A little different type of blog from me this time. I wanted to write something for those that have already finished our real estate license courses and are working in the field.
I was browsing some Read more...
A little different type of blog from me this time. I wanted to write something for those that have already finished our real estate license courses and are working in the field.
I was browsing some listings on the MLS recently and was horrified at some of the pictures agents were uploading but even worse was of the copy used to describe the listings. Problems with syntax, punctuation and tense were not uncommon.
If you have a listing now or are going to take one soon, I would recommend making sure your ad copy is extra tight. Remember that besides pictures, the ad copy is the most important part of your listing marketing material.
There are really no hard and fast rules for writing real estate ad copy, but guidelines exist to help you capture reader attention and generate responses. The goal is to highlight enough desirable features to prompt an online visitor to click through to the full listing, or to prompt a reader to call for additional information.
The prime directive is to avoid the temptation to "oversell." Use superlatives in moderation and be sparing when including value judgments in your descriptions. Remember that only one home can be the "best value" in a neighborhood, and even that is subjective to the point that it has little meaning to a prospective buyer.
Readers tend to gloss over phrases like value-priced, priced to sell and won't last long. Common terms like amenity-filled, chef's kitchen, memorable views, and stunning architecture are overused and ineffective. The goal is to be descriptive in a manner that is meaningful, while still leaving something to the imagination so that the reader wants to know more.
Writing Real Estate Copy 101
Writing ad copy that gets results isn't difficult, but it can require thought. Here are specific elements you can employ to make your efforts more effective.
First, define your target audience: Online property descriptions will have a different focus, and a different tone, than a printed brochure or an open house handout. But all copy should include, at minimum, a headline or title. It might be as simple as the property address; however, if you can use a catchy descriptive phrase, do so. Something like "Come Home to a View of the Ninth Hole" would appeal to someone looking for golf course property.
Then, add gas to the fire of imagination: Place yourself in the potential buyer's shoes and provide a "hook" that makes them want to continue reading. Focus on the lifestyle that can be theirs if they move into the home. "Enjoy a refreshing cool drink on your expansive poolside patio as you look forward to your next tee time at the award-winning course adjacent to your property." A brief description of the overall appeal of the community and the home's general description can be included here.
It can be as brief as you wish, or it might run to several paragraphs, depending on actual space and your purpose. Say something like: "This 3-bedroom, 4-bath, 3-car garage contemporary offers everything necessary for living the good life -- privacy, convenience to schools, shopping and entertainment, an easy commute to the business center, and abundant leisure time enjoyment options with neighbors and friends."
Finally, highlight the most important home features: This is where you should strive to paint meaningful word pictures. Be descriptive, but not overly detailed. Leave some specifics out. You might say something like "Old-world craftsmanship is evident in the finishes used throughout the home's 4,200 square feet, especially in the fine wood paneling and bookshelves of the home's private office."
Or, you can point to the evidence of upscale options and trendy finishes that "include an eco-friendly, sustainable choice of recycled glass countertops in the kitchen, low-VOC paint throughout, and main-level flooring crafted from reclaimed timbers."
Whatever you write in words is always better when accompanied by professional photographs that graphically illustrate the same features. It's not necessary to include a book's worth of photos, but words and pictures are better when they go hand in hand. There is little more disheartening for a prospective buyer than to read a glowing description of a home spa retreat only to find that there is no photograph of the space included with the listing or in the brochure. Coordinate your efforts with your photographer and your marketing team.
Keywords and Buzzwords
Define your potential market. Imagine what prospective buyers would type in to an online property search: Don't simply toss around phrases like "high-end finishes, family-friendly neighborhood, or spectacular views." Instead, utilize popular keywords to generate interest, adding filters and qualifiers as needed, such as the city or subdivision. Examples include:
• Beachside Cottage
• Ski Retreat
• Urban Condo
• City Lights
• Mountain Views
• Polished Wood Flooring
• Gated Community
Know Your Market
The copy you write about a high-end home will naturally be different from the copy that describes a mid-price starter home, but the same principles apply. However, don't make the mistake -- in either case -- of believing that buyers on one end of the price spectrum are any less concerned about quality and value, energy savings and sustainability, style and safety, or built-in features and community amenities.
Make every effort to describe a lifestyle rather than listing specific features. Weave specifics into general descriptions of rooms and spaces. While studies have confirmed that online readers appreciate skimmable copy and bullet points, lists can be overused. Typically, 8 to 10 bullet points are sufficient. Always stop short of making your property description simply a "laundry list" of features.
To write meaningful copy, acknowledge that there are some home features that should be specifically mentioned:
• A backyard pool, because it can be either a selling point or a deal killer, depending on the buyer;
• An eat-in kitchen;
• Ensuite baths for each bedroom;
• A detached garage, casita or other type of auxiliary building;
• Specialty spaces, including an exercise room, home theater or media room, finished attic, in-law or au pair quarters; and oversize lots or adjacent acreage or public land.
