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Putting a Face on Real Estate since 1995™
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JUNE 2015 • VOLUME 20 • ISSUE 2
So you have your license, now what? By Riki Markowitz
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very individual gets into the real estate business for a different reason. Some believe it’s a fast track to acquiring houses and fast cars, others simply like working with people. Anyone who has been a REALTOR for any length of time knows two things for sure: Most people do not get rich in this field, though you can do all right; and if you’re not a people person, this is not the career for you. Earning your REALTOR license in Texas is a comprehensive process. Even after the cost of attaining your license, subsequent
dues and fees for professional organizations and networking opportunities with colleagues are never ending. In fact, the entire process – starting even before the day the Texas Real Estate Commission stamps your license – your life will never be the same.
Day One “In the first six months, there are more ways to spend money in this business than there are to make it,” says Bill Morris, a broker associate and director with the Austin Board of REALTORs (ABoR). “And waiting to see your income grow can be a slow process.” According to Leonard Guerrero, a REALTOR and regional vice president with the Texas Association of REALTORs (TAR), “As a new agent you should have at least six to nine months of contingency money set aside.” Why such a large nest egg? As independent contractors, depending on the brokerage new licensees sign with, individuals can be required to purchase signs, lockboxes and other accessories. These add up. Some brokerages will help new hires acquire basic equipment, Guerrero adds. That’s why it’s important to interview with several agencies before settling on one. Evaluate your options first.
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Find a mentor Every real estate professional Realty Line spoke with stressed the importance of finding a mentor with several years of selling and customer relations under his or her belt. “The most important thing is to find a team that’s a good fit – one that is led by a broker who can provide supervision, training, support and leads,” says John Rosshirt, also a REALTOR and TAR regional vice president. “What matters most is the personality of the organization and the people you’re working with.” If you’re weighing the pros and cons of signing with a large real estate outfit vs. boutique firm, you may be overlooking the importance of learning the business under the
supervision of a mentor and teammates that nurture your goals and unique strengths.
Finding the right team First, diversify your industry connections. If there is one disadvantage to getting advice from veteran real estate professionals is that those with 10 or 15 years experience came up in a very different culture. The growth and inundation of new technologies, along with Austin’s astronomical expansion, has completely changed the way new REALTORS join agencies, self-promote and attract clients. Years ago, Guerrero’s agency would run classified ads in the newspaper. Today their recruiting efforts rely heavily on the company's internet presence and website. Early networking person-to-person and via technology is the way to go in 2015. Leaders from TAR and ABoR urge students to start searching for an agency to work with even pre-certification. Rosshirt, a professional in the business for over 25 years, recommends “getting a mentor as soon as you can. Before you earn your license.“ Today there are Facebook groups whose participants provide advice for breaking into and succeeding in the business. In these member-only clubs, individuals can start making career-long alliances early and share tips and insights on companies that provide the best – or not so great – opportunities for first and second year REALTORS.
Never stop marketing yourself In this business, you can’t expect friends and clients to provide referrals for you if you’re not marketing yourself. That includes old-school mailings, but also developing a presence on websites like Zillow, Trulia and Realtor.com. “I think from a marketing point of view, you’ve got to have a presence on those three,” says Morris, also a 12-year veteran of the industry. “There are probably 100 other
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Upcoming Events Wednesday, June 17 CRS Bi-Monthly Meeting 11:30 a.m. to 1 p.m. Westwood Country Club AYREP June Networking Happy Hour - 6 to 8 p.m. The Park at the Domain Wednesday, June 24 ABoR & Austin Title: "Ask the Experts of CFPB" Panel Discussion with Q&A - 9 to 10:30 a.m. ABoR Offices Thursday, June 25 ABoR SMART Affiliate Event 9 to 11 a.m. - ABoR Offices Tuesday, June 30 ABoR TREPAC Movie Night 6 to 9 p.m. - Bob Bullock I/MAX Theatre Wednesday, July 1 AMBA Monthly Meeting 11:30 a.m. to 1 p.m. Austin Country Club Wednesday, July 8 HBA Mid-Year Housing Forecast 11:30 a.m. to 1 p.m. - HBA Office Thursday, July 16 HBA Sales & Marketing Council Million Dollar Club Awards & Networking Happy Hour 6 to 8:30 p.m. - Chez Zee Friday, July 24 TAR Mega Region Meeting 9 a.m. to 4 p.m. - ABoR Offices More at www.myRealtyLine.com