So you’ve recently completed your Real Estate Licensing requirements and after months into your Sales Agent position or even being brand new to your real estate career, you find yourself feeling somewhat lost career wise. Don’t worry! I’m here to give you some ideas to make sure you keep moving your new real estate career forward!
“Happiness has everything to do with mindset, and nothing with circumstance”― Steve Maraboli, Life, the Truth, and Being Free
Right after starting out as a newly minted Sales Agent, I had The. Most. Random life events throw me for a loop and run off with my emergency fund. Being a fan of Suze Orman’s and Dave Ramsey’s money management principles, I calmed myself down and knew immediately that I needed a job that would offer me hourly pay until my emergency funds were replenished again.
What was keeping me up at night was whether to stay in the Real Estate field or take a break from the industry until I was in better shape financially. I knew that if I were to get a full-time job in ANYTHING that wasn’t real estate related, I would risk not having enough time to get myself back in the field. This was a risk I wasn’t willing to take because Real Estate wasn’t just a way for me to pay my bills, it was work that didn’t feel like work. I had discovered my true calling.
Reaching out to a mentor
I had no problem asking for help when I knew I needed it, so I reached out to my mentor. She understood where I was coming from and was familiar with what I was going through. She then made recommendations that were Real Estate focused, but provided more consistent pay. Some of the positions she mentioned require a Real Estate License, and others required additional licensing. Sometimes, they required neither! My goal now is to share my knowledge and experience with you because you are NOT ALONE. You’re brave enough to make big financial changes and transition into a new real estate career, so get excited!
Real Estate Career Opportunities
I’ve made the following list of real estate career opportunities to share with you and hopefully, one of them sits on the intersection where your personal values and what kind of work you find fulfilling meet! I must admit, I wish I had this list when I was tossing and turning at 3 AM wondering where I’d be in 6 months…
Each real estate career field below includes a job description and how you can apply for the position.
1. Real Estate Agent
Represent both buyers and sellers on behalf of the brokerage while assisting with the purchase or sale process. Prepare property listings, market analysis, contracts. Speak with loan processors and facilitate information needed from client to loan processors, appraisers, home inspectors, etc.
The Real Estate school you attend will usually have a list of recruiting employment opportunities for Real Estate brokerage firms. While you are interviewing a few brokerages some things to take note of along the way are what is their commission split? what are the office fees? Do they provide office space? What training programs do they offer? It is very important to set yourself up for success by not depending on your business to pay your bills.
Save yourself from having commission breath. Customers know when you desperately need the money, and it really robs away from you being able to enjoy your real estate career. I strongly recommend having 6 months of bills and emergency funds before going full-time. If you have a second job, don’t rush to leave it. Your clients will choose you because they like, trust, and know you. For Example, when you have a strong circle of influence that you know through your nursing job, you can grow your business focusing on them specifically.
$$$: Commission only
2. Inside Sales Associate
Once hired on to a team at a brokerage, they already have systems in place as far as how they want things done, and what steps to follow. This is most helpful if you are completely new to the real estate world because it sets excellent models to follow for the future when you decide to work independently. It is most common that you would be hired on as a buyer’s agent. As a buyer’s agent, you will be making prospect calls and converting leads to appointments. Ensure that the buying clients are pre-qualified. Showing homes. Writing and submitting offers.
Call the brokerage ahead of time, they will be very happy to hear you are a newly licensed realtor looking to join a team. Be ready for a multiple interview process. The team leader will want to make sure you are a right fit for the team already in place, and that you view feedback as a gift, and you understand there will be very little free time and a lot of hours (including after-hours) put into the business. It’s better to get 50% of 100, than 100% of 0.
$$$: Base Salary $25k-$30k + Commission Split
3. New Home Sales Consultant
Market the community throughout residential developments. Demonstrate model homes and inform customers of the floor plans. Pre-qualify prospects, process applications including financing documentation.