• Solar panels, or alternative energy provisions, including 240V electric car charging stations.
Use your in-depth knowledge of the local market to determine what other features deserve mention, knowing that your decision might vary substantially from one neighborhood to the next, and even from one season to another.
Monitor reactions and responses you receive, and adjust the way you write your next property description based on the feedback offered by clients.
Finally, never forget to include your contact and broker information (along with Department of Real Estate license number) and a call to action. You never know who will become your next client, or when and how they will appear. Ensure that you can be reached by anyone in need of your services!
Of course if there’s anything I can do for you, including helping you get started in our real estate license courses, please let me know or call 888 768 5285.
Love,
Kartik
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For those starting in our great real estate business it’s natural to ponder the best way to go about becoming successful. A well-known shortcut between starting a new career and achieving success is Read more...
For those starting in our great real estate business it’s natural to ponder the best way to go about becoming successful. A well-known shortcut between starting a new career and achieving success is to model what others before you have done.
Observing the most successful people and implementing the best of their strategies is going to ensure your success more quickly than trying to reinvent the wheel altogether. This is especially true in a simple business like real estate sales. It’s important to recognize that I said “simple” not “easy”. Our real estate sales business is a simple one as long as you do the things daily that are required to succeed. Again, this is a simple process but one that is not always easy.
I wrote down a few characteristics of the most successful real estate agents. As you embark on the journey of obtaining your real estate license I would encourage you to be cognizant of how you are implementing the following:
THE BEST AGENTS UNDERSTAND THEIR LOCAL MARKET
There is an old saying in real estate that “All real estate is local”. To the newer agent this might not make sense but let me explain. Essentially this means that the real estate salesperson that has the most intimate market knowledge and is most deeply connected to the neighborhoods they serve will generally win.
Great real estate salespeople tend to be known in the community. They may sponsor the local little league, help out with local garage sales or door knock frequently. They send direct mail postcards every month or post frequently in local Facebook groups or on nextdoor.com. Whether this connection is established through physical marketing or digital makes little difference.
Net-net: The best real estate agents are known in their local marketplace.
THEY UNDERSTAND THEIR CLIENTS' NEEDS
This one might sound a little too broad to be helpful. You might read the above sentence of “understanding your clients’ needs” and think - “Great but what does this actually mean?”
When representing a buyer, for example the best agents have their client requirements nailed down. If the client requests a property with a bedroom and full bathroom downstairs, don’t bother to show them homes that do not. If they are deeply against having a pool, make sure you check this on the MLS and verify with the listing agent before emailing it to them.
Getting to know your client and being able to anticipate their needs will go a long way to helping you become a successful real estate agent.
THEY HAVE A SYSTEM PERFECTED
Do you have a particular time of the day when you're checking emails? Spending time with clients? Marketing your business? Having a schedule for your routine and daily activities will help keep you organized and be sure that nothing falls through the cracks.
THEY KEEP THEIR SALES PIPELINE FULL
It's one of the things you hear with any real estate sales business. Always be selling. If marketing and prospecting for new clients is a part of your every day routine, you'll never have to worry about a seasonal slow down or slump, because you know that the marketing system you have in place will have the next client through the door soon.
Also, if your Facebook ads aren’t doing as well as they normally do A/B test the ads to ensure that you are staying on top of social media trends.
Don’t ignore door knocking and telephone prospecting either. These activities might not be the most relished by the real estate professional but they are sure to give you more control over your pipeline. Hit a slump? Talk to more people.
DEVELOP RELATIONSHIPS AND MAKE CONNECTIONS WITHIN THE LOCAL COMMUNITY
Successful real estate agents take the time to build a large network of people in the market that they serve. They don’t limit themselves to creating a database of only past, current, and potential clients. Great real estate agents should also make contacts with other experts within their industry, including appraisers and mortgage loan originators. You’ll have a ready list of vendors to refer your clients to and potentially be on the receiving end of referrals when the time comes.
You should also consider building a network of other brokers and agents in outside areas. Remember, it is customary for one broker to pay another broker a referral fee for a client upon closing. (Not among service providers though, that would be. RESPA violation)
THEY USE SOCIAL MEDIA PLATFORMS AND THE INTERNET TO THEIR ADVANTAGE
The impact that social media platforms like Facebook, Twitter, Instagram, and YouTube have on business are undeniable. Formerly, these platforms were looked at as only a way to connect with friends and family or share photos but they have made their way into the fabric of our society.
According to Statista, 91% of U.S. businesses will use social media for marketing purposes. Some of the largest companies in the world are using social media as a way to connect with their customers and potential customers. Why would the individual real estate agent be any different?
As a real estate agent, if you aren't using social media, you are missing out on a huge opportunity.
At a minimum, each agent should have a Facebook page to reach their potential audience. If you have the budget, a highly-targeted Facebook ad can provide additional reach to new potential clients you may not be able to find through your more traditional marketing mechanisms.
