Confessions of a Real Estate Agent

So You Want to Be a Real Estate Agent?

There's the persistent myth that the real estate business is an instant money-generating, easy treasure trove. Well, it is, but with hard work, patience, and best of luck.

For the newbie in the business, though, real estate can be a thorny, if not downright frustrating venture. It's basically a gamble; profits will come rushing in only after one or two years down the road. After all, you are just establishing yourself and building your name and credentials. Add to this the fact that you're up against more cutthroat veterans.

In the meantime, there's always the temptation to regret the day you traded your regular and stable job at the office for the more unpredictable, often heartbreaking real estate bubble. Times like this, you have to focus on the future benefits, not the present drawbacks.

Lose some, lose some.

As everything changes along with technology, so does real estate. You'll still need your pen and paper of course, but it would be heaps easier if you armed yourself with a PC or a laptop and a fast internet connection. Now, more than ever, information on current real estate trends and marketplace behavior is available, so take advantage of all that. Knowledge is power, so goes the cliché.

Real estate is all about making connections. Not necessarily the right connections; