Have you ever thought about getting into real estate?
I know that sales sounds scary or intimidating to a lot of people. Trust me, I would have said the same thing a few years ago. But the cool thing about real estate (and honestly, sales in general) is that you don’t actually have to do any of the gross salesy stuff you hate. And when you really believe in what you’re selling (i.e. great houses to great people!) it’s not hard to see yourself as a knowledgeable resource helping others get what they want. And even better, when you work for a commission, you get to learn the value of your efforts. Doing a great job gets you paid and gets your clients the house of their dreams. It’s a win/win.
Real estate changed my life. I learned that I was the boss of my time, my life, my money, and my decisions. And if I didn’t like something that was going on, I had the power to change it. I have learned that helping others get what they want, and giving them a great experience along the way, is the best way to build a business that keeps growing. You can learn more about my story here.
One of my big goals for Brick & Banister Real Estate Co. agents is to learn how to take life into their own hands. Be the best and most amazing person they can be, to learn and grow everyday, and be able to create an amazing life for themselves and their families. By working together, our agents can learn from each other’s experiences and avoid many of the pitfalls that we see in this industry (quick turnover, getting licensed and never selling anything, etc).
“I love working with Brick and Banister! I started as an agent at Brick and Banister in Fall 2017—when I first got my license, I was concerned that I would have a difficult time finding leads and closing sales. Within my first 6 months, I closed 6 deals! I couldn’t have done it without the active support of our awesome broker Amy and other supportive agents. I have really enjoyed being a part of a grass-roots group that is flexible and able to keep up with the rapidly changing real estate landscape. If you are looking to be part of a creative, enthusiastic group of people committed to doing great work, Brick & Banister is the spot for you.”
–Kate Jensen, Brick & Banister Real Estate Co. Agent
Here are the most common reasons people don’t jump:
“I’m afraid to not have ‘job security’ or a regular paycheck.” I get that, but what you’re missing is the potential to earn more than you ever could on your hourly job, all while freeing up some time and gaining control of your schedule! The better you get at this work, the more successful you’ll be. Plus, no one is pushing you to quit your job right away. You can certainly transition as your schedule allows and your confidence builds.
“I’m not good at sales.” That’s ok. You can learn sales. Here are some more important assets to getting started: are you friendly? Do people like you? Do you like houses? Can you commit to doing at least a little real estate everyday? Are you resourceful and able to work without direction once you understand a task? These are the more important qualities. =)
“I’m not a “look at me!” person.” That’s ok, not everyone is a “look at me” client. There are buyers and sellers for all different personalities. Think about who your favorite people to hang out with are, they will be your favorite client-types.
The process of getting licensed isn’t too complex (thus, there are tons of agents who don’t do much actual selling, or as they tell you in realtor school, “20% of the agents do 80% of the deals”), so you shouldn’t be too worried about this part.
So, here’s what to expect:
- Prelicense education and exam. You can take your classes online or in person. There are a lot of places that offer them, we love Kaplan. I highly recommend taking the first class in person, even if you plan to take the rest online. This is about $1000 when you’re all said and done (classes + tests)
- Joining the Realtor Association and getting MLS access. The Realtor Associations are basically the gatekeepers to your MLS access and some really great trainings and continuing ed. Quarterly dues are part of the deal. You’re looking at a few hundred dollars to get set up here.
- Learning curve and getting your client base built up. This is the biggest transition for people coming to real estate from a regular 9-5. Your paycheck isn’t guaranteed simply by showing up. You’ve got to put in the effort to learn your market, technologies, meet with people and build up your confidence. This time frame varies from person to person, but most agents have their first closing in the first 1-6 months, with the majority landing somewhere in the 3 month range. Selling 1 house will pay for all of your prelicense expenses.
- Continuing ed. You’ve got to keep that shiny new license by staying up to date with your education every year. Remember, learners are earners ;). This usually runs a few hundred dollars a year.
- Business expenses. Even though agents work for a company, they are all their own little businesses. As such, you’ll need to track your deductible business expenses like mileage, meals, education, etc. A great bookkeeper/accountant is a worthwhile investment once you get busy, but you might be able to get away with a spreadsheet in the beginning.
That’s it! Not too hard. If you’ve made it this far and still want to chat about getting your real estate license and what working for Brick & Banister Real Estate Co. might be like, send me a message.
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Properties are provided courtesy of the Regional MLS of Minnesota, Inc., Broker Reciprocity Database.
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