Many of our readers are just starting their journey into the world of real estate and they want to start a real estate business from scratch. Most of them want to understand the steps of the journey they Read more...
Many of our readers are just starting their journey into the world of real estate and they want to start a real estate business from scratch. Most of them want to understand the steps of the journey they are about to embark on and see a path to success laid out for them.
Step 1: Enroll in real estate classes
The first step in your real estate journey is to enroll in a California state approved real estate school and complete three required courses. The courses required to sit for the real estate exam are:
Real Estate Principles
Real Estate Practice +
Elective course
While we offer a selection of elective courses, my recommendation is to choose Legal Aspects of Real Estate because it contains the most relevant information to prepare you for your California real estate exam. Additionally, if you wish to obtain your brokers license at some point,Legal Aspects of Real Estate is a required course so completing this course will serve these two purposes.
As far as options to complete the program go, we have two packages that can get this done for you. One is a package wherein a licensed instructor will walk you through all the material and the other is a self-study option where you read the material on your own.
My recommendation would be to choose the instructor-led Zoom calls mostly because there is so much material to digest and having a professional to ask questions of will make the experience easier and provide more of a roadmap for you.
Step 2: Pass the real estate exam and obtain a real estate license
Once you have enrolled and completed the three required courses the next step is to take and pass the state licensing exam in California. The best way to get ready for this exam is with our famous crash course software. Our crash course offers hundreds of videos explaining each answer choice and why the answer is correct and the others are wrong.
The sales license exam is given over 3 hours and it consists of 150 multiple-choice questions. Passing score is a 70% or better.
Pro tip: Don’t worry about getting 100% on this exam. The state doesn’t even release your score when you pass. The exam is strictly qualifying in nature and as long as you score at least a 70% you’ll be good to go.
Obtaining a real estate license also requires that you clear a criminal background check. This is done through a process called Live Scan. This Live Scan is required even if you’ve gone through this process in the past for another license or purpose. For example, we have many students who are also notary publics or have other professional licenses and certifications that required that they be fingerprinted in the past. This doesn’t matter - you’ll have to go through the fingerprinting again.
Step 3: Choose a real estate broker to work for
If your aspiration is just to get a real estate license, you don't necessarily have to put that license with a broker. However, if you want to work and represent buyers and sellers, the real estate law requires that you find a broker to work for and hang your license with.
As you make the decision about where to work keep in mind that there are many things that determine whether you are working at the right firm.
Learn more about how to pick a broker here:
To a newer agent, the most important thing in deciding where to work should be the training program available and the culture around the office. For example, if your goal is to make a lot of money and help lots of clients, you'll want to make sure that you are in an environment where the broker encourages teamwork, camaraderie and a culture of training.
Step 4: Start working on your sales skills
One of the most underrated aspects of starting as a new real estate sales professional is the fact that people forget that the nature of this job is sales. The successful real estate agent will employ marketing strategies to get their name out there, be able to set an appointment and ultimately close for the contract.
Whether dealing with buyers or sellers there are objections that your client will inevitably throw at you. For example, buyers might want to wait until interest rates come down or prices cool off. Sellers will want to understand what your marketing plan is and may even ask you to cut your commission. Your ability to handle these objections with empathy and professionalism is key to your success.
The best real estate sales professionals continuously practice their skills, role-play, and work on their sales abilities each and every day.
Step 5: Solidify Your Marketing Plan
With over 400,000 real estate licensees in California it's important to be able to be found and recognized as an area expert. The only way to do this is through proper marketing as marketing is the lifeblood of any business. It’s no different when it comes to you as an individual real estate professional.
As a newer agent, the big question is, how are you going to be found? Joining a team can help in this effort because teams generally allocate marketing dollars to lead generation and they pass out these leads to members on their team.
It’s important to bear in mind that these leads come at a cost, however. Commission splits are often lower on a team, because not only do you have to pay the brokerage but you'll also have to pay a split to your team in return for generating those leads for you. Being able to ride the coattails of your team should mean that you don’t have to figure out your own marketing plan.
Whether or not you end up joining a team, I would still suggest doing community and sponsorship events, a lot of direct mail, and maybe even some good old fashioned doorknocking. Consider sponsoring the local chili cook off or the Little League team to get in front of residents in the community.
Remember that sales and marketing go hand-in-hand. Marketing will help you bring in the leads, while sales skills will help you close the leads that you do generate.
Don’t neglect social media. It’s important to be active on Instagram and Facebook and maybe even start your own YouTube channel. Social media is a great way for members of the community to get to know you and gives you the chance to show that you're an active local real estate professional.
Step 6: Continue to grow your career
I understand that reading that you should “grow your career” sounds cliche and I’m aware that this saying means different things to different people. In the context of being a real estate agent, growth could involve branching out into other aspects of real estate like property management or commercial real estate.
The concept of growing your career also involves attending continuous training on sales skills, marketing, social media strategies, or even technical training like new laws that affect the real estate community or updates to the purchase agreement.