THEY ARE PARTICULAR ABOUT THE DETAILS
When it comes to selling real estate, the smallest details can make the biggest difference. Things like staging a home or how to position a property in certain markets can be the difference between a good and a great real estate agent.
Also the intricate details of the purchase contract or the listing agreement are critical to ensure that your client’s interests are protected.
THEY ARE AWARE OF SPEED TO LEAD
A saying that I live by in business is that “Time kills all deals”. The best agents know that the sooner they can get back to a lead the more likely they are to convert that lead to a contract.
This is especially true regarding Internet leads. Whether you are selling residential or commercial real estate, the best agents know that the sooner they respond to an inquiry the more likely deals are to close. I can’t emphasize this enough - in this day and age speed is probably the most important aspect of sales. The faster you move the more likely you are to win.
I’m always looking to bring you value. If I can be of service to you please let me know on Instagram or Facebook. Of course if you are looking to get enrolled in real estate license school, reach out here.
Feel free to also call the office at 888 768 5285.
Many of our students have gone on to be very successful real estate agents! Click on the link to read success stories from past ADHI School Students!
Love,
Kartik
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Most people think that in order to become a great Realtor we need to be good at showing and selling property," we tell ourselves. "What more is there?”
In reality, it turns out there's quite a bit Read more...
Most people think that in order to become a great Realtor we need to be good at showing and selling property," we tell ourselves. "What more is there?”
In reality, it turns out there's quite a bit beyond that.
If you’re interested in obtaining your real estate license and become a full-fledged Realtor, it’s probably useful to learn a little bit more about what someone in that role actually does daily.
Once you finish our real estate license school and head out into the real world, you'll find that the daily responsibilities of a real estate agent are actually a lot more involved than you might think. Not in a bad way — but in a way that you should be familiar with before you begin those early days of your career.
The Life of a Real Estate Agent: Breaking Things Down
One of the most important daily responsibilities of any real estate agent actually has little to do with "selling houses" at all. Broadly, you need to be excellent at providing customer service to a wide range of people in a myriad of different situations.
Be The Calm in the Storm
Think about it like this: Buying a home is one of the most important moments in a person's life, particularly if it's the first time they're doing it. So it's an inherently stressful experience and one where people will be looking for an expert to guide them. The best real estate agents understand that they are the calming force in any transaction. You need to be able to provide people with the information they need to make the best decisions possible and you need to do so in a way that simultaneously instills confidence.
It's a lesson you'll begin to learn in our real estate license school but that you'll have to perfect over time on the job.
Understanding Contracts and Paperwork
Another major daily activity of a busy Realtor involves drafting and preparing things like offers and other types of paperwork. This requires a deep understanding of not only the laws and regulations in your particular market, but also the needs and requirements of the people you're actually working with. Remember that as an agent, you are someone else's advocate — they're trusting you to bring a level of experience to the deal that they themselves do not possess. To get to that point, you need to not only be aware of HOW to handle the paperwork that comes with buying and selling real estate, but organized enough to do so in the right way.
That customer service element also intersects with the marketing side of the business — only instead of selling a property, you're really selling your most valuable asset of all: yourself and your abilities.
Similarly, the busy real estate agents spend a majority of their day getting, obtaining and servicing listings in their marketplace. Most of the time, this is done by pouring over the Multiple Listing Service database, otherwise known as the MLS. Most MLS databases are logical but sometimes they are not so intuitive. Only through practice running a variety of different searches can proficiency be obtained.
For example, how do you search for a single-story home, with a spa but no pool in a specific school district below $750 per square foot? This search will take the expert Realtor 1-2 minutes, whereas for a rookie this same search might take 10-15 minutes. Like most things - practice makes perfect.
If someone says to you, "I like this house we're looking at, but it would be better if it had X, Y and Z qualities," you should immediately be thinking of other properties you can show them. You can't do that without putting in the time to research what those listings actually are. Working with the MLS is a crucial part of the daily life of a real estate agent.
Don’t forget to prospect
Most importantly, a real estate agent spends an incredible amount of time collecting leads from other sources, too — either via word of mouth from past satisfied customers or from referrals in the industry. Hitting the phones or door knocking can also be a great way to get a hot tip on a property before it actually gets on the market- especially if it's one that you know would be perfect for one particular client.
That aspect alone can quickly become an omnipresent part of the job — something that you should have at the very least in the back of your mind all day, every day. It's part and parcel for what a real estate agent actually does and, in truth, that rush of getting the jump on your competitors is a large part of why people love the profession in the first place.
Get Comfortable Being Out and About
Of course, a lot of your days will also be spent showing properties which is the aspect of the job that anyone who has ever purchased a home is most familiar with. But again, it's just one small part of a much larger story. Getting your start in real estate comes with the understanding that it's more of a far-reaching profession than most expect.
The great real estate agent is part therapist, part negotiator and available to answer any questions that their clients may have.
