The real estate industry is going strong and for those looking to start a new career, it may seem like the perfect time to become a real estate agent. However, what many don’t realize is that real estate is not as easy as it seems. With many competitors in the market and limited home supply in the Valley, it can be difficult to make a name for yourself. Here’s what you need to know before deciding to become a real estate agent.
Education is so important
To become a real estate agent in Arizona, you must complete 90 hours of pre-licensing education from an Arizona Department of Real Estate approved Arizona real estate school. Following the education, you then must pass a License Examination to receive your license. While that may seem simple enough, your education shouldn’t end there. As a new agent, it’s important to take the time and effort to continue learning beyond the required education. One way to further your learning is to join a brokerage that offers extensive training and resources for their agents. Take the time to do your research on what each brokerage offers for agents before making your decision.
You’re your own boss, but you must be a hard worker
One of the perks of becoming an agent is that you’re essentially your own boss. Unlike a traditional 9-to-5 job, you’ll set your own schedule that works for you and your clients. However, this doesn’t mean that you’ll be working less, if you want to be successful in this industry, you’ll often be working more. A great agent goes above and beyond for their clients and will work to accommodate them and their needs. This can mean working late, showings on the weekends and more. As an agent, you dictate your own success by how hard you work, so you need to be prepared to hustle.
You’ll need funds to get started
Buying and selling homes takes time, so it’s likely you won’t receive your first commission check until a few months after you’ve started. Until then, you’ll need to make sure you have enough funds to cover your education, living expenses, and business costs. Once you begin to receive commission, it’s critical that you budget appropriately. Depending on the market and how hard you work, your commission checks will come at unpredictable times. It’s important that you create savings to support yourself when you’re just getting started.
The market is hot, but there are many competitors
The housing market is the hottest it’s ever been so it may seem like a great time to become an agent, but you must remember that there are many competitors. From traditional agents to iBuyers, buyers and sellers have more options than ever when deciding how to move forward. This means you need to find what differentiates you from the others and begin to brand and market yourself accordingly. Do you specialize in certain properties or customers? Do you have certifications? Identify your unique value proposition and make it known through your marketing like your website, social media and more.
A career as a real estate agent can be extremely rewarding. If you’re ready to dedicate yourself to client service and hard work, this can be a successful and fulfilling path for you.
Bobby Lieb, Associate Broker with HomeSmart, founded the Elite Group, which is the top producing division of HomeSmart. Bobby has been ranked HomeSmart’s #1 Realtor since 2011 and the top selling Realtor in North Central Phoenix since 2001. For more information, visit bobbylieb.com.