One of the first and most important decisions most people make when selling a house is selecting a real estate agent. The real estate agent is the sellers’
How should I begin to learn real estate?
It really depends on which capacity you want to work in real estate as.
If you want to work as an agent, then the first step would be to study the books required to clear your real estate exam and get your licence. These will give you basic guidelines on how to operate as an agent, rules and regulations for real estate processes in your country, and how to do business. However, keep in mind that this does not ‘guarantee’ success in real estate. Every agent in the market has gone through the same process and it’s the bare minimum you have to do to work in real estate.
I would say the first thing you need to know as an agent is that you have to get ‘specific’. Real estate is a very broad industry with a lot of niches in it, you have to pick one and learn about it because you can’t learn about all of them or work in all of them at once. That’s why its important to pick a niche that you are passionate about, that you think you would enjoy working in.
For example, here are some of the niches segmented by client demographics that you can specialize in:
- Home Buyers
- First Time Home Buyers
- Home Sellers
- Senior Citizens
Then there are different type of properties you can specialize in, for example:
- Luxury Properties
- Vacation & Second Homes
- Green Housing
It’s a whole different ball-game when it comes to investment side of real estate. If you want to work as an investor or an agent helping investors, then you can specialize in:
- Income Properties or Rental Properties
- Property Management
- Home Flipping
If you want to specialize in a niche, take a look at online designations offered by Global Real Estate Licence:
Besides all this, you can also think of becoming a real estate staging expert, helping other agents and sellers by strategically improving the house appeal so it gets sold quickly and for more money.
You see, there is a lot more to real estate than what meets the eye and that’s why you need to decide which ‘niche’ you want to specialize in because that will give you an edge over your competition.
Now, the best thing you can do is ‘read up’ as much as you can before you jump into real estate. You should learn from mistake other agents made when they started their career and avoid them. If you already have a job, then you might want to work as an assistant for a real estate agent so you can get some experience.
You can also learn what are some of the things you need to have in place to attract more business, for example a good website, social media accounts, flyers and postcards, other marketing collateral and of course a CRM to manage your leads and follow up with them.
Here are some resources which can help you get started:
Here are some books you should read:
- Your First Year in Real Estate: Making the Transition from Total Novice to Successful Professional
by Dirk Zeller
- The Millionaire Real Estate Agent: It’s Not About the Money…It’s About Being the Best You Can Be!
by Gary Keller, Dave Jenks and Jay Papasan
- Purple Cow: Transform Your Business by Being Remarkable
by Seth Godin
- Ninja Selling: Subtle Skills. Big Results.
by Larry Kendall
All that being said, real estate is an extremely lucrative industry to work in. However, it’s not a get rich scheme and just like any other industry you will have to put in hard work to make it work.
I hope this helped! Good luck in your venture!