Your goal should be to avoid stagnation and always continue to grow and learn. Real estate is an ever-changing industry and technological tools have changed the way the properties are purchased.
Given the fact that our clients are trusting us with what is likely their largest asset, we have a duty to make sure that we are learning all we can and that we are the best real estate agent possible.
I'm hoping the six steps I’ve outlined will help understand the arc of starting and growing a lucrative career in real estate. It can be an extremely rewarding career and I’m looking forward to helping you get started or continue to grow it.
If you are interested in learning more about starting a real estate career, call us at 888 768 5285 or send us a message on Instagram
Love,
Kartik
TLDR:
Here are the six steps to starting and growing your real estate career.
1. Enroll in real estate classes
2. Pass the real estate exam and obtain a real estate license
3. Choose a real estate broker to work for
4. Start working on your sales skills
5. Solidify your marketing plan
6. Continue to grow your career
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As a real estate professional, it’s hard to overstate the importance of having a competent loan officer on your team. Since most real estate purchases involve financing, the person quarterbacking the Read more...
As a real estate professional, it’s hard to overstate the importance of having a competent loan officer on your team. Since most real estate purchases involve financing, the person quarterbacking the buyer’s loan can make or break the purchase of the property - and ultimately affect whether or not you get your commission.
Remember - real estate agents don’t get paid for opening escrows, the only thing that matters is closing them.
As a student in our real estate license course, assembling a great team consisting of a reliable escrow officer, title representative and a mortgage professional might seem completely disconnected from your pre license studies or real estate crash course but it’s an important thing to consider nonetheless. This way, once you do obtain your real estate license you can hit the ground running.
So who do you choose as your go-to lender? I made a quick list of some of the things you’ll want to consider for as you choose a lender for your team:
Reliable Pre-approvals
In short, if a lender is going to write up a pre-approval letter for your buyer it’s important to be sure that the transaction is actually going to close. While there are no absolute guarantees, you and your buyer should at least have some confidence that the transaction is actually going to happen with no foreseeable problems regarding the loan.
Lots of lenders today will issue a “DU” approval as well. “DU” stands for
Desktop Underwriter with Fannie Mae Desktop Underwriter is an automated system for mortgage underwriting that determines if a loan meets approval requirements. Lots of listing agents will also want to see an “approved eligible” printout from DU to ensure that the buyer is well qualified.
As a real estate agent you need to have trust in your lender that their pre-approval letter carries weight. At the end of the day, if that pre-approval letter doesn’t translate into an actual funding it will leave the real estate agent and the buyer with a big problem on their hands as the buyer may end up losing their deposit and the real estate agent won’t get paid.
In the end a pre-approval that doesn’t blow up in your face is a bare minimum you should expect from a lender.
On-Time Closings
There’s nothing worse than a closing that is continuously delayed. It puts the buyer and the seller in precarious positions, forcing them to rearrange schedules, potentially delaying start dates at jobs, and generally giving all parties in the deal heartburn.
To be clear, on occasion there will be delays that are beyond the lender’s control. Perhaps the buyer’s employer is lagging on delivering a Verification of Employment. Maybe the IRS has delays related to a tax transcript. But either way, a lender that has the ability to foresee potential problems related to the loan early on and takes action based on these possible roadblocks is worth their weight in gold.
A Wide Variety of Loan Products
While it’s unfair to expect a lender to be an expert in all loan types, a lender should have the ability to do more than a home loan for a borrower with a 800 FICO score and twenty percent down.
It’s not unreasonable to expect a good lender to have a wide variety of loan offerings -- conventional loans, programs for first time home buyers, FHA loans, VA loans and more. A lender that has these basic arrows in their quiver will allow the Realtor to get more comfortable with the lender and solidify them as the go-to for new clients.
The Ability to Problem Solve
Most loans have some hair on them. Maybe a borrower has a gap in their employment history. Perhaps there is one 30 day late payment showing up on the credit report from 18 months ago that is bringing down their credit score. Either way, most real estate loans aren’t perfect and they require some level of critical thinking in order to close them on time and with minimal hassle.
Finding a loan originator that knows how to deal with small -and sometimes large - problems is helpful.
Superior Customer Service
Excellent customer service makes dealing with a lender less stressful. What defines good customer service? In the lending and real estate world, this means answering your phone and responding to email, communicating often and keeping tabs on the cadence of the loan. Whether the agent or borrower needs the answer to a simple question or requires serious assistance with a major issue, the lender should have customer service resources available. If the lender isn’t immediately available, the lender should make it clear who should be contacted in their absence.
Transparency
Above all else, borrowers today value integrity and transparency. Lenders who change terms at the last minute or mislead homebuyers are not to be trusted. Most real estate agents seek out lenders with proven histories of doing right by clients and respecting the financial burdens of those about to make the biggest purchases of their lives.
When a real estate agent recommends a lender to a buyer they are, in essence, vouching for them and there can be reputational risks to the agent if the lender doesn’t perform. Pairing motivated buyers with reliable lenders is an important job of a buyer’s agent. The right partnership will result in a smooth transaction that becomes a win for all parties.
