There are several steps to becoming a licensed real estate broker. These include courses, exams, and work experience. You can still work in the industry without the need for a license, though. If you know a property owner and an interested buyer, you can connect both and get a predetermined commission for doing so.
Yet, having a license will give you many more job possibilities. Aside from legally being able to set a firm of your own if you have enough financial resources, a license will get your foot in the door in many high-end real estate companies as well as boost your credibility.
Once you have it, there are usually two options you could look into. The first one is to be an independent broker, a freelancer. In this case, you work for yourself on your own time. You find potential clients and connect them to property owners, be it individuals or large corporations. A second alternative, better for those starting, is to join a reputable real estate firm. By doing so, you will not only have access to more projects, but also you will be working with professionals, experts in the field who will help you enhance your career.
The key is finding the right company. To do this, you should first make sure the firm has the requisite construction sites and a culture of responsibility and trust.
Adequate Construction Sites
The best way to know whether a construction site is suitable or not is by visiting it. Some sites grant free access to licensed brokers. Others don’t. If the one you are interested in doesn’t, set an appointment. Most firms will oblige. When you are there, pay attention to how the site is run. Things to look at include:
- Were you given a helmet? Providing visitors with helmets is the first thing a construction site manager will do.
- Are all workers well protected? Aside from the aforementioned helmets, are they wearing construction-appropriate safety gloves, clothing, and footwear? Do they have safety equipment?
- Are there separate rest areas for workers? Is there a safe place where they can eat?
- Are there clear hazardous area signs? Is the company aware of these and other best practices?
By being mindful of these factors, you will know if it’s worth working for this organization. If even these basic requirements are not met, it makes you wonder what other violations the company might be engaging in.
Responsibility and Trust
There are different ways in which real estate companies pay agents. Some agents might get commissions based on predetermined sales quotas. Others will do so on a property by property basis. A third group might use a combination of both.
The important thing is not the commission scheme itself but rather how clear it is. If a real estate or property management enterprise cannot explain exactly how commissions are earned, pack your bags, and go somewhere else. If they cannot show you specific percentages and figures in writing and timelines on when you will get your money, it’s a company you definitely shouldn’t trust.
As such, do your research, ask around about the company you are planning to join. Look at its history online and get in touch with former and current employees whenever possible. These measures will guarantee you are working for a reputable organization.
Once you find the right company to work for, learn to manage your expectations. You are entering an industry with high profitability, an industry where some agents have become millionaires in a very short time. However, this is not the case for everybody. Like many people in many other industries, most real estate agents don’t simply get lucky. Selling requires time, patience, strong commitment, and having the right mindset. If you do so, you will give yourself the best chances to succeed.