You decided to get into real estate or you’re thinking about getting into real estate full-time and want to be a member of an elite team in your area. Are you prepared for what it takes to make it?
Answer these questions with yes or no to find out if you can handle the truth about what it takes to make it in real estate.
- I have all my dues paid in full, and I make sure that I take care of them every year before my broker gets a notification that I am delinquent.
- I frequently attend training at my local board to keep up on contract changes and new regulations.
- I realize that I own my business and that I am responsible for every aspect of growing it.
- I have a written business plan that include how many people I need to talk to every day.
- I have a computer at home that works great, a cell phone, a printer and a laptop for on the go.
- I mostly work from my home — when I am not meeting with clients or networking.
- I consider myself tech-savvy, and I usually Google for the answer first before asking others.
- I am a self-starter, self-motivated person who likes to get things done.
- I am outgoing, and I love to talk to people.
- I know that without networking with others, I have no business.
- I am responsible for all my real estate leads unless I pay for leads from a third party.
- Just like any new business, I need to have a marketing budget and spend wisely.
- I have high expectations of myself that include over $150,000 per year net income or more.
- Real estate isn’t for everyone, 80 percent of people who finish their real estate class drop out within six months, I know that to be one of the top 10 percent that make it, I will need to work and have a plan.
- I expect my broker to be available to me 24/7 because I’m a part of the office.
- I don’t know a lot about computers, but I plan to learn from my broker and real estate team as we go.
- I expect to get leads from the office; that is why I am paying a brokerage fee.
- I got into this business because I knew this was going to be an easy way to make lots of money.
- I want to follow a mentor around for a couple months to learn real estate before I jump in.
- I need to be trained on every aspect of real estate before doing my first transaction.
- I know that the No. 1 thing customers want is a friend first, agent second.
- When I go to a listing presentation, I try to tell them every single reason they should use me.
- I have a car, but it’s not one that I would feel comfortable driving a client in.
- I am a single mom with children and no childcare, but I can just bring them with me.
- It is OK to meet my client in jeans and flip flops; we are only going to see one or two homes.
- When I help people buy, it usually takes about six or seven times out before we write a contract.
- When someone calls me to list their home, I usually grab my generic listing presentation and go.
- I always agree with the seller when walking through their home for the first-time viewing.
- I don’t need a professional headshot; I’m just going to have someone take a quick photo in my every day clothes.
The results
If you went through and answered yes to the first 14 and no to the last 15 questions you are on track to be successful, self-sufficient and be in the top 10 percent of real estate agents worldwide. If not, you have a little work and expectation adjustment to do.
Cheryl Spangler is the principal broker and co-owner of FORBZ Real Estate Group located in Alexandria, Virginia (serving VA, DC, MD). You can follow her on Twitter or Linkedin.