Welcome to an exciting, challenging, and rewarding first year in the world of real estate. The journey ahead will be a blend of exhilarating moments, daunting challenges, and rich learning experiences.

Picture your real estate career’s onset like an airplane preparing for takeoff. It demands a substantial amount of energy, endures turbulence, and requires constant throttle to avoid a crash.

Understanding Your Role: The Multifaceted Job of a Real Estate Agent

While it’s tricky to offer one-size-fits-all advice, every real estate agent must navigate a variety of roles. From meeting clients, drafting contracts, learning market trends, and advertising, to bookkeeping, design work, scheduling, and more, the responsibilities are diverse.

Focus on these five crucial areas in your role as an agent: identifying potential clients, following up with contacts, showing homes, writing contracts, and rehearsing these tasks with friends or other agents.

Mastering the Essentials: Administrative Duties and Balance

As a new agent, you’ll need to familiarize yourself with various systems like your local association, your local MLS, and your brokerage. And yes, you’ll have to manage a lot of passwords. Though it might feel overwhelming initially, rest assured, it becomes easier with time.

Avoid concentrating on a single task. A balanced approach towards the five main areas of your job will facilitate a smoother first year. Maintain equilibrium between finding new clients, understanding contracts, and enhancing your knowledge without waiting to know it all before making your first move.

Managing Deals: Systems and Steady Progress

Your first deal might feel like a precious newborn that occupies your thoughts constantly. Don’t let the exhilaration disrupt your productivity or limit your client reach. Adopt the tortoise’s pace instead of the hare’s rush.

As you gradually manage multiple deals simultaneously, you’ll realize the power of systems. Properly structured systems can solve most challenges.

Cultivating Cooperation: The Real Estate Community

Contrary to what many new agents believe, your real estate journey isn’t about competing against fellow agents. Strive to build a reputation of trust and collaboration. Remember, your goal is to close deals, not to feed your ego.

Embrace Continuous Learning: Stay Humble and Seek Guidance

At some point, you may feel you’ve mastered it all. However, remember the wise words of Michelangelo, “I’m still learning.” Each deal is unique, so don’t hesitate to ask for help or have an experienced agent review your offers or responses.

No advice can fully prepare you for your first year. It’s a unique journey filled with personal learning and growth experiences. Soak it all in, earn along the way, and most importantly, enjoy the ride.

Good luck!

You might want to check out Having a Consistent Real Estate Career

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Why Join a Team?

Most people starting in real estate could benefit from joining a team. As a beginner, you’ll need to learn many things. Real estate involves a lot of subtleties that can be tough to grasp on your own. By joining a team, you can learn from experienced colleagues, which can be incredibly beneficial for your development.

Learning Like a Baby

Just like a baby learning to walk, starting in real estate can involve a lot of stumbling and falling. The real estate world can be harsh, and many ambitious new agents find this out the hard way.

Starting as an Assistant

One great way to enter the field is by working as an assistant. You can gain valuable experience by doing comparative market analysis and handling paperwork. This foundation can help when you decide to strike out on your own.

The Importance of Savings

Having savings is crucial when starting a career in real estate, whether you join a team or go solo. The beginning can be tough and some agents can go months without closing a deal. Having a financial safety net is crucial for success.

Drop the Ego

When choosing between a team or going solo, remember to leave your ego at the door. An inflated ego can do more harm than good in this business.

Picking the Right Team

Choosing the right team is just as important as choosing the right brokerage. It’s crucial to understand the team’s culture and see if it aligns with your goals. Be careful though, not all teams live up to their promises.

Don’t Just Look at the Splits

While commission splits are important, they shouldn’t be your only focus. You should also consider the team’s growth and development opportunities.

The Benefits of a Team

Joining a team can offer many advantages. You’ll be able to focus on your strengths, gain experience quickly, and enjoy the support of your colleagues. Plus, you’ll have backup in case you’re unable to work or need to take a vacation.

The Solo Route

On the flip side, you might be someone who thrives on independence. If you’re a natural leader, a quick learner, and good at balancing various tasks, you might prefer to go solo. However, keep in mind that starting solo can be tough. It requires a lot of determination and a good understanding of the business.

Listen to Your Experience, Not Your Ego

Don’t let your ego decide whether you should go solo or join a team. Remember, if you’re new, there’s a lot you don’t know. As you gain experience and build up your financial resources, you might find that going solo is the right choice for you. The best part about real estate is that you can change your path at any time.

A bonus article on picking a real estate team.

Have you picked your brokerage yet? Here’s our thoughts on that.

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Remember: You’re in Control

It’s important to remember that you’re not the one being interviewed – it’s the other way around. The brokerage you choose can either propel you towards success or hold you back. So, choose wisely!

The Big Company vs. Small Company Debate

Joining a larger company can provide ample opportunities. You could meet potential mentors and even receive referrals. However, there’s also the risk of getting lost in the crowd. For newcomers, I recommend joining a big company for the exposure it provides. But if you’re experienced, the world’s your oyster.

Smaller companies might not have the same number of agents, but they can offer more personalized attention and easier access to the Principal Broker.

In the end, your choice between a large or small company should be based on the Principal Broker, the training provided, and the systems in place. The right environment can spell success for any agent.

Questions to Ask When Choosing a Brokerage

When interviewing potential brokerages, here are some key questions to ask:

1. What training do you offer? Can I observe a training session before joining?
2. What kind of support will you provide?
3. How accessible is the Principal Broker?
4. If I have a critical question at 9:30 pm, who do I contact?
5. What’s the Principal Broker’s background?
6. Do you provide leads? (Remember, all leads aren’t created equal and this shouldn’t be your main criteria. Quality leads are worth their weight in gold. )
7. How will you help me achieve my goals?
8. What unique opportunities do you offer?
9. Do you provide mentors or coaches?
10. What systems are in place to support agents?
11. What marketing support do you provide?

Understanding the Financial Aspects

Ensure you understand all the financial aspects such as desk fee, cap limits, commission splits, franchise fees, royalty fees, monthly fees, tech fees, profit share, revenue share, stocks, other income opportunities, and Errors and Omissions Insurance.

Know Your Expectations

Understanding what the brokerage expects from you is crucial. Do they want all agents to follow the same lead generation methods, or do they cater to individual preferences? Do they have a Company Manual that you can review?

Remember, it’s completely normal to hold a second interview with your top choices. Be sure to ask all necessary questions to make an informed decision.

n and what the brokerages or recruiters tell you. A second interview with the finalists is completely normal. 

You’ve picked your brokerage, now it’s time to think about being a solo agent or joining a team.

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