Hoping this helps. I’m always looking to bring value to our readers. If I can help you, please reach out on Instagram @kartikspics or call the office at 888 768 5285.
Love,
Kartik
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Frankly, Instagram has brought us a ton of new students. So many of our students enroll because they have seen social media posts from agents about how much money they make. Programs like Million Dollar Read more...
Frankly, Instagram has brought us a ton of new students. So many of our students enroll because they have seen social media posts from agents about how much money they make. Programs like Million Dollar Listing have contributed to this perception.
While some of these stories are true and many agents do make a lot of money in our business, I wanted to write a quick article about things you should know before starting a career in real estate. I wrote a few pieces of advice - I thought the title was catchy - before anyone takes the first step in entering our business.
You Are the Boss
It may seem obvious, but people who have spent the majority of their lives working for a manager or supervisor are often surprised by how much discretion they have over their daily schedule. There aren’t any wake up calls in our business. No one complains if you show up 5 minutes late - or don’t show up at all. Worse yet, if you work for a “virtual brokerage” there might not be a person available to bounce ideas off of or to get advice from when you find yourself in a rut. When a decision needs to be made, you are often the person who has to be decisive and take action.
You Need a Business Plan
Being a self-employed person means that you need to come up with a business plan that provides a roadmap for your real estate business. How much money are you setting aside for marketing and advertising? How many transactions do you plan to close in a month, or in a year? Does your business plan call for you to work from a real estate office or work from home? How much time are you setting aside for your business if this is part-time work?
In addition, you also need to understand your tax obligations. You will have to pay quarterly taxes and budget for this. You'll need to track your business income and deductions to ensure you pay enough every year. Most agents have a CPA or other tax advisor that they lean on regularly for this.
It’s Useful To Have a Cash Reserve
What social media posts and television rarely show are the slow periods. There will be a time when you don’t close anything and your pipeline isn’t progressing as quickly as you would like. This period can especially hold true for the brand new licensee that will have a minimum 90-day window to get a handle around the business. Always have at least a small cash reserve built up before starting, and keep adding to it little by little. By having a nest egg, you'll be able to weather slow periods and continue to build until you are at the point where you have a steady pipeline of closings.
Your Schedule is Flexible... Sort Of
It's true that you can work whenever you want. So if you are a night person who loves working at 2am because it is quiet and calm, you can do all your paperwork and get your online marketing accomplished during those hours. On the other hand, remember that you will have clients that can and will contact you at unpredictable times. A certain property may show up that a client wants to see right away and that showing may not have been “in your schedule” but you may feel the need to drop everything and pivot.
If you become a residential real estate professional you will likely have clients that work 9-to-5 jobs. The only times they have to look at a house or arrange for a showing are evenings and on the weekends. Are you accounting for this in your plan?
Somehow Differentiate Yourself from the Rest of the Pack
You have a real estate license. That is an accomplishment not to be undermined. Remember, however, that you were in a full classroom of other people who also obtained their licenses. They’ll likely be working in the same neighborhoods as you. Additionally, you will also be competing against established, veteran Realtors which will be an even more competitive field.
Establishing your personal brand and differentiating yourself is absolutely mission critical. Figure out what makes you unique, whether it is your marketing skills, market knowledge, or negotiating techniques. Then let people know about your skills so that they each out to you first.
Start Your Real Estate Career Today
Are you ready to make the move into real estate and gain the education you need to succeed? Visit our website to learn about how you can gain your license and start this exciting career.
Side note - My intention with this article is not to discourage anyone from starting in our business. It’s simply to pepper a little bit of realism in the basket of fake Instagram and YouTube videos. I have many students that make into the 6 and 7 figures annually. It is possible, but everyone is looking for the secret sauce that’s going to make them successful.
The truth is that there is no secret - it’s just hard work.
Love,
Kartik
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As of early this year, there were more than 2,000,000 real estate licensees throughout the United States. Of that number, around 1.3 million were members of an Association of Realtors. Additionally, a Read more...
As of early this year, there were more than 2,000,000 real estate licensees throughout the United States. Of that number, around 1.3 million were members of an Association of Realtors. Additionally, a good portion of this group has had their license for one year or less - further evidence that our industry is a competitive one.
But real estate sales isn't just a highly competitive business - it can carry it’s share of stress, too. It can certainly feel like something of a grind, especially in those early days, which is why jumping into this particular pond head-first might not be the best idea.
Likewise, many people who wish to enter our business don't actually have the financial ability to start on a full-time basis. But that's okay, because becoming actively involved in real estate part-time brings with it a wide range of benefits that can't be ignored. Not only can this help you confirm this is something you actually want to do, but it can assist you in creating a transition plan to get you to full-time and to replace your 9-to-5 income in a thoughtful, intentional way.
Starting a Career in Real Estate: Breaking Things Down
The first thing you need to do to start a part-time career in real estate involves coming up with your own unique solutions to some of the common challenges people face.
