What are the next steps for your real estate career?
What can you ultimately achieve with your license and how is it possible?
Whether it's just getting started in real estate, building a team, starting your own brokerage or getting into investing, join today's episode of Ask the Instructor to get to the next steps in your real estate business.
Did you ever get the feeling where you hit a wall on your career? You can’t advance and have a hard time going to the next step. No worries! Let me tell you what are the stepping ladders that you might want to know from being a consumer and going through every stage with your Real Estate Career. Mind you, this is not only the stages of your career but career stages where you will earn top dollar business profits!
Let’s first discuss how the real estate career stages are generally seen from my perspective. Consumer > Referral Agent > Professional Agent > Building Your Own Team > Investing/Being a Real Estate Investor > Starting Your Own Brokerage. Quite a long ladder right? You can go all through that, or you might target one of those career stages. In fact, from being a referral agent onwards, you are already earning. Sounds income reassuring already? If not yet, we are going to dive deeper into these stages in the next moment.
These stages might be helpful to you to figure out what career path you wanted to have. You might ask yourself, “where does the income or profit come from this career?”, Leads. You might have friends or family members thinking about selling or buying property, or even planning to rent or lease their property, one way or the other. These are considered as leads. That’s the start of your career path whether you might want to take your first step to Real Estate Business by cultivating those leads and converting them to Quality Leads which means, MONEY.
Let’s cut the chase, let’s now talk about these stages and how you might want to level up yourself into this Real Estate Business!
- Consumer — There’s always a point in time where you will be a real estate consumer. You are planning to buy/sell houses or rent/lease your property or someone else's property. Then at that point, you will need a real estate professional. You might be familiar with the processes already if you do this quite often, you will then hear how much commission percentage a referral or real estate agent get from those transactions, may it be residential or commercial transactions. I know, there’s always a time where you thought of earning those amounts right? Because, WHY NOT? Entering the world of real estate business is not that hard because everything is figured to you because this is a well-built industry. You just need to filled these checklist:
- Having good training
- Getting a mentor that matches your ideal business plan
- Brokerage that will help you with your career
- Real Estate License
- After that, you are all set to enter the world of real estate business!
- Referral Agent — Less Effort with Continuous Income Result? Is it possible with Real Estate? Yes definitely! You might want to be a referral agent to get this going. Ever got friends, family members, or even strangers who you heard planning to get property or any other real estate transaction? Those are leads! What your work as a referral agent, you refer these leads to the best real estate professional that you have on your network list which can convert these leads to quality leads that eventually close. That means commission on your end as a referral agent! Sounds so easy right.
- Real Estate Agent — Transition from consumer/referral agent to a real estate professional is not a shoot-to-the-moon task. Did I mention the checklist already? Yes of course, unless you skip that part. Those checklists will help get your gears running to get your Real Estate License and call yourself a Real Estate Professional, which means you are not just taking commission and giving Referral Agents their partake, but you’ll also have the knowledge to convert those Quality Leads and close deals smoothly. The knowledge you get from getting the good training, taking the examination, getting yourself a mentor, or even joining brokerage means business already, which means your sweetened commission takes from every sales transaction. If you are ready to get 5 figures to 6 figures income, take a dive for it!
- Building Your Own Team — Close Strategy, Lead Generation, Prospecting, Contract Signing, etc. There are different tasks when diving into Real Estate Business, so why not get a team and get those tasks filled with the best people you have in mind! If you know your system is working and you are making close deals every week, then having a team that can multiply that result will help you scale your business and career goals! The only crucial thing about this is getting the right people and getting the parameters and system set up not just for one person but for a team base system. After that, enjoy the gears working as your engine full-throttle to get the business to spout cash on the closing deals!
- Investing/Being a Real Estate Investor — Investing is an ideal career path that you might want to consider having. You just need to get the perfect touch on how the business works and one factor that you might want to consider in this career path is TIME and equity build-up.
- Starting Your Own Brokerage — Building your own brokerage or being a broker allows you to get real estate agents under you which you can aid them in different attributes that will grant you a partake on their commission. You might have an experience of 2 years in the field in the last 5 years to qualify for a broker licenses examination. After that you can enjoy the perks of running your own brokerage or being a broker.