New Study Reveals Over Half of New Realtors Made Less than $10K in 2018

Real estate has become a lucrative career option for individuals who crave independence and the opportunity to help others buy homes or invest in properties. But you must have access to the right information and team of individuals in order to capitalize on the rewards of being a real estate professional. According to the NAR 2019 Member Profile, 54% of members who have two years or less experience made less than $10,000 in 2018. How can you stand out and beat the odds as a new real estate agent? You have to be willing to surround yourself with successful people and attend conferences that educate you on ways to become successful in your industry.

The National Association of Realtors (NAR) held its annual conference in San Francisco from Nov. 8–11, 2019. Thousands of real estate professionals from all over the world convened to learn how to grow their businesses and better serve their clients.

If you missed the conference, here are some tips to help you jump-start your career in real estate and achieve success:

Find Your Niche

Do you want to specialize in residential or commercial real estate? Are you interested in becoming a buyer’s agent or listing agent? Do you plan to become a 1031 exchange expert to grow your business? These are a few questions you should explore when considering a career in real estate. As you figure out what path you want to pursue, the most important decision you can make is to equip yourself with the right knowledge needed to make you a go-to expert in your niche.  

Related: Successful Real Estate Investor Mark Whitten Is Building Wealth and Community

Know the Market

Find out what you can do in the market to help your clients. What problems are you solving? How is the real estate market in your area? What factors will impact market conditions in your area? “Know your market inside and out and what’s happening on a global scale,” says Shannon King, a featured panelist on the NAR Talks with Top Producers panel.

Develop Your Online Persona

“A website creates a lot of efficiencies. People can get to know you through your website,” says Raziel Ungar, a realtor with Compass. “The website becomes an educational opportunity.”

Having a website that displays your area of expertise and interests is important when you are aiming to become a brand beyond your company.  “We own our website and content,” says Shay Hata, a residential realtor in Chicago. “Our clients can find us wherever we go.”

People work with people they like. Make sure your brand tells the story of who you are and what matters most to you. “Your brand is the community you build and your values,” says Maura Neill, a second-generation realtor in Georgia.

Leverage the Power of Technology

Technology is evolving every day and you need to stay on top of the latest trends in order to avoid being left behind.

Every real estate agent has to think about a customer relationship management (CRM) system. Any system you subscribe to should assist you in generating leads, capturing a percentage of your ad viewers, nurturing prospects, and managing the deal until your clients close.

As a real estate agent, you automatically become an entrepreneur and you have to think and act like one. Using online tools like LivePlan will help you create a living business plan that can track your successes and help you quickly identify areas of business growth.

Become a Top Producer

If you want to become a top-performing real estate agent, you have to understand that you can’t do it alone. An all-star team will help you bring your vision to life and deliver the highest quality.

Find a videographer or branding expert who can bring your message to the market. Hire an assistant to help you keep track of your day-to-day operations.

You also have to be intentional about allocating time to making your goals a reality. “Social media and technology is part of my business plan and it’s on my schedule,” says Marki Lemons Ryhal, a best-selling author and nationally recognized REALTOR educator. “I devote one hour each day for lead generation. I also create video content every single day.”

The fastest way to achieve success in any industry is to associate with others who are doing what you aspire to do. Check out next year’s conference if you’re ready to take your real estate game to new levels!