How Do You Become A Real Estate Agent?

By Larry Cragun

I was approached by Teresa to write this right after I wrote the article How Do You Become A Loan Officer on MortgagesUndressed.com

There are many paths to take that might be better for one than another. So I guess I will just fire away and see what we turn out here. Remember, I have been in the business for a while, and have children and grandchildren in the business.

The easy parts: Take classes, past a test, get a license.

The harder parts.

Know your stuff, or be prepared. I got off to a quick start as an agent because I was prepared. I decided two years before I quit my job that I was going into real estate. I read every book I could find. I subscribed to Prentice Hall real estate and tax library, I knew everything in it before I got my license. You cannot read too many books on our business.

Have some staying power. You make bad decisions if you are hurting financially. You push for closing dates that benefit you, not the client. You tend to high pressure for decisions. You look bad when you are hurting. A top agent I respected needed to have a morning paper route to cover his family overhead, even with his wife working. He did it until he made over 100k two years in a row. That was a guy I worked with 17 years ago.

Love Houses. What do you do for fun? Go to open houses? Yes – you are probably right for real estate. No? Maybe not.

Be connected. Do you have a natural market that trusts you? (Church, Age Group associations, School ties, Something?)

Are you a lead generator? No? Are you willing to be? No? Find a mentor then, one that is busy and will use you as an assistant. The mentor better be a lead generator.

Our daughter I recommended go to work for our local market leader, Windermere. It was a good choice. Most others I would encourage a company that teaches how to market yourself, like Keller Williams.

Thoughts:

1- There are too many real estate agents now.

2- There are even more too many part time agents now.

3- Most brokers are looking to pick up the bottom line that is falling, you might be their source. Be careful who you hang your license with.

4- YOU MUST BE WEB SAVVY. Don’t rationalize on this.

5- YOU MUST BE TECHNOLOGY FRIENDLY: Don’t rationalize on this either.

6- If you can’t tell the truth under pressure get another profession.

7- If you don’t like to handle emergencies, don’t be a surgeon or a Realtor.

8- If you can’t multi task, don’t be a parent or a Realtor.

9- If you are not’t willing to be a blogger, set up shop in Issaquah where I live.

10- If you are in it for the big bucks, re-think about the surgeon advice I gave.

It is a fun business if you are fun, a great business if you like to serve others, a hard business if you are young, a lasting business if you can last long enough.

PS: Since this is a Minnesota Blog, stay out of Minnesota.

Larry can be found in Issaquah Washington, where he sells real estate, and also writes:  Real Estate undressed and Issaquah Undressed, and Mortgages Undressed, his daily posts are  insightful and humorous.  I don’t understand his obsession with hobo spiders but have learned that it is best to appreciate people for who they are and the rest will take care of it self.

For Minnesota licensing regulations for real estate agents go to the Minnesota Department of commerce web site.  For State approved real estate licensing course visit Kapplan Proffesional Schools.