Real Estate is not for everyone.
Here's my take on what it takes to make it in real estate.
Years ago it was a small investment to complete your schooling and become an agent. In California you can finish your course and be a licensed agent within a six to eight weeks. Then you get to go to work for a Broker, which is an entirely different animal. A licensed agent has to work for a Broker in order to perform real estate transaction duties. A licensed agent does not represent the client – Let’s be very clear about this. A licensed agent works for and represents an agency owned and or operated by a Broker of record.
Brokers are the ones who represent the client. Brokers are 100% responsible for the activities of their clients and the agency they own, operate or represent as Broker of Record.
Ask yourself this, “ do I want to work for an agent owned office or for a seasoned responsible Broker. Yes, these do exist. As a responsible Owner, Broker, I resent agent owned offices. It is a short cut, go around, outside the criteria of the safety net and purpose of the industry. Agents who rent a Broker to be in business are posers. Do you really want to work for a Broker who is not present. Agent owned offices are irresponsible at the ground floor and every floor in between. Let’s face it, agents who cannot pass the test, are not willing to do the work to get the education or accept the responsibility of being their own broker in an office they wish to tout as “I’m the owner” are not for real. They are lazy, and do not represent any level of duty to their clients. This duty is exactly what our industry licensing, rules of compliance and ethics mandates are all about.
The other misconception most individuals do not know about being a licensed real estate agent is that not all agents or brokers are Realtors.
Ok, so you’ve studied, passed your eligibility courses and now you’ve passed the test. You don’t know shit! Now you need to learn the business. All those numbers, rules, duties, calculations laws, ethical matters and requirements don’t mean a thing until you get to work in the industry. You need training !!! You need training from seasoned professionals who can teach you contracts, marketing, sales, organization, skill sets to complete transactions, compliance, and a whole slough of other
The best advice I could possibly give is - get into the industry first, either doing assistant work or if no paid jobs are out there- shadow a successful, busy realtor for a week and see what's truly behind the scenes.
Real estate is one of those careers that looks quite glamorous to outsiders. Often I have heard home owners say that realtors just come over, sign paperwork, and poof they hand over thousands of dollars.
That is 99% un-true. Quick sales come by once-in-a-while yes, but thousands of dollars are spent in fees, dues & advertisings, thousands of dollars are lost during slow periods, and there is countless hours of paperwork, returning phone calls, and uploading photographs. Not so glamorous after all. But it is still a very enjoyable career for the right person.
What kind of person makes a good realtor?
Well all kinds of people have made it work, but in my opinion - you must have people skills. You should be professionally minded, willing to dress professionally. The bigger your network of friends and acquaintances the better! If you are new to an area, can you truly call yourself an expert? Better to know your streets, know your neighborhoods, and know the history.
If what I have said is starting to feel overwhelming, perhaps consider working for a builder. The pay is comparable to realtors and you only need to know the homes the builder is selling. It's still not an easy career, but your hours will be less chaotic and it will pay the bills!
For those considering a career in real estate specifically in Southern Alberta, I welcome you to contact me with any questions.