This write-up will be the third in a group of six about getting started with a real estate career. This article covers the “tools” you’ll require and also the “tools” that are nice to have to assist you be productive in this career. We’ll briefly discuss developing a spending budget and issues you will want to get began at the same time as items you’ll be able to take into account inside the future.
Developing a Spending budget. Because you are basically starting a organization there will inevitably be some expenditures you will have. The very first ones are of course your exam & licensing fees, too as dues you’ll most likely pay to belong to the local board of Realtor. Because these costs are mandatory we’ll skip talking about them. We’re talking more about the costs that you will incur as a result of doing company on a day to day basis. There are tons of businesses out there wanting to sell you leads, or advertizing opportunities, or “guaranteed” programs of how to acquire 10 listings in your first 60 days of being in enterprise. I wouldn’t think about these products until you’ve been within the business at least one year. The most important thing to ask yourself when you get began is “Do I Want this product or service today?” If the answer is no then, make a note of it and set it aside. Get some experience and deals going on and you’ll realize you don’t require those products at all.
Everyday Tools. The basic items that most real estate agents use every day are:
1. A mobile phone – Most agents have smart phones with internet connectivity so they can get e-mail, view online data, and use applications that assist them provide better faster service to their clientele.
2. Access to a computer – Ideally one with internet and a printer. You need to fill out and print forms online so you’ll be able to create listing and sales documents for your customers. Not to mention all new listings will appear in an online database provided by your MLS(multiple listing service) which you will definitely need to have.
3. Business Cards – The most simple of company marketing materials, but definitely a must have. Get high quality cards which might be professionally designed, not the perforated ones you buy at the local office shop. Those are cheap and it people will subconsciously connect that to you and your service. Most brokerage companies have a relationship with a large printer which provides professional templates at a reasonable price.
4. Lock boxes, yard signs, electronic keys, a reliable vehicle. This list needs no full explanation but to typically cost a fair amount of money so you will need to look carefully and shop around. Ask around the office to see where other agents get their products and how much they pay to acquire an idea of what you’ll need to spend.
Additional Tools. These items you’ll want to consider acquiring eventually if not right away.
1. Professionally branded e-mail address. Many brokerages provide you with an email on their domain, i.e. billsmith@abcrealty.com. This is great, but what happens if you leave ABC Realty. You’ll have to contact everyone you know and give them a new address. The best thing to do is purchase your own domain. Many agents choose their own name which can be a good option. Domains are cheap i.e. $10 annually and you usually get an email address or two for free with it.
2. Your own website. Professionally designed websites can be expensive, so until you have the couple thousand it will take to get a high quality interactive site it is possible to do one of two issues. Your broker may give you a page on their main site, or you’ll be able to get a basic 4-5 page site produced by a free lancer that delivers basic information regarding you and how to get in touch with you. Either is okay to begin with.
3. CRM Tool – This means Customer/Client Relationship Management Tool. Essentially it’s a software program that helps you keep your contacts and activities organized. While they are a fantastic tool they do tend to be expensive and are often a monthly recurring bill. If you are able to afford paying $30 or so a month for the service then I would highly recommend it. There are many real estate specific programs like Top Producer, ACT, etc. Thank you for reading. Please check out our next installment “Getting Started In Real Estate: Where To get Business”.
To get more information about obtaining a real estate license in your state visit our site and get Maine real estate license requirements.