Positions and requirements are available on the home builders website. They receive hundreds of applications each time, so don’t get discouraged. Instead find ways to stand out. Update your résumé and stop by the locations near to you, introduce yourself to the managers, and email the hiring managers directly after you’ve requested their information. There are some hiring agencies that will allow you to shadow or complete the basic duties of a sales consultant for an hourly wage, this always looks good on your résumé as well.
$$$: 3 months of training paid $1600-$3000. After, 1% of each sale commission with a monthly draw.
4. Assistant Property Manager/ Property Manager
Perform routine calculations, posting and verifying duties to make payment to vendors, process resident rental payments, obtain primary financial data for use in maintaining property accounting records.
Find out local property management companies, stop by and introduce yourself with a résumé. Most brokerages have a property management company they refer all the rentals to, and that is a good start. After getting this information send a personal email summarizing your experience to save them the time of going through your entire resume.
$$$: $10-$22/ Hour
5. Leasing Consultant
Greet prospects and current residents. Fill out guest cards for prospects. Demonstrate community apartment/model and apply knowledge of the product by communicating features. Update availability report, submit processed applications. Follow-up daily on prospects. Distribute community-issued notices. Accept rental payments. Type up leases.
Hiring websites are usually the first to get open position notices. A real estate license is not required for this real estate career. If you have general real estate experience, apartment management is a completely different world. They won’t rely on your work knowledge, they are more interested in your customer service experience, and computer skills. The most popular computer system apartment complexes use is Yardi. This is where they register all the tenant’s information. If you have experience creating a database and staying in touch often while bringing valuable information, this is a plus.
$$$: $10-$15/ Hour
6. REO Sales Agent
Real estate owned, or REO, is the name given to foreclosed-upon real estate. After homes go through foreclosure and are not sold at auction, these properties are placed in a bank’s portfolio. Such properties end up in bank portfolios after unsuccessful sales at foreclosure auctions. You would be working strictly for the bank with guaranteed leads.
Job duties include listing the property, taking pictures, setting up basic utilities, lawn maintenance, market the properties, review the offers, prepare regular reports, keep contact with property management companies to plan You are expected to pay out-of-pocket for the expenses, and are completely refunded after the house sale. The homes are usually priced at competitive prices compared to usual market prices, therefore expect these homes to sell fast.
The best way to begin is to contact a few REO agents in the area and let them know you would be glad to be their assistant for a few weeks while they allow you to shadow. I recommend contacting REO agents in different areas that way they don’t view you as competition. After, you can find out the local banks such as Bank of America and view their career site for open positions.
$$$: Depending on sales
7. Transaction Coordinator
As a transaction coordinator, you handle all the paperwork for the real estate agents. From contract to close. Email date reminders to both the buyers/sellers about appraisal dates. Obtain all necessary signatures on listing agreement, disclosures, and all documents. Submit documentation to office broker for compliance. Acting as a point of contact to address all questions throughout the sale. Coordinate title/escrow, mortgage loan appraisal processes. Coordinate final walk through dates, moving schedules.
Your brokerage office will have a list of Transaction Coordinators, they will be glad to guide you in the application process. They will be interested in knowing about your contract writing experience, and possibly the few deals you have closed on yourself.
$$$: $11-$14/ Hourly
A state certified Residential Appraiser is a person qualified to issue appraisal reports for real estate property. You would be employed by a State Certified Appraiser. Job duty is to create a detailed report about the property and specify the property’s value and reasons why the value was given. Take photographs, research information on a laptop, take notes, prepare reports.
There are a few license requirements to become a state certified appraiser. You must complete the state approved appraisal education. You will start as a trainee/ apprentice appraiser.
$$$: $40k-$50k/ year
9. Home Inspector
Using engineering principles and construction knowledge, home inspectors examine previously owned homes for defects for buyers, and check new builds for code compliance. You will be performing non-invasive examination of the homes.
Getting into this field requires knowledge of electrical systems, building codes and testing equipment. Additional licensing is necessary. Real estate license is not necessary.
$$$: $45k-$58k/ year
10. Real Estate Photographer
You will be taking a series of photos of homes that need to be listed. Uploading them and sending organized labeled files to the Realtor. Making visual recommendations for a better quality of the photo. Editing photos as necessary.
