to meet their needs, taking photos of properties, and negotiating between buyers and sellers. Checking in on clients also includes showing properties through making appointments and setting up open houses. You should also be checking in with clients even after you make a sale.

Paperwork and Administrative Tasks

Sold a house? There’s paperwork to go with that! In addition to the more active aspects of life as a real estate agent, there are plenty of administrative duties to support them. Budgets, agreements and lease records, distributing marketing materials, data entry, and more will all be required to keep your business flowing. Once you get your business running, you might consider hiring an assistant to help with these responsibilities. But until then, prepare for this to be part of your daily routine!

Continuing Education

Your state probably requires you to meet a quota of hours for continuing real estate education each year, in order to maintain the validity of your license. But if you want to stay ahead of the curve, you should also work to go beyond these required courses to learn everything you can. This means staying up to date with trends in your local market and seeking additional certifications.

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Friday, July 21, 2017

How Much do Real Estate Agents Make?

As you begin your real estate agent career, you may be envisioning glamorous television real estate moguls and anticipating making the big bucks. The potential for making big commissions is a definite possibility, but it’s important to have realistic expectations of what you’ll be making, especially in your first year.

The median annual earnings of a real estate agent in the U.S. are about $46,410. However, this is by no means a limit to your potential annual pay. In fact, you could make much more (or much less) than this depending on several factors including location, experience, taxes and expenses, and overall effectiveness at selling homes.

Location

The housing market where you work could make all the difference in how much money you make as a real estate agent. If you’re working in an area with lower housing values, there is less room for your commission to grow. However, if you’re working in an area with significantly higher housing values, such as Beverly Hills, your commission will naturally grow along with it – running even into the millions annually! Of course, this also requires a significant level of experience and sales talent.

Experience

When you first start out, you’ll need to work under a real estate broker. You may choose to continue doing so even down the line, or you may eventually become a broker yourself. Either way, when you’re working under a broker, your level of experience will effect the percentage of commission that you actually take home per sale. In the beginning, you’ll likely be giving your broker over half of whatever commission you earn.

Taxes and Expenses

As a real estate agent, even within a brokerage, you’ll be working as an independent contractor. As such, you’ll be responsible for paying your own taxes and paying for necessities such as health insurance and marketing. Prepare for these expenses to take a portion out of your earnings, and set aside a portion of your income throughout the year in preparation for paying taxes.

Effectiveness

Ultimately, the most important determining factor in your earnings will be the effort you put in and your effectiveness as an agent. If you consistently work hard, go above and beyond for your clients, do your research and always provide the best service, you’re likely to end up earning a much better income than someone who only sells occasionally or who doesn’t give their best to their clients. You’ll be able to sell higher value homes and more of them, which will ultimately be reflected in the amount you take home with you.

As you’re getting started, it may be tempting to envision a glamorous lifestyle and simple work. However, as you start working as your own boss in a highly competitive field, you’ll need to bring your A game and be prepared for the additional expenses you’ll incur as an independent contractor. The more you know the playing field, and the more you’re willing to work, the more potential you have to make that luxurious commission.

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Monday, July 17, 2017

Is a Real Estate career Right for You?

So, you’re considering a career as a real estate agent! You’ve chosen a great industry, with plenty of opportunities for growth. But how do you know if it’s right for you?

You don’t have to be a housing expert to become a real estate agent, and you don’t have to come to the field pre-equipped with all the skills and knowledge. You’ll learn many of the technical things through your licensing course and on the job. But before you take those steps, see if your interests are in alignment with a real estate career by looking at some of the typical requirements of real estate agents.

Below, we’ve listed some of the ways you can tell if a career in real estate is right for you. So you can get out that pen and paper, and start making your pros and cons list now!

Be Your Own Boss

Although you’ll be working under a real estate broker (at least at first), as a real estate agent, you’ll need to possess the ability to work independently. Whether you continue working with a broker or become a broker yourself, you’ll need all the skills of being your own boss! On the surface, this may sound like a no-brainer in the “pros” column, but keep in mind that this also requires a high degree of organization, focus, and dedication.

Flexible Schedules

This one goes right alongside being your own boss. Real estate isn’t your typical 9-5 job. Again - whether this goes in the pros or cons list is entirely up to you! On the pros side, you won’t have to be in an office for eight or nine hours every day, and you’ll have more freedom to take care of miscellaneous personal tasks throughout the week. However, as a real estate agent you’ll need to be open to working some odd hours, and sometimes up to 7 days a week. Your schedule depends on the needs of your clients. Keep in mind that for many people, the only time they have free to look at houses is after work hours or on weekends.

Helping People

Do you love working with and talking to other people? This is a must for real estate agents! Your job will be to assist people as they make one of the biggest financial decisions of their lifetime, and for most this is also a big emotional and personal decision. As a real estate agent, you’ll need to be prepared to assist your clients with care and compassion. If you’re ready to do so and enjoy helping people, real estate could be a hugely rewarding career for you!

Problem Solving

No job comes without its fair share of hiccups and roadblocks. Real estate is no exception. You’re bound to face unexpected complications in your transactions, and you’ll need to be prepared to solve those problems and walk your clients through them (with at least the appearance of ease).

Interest in Housing, Interior Design, or Architecture

You don’t need to be an expert in architecture to become a real estate agent, but you should at least have an interest in home design, architecture, or decor. It might get pretty difficult to sell a home if you yourself aren’t interested!

So - is real estate right for you? You can use these tips to start building your pros and cons list, gain a little insight into your interests and strengths, and see how they might serve you in a real estate career!

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Thursday, July 13, 2017

Is a Real Estate career Right for You?

So, you’re considering a career as a real estate agent! You’ve chosen a great industry, with plenty of opportunities for growth. But how do you know if it’s right for you?

Below, we’ve listed some of the ways you can tell if a career in real estate is right for you. So you can get out that pen and paper, and start making your pros and cons list now!

Be Your Own Boss

Flexible Schedules

Helping People

Problem Solving

Interest in Housing, Interior Design, or Architecture

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