Love,
Kartik
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Starting a career in real estate and obtaining your real estate license opens up a new world of opportunity to you. There are so many different career paths that can be taken one you get your real estate Read more...
Starting a career in real estate and obtaining your real estate license opens up a new world of opportunity to you. There are so many different career paths that can be taken one you get your real estate license.
While it’s true that most of our students start their career selling houses, commercial real estate (CRE) is also an option for you in California. There are similarities between both areas of practice as they involve helping clients buy, sell and lease property so the desired outcome is the same. The high level difference is that the clients to whom you provide services are simply looking at a different class of property.
A common misconception is that the commercial side of the business is somehow more complicated than residential but in many ways the opposite is true. Commercial files can be thinner because there are many forms and documents that are required in residential real estate that don’t exist in the commercial world.
In any case, if commercial is an area of specialization you find appealing, here are some things to consider and things you’ll need to do:
1. Obtain a real estate license
Every real estate agent, regardless of whether they plan to work in residential or commercial real estate, must meet specific criteria and pass an exam. Individual states set their own criteria, so be sure to research your state’s process. Generally speaking, you must meet eligibility requirements, take approved pre-licensing real estate classes, and pass the real estate exam to obtain a license.
2. Find a firm specializing in CRE
After you choose a real estate school and receive your real estate salesperson license in California, you’ll have to place your license under a broker. Once you select a broker, the firm will dictate the type of real estate you can practice. If you want to pursue work in the CRE market you will have to find a broker that has the bandwidth and resources to conduct commercial sales and leasing. This is where it can get a little sticky because most residential firms don’t offer the tools needed to do commercial real estate and most commercial firms don’t offer the residential tools to sell a house.
3. Get trained up in commercial real estate
Finding someone to mentor and train you to practice commercial real estate is not as easy as finding a residential mentor. Part of why this is true is that there are far more residential real estate agents than there are commercial ones and residential firms are typically more eager to hire than commercial ones.
There are large commercial companies like CB Richard Ellis and Jones Lang LaSalle that might hire you with the right resume and connections, or you can explore working at a more boutique local shop in your area. The key thing here is to find solid training and a mentorship program that will allow you to start your commercial real estate career properly.
4. Identify an area of specialty
Many residential real estate agents specialize in certain types of homes, such as retirement communities, townhouses, luxury homes, or another niche. The commercial real estate industry tends to be even more specialized than this. The commercial real estate world tends to be broken down into five pillars:
Retail - Shopping centers
Industrial - Warehouse type uses
Office - Larger or single tenant office spaces
Raw land - Developer specialization
Apartments/multi family sales - 5 or more apartment units
While there can be some cross-over between these two functions there is still a high level of specialization.
5. Create a marketing strategy
Not unlike residential real estate, you need to have marketing and branding strategies in your toolbox. In addition to the types of properties you want to specialize in, your plan should include factors such as how to target clients, budgets, unique selling points, and strategies to client outreach.
These branding and marketing initiatives can include real estate postcard mailing, really cool property photos, or a social media strategy.
6. Explore other career possibilities
One of the benefits of working in the commercial real estate field is the ability to expand your practice. Besides an area of specialization, there are opportunities to participate in arranging financing for a property, performing property management, or (as mentioned above) negotiating tenant leases.
Just how wide of a net you can cast is going to be dependent on your brokerage and the services that they offer. If your brokerage doesn’t have a trust account and accounting systems created, you won’t be able to legally conduct property management so you’ll want to explain your aspirations to your broker and see if they have a system to support your endeavors.
A final thought
Because sales prices are generally higher on commercial properties than residential ones commercial agents often find they can earn larger commissions, which can equate to higher annual earnings. Many agents who specialize in this area find it to be a lucrative, exciting, and rewarding experience. It's important to know, success doesn't come overnight, it takes effort and experience. The large commercial deal sizes can have a negative impact on the commissioned real estate agent, however. If your entire earnings for the year are dependent on one large deal that ends up falling apart this can put you in a precarious position.
Nevertheless, if commercial real estate sounds appealing to you, you need to start with our real estate license course. Register today so we can help you prepare for a lucrative career in the commercial market.
Love,
Kartik
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As a current or former student in our real estate license school you might remember my lecture from Real Estate Practice on listing presentations. I’ve placed a link to the YouTube video here if you Read more...
As a current or former student in our real estate license school you might remember my lecture from Real Estate Practice on listing presentations. I’ve placed a link to the YouTube video here if you need a refresher or haven’t seen it yet.
While this video isn’t intended to be a real estate crash course it’s still helpful to watch as you strategize around building your seller-focused real estate business. While buyer clients are important, a scaleable real estate business is built around controlling listing inventory and that means working with sellers.
In order to obtain listings, you must become proficient at generating seller leads and making killer presentations. The high-level goal is to demonstrate you are the best Realtor for the job of selling their home.