Scheduling, for example, is often a difficult hurdle to overcome. It's not necessarily easy to be fully available for your clients at a time that works for them when you have another job to worry about. Unfortunately, there's no "one size fits all" solution to this issue as every situation is unique. Just know that it can be done, but you'll need to hone your organization skills and communicate your hours to prospects clearly and concisely to keep everything flowing as smoothly as possible.
Likewise, it's imperative that you get your own expectations in order. Becoming successful in real estate is already time-consuming - not to mention how long things can take when you're also trying to continue your current employment. If you think that you'll somehow be able to A) work a full-time job, B) do real estate part-time, and C) keep your nights and weekends free, the chances are you're going to have to sacrifice one of those three things. You can only have two, so pick the ones that are most important to you before moving forward. This is on top of family or other personal obligations you might be faced with.
In terms of the actual logistics of becoming a real estate agent, you'll first need to take care of getting your real estate license. This involves figuring out and completing your pre-license requirements, which we can help you with. If you schedule is tight we offer online correspondence real estate courses too. Once you sit for and pass your real estate license exam, you can then take another critical step in joining your local board.
This Association of Realtors organization will allow you access to the Multiple Listing Service, also referred to as an MLS for short, that acts as a centralized repository that all Realtors in your area can use to list properties, view market statistics and more.
You’ll need your license in order to join the association of Realtors which is why our pre-license courses are so important.
Finally, you'll need to find a broker to work with. Here, you have two options: large, national brands like Coldwell Banker and Century 21 or smaller, independent and locally operated brokers. The former will come with benefits like major name recognition, but the latter will offer an intimate connection to the local community that could be quite helpful. Again - every market is unique so there is no "right answer" here. Think about which option fits best with your long-term goals and which offers the most favorable terms as far as the percentage of the commission you enjoy, desk fees and most importantly training. As a part-time real estate agent, you’ll want a company that offers training around your schedule as it will probably be less flexible than someone starting on a full-time basis.
Yes, starting a real estate career part-time is going to be time-consuming and no, it isn't going to be easy. But it is absolutely possible if you enter from the right perspective and are consistent with your efforts.
As the old saying goes - "anything worth doing is worth doing right."
As always, I'm looking to bring you as much value as possible. If I can be of service, send me a message or call the office at 888 768 5285.
Love,
Kartik
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Those considering a career in the real estate field are frequently drawn to the amount of money they can make on each property they sell. Each commission check can be upwards of $10,000, $20,000 or even Read more...
Those considering a career in the real estate field are frequently drawn to the amount of money they can make on each property they sell. Each commission check can be upwards of $10,000, $20,000 or even more. This is great for today because it means when you do work hard you will be rewarded handsomely. But what about tomorrow? What about when you get a little older or lose a little bit of that drive?
When you become a Realtor, it’s important to remember that you are in business for yourself and should have a solid financial plan in place that provides for your post-retirement needs. It's exciting to finish real estate school and obtain your real estate license. The early phase of your career is a time to build relationships, learn the trade, and earn money while you establish yourself as a professional. But it's always wise to remember that time waits for no man woman or Realtor. At that point, all your financial planning and regular saving will pay off in the form of a stable, secure retirement income.
What about retirement?
To be clear, there are a lot of great real estate salespeople and brokers that have absolutely no intention of ever retiring. But there’s a difference between wanting to work and having to work.
I think we can all agree that not having to actually show up at some place at some time and have money coming in and available to you would be a great thing.
With that said, many Realtors often wonder how secure their retirement will be. After all, if you become a Realtor and work for yourself then you'll need a financial plan in place to take care of your retirement years. Earning a real estate license is simply an early milestone in your career.
But what about life after real estate school and your sales career? You'll need to create the right kind of retirement plan for yourself. You can do this alone with some help from a CPA and Google or hire a financial planner to lay out the plan for you and keep you disciplined.
Here are some things to bear in mind when thinking about long-term financial security:
Consider investing in real estate.
Early in my career I heard brokers tell me “Kartik you have to become your best client.” Since then a stated goal of mine has been to buy one piece of real estate each and every year. Imagine over a 20 year career in our business owning 20 properties, each with a positive cash flow of just $200 per month. That amounts to $200 per month x 20 properties = $4,000 per month. Over time the values on these properties are quite likely to rise and the loans will eventually be paid off - adding to your wealth in retirement.
Of course in order to buy one property per year, you have to ensure that your income is sufficient to obtain financing - a solid real estate sales career will make this easier. Properly managed, a "nest egg" of real estate can be a smart way to diversify your retirement income resources.
There are other ways to set money aside in retirement funds:
You can opt to put money into a traditional IRA, a Roth IRA, a solo 401(k) or a SEP IRA. All have their pros and cons that should be discussed with an appropriate professional. For example, traditional IRAs have no income limit but there is an annual contribution limit. If you pull finds out before retirement, there is a stiff penalty in most cases. Traditional IRAs are funded with your pre-tax earnings, so you'll get a nice deduction and lower your tax bill in most cases.
