how to be successful in real estate

5 Tricks for How to Be Successful in Real Estate

If you’ve recently received your real estate license, congrats!

You put in long hours, studied hard, and had to put off a lot of things in your personal life to get here. And now, you’re one of the three million people with real estate agent licenses in the country!

That’s a pretty big number, though. Depending on where you live, you may have some stiff competition. The good news is that we’re here to help.

We’ve got five tips on how to be successful in real estate if you’re just starting out.

How to Be Successful in Real Estate

When you’re first starting out in real estate, it can get frustrating. You may feel at times as if you went through all the classes and paid all that money for nothing.

After all, you’re not only competing with other agents, but there are a lot of weekenders who start their own real estate investment companies.

When they make a cash offer before an owner even has you list the property, you’re out commission. But you’re also out on having the property in your portfolio.

We’re going to keep it positive, though, because there are sure-fire ways for you to succeed. Take a look at some of them below.

1. Research Your Market

More than six million homes sold last year and it’s a seller’s market right now. That means that the current owners, or sellers, have the upper hand.

You need to look at the multiple listing service (MLS) and comparative market analysis (CMA) to find out real estate trends. These resources will help you know the value of homes in the area that are currently on the market and what’s recently sold.

You’ll get an idea of how you should price houses in your chosen market.

2. Develop a Business Plan

Every entrepreneur needs a business plan, regardless of the industry. When you’re in real estate, this is important to keep your goals on track.

You should also include your budget and stick to it!

In your business plan, make sure you include your marketing plan. Advertising and marketing is a big part of getting your name out there and getting clients.

But, you don’t need to spend a lot of money to get it done — more on that in a minute!

3. Partner with Success

Of course, you want to be your own boss but in the beginning, you may need some help. Talk to local brokers and other established real estate agents about working with them.

They could turn you down, but they could also turn into your mentor.

4. Host Open Houses

Open houses are an easy way to get your name out there. After all, prospective buyers aren’t looking at pictures of the house on a website, they’re looking at the house in person. This gives you a leg up in closing a deal.

People will ask you questions about the house. Make sure you know the key selling points and some less-than-desirable things about the property as well.

You should be able to answer how old the roof and HVAC is and what the closest schools are. Don’t think of yourself as a salesperson. Think of yourself as a consultant.

5. Start a Blog and Get Social

The broker you work with will likely give you a page on their site so you can feature your listings. But your social media accounts are all yours.

Post walk-through videos and photos of your listings. Engage with your audience on relevant social media channels that will get your message heard by the most people.

Start a blog and learn as much about local SEO as you can. Use that knowledge to create compelling content. This could be about anything from local restaurants to community events.

Then, take that content and post it to social media.

Real Estate Doesn’t Have to Be So Hard

Now that you know how to be successful in real estate, you can hit the ground running. If you follow our helpful tips, starting a real estate career will be easier than you imagined.

You don’t have to spend thousands of dollars you don’t have to market yourself or your new business. But you may need some help.

Check out our business blog for more useful hacks and tips for your new venture.