Because of the competitive nature of the market you’ll need to have a solid listing presentation. Sellers have options when it comes to listing their home as the number of real estate agents in an area far exceeds the inventory at any given time.
I’ve put together some tips as you work with and negotiate with a potential seller.
1. Introduce yourself
Every meeting starts with an introduction. Keep in mind first impressions matter—so be sure to get this part right—and remember to smile. Be prepared to share your credentials, previous successes, and any other pertinent information demonstrating why you’re the right person to list their home.
2. Know the property
Before you arrive, make sure you’ve researched everything possible about the property and dig beyond surface-level information like bedroom and bathroom count. If you haven’t done your homework, it’ll be obvious to the seller. Make sure that your Comparative Market Analysis (CMA) is detailed, up- to-date and visually appealing.
3. Walk through the selling process
Share a clear timeline with the seller so they know what to expect. Much of this timeline will depend upon the current state of the market, so be prepared to explain any circumstances that will impact the time it’ll take from listing to contract and from contract to close.
It’s also important to also explain to the seller that buyers will generally have the right to conduct an inspection on the home while it’s in escrow. This could cause the buyer to ask for repairs or even ask for a monetary credit as a result of the inspection.
Going through several possible scenarios with the seller will help minimize surprises during the listing.
4. Explain pricing strategy
The main thing that prevents a listing from selling is an inappropriate price. Proper pricing can overcome nearly everything. Does the property have an inferior location? Price it properly. Is there an odd smell or is the home in desperate need of landscaping? Fix the price.
The professional real estate agent should have relevant comps pulled, bearing in mind the condition of the subject property, condition and location of comps, and have the communication skills to convey this information to the seller.
Be prepared and ready to explain the recommended price to the seller. It’s not uncommon for the owner to believe that their home is worth more money than your data suggests, especially in the world of Zillow. I recorded a YouTube video about this here if you need a refresher.
5. Explain pre-listing steps
As a sales technique, speak to the seller during the presentation as though you already have the listing. Educate them on what will be occurring after they sign. Assume that they are going to be listing with you.
It’s important that the seller know that the property won’t hit the market the instant you leave the presentation as there are many things that still have to happen. Photography must be arranged, marketing collateral needs to be created and copy must be written, as examples.
Giving the sellers a heads up about the process will go a long way in establishing rapport, trust and an understanding of the cadence of the process.
6. Explain marketing strategy
If your marketing strategy consists of placing the property on the MLS with one iPhone photo - this isn’t going to be enough.
Since real estate commissions easily run $10,000+ on most homes in California, it’s important to explain to the seller what the plan to sell their home is and why our commissions are as they are.
A well thought out marketing plan will help justify your fee and aid the seller in understanding where their money goes.
Include any syndication, local marketing, and online publicizing—share techniques you use that make their home stand out in a competitive marketplace.
7. Remember to listen
You want to build a relationship of trust with clients. Talk to them about why they’re selling their home and ask what their future plans are understanding their needs will help you better serve them.
Also remember to include all family members in the discussion. Often times a real estate professional might only speak to one spouse, falsely believing that they are the decision maker when the decision to list might be one made jointly by both owners.
God gave us two ears and one mouth-remember to use them run that ratio.
8. Dress for success
Non-verbal cues like body language, grooming and how we dress can say a lot more than verbal communication can. There is little doubt that in a post-COVID world the business climate has moved away from suits, ties and pantyhose in favor of a more relaxed attire.
Depending on your market, how you dress might vary, but generally, business casual is probably appropriate.
One last tip: While the world is a bit more casual it’s better to be overdressed than underdressed so choose your wardrobe carefully.
9. Leverage the power of reviews
If you (or your company) have testimonials or online reviews from previous clients, bring them to the listing presentation.
People are more inclined to trust others who have experienced success with their agents.
These nine tips should help you put your best foot forward when making listing presentations.
It all starts with the right real estate school so choose wisely. I’d love to help you get started in our great business. Call me at 888 768 5285 and I or a member of my team can get you started.
Love,
Kartik
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Social media is a terrific way for real estate agents to gain more exposure. However,like any other marketing strategy, you want to be careful about how you post. To ensure social media results that promote Read more...
Social media is a terrific way for real estate agents to gain more exposure. However,like any other marketing strategy, you want to be careful about how you post. To ensure social media results that promote a smart strategy, follow these do’s and avoid don’ts when posting on the various platforms.
Do’s of real estate social media posting
Promoting positive interactions is a must for a successful social media marketing strategy as a real estate agent. Here are a few top best practices.
1. Be selective
Be selective with the social media platforms you join. It’s nearly impossible for busy real estate agents to maintain a profile on every social media network. The U.S. NationalAssociation of Realtors (NAR) found in a study 97% of realtors chose Facebook as their preferred network. Facebook was followed by LinkedIn (59%), and Instagram (39%). Roughly one-third choose Twitter. Other possibilities include Pinterest, Snapchat, and YouTube. The key to choosing correctly is to know your target audience..
