Episode 6: Tips for new realtors
Episode Summary
Many people think that getting a real estate license is all they need to start practicing real estate. However, there’s a difference between doing real estate and having a real estate business. The licensing course doesn’t teach you how to fill out a real estate purchase contract
1. What are some of the misconceptions about becoming a real estate agent?
Many people think that getting a real estate license is all they need to start practicing real estate. However, there’s a difference between doing real estate and having a real estate business. The licensing course doesn’t teach you how to fill out a real estate purchase contract, negotiate, or run a business. Also, many people think they can do real estate part-time, but in my experience, it requires full-time commitment to become an expert.
2. What are the financial considerations for someone looking to become a real estate agent?
There are costs associated with getting your license, which can range from $400 to $700. Additionally, you’ll need to join a board, which can cost around $1500. There are also scholarships available for some people.
3. Why is it important to have a mentor when starting out in real estate?
Having a mentor is crucial because learning real estate is a process that happens over time. A good mentor can guide you through this process and provide valuable insights from their own experience.
4. What are some of the challenges a new real estate agent might face?
New agents often have to explain their value to clients and justify their fees. This can be difficult without experience. Also, the real estate industry is changing, with new regulations and settlements affecting how agents operate.
5. What is the importance of having a ‘servant heart’ in real estate?
Having a servant heart means putting your clients’ needs first. If you’re in real estate just to make money, you’re likely not going to succeed. You need to be committed to serving your clients and doing what’s best for them.
6. What is the commitment level required to succeed in real estate?
Real estate requires a high level of commitment. At times, you may find yourself working 80-hour weeks, including weekends. It’s not a job you can do part-time if you want to be an expert and provide the best service to your clients.
Want more Utah real estate insights? Explore additional episodes and connect with Heather Groom for personalized guidance.