If you don’t already have experience photographing your own homes, go out and purchase a professional camera (or rent one) and take photos of model homes with the builder’s permission. This way you can apply with a portfolio that shows the quality of the photos you take. Next, you’ll want to apply directly for a real estate brokerage team that is hiring a photographer or simply advertise yourself to the realtors in your area.
11. Administrative Real Estate Personal Assistant
As a personal assistant, you are helping the realtor tremendously by handling the office work, so they can focus mostly on closing the sale at listing presentations and networking.
Some duties include lead generation, appointment setting, answering to emails, creating marketing material, creating listing packages, delivering pre qualification packages to prospects, imputing new lead information into database, update blog, updating social media, printing signage, scheduling appointments, coordinate open houses, coordinate with sellers staging details, complete comparative market analysis, input all MLS listing information, manage new hires, create systems.
Many realtors will hire a personal assistant without licensing and later help them get their Real estate Sales associate license. This way the assistant is legally allowed to perform more duties such as price discussion, and showing of homes, etc. Prepare your résumé showing your real estate knowledge and clerical skills. Have a few references prepared as well.
$$$: $30k-$38K /year
12. Real Estate Attorney
You would be handling all real estate related issues. Transfers of title and deeds, construction, mortgage issues, zoning. Provide legal advice to clients, prepare resolution forms, take part in major legal actions.
Additional schooling to earn your Juris Doctor Degree.
$$$: $132k-$147k + bonus
13. Real Estate Instructor
Instruct Sales Associate, Post Licensing, and Brokerage classes. Maintain professional conduct always. Stay updated on subject matter. Develop program policies. Participate in department activities.
The applicant must certify their competency and obtain an instructor permit by meeting one of the following 5 DBPR requirements found at http://www.myfloridalicense.com/dbpr/re/documents/REZHRequirements.pdf
$$$: $43-$92/ Hour
14. Real Estate Book Author
You can have fun with this one. Write about your experience in Real Estate, Investing in Real Estate, Market, systems, selling, lead generating, tell a story, anything!
Its 2017. Amazon now allows you to publish your book for free on their site, no need to wait in line to get chosen by a publisher.
$$$: Publish for free and earn royalties up to 70%.
15. Real Estate Blogger/YouTube
YouTube is your Go To. To get ideas about topics, think about when you were applying to get your license and needing to learn shortcuts for word memorization, or the beginning of your real estate career when you were not so sure how to approach while door knocking. Spill your knowledge with the world in hopes to inspire confidence into all the new entrepreneurs.
You can start recording on your phone, blogging on websites. They key is to be consistent with your feed and stay genuine.
$$$: YouTube pays average of $7.60 per 1,000 views
16. Real Estate Investor
As a real estate investor, you will be involved in purchasing, owning, managing the property when rented or selling the property. Remain knowledgeable with the market. Reach out to other investors to collaborate in bigger investments.
One way to get started is purchasing your first home as the investment property and growing your portfolio from there with equity lines. There are also hard money lenders that you can contact and propose business deals. Define and know your market inside and out. Research how to buy property for back taxes through your local city government, and annual auctions.
$$$: Depends what you buy and sell.
17. Relocation Realtor
As a relocation realtor you can work for both the commercial aspect of the business or more commonly you would be working for employees of a company that are relocated to your state. Assist them with the pre approval process, right fitting clients into the right home purchase, advising with helpful information, area demographics, and community profiles!
Call and ask the Brokerages near you if they have a team that specifically focuses on networking with companies for their relocating employees. To gain more information on relocation knowledge you can inquire through the National Association of Realtors, Local Board of Realtors or Association, and even volunteer to join real estate related industry groups and committees.
$$$: Depending on sales volume.
Okay, we have reached the end of a real estate career list that started with 5 and everyday I keep on adding more, so I’ll try to stop myself from adding anything else. If I was able to inspire you to keep an open mind, talk to new people every day, make sure nobody discourages you from personal growth then my job here is complete!