2. Be active
Promoting on social media goes well beyond setting up a profile and promoting listings.If you focus on self-promotion, you’re only going to alienate people. Instead, concentrate on being a part of the community. Share posts, make comments, ask thoughtful questions, and give shoutouts to connections. Bottom line, be consistent in terms of activity and be responsive to others.
3. Use visibility strategies
When posting or sharing others’ posts, be sure to use visibility strategies to gain traction. Good methods include using keywords with hashtags and tagging others in your network to give them call-outs.
Don’ts of real estate social media posting
Just one blunder can soil your professional standing, but a series of bad practices can really hurt your reputation if not careful. Here are the top don’ts when it comes to social media marketing for real estate agents.
1. Don't be overly promotional
This is #1 on the list of things NOT to do. Don’t try to oversell on your page, but use social media to share interesting news, customer interests, how-to’s, or even fun memes. By using your page strictly as a personal listing mechanism, people will disconnect from you or scroll through your posts without even looking. Always follow the 80/20 rule when using social media.
2. Use your own photos
Photos are a critical aspect of promoting properties. Ideally, you want to use your own photos to highlight listings you promote. (20% of your posts!) If using others' photos, be sure to first ask permission first and then publicly give credit to the photo’s owner.
3. Don’t post constantly
The trick to social media marketing success is balance. You need to find the “Goldilocks” level of posting. In other words, don’t post so frequently it becomes “noise”,or worse, social media’s version of unsolicited robocalls. Then again, you don’t want to post so infrequently that you become irrelevant. Focus on timely, thoughtful, and interesting posts, spread out. Determine what your audience likes and then deliver it.
Savvy real estate agents know how to skillfully use social media to gain the trust of potential clients and maintain strong relationships with existing ones. Focus on good social media practices, avoid bad ones, and you’ll create a standout online presence.
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As you prepare for your real estate exam you’ll no doubt take at least one of our crash courses. These lectures and online tools can be done in the comfort of your own home and are based on individual Read more...
As you prepare for your real estate exam you’ll no doubt take at least one of our crash courses. These lectures and online tools can be done in the comfort of your own home and are based on individual self-study.
But what if you aren’t quite ready for a real estate crash course yet? What if you still need to complete Real Estate Principles, Real Estate Practice and the elective course in real estate school?
While we offer an amazing self-study program to help you finish the required courses there are some students who don’t do well left to their own devices. Does this sound like you?
What if you wanted a professional instructor who walked you through the course material, but didn’t need to drive to a physical location? A plus with gas prices being $7 a gallon.
To bridge the gap between total self-study and a physical real estate school we offer an amazing Zoom-based option.
I made a list of seven benefits of this program to prepare and qualify for the California real estate exam.
1. Eliminate procrastination
By coming to our scheduled Zoom calls, you’ll be less inclined to put off studying the material to qualify for the exam. When working independently, it’s easy to procrastinate, but when you make a commitment to meet with our study group you’ll be more motivated to press on and prepare so you’re ready to cover the material with other group members.
2. You’ll Probably Learn Faster
Members of study groups like those on our Zoom calls tend to learn faster than individuals who work independently. With any type of learning, it’s common to get stuck on a concept and have difficulty getting over the proverbial learning hump. With fellow students and an instructor to talk out concepts with, it can clarify some of the drier material.
3. Fill in Gaps in Notes
While you might prepare for class by watching some of the videos on our YouTube channel questions might arise as you watch the videos or read the textbooks.
Bring you questions to class and the instructor will answer them and encourage you to deep-dive into the course material. You can read the book on your own first, knowing that if you do have a question you’ll be able to ask it to the instructor and bounce ideas off other students in the process.
As a result, fewer gaps exist, when it’s time to take the real estate exam you’ll be better prepared.
4. Sharpen Your Study Skills
Everyone has their own techniques they use to study. However, working with a diverse group of other hopeful real estate agents empowers you to sharpen your own study skills. You’ll be able to learn from the strengths of others and maybe even share your own with them.
5. Break Up Monotony of Studying Alone
Studying alone is very monotonous and it could lead to feelings of isolation, frustration, and loneliness. On the other hand, working with a group pursuing the same goals not only adds socialization, it gives you something to look forward to nearly daily. Check out our schedule of Zoom classes here! <hyperlink to https://www.adhischools.com/schedule >
6. Hone Your People Skills
Working as a real estate agent means you’ll need to hone your people skills if you don’t already possess them. Success in our industry is based on your ability to work with other people. In study groups, you’ll encounter a variety of personalities and this will strengthen your ability to communicate with different people - a must in real estate!
7. Get a Jump on Networking
In a sense, a study group can be your first step into developing your professional network. In any industry, it’s not what you know, but who you know. Often, those on our Zoom calls have built a sense of camaraderie – the perfect seed to grow a professional network. Remember, not only can you connect with members of your group, but they can introduce you and vice versa to other people. Knowing you have friends in real estate upon passing your exam is a great feeling - It’s never too soon to build a professional network!
