Realty Times March 13, 2003

Starting A Career In Real Estate
by David Kopec

Starting any new profession is a challenge, but when that new profession means putting yourself out there for others to judge, the process becomes that much more difficult. Real estate sales is no exception. Those Realtors who are just starting in the business tend to find the initial stages of their job daunting.

First, there is the intense competition from their colleagues, then they must develop a clientele with little knowledge regarding business development practices, and on top of this, they must appear confident even when they are questioning everything they say or do inside.

As the population grows and the future state of the stock market becomes more precarious, solid investments in things such as real estate become more and more attractive. However, the lure of high housing costs, potential for big profits, and relatively quick entry into the field entices many to join the ranks of Real Estate Sales. For many who enter this field, the romantic ideas blind them to the harsh reality that it takes time, sometimes years, to establish a solid clientele that makes the profession lucrative.

During the initial stages of this new career, the professional may be forced to take on anther job, count every penny, and spend long hours with little to no compensation. In the past, many new agents found their success by sitting in open houses, cold calling, and subscribing to referral databases. And, while these modes are not completely obsolete, the modern-day real estate professional needs to start thinking out-of-the-box if they want to become part of the upper 10 percent that draws the large annual income. Below I have listed some ways in which a new Realtor may choose to proceed as part of their overall strategic plan to build their name recognition.

The first thing any new Realtor should do is to build a name for him or herself, and realize that money is going to be extremely tight for the first year or so. The good news, however, is that Realtors have many avenues to explore when building a name for themselves. Because the general populous perceives Realtors, like nurses, as being all-knowing, the options for exposure are numerous.

Any new Realtor would be silly not to take advantage of this perception. They can participate in City Planning, speak on topics related to Architecture, Environmental Psychology, Decorating, Construction, Sales, Marketing, Land Use, and the list goes on and on. The key is self-education. As part of your name building endeavors, a new Realtor should be educating themselves on the many facets of real estate, and it should be part of their goal to establish themselves as an expert.

During the first year in establishing your reputation and ultimately clientele base, the new Realtor will undoubtedly have a great deal of time on their hands. It would behoove this new realtor to use this time for research. The first thing I recommend is to learn about professional conferences, community clubs and organizations, and city sponsored community meetings. Then, think about what you can offer this group as it relates to real estate. Put together different proposals, complete with an agenda and offer to give these presentations pro bono to the various groups. For example, most communities have some form of gardening club. Find these clubs either through the Internet, phone book, or asking the employees at local garden centers. Then, put together an hour presentation on the impact of gardens when selling a home. People love nothing more than to learn that their hobby actually translated to increased equity or desirability. Make sure, however, that you thoroughly research the topic that you will be discussing. Nothing destroys credibility faster than knowing less then the audience and/or bungling up the presentation.

The next thing a new Realtor may want to do is start participating in community events. The key here is to let the community that you want to specialize in know that you support and plan to give back to the community. This shows your invested interest in the community and to its constituency. For example, maybe you organize a day for litter and graffiti removal. What you would do is go house-to-house and solicit volunteers to help you clean up the community on a predetermined day. Most people will donate a couple of hours to help clean up their community. The key here is a couple of hours. Saturday morning from 9-12 would probably yield the best results. Once you have your volunteer staff, you send out press releases to local news stations asking them to cover the event. This way, you not only get noticed in your target community, but the media coverage also gets you wider exposure.

In addition to the above, you will probably want to run for some sort of community office. Maybe it’s a seat on your association board, or a position on a community planning board, or ever a position on a social service collaboration governing board. Typically, the time commitment for these positions is nominal, but they give you good exposure for referrals, and your participation reaffirms your commitment to the community.

While I have only provided a couple of ways for a new Realtor to market him or herself, the options are limitless; one only needs the imagination and the fortitude to follow through. The reality is that those real estate sales people that started their careers many years ago did so at a time when competition wasn’t nearly as fierce as it is today, and when more people could actually afford property. Today, we live in a new world filled with more lifetime renters then ever before, more people loosing their homes and reverting to a rental status, and more individuals entering the field of real estate with the hopes of grandeur. This all means that the competition for success has increased two-fold, and if you want to be one of those new Realtors to succeed in the industry, you must start being creative and innovative in the ways that you build your reputation.



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