After putting in the hard work and earning your real estate license, you may be wondering what to expect as you set out on your real estate journey. There are several key things that you should know about your first year as a real estate agent that can help you to hit the ground running. Understanding these can help you to set clear expectations and accessible goals. Here is what you can expect your first year as a real estate agent.
Networking will be one of your greatest tools in your first year as a real estate agent and beyond. Your first year should be spent developing contacts and positive relationships, not only with other realtors but also with those who have proven themselves competent in specialties you may need, such as lawn care and staging. Instead of viewing other agents as competition, look to them as established resources in the community.
One of the easiest ways to network is to attend a real estate conference or other networking events. Also, try to link yourself with a mentor who is trustworthy and knowledgeable about the field. They can help to not only teach you the ropes, but they can also help you to get familiar with others who can help you along the way.
While real estate can definitely reap some lucrative financial rewards, in the first year real estate agents are unlikely to begin with six-figure salaries. The salaries of most new agents generally start at around 40k a year. You will want to make sure you manage your money correctly and adjust your spending and saving methods as your career progresses. This is even more important if you are starting out as a new real estate agent and have your own business. If that is the case, make sure to start a business account and business line of credit in order to keep personal finances separate from business expenses.
The world has become increasingly technological, and real estate is no exception. Many looking to purchase real estate begin online first, and that’s why your first order of business should be to create an appealing website where potential customers can visit and view your offerings. You’ll also want to be social media literate and to use the more popular social media platforms to make your presence known. Lastly, make sure you’re up to date on the common word-processing and data-tracking software, which will help to keep you organized and save you time in the long run.
The first year as a real estate agent will bring plenty of challenges to overcome as you learn the ropes and find your footing. Knowing what to expect will help you to set realistic goals and create a plan for addressing issues that arise. Above all else, keep your perseverance because you have a lot to look forward to!
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