The pandemic made us realize that our future isn’t set in stone. Overnight, people found themselves locked in their homes and with plenty of time to think: is it worth it to continue living in a crowded and expensive city? Should I keep working 8 hours a day at an office? And a more radical thought: is this the time to change my career? Just in case you’re wondering, we’d love to jump in and give you a hand in our area of expertise.
Real estate is a field with many perks. It provides you with flexible hours, money, and even the opportunity to be self-employed. It’s an industry where you can enter at any time. Your success doesn’t depend on your age or gender but your attitude and interpersonal skills. You need to be an optimistic and can-do type of person. To conquer, you’ll have to help and care for others, and create a network to work with.
We don’t want to give you the wrong picture: it’s as challenging as rewarding. So, if you’re already excited about working in real estate after this introduction, keep reading! Before taking the leap, there are some things to take into account.
1- Do your research
The first thing to do is to learn as much as you can about real estate. Find out what works best for you: is it buying and selling, is it flipping, is it wholesaling? Or maybe you’re more interested in being a contractor. Whatever it is, try to learn each role’s tasks and maybe talk to people who’re already working in the field.
This way, you can either confirm your new career path or conclude that this is not an area for you. Also, you’ll be building your network by meeting experts. Once you make up your mind, you’ll be able to plan and move forward to the next advice.
2- Educate yourself
You found your niche, that particular job you really want to pursue. Now it’s time to study! The idea is to have some formal knowledge to give you confidence and make better decisions. Moreover, there are some jobs, like if you want to be an agent, that require a state license.
It’s critical to find a course that suits your needs. There are present and online syllabuses with different lengths and prices. Keep in mind that this is not the only education you’ll need. Real Estate is a changing industry, so you should keep training whenever possible (for instance, you can sign in to our free webinars!). A good piece of advice at this point is to find a mentor that can not only help you but also listen to you and check your progress.
3- Get in the right mindset
Real Estate is not only made of deals and money. You might encounter difficulties along the way, properties that you won’t get, and sales you won’t be able to close. It’s critical that you don’t get let down with these kinds of things. Failure is typical, and the best way to face it is to learn something from it to prevent it the next time.
Your attitude should always point to a positive and confident direction. If you have strong personal skills and build a valuable network, deals will come along.
4- Save some cash
It’s no secret that cash is a requirement in almost every field. You’ll need some savings to start your career, get a license, and drive around. Remember: real estate is a business, so design a realistic budget and be aware of your expenses. Knowing your finances enables you to use them wisely.
In this particular topic, it’s useful to find tools to optimize your time and capital. Maybe software that runs comps for you, or sends you daily lists with motivated and distressed sellers, or even includes the skip tracing of each potential seller.
5- Create your personal brand and build a business strategy
As we said, real estate is a business, not a hobby. And to make the most of it, you should take it seriously. First of all, you’re not only selling houses; you’re selling yourself as the best person to handle a deal. Think about what you want to communicate, what you want to be known for. All these insights will end up being your personal brand, the signature that will follow you around, independent of the place you’re working for.
Once you know what your work ethic and your trademark are, start planning. Walk your neighborhood to detect needs and think about a way you can fulfill them. Monitor your competitors to see what they’re doing and to find out what they’re lacking. Find out your strength, that unique quality that sets you apart from them, and then develop a business strategy with realistic goals to achieve.
Coming up with a plan will help you focus on accomplishing your objectives. Use all the technology around to optimize your time –like our Premium Off Market Leads– and expand your reach (maybe these tips on using Instagram to get leads will come in handy!). And always evaluate your performance, so you can adjust what’s necessary to succeed.
Do you have another tip to add to the list? Feel free to post it in our comments!
Disclaimer: The blog articles are intended for educational and informational purposes only. Nothing in the content is designed to be legal or financial advice.