In order to pass California’s licensing exam you’ll need to gain a full understanding of the topics and concepts used in everyday real estate business. Joining our Zoom calls can put you on a solid path.
If you are interested in getting a free guest pass to check out one of our Zoom study sessions, click here and pick a day and time that works for you. I look forward to seeing you on an upcoming real estate Zoom call!
Love,
Kartik
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Imagine you have completed all the required classes at our real estate school and now you are in the process of studying for your real estate exam. You’re probably taking our real estate crash course Read more...
Imagine you have completed all the required classes at our real estate school and now you are in the process of studying for your real estate exam. You’re probably taking our real estate crash course and are focused on prepping for the test.
You can probably tell from our hundreds of 5 star reviews that we know a thing or two about getting students to pass their real estate exam Still, I wanted to write a quick blog outlining a few things that can actually make it harder to pass your test so you know what not to do.
I’ve read some other articles from folks that incorrectly say that the real estate test is purposely and unnecessarily difficult. This isn’t really the case. If you understand the concepts and study you should have no problem passing.
I’ve read some other articles from folks that incorrectly say that the real estate test is purposely and unnecessarily difficult. This isn’t really the case. If you understand the concepts and study you should have no problem passing.
Consider the below list as you do:
Bad Prep Materials or a Bad Exam Prep Program
Call me a little biased, but I think that our real estate crash course is the best way to study for the real estate test out there. There are alternative products in the marketplace that aren’t California specific or that are written by people who have never even taken the real estate exam.
Obviously, the purpose of real estate exam prep material is to increase comprehension of the subject matter. Understanding that most people are on their mobile devices the majority of the time, our team developed an app for Android and iOS devices that is second to none. If you don’t have this yet, get it!
In the end, prep materials that do not play to your strengths decrease your chances of passing the real estate exam.
2. Too Much Study Time on What’s Not Important
One of the common mistakes real estate examinees make is focusing on items not likely to be on the exam. What too often occurs is that folks can get bogged down in the minutia and lose focus on critical concepts and facts. Some call this not “seeing the forest through the trees.”
I cringe when students send me articles about how to study for the “math portion” of the real estate test or 50 questions on the history of California. The truth is that there is very little actual arithmetic on the real estate test so spending 15 hours studying how to calculate capitalization rates isn’t going to do much good when there are other topics that appear far more frequently on the exam.
The good news about our crash course system is that questions are weighted in the same ratio that the actual real estate exam is. Our system is organized in a fashion that emphasizes primary concepts and focuses your study time in ways that actually matter.
The point is that investing too much of your limited time in minutia might not be a good decision.
3. Procrastination
Procrastinators of the World Unite! Tomorrow.”
People from all walks of life come up with seemingly good reasons to put off studying. These rank among the common reasons people procrastinate.
Feeling Overwhelmed
Lack of Urgency
Lack of Discipline
Don’t Like to Study
Can’t Choose a Starting Point
Giving in to these and other inclinations puts potential real estate professionals behind the knowledge curve. The sooner you crack open the materials and begin learning at a deeper level, the better your chances of passing the test.
I would recommend doing all the questions in the training mode of our real estate crash course at least twice before attempting a mock exam. Focusing on our training mode will expose you to all the questions in our system and eliminate any false confidence from a high score on a random mock exam.
4. Failing to Follow a Study Plan
Possessing an actionable study guide and plan cures some of the reasons to procrastinate. Of course, potential real estate professionals will need to leverage a study plan in a timely and orderly fashion. Common missteps involve jumping around and prioritizing topics you feel comfortable studying. Such practices are more a lack of discipline than an attempt to gain high-level knowledge.
It’s essential to use a study plan designed to build one concept on another. Like many other industries and disciplines, real estate knowledge tasks people with possessing a broad understanding of how things intersect. Rifling through study materials and jumping ahead typically results in fragmented ideas that don’t translate to sound professional skills.
Remember to set aside plenty of time before the test to ensure that you don’t feel overwhelmed - This leads me to my final point.
5. Test Anxiety and Last Minute Cramming
When I was in high school and college, I would love the adrenaline rush of studying for an exam at the absolute last minute and leaving with a good score. While exhilarating, it’s important to realize that the real estate exam should not be approached in this manner. There is far too much material to only study the night before. A study schedule at least two weeks before the test will help you stay focused and ensure you have ample time to review and understand the material.
It’s totally normal to feel a little on edge before the exam starts. Issues such as self-doubt or fear of failure can derail efforts to pass the real estate exam. The good news is that test anxiety does not have to stop you from beginning a new career.
TLDR:
Learn to Study Effectively
Establish a Study Routine
Practice Relaxation Strategies
Exercise, Eat Well, Hydrate, and Get Restful Sleep
Reach out to our office at 888 768 5285 or shoot us a message if you’re having a hard time passing the test.
