Posted by: Kaplan Real Estate Education
Published: January 7, 2020
Real estate is an exceptionally accessible field of work for self-driven career changers. Many people looking to switch careers or enter the workforce consider real estate jobs, and for good reason. Starting a new real estate career has a lot of perks, like a flexible schedule, unlimited earning potential, and minimal requirements to get started. It may be the perfect time in your personal life to get started, but is the industry outlook good for prospective real estate agents?
There’s no need to halt your future plans of a career in real estate. According to the U.S. Bureau of Labor Statistics, the average growth rate for real estate jobs between 2018 and 2028 is projected to grow faster than the average, at 7 percent with the average for all occupations at 5 percent. The demand for real estate agents and brokers is growing steadily, and now is a great time to get a head start on your career goals.
Real estate continues to be a solid choice for investors in the coming year with slow but steady growth anticipated, according to the 2020 U.S. Real Estate Market Outlook report by CBRE. Commercial real estate markets are on the rise due to low interest rates, buoyant economic activity, and strong property fundamentals.
This is good news for prospective real estate agents hoping to have a successful career in the near future. However, achieving real estate success depends on more than just good market conditions and steady job growth. New real estate agents will need to tackle a few key things in order to reach their full potential. Read on for tips on how to succeed in real estate this year.
The first thing any prospective real estate agent will need to do is earn his or her real estate license. Your requirements will depend on the state you wish to practice in, but you will need to complete a certain amount of real estate prelicensing education and pass an exam. Take your prelicensing education, and pass the exam as soon as you can to avoid any delays in getting your business up and running.
All new real estate agents will need to work under a brokerage in order to show properties and represent buyers and sellers. Your relationship with the brokerage is a partnership. They give you the support you need to be successful, and you bring in new business. Finding the right brokerage is essential to your success. You want to partner with a brokerage that can offer you a well-known and established reputation along with the support and resources you need to flourish as an agent.
Much of your success in real estate depends on how effective your marketing is. Your marketing should bring in a steady flow of new, prospective clients and retain established ones. Successful real estate agents leverage different marketing channels, such as social media, local radio, online ads, and more.
If your marketing is working well, you’ll see a dramatic boost in leads and opportunities. Many prospective agents don’t realize the amount of marketing involved in the day-to-day operations of a real estate agent. If you have a marketing plan from the beginning, you’ll be one step ahead.
Networking is a big part of your success as a real estate agent. The more people you know, the more opportunities you’ll have to connect with and convert potential clients. To maximize the impact of your networking efforts as a new agent, plot out future networking opportunities, and put them on your calendar.
Seminars for real estate agents, community fairs, and other local events are all prime opportunities to stretch your networking skills. Regularly attending local events will make your business top of mind when community members are looking to buy or sell property.
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Now is the perfect time to start a new career as a real estate agent. Get your prelicensing education requirements out of the way, so you can start making your business profitable. Select your state from this list to see your state’s requirements.
Wouldn’t it be great if you could sit down with a room full of successful real estate professionals and ask them for career advice? We asked several accomplished real estate professionals what they wish they knew before they earned their license and started their career, and what they thought all aspiring real estate professionals should know. We put all of their advice into a value-packed eBook.