Roth IRAs are funded with your after-tax earnings, so you get no deduction right now. The upside to a Roth is that you can take out the contributed funds any time for any reason without paying a penalty. It's also possible to set up a solo 401(k) for yourself, even if you have no employees and work as a sole proprietor. Contributions come from your pre-tax earnings but there's currently a pretty high annual limit on what you can put in.
SEP IRAs are a little more complex but are a good option for real estate professionals who have a few employees. You can contribute up to 25 percent of your earnings but keep in mind that you have to do the same for each employee you have. If you withhold 10 percent, for example, from your earnings for the SEP IRA, you'll need to withhold 10 percent of each employees' earnings as well.
A one-hour consultation with a reputable financial planner can resolve most questions you have about which is the best kind of retirement savings plan for your particular situation.
It’s also important to remember that I’m not a financial planner and laws and rules can and do change. Make sure you’re planning properly and not relying on my blog alone to plan for your retirement. =)
Please call my office at 888 768 5285 or send me a message if I can be of service.
For information on real estate classes visit www.adhischools.com
Always looking to bring you value.
Love,
Kartik
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Obtaining a real estate license after passing the real estate exam is only the beginning of your career in our great real estate business. The next step (and in many ways the more important piece of the Read more...
Obtaining a real estate license after passing the real estate exam is only the beginning of your career in our great real estate business. The next step (and in many ways the more important piece of the puzzle) is to prospect for clients.
The high level question the must be asked and answered by the new agent is: What does a buyer or seller want in their Realtor? And next - How do I meet those needs?
Simply put - buyers and sellers are looking for a local real estate expert. Buyers want someone who knows what local restaurants are great, where the nightlife is, what schools are perfect for their kids, and what amenities are popular in the neighborhood.
Sellers, on the other hand, want a local Realtor who knows what the current and future market outlook is, what the comparable sales look like for the house when compared to other similar properties on the market, and at what price to market the home.
So how do you become a local real estate expert for your clients? Here are several strategies to implement once you finish your real estate courses and become a Realtor.
Go to Local Government Meetings and Chamber of Commerce Events
Government meetings and chamber of commerce events will play important factors on how you grow your business and connect to community members. You'll want to pay attention to any changes, regulations or votes coming up with the city council or planning commission that will impact the local real estate market. These meetings could discuss zoning regulations or upcoming development projects, for example. Information gathered at this event can allow you to better track the market and inform clients of developments that can affect the home buying or selling process.
I remember one friend of mine who was showing a high-rise condo to a buyer on Wilshire Boulevard in Los Angeles. The buyer found a home online that he wanted to see and reached out to the agent for a showing. Directly across the street was an empty parking lot that was in the early stages of being the site for a new high rise development. If approved, the new structure would have completely obscured the southern view from the living room and bedroom and would have also casted a dull shadow over the pool deck. The fact that the agent was plugged into the local planning commission and had actually attended some of the Homeowner Association meetings meant that he was in the know and ultimately able to advise the buyer on the proposed development. Surely a large building blocking your view that breaks ground shortly after the close of escrow would be a nightmare scenario for the uninformed buyer.
At chamber of commerce events, you can network with other businesses. You can learn about the roles these employers have in the community, and can share this information with buyers. It’ll also be a great chance to meet other entrepreneurs and refer business to one another.
Get Involved in Social Events and the Community
Prospective clients like to see that real estate agents are getting positively involved in local events. Whether it is partnering up with a local blood drive or volunteering time at an animal shelter, these tactics show that you want to invest your time and work in building a strong and welcoming community.
Also, attend social events such as festivals and get to know people. Shake hands with organizers and speak with the local residents. People will remember your friendly demeanor at the event as they will be inclined to speak positively about your real estate business with others.
There’s nothing wrong with telling people that you are in the process of obtaining your real estate license now and start building those relationships early. Of course, you won’t be able to do anything that would require a real estate license, but there aren’t any laws against getting to know people in the area.
Show You Are an Expert in Emails, Social Media and Personal Interactions
After taking real estate classes Los Angeles, you've gained the knowledge to help people with their real estate dreams. Yet you also have to show them that you are a local expert. You can do this through your correspondence, social media accounts and interactions with clients.
Once you get your license, you’ll need to define the areas where you’ll want to build your real estate practice. Study the properties in those areas and the overall market on sites like www.dqnews.com and in the Multiple Listing Service. Over time, you’ll get to know the types of properties in those areas, the number of certain residential properties (single-family homes, duplexes, and multi-family structures). Also, you've gathered the data about recent home transactions, buyer trends, and average sales prices. Take all of this data and pepper it throughout your emails, newsletters and social media sites.
Drop in facts that will draw in a person's interest and convince them to take the next step in calling for your services. You want to impress them with the market insights that you've gathered as they will feel confident about your skills. In addition, you want to do the same at face-to-face meetings and appointments with clients. Showing people that you've done all the real estate homework will allow you to gain repeat business and positive reviews that will help your career.