Love
Kartik
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One of my early real estate sales managers passed away a few years ago. When I think back on our interactions, one thing that stands out is his advice that an agent isn’t going to make money sitting Read more...
One of my early real estate sales managers passed away a few years ago. When I think back on our interactions, one thing that stands out is his advice that an agent isn’t going to make money sitting in the office behind a desk. You’ve got to get out there, pound the pavement and understand the local market.
Previewing property is something that should be a non-negotiable for a real estate professional, especially a newer licensee. Even if you are just starting in our real estate license course you can still play around on websites like realtor.com or other IDX sites to sort of “arm chair” quarterback and see what’s going on in the market.
Once you get your real estate license you’ll want to start physically entering as many properties as possible so you can keep a pulse on what’s happening in the marketplace. By the way, this shouldn’t seem like too much of a chore as most people that take our real estate classes have at least some interest in viewing homes and property for sale. I can’t tell you how many students I have spoken with that say “I love going to open houses! I want my license!” Now get out there and do it!
What is involved in previewing property?
Previewing property involves searching the MLS for homes and then scheduling times to physically walk the properties. As an additional prospecting method, some agents even knock on the doors of nearby homes to let neighbors know of the home that’s for sale. This can be particularly valuable in the event there isn’t a For Sale sign on the property you are previewing. When knocking, a good script could be to ask nearby owners if they know a friend, family member or co-worker that might be interested in the home for sale, it’s a great opportunity to “pick their new neighbor”. This is an easy and natural way of networking with nearby owners.
It’s free for you to do
One of the biggest benefits of previewing properties is the fact it’s an absolutely free method of gaining local market knowledge. The only investment is your time - and most new agents have more time than money. Savvy real estate agents who preview properties on a routine basis find they get more listings, obtain valuable market knowledge in the areas they work in and grow their businesses faster.
You can obtain valuable knowledge about the market
When you follow the strategy of previewing property you will gain a stronger understanding of the local inventory. This will empower you to rapidly identify properties for interested buyers. For instance, knowing a geographical area intimately means you’ll be armed with the ability to quickly answer questions clients have about inventory in the area. This boosts your professional reputation and people will start to see you as an expert.
Agents who have previewed properties may also have earned access to unpublished or not widely publicized information. Additionally you’ll learn what homes are on the market and the routine of previewing property will force you to dig into the local inventory daily.
You’ll have the ability to generate more leads
Physically going out to look at homes in a specific market means you’re also actively meeting people and expanding your professional network. While you could just view Matterport tours from your home or office there really isn’ta substitute to getting out in the field and touching the inventory. An added bonus is that you never know who you’ll meet that wants to hire you.
Buyers will be impressed with your proactive approach to understanding the market and know you’ll be equipped to help them find their dream home.
Sellers will appreciate that you have your pulse on the market and are more inclined to list with you because they’ll have faith you can help them present a solid marketing strategy.
Agents may also find as they preview homes, they stumble across properties not listed on the MLS, such as pocket listings, FSBOs, expired listings, and owners who want to sell but temporarily removed their homes from the market.
Networking is an important activity for any industry but has a special place in a direct sales business like real estate.
You gain information to have a powerful listing presentation
When you are on a listing presentation, rest assured that the seller is looking to hire an agent who knows the neighborhood, knows the street and knows their home. Previewing 3-5 properties daily will aid in your listing presentations because you’ll be able to demonstrate to your seller that you intimately know the market having seen all the inventory in the local marketplace. This is a non-negotiable as you don’t want to be seen as an agent who knows less than the client.
The net-net bottom line is that previewing properties will give you a reason to get out of the office – you just never know where it’ll bring you or what clients you’ll land next.
Remember what that sales manager told me so long ago - the money in real estate isn’t made sitting in the office.
Love,
Kartik
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To say that the world has changed over the last few years is certainly something of an understatement. As the pandemic began to take hold in March of 2020, suddenly in-person gatherings of any kind Read more...
To say that the world has changed over the last few years is certainly something of an understatement. As the pandemic began to take hold in March of 2020, suddenly in-person gatherings of any kind were all but impossible. In the real estate world, this created a bit of chaos as agents and clients wondered how to show a prospective buyer a house when multiple people can't be in the same place at the same time? Moreover, how do real estate agents operate in a world where everyone is suddenly doing business remotely?
COVID created a perfect storm for the real estate business and allowed for some pretty powerful “virtual” or “cloud” brokerages to come to prominence. Such companies mostly exist online - meaning that there are very few, if any, physical office locations to speak of.
Realtors who join such companies typically feel that having traditional office space doesn’t really matter because the nature of our work doesn’t mean we sit at a desk all day. These online companies also often offer higher commission splits to their agents because of lower overhead. The firm doesn’t have to spend money renting an office space or buy furniture, office equipment or pay utilities.
Some seasoned agents who already have an extensive book of business are attracted to this virtual model as the more experienced salesperson doesn’t need as much basic training and handholding as those who are new to the field.
