What To Do After You Get Your Real Estate License
You did it! You worked. You studied. You dreamed. You envisioned a rewarding career. And you got your real estate license. Congratulations! Now comes the fun part… putting your knowledge and education to work in a fast-paced field, full of both challenges and opportunities.In other words, it’s time to put the pedal to the metal and get going. How? By making an exact list of what to do after passing your real estate exam - and working diligently to cross those items off. Let’s go: we know you’re ready.
You're a Real Estate Agent - Now What?
We've put together a few things you can do to kickstart your new-found career path from our experts.
Find Your Broker
You’re ready to tackle the industry, but the law requires that you work with a real estate broker. While you may be an independent business person, you need to work under their brokerage license - but you also benefit from their experience, guidance, and protection. This is why it is so critical that you find the right fit. Look for a solid reputation, an excellent continuing education program, and less tangible aspects, such as the ability to form a great working relationship. Ideally, your broker is also a mentor.
Be aware that you’ll need to share commissions with your broker. They are, essentially, putting themselves and their licenses on the line for you. So, they may operate on a flat fee basis (i.e., you pay a set monthly broker fee) or on a commission split basis (i.e., a 70/30 split is standard. This means you’d keep 70% of commission while paying the broker 30%. Specific percentages vary).
Set a Marketing BudgetFor go-getting professionals, real estate is fantastic because you are in business for yourself. This can also be a challenge since you are your business, which means marketing yourself is a critical part of the job. Getting your name out there is a top priority, especially when you are new in the field, even if you work with a broker. People need to know and trust you. At the least, you will need:
- An attention-grabbing website with clear, concise, and useful information.
- Written and video content. You can host this on your website and social media. It’s paramount that you establish yourself as an authority and a trusted guide through the real estate process. Content is the way to do this.
- Business cards. They may be “old school,” but they are a must when you attend conferences, open houses, client meetings - and when you bump into people at the grocery store!
- NAR membership. Become a member of the National Association of REALTORS. This will help you gain more exposure and insights into the industry.
- A winning wardrobe. The clothes do not make the man or woman, but they contribute to the impression people have of you. You’ll need quality business attire. Find staples that you can interchange for fresh looks and build from there.
Advertising with Homes & Land is an ideal solution to explore after you get your real estate license. You can shine a spotlight on your listings, elevate your brand, and connect with the leads who can propel your business forward. Things you can be proactive about include:
- Join the Right Organizations. We mentioned NAR. Join. Be active. Get the most out of it that you can. But also look into other industry groups that can help you make connections, network, and hone your knowledge in the field. You can also find groups that target your particular niche, such as the Society of Industrial and Office Realtors, the Institute of Real Estate Management, the US Green Building Council, etc.
- Network. Then Network Some More. You’ve heard it before: what you know isn’t as important as who you know. (We think the what is critical and the who is essential. You need both!) Connections can lead to client relationships and/or referrals, which are fuel for your business. Go to open houses or host your own; connect with colleagues over coffee; go to mixers and local/regional meetings; join local business groups; get involved in your community and volunteer.
- Nurture Your Network. Yes, networking is so important it gets two spots on our checklist. Building a network is all well and good, but it’s not going to benefit your business if you let contacts wither on the vine. Stay connected, and stay top of mind.
For example, send a client who just moved into their home a fruit basket (or better yet, a few gift cards to local businesses so they can get comfy). If you’ve met someone who might someday soon want to buy/sell a home, send them an email now and then. Include a link to your website content with helpful information (e.g., an article you wrote, “How Do You Know If It’s the Right Time to Buy/Sell?”).
The list of what to do after passing your real estate exam can go on and on. We have highlighted the most critical in establishing your career. Take the first steps today: visit Homes & Land to get started.