By immersing yourself in community events, attending government meetings, and sharing your local expertise through social and other media, you can solidify your position as a top real estate expert in the local market. It’ll be easier to convert leads into real estate transactions by showing your in-depth knowledge about local market trends.
As always, please call my office at 888 768 5285 or visit our website for information on real estate classes online or in the classroom. If you are getting ready to prep for the real estate exam and you need a real estate crash course click here.
Always looking to bring you value.
Love,
Kartik
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Are you thinking about enrolling in real estate license courses? If so, your first thought may be whether or not now is a good time to start.
How’s the market doing?
A career in real estate can Read more...
Are you thinking about enrolling in real estate license courses? If so, your first thought may be whether or not now is a good time to start.
How’s the market doing?
A career in real estate can be very rewarding and it all starts with the right real estate school. The U.S. Department of Labor reports the demand for real estate agents and brokers will grow by 7 percent from 2018 through 2028, a rate that’s faster than average for all job growth.
Demand is out there for well-qualified, dedicated agents willing to learn the industry from the ground up.
Should You Enter a Career in Real Estate?
Timing Is Everything
Those wondering if they should become a REALTOR often ask themselves whether now is the right time based on market conditions. The short answer is that while your initial timing can matter remember that getting your license now can open the door for years, no matter how the market swings in the short term.
Here are some answers to common questions:
#1: What Is the Market Like?
The real estate market grows and expands on a consistent basis. There are times when market activity can and does cool like back in 2008 and 2009. However, the current market remains robust with the possibility of ongoing appreciation.
Put that aside for one moment, though. Remember that people are always buying and selling real estate no matter what the market does. Keep in mind that there are always consumers looking for their first home or to downsize after the kids move out. There are always new developments and opportunities. In other words, there is always the need for a qualified real estate agent.
#2: But Is The Economy Slipping?
While there are valid concerns over how long the economy will continue to grow at its current rate remember that transactions happen in all economic conditions. More so, many people move into real estate investing when the stock or other markets begins to decline. I talked briefly about this in an earlier article.
That’s because real estate is viewed as a safer and more tangible investment for some. This also creates opportunities for individuals looking to grow their career.
#3: Are Houses Selling Today?
The answer here is “yes” as well. More so, in the long term, there will be an even higher demand for homes. I don’t think anyone believes that the population is going to decrease throughout the United States any time soon.
The current economic climate has helped push home values high. A combination of low interest rates and high demand have sent prices soaring in many areas.
In some areas, they are simply out of reach for some buyers. As home prices begin to slow their rate of growth, they will become in reach for more consumers, especially those looking to buy their first home. Homes are selling and will continue to sell.
Starting a Career in Real Estate - Is It Right for You?
People will always be buying and selling homes. Demand will ebb and flow. Real estate agents committed to providing a high quality of service to their clients will continue to see significant demand for their services. Your buyers be might everyday consumers looking for their first home as home prices fall. Or, you may be able to work hand-in-hand with investors who are looking for good deals. Real estate classes help you prepare for every market condition, too.
If you:
• Enjoy real estate and looking at homes and buildings
• Love helping people
• Like to negotiate
• Want the flexibility of working on your own schedule
• Want unlimited income potential
A career in real estate could be right for you. You can meet the California real estate license requirements though our real estate school in as little as 54 days and start taking advantage of the current market climate. Once you establish yourself, there’s no telling how the market will work in your favor.
A shameless plug, ADHI Schools is the number one real estate school in California. We can walk you through the pros and cons of being a real estate agent.
Call us at 888 768 5285 or visit adhischools.com to pass your real estate exam the first time.
Love,
Kartik
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Once you complete our real estate school and pass the real estate exam you’ll be out on your own to start your career. Hopefully you’ll be ready to land your first client and take home a big commission! Read more...
Once you complete our real estate school and pass the real estate exam you’ll be out on your own to start your career. Hopefully you’ll be ready to land your first client and take home a big commission! =)
After doing well on your real estate license exam, you'll get your desk set up with your broker and start working some leads. You’re probably going to start reaching out to your sphere of influence and let them know you’ve started a real estate career.
As a newer real estate professional, the goal should always be to compress the time between finishing real estate school and cashing your first commission check.
To this end, I wanted to write a quick article exposing some bad habits that real estate agents can develop if they’re not careful.
Remember That Self-Employment Is Vastly Different From a 9-5
A self-employed person is solely responsible for his or her workday. In the real estate industry, it’s a common misnomer that once you pass your real estate exam, you’ll have leads pouring in and homes to sell. That’s not what happens.
Instead, you need to work to create your own business. This often means spending time daily working to drum up business, cultivate leads, market, and respond to internet inquiries. Here are a few of the bad habits real estate agents create that virtually prevent them from becoming a successful Realtor quickly.
