Biggest Misunderstandings about Being Successful in Real Estate
Being a Realtor is rewarding but also very challenging. Lots of people get their real estate license thinking it will be quick and easy money - which might be why more than 75% of real estate agents fail miserably in the very first year. It takes marketing acumen, ambition, and the right tools to be successful in this industry. Still, certain misconceptions persist.Myth: It is an easy job with lots of moneyFrom the perspective of a homebuyer or seller, agents tag along with the buyer during their home search and walk away with a fat commission at the end of it. What they don’t see is the work that goes on “behind the scenes” -maintaining a database of available properties, tailoring their marketing to each client, and supervising tricky negotiations between buyers and sellers. Realtors experience a lot of stress because of an unstable market and uncertain income.You only see the top 10% agents who move around in luxury cars and live a royal life. Very few of the rest of the agents would agree to the notion that their job is an easy one.Myth: One can be a successful realtor by just passing the qualifying examWith low barriers to entry, real estate sometimes attracts people who think that being a realtor will be easy money - all they need is a license from their state and they can start their business. It is true that obtaining a license from the state is a prerequisite for working as a real estate, it’s only a starting point - not the end of you real estate education.Finding a mentor, seeking out coaching programs, and investing in marketing are all necessary steps to continuing to become a better real estate pro and growing your business. Myth: The Internet makes it harder for real estate agentsAs with many industries, technology and the internet have disrupted the traditional business models for real estate. But while some real estate agents feel threatened by sites like Zillow, real estate tech tools and data can be valuable for real estate agents. Imagine knowing that a property is likely to be listed before it’s put on the market, and being able to make contact with a homeowner early in their decision to sell. Real estate companies have been utilizing information from public records, social media, and other sources to help agents better serve their clients.