This type of brokerage does have it’s downsides, however. In a traditional real estate firm, agents have the option of reporting to a location in the morning and leveraging support staff and have the ability to meet with clients and more. Larger real estate firms that have a significant brick and mortar presence are often perceived to have more credibility than a strictly online operation. Local buyers and sellers are often assured by a large real estate firm sign on the side of a building in their hometown that the company - and the agent - are there to stay. If you are wondering how to choose a real estate office to work at consider watching this video.
Another big downside of the “virtual” brokerage can be a lack of community. While some real estate agents are comfortable with the idea of working without the distractions of the workplace, some might find it difficult. Agents are often social beings (arguably even more than the average person) and long hours with only a computer screen and a phone can be painful for some salespeople. Building a career in real estate is hard enough and without a sense of community the journey can be that much more difficult.
Then again a virtual real estate firm might make sense when you consider what the duties of a real estate agent actually are. Most of the actual money making activities in the real estate industry are not performed sitting at a desk. When an agent has a client, they are either at the client’s home advising them on marketing strategy, going over offers, or touring a home or building.
Whether you decide to join a brick and mortar traditional real estate firm or go with a virtual one, just make sure that you will have support from the management team so that in the event you have questions or need marketing or other support you have resources.
Either way, your journey starts with real estate license courses and remember - even though we are a school that operates online, there are real people manning our phones. =)
Call us at (888) 768-5285 if you are ready to get started!
Love,
Kartik
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It's certainly possible for someone to buy or sell a home on their own without a real estate license. But if they wish to do so in a professional capacity and sell homes for others, they need a Read more...
It's certainly possible for someone to buy or sell a home on their own without a real estate license. But if they wish to do so in a professional capacity and sell homes for others, they need a real estate license. More than that, they'll need a license in each state that they plan to operate in. All state's requirements are different, it's important to research as much as possible before starting a career in the field.
But a lot of people don't realize that getting your real estate license doesn't just mean that you're destined to become a realtor. In fact, there are a wide range of different jobs that require a real estate license - all of which are more than worth exploring.
Real Estate Agents
Obviously, the prime example of a job that requires a real estate license is that of the real estate agent Here, a seasoned professional will work with prospective buyers and sellers on a transaction that hopefully meets the needs of both parties.
From the point-of-view of the seller, a real estate agent will try to get them the best price for their home that the market will allow. From the perspective of the buyer, they'll try to find anew home that meets as many of their needs as possible - all at the best price they can. Regardless, the industry is heavily regulated and there are a lot of rules that must be followed - which is why a real estate license is essential.
Brokers
Many people assume that real estate agents and brokers are essentially the same position - but that is incorrect. In the real estate industry, a real estate agent is simply someone who has been licensed to sell property in whatever state they live in. A broker, on the other hand, is someone who has gotten additional licensing and is now able to start their own real estate firm. This means that they're able to hire additional agents and have people working underneath them, thus building a business in a particular area.
Real Estate Paralegals
There are many law firms that specialize specifically in real estate and that is where real estate paralegals come into play. A paralegal is an invaluable part of a firm's support staff in that they help make sure that things are running as efficiently as possible. They provide support to lawyers working on various transactions and, in a larger sense, make sure that documents and other important data are always in the hands of the people who need it the most. In addition to offering help with the legalities of various transactions, they also need to know as much as possible about regulatory compliance in the various fields of real estate as well.
Property Managers
Property managers are those individuals who have been hired by a property owner to oversee the day-to-day operations of said dwelling. It could be the property owner themselves, but this isn't always the case.
In an apartment complex, for example, a property manager would be responsible for all back office tasks like collecting rent and handling maintenance requests. In the context of a private dwelling that someone is renting out, the job may simply come down to handling tenant needs as they come up. With regard to single family homes, it's not uncommon for a property manager to oversee multiple dwellings at the same time - making a real estate license (and the credibility that comes with it) crucial given the fact that it is an income-based property.
Commercial Property Managers
Commercial property managers are those professionals who are tasked with overseeing any non-residential property. This means places like office buildings, retail locations, storage facilities and more. Depending on who they are employed by it would not be uncommon to see them handle shopping centers as well. Commercial property managers will need to be adept at tracking rental income rates, total monthly expenses and other important jobs. They'll also be responsible for handling work orders and general property maintenance and will need to make sure that their properties are following all local and federal regulations.
Foreclosure Specialists
Finally, we arrive at foreclosure specialists - those professionals who deal with foreclosure duties in particular. Their job is a complicated one, as the foreclosure process can often take a great deal of time. They'll need to carefully manage various cases and, for a deal to be closed successfully, they'll have to make sure that it meets all federal, state, and local requirements.
Foreclosure specialists will both work with homeowners who may need to restructure their mortgage as well as investors who wish to sell a recently foreclosed upon property. Regardless, they'll need a real estate license in order to do so.
If you'd like to find out more information about the types of jobs that require a real estate license or if you just have any additional questions about how to get your real estate license, we are happy to help. Call us today (888) 768-5285..
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