You’re Doing "Busy" Work
You’ve ordered business cards. You cleaned up your desk. You have talked to a dozen other agents today about what’s going on in their business and personal life. You may have even touched up your LinkedIn profile and posted a picture of the salad you had for lunch on Instagram. All of these “tasks” might feel necessary but the bigger question is what did you ignore by doing these things?
Are you prospecting for buyer and seller leads? Are you following up on existing ones? In short, it’s easy to “feel busy” without actually building your pipeline, which ultimately cuts into your income.
You’re Frustrated with Your Workday
There are a dozen calls you have to make today for various reasons. Each one of them could be a lead. Perhaps you have some really good leads, but there’s so much on your plate to do right now that you miss those key opportunities to connect. You’re in and out of the office, forgetting appointments, and not seeing the kids. And, you thought this career was flexible?
This is a common concern. The problem is that without any oversight into your activities and a consistent schedule, it’s easy to lose track of what’s important. To be successful as a real estate agent, you have to be organized. You also have to create a schedule that works for you and stick with it. This discipline is actually the key to freedom. Make time to plan for every task that matters during your course of the day.
Remember - The number one calendar item is prospecting.
Other Bad Habits Costing You Your Career
After completing real estate school, it’s easy to become overwhelmed. Here are more of the common bad habits agents have:
You aren’t communicating with your prospective clients fast enough. This is especially true for internet leads. Speed to contact makes a big difference in results. Make every client believe that they are your most important client. Work to return calls as quickly as possible. Try and email back as fast as you can.
Failing to marketing adequately. If you’re not seen in the local industry, you’re unknown to prospective clients. Make marketing a component of your day, every day. Remember that there are over 400,000 real estate licensees in California alone - You have to make noise to stand out!
You’re not looking as professional as you should be. Consumers expect agents to look professional at all times. If you look disheveled, that could indicate you’re less organized and not “with it.”
Not updating your website or social media accounts in quite some time. Remember, if you haven't posted in a year people will wonder whether or not you are still in business.
Send a contract to be signed electronically and tell the client to sign without explaining what they are signing.
Being "too busy" to call other agents back.
Working 24/7 and not taking care of your health.
Getting paid your commission and not setting aside money for taxes.
If you finished at our Orange County real estate school don't forget that this is only the beginning. As Warren Buffett says "The chains of habit are too light to be felt until they are too heavy to be broken." The best way to break bad habits is to avoid them in the first place.
For information on getting a real estate license, call us at 888 768 5285.
Love,
Kartik
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As you complete your real estate classes with us, you may come across a buyer client who is looking to “fix their credit” before buying a property. You may also represent a seller who is in escrow Read more...
As you complete your real estate classes with us, you may come across a buyer client who is looking to “fix their credit” before buying a property. You may also represent a seller who is in escrow with a buyer and the buyer’s loan starts to go sideways because of an error on their credit report.
What do you do?
One of the most common questions that consumers ask credit counselors is, "How can I get negative items removed from my credit reports?" The accurate, short answer to that question is this: It's relatively easy to get incorrect information removed from a credit report but can be quite difficult to legally remove items that are reported accurately. In other words, if a debt is yours, and if all the particulars listed on the credit report are correct, they your options for legal removal are limited.
The good news is that there are several ways to potentially eliminate negatives from an official credit report, even when the debt is yours and when it's listed correctly. Here are the strategies that many consumers have used to clean up their credit reports:
Paying to delete negative items: If you contact a creditor and agree to pay the debt in full right away, then they might consider removing it from your report. This technique is especially successful when the amount owed is rather large and the delinquency is not very old. Many creditors are happy to have a large debt paid off quickly and taken off the books. They'll often agree to remove the item from your report if you ask them nicely, in writing and as soon as possible after it has been reported to the bureaus.
Asking for a goodwill removal: After you've paid a debt and the listing is still on your credit report, it's possible to contact the creditor and request that they remove it. It helps to explain that you have otherwise good credit and have been current on any other accounts you have with them. If there were special circumstances that led to the delinquency, be sure to explain the situation to the creditor. This is basically a "hardship" request and doesn't always work, but it's worth a try.
Asking for verification of the debt after several years: Bureaus can keep negative items on a report for up to seven years. After one or two years have passed, you can contact the creditor and ask for the debt to be verified. It's often the case that creditors can't verify older debts that have been paid off and closed out. If they can't verify it, then you can have it legally removed by contacting the credit bureau in writing and disputing the debt. Without verification from the creditor, the bureau will have to remove the listing.
It's important to remember that only the creditor has the power to remove a legitimate listing from your credit report. In fact, they are supposed to leave items on for up to seven years so that other lenders can get an accurate view of your credit-worthiness by reading your report. But, as in the situations noted above, creditors are sometimes willing to remove a negative item if you approach them with the right attitude. Separately, inaccurate information can potentially be removed by invoking the last strategy mentioned.
If you are interested in taking live real estate classes or preparing for the real estate exam, call us at 888 768 5285 or visit www.adhischools.com
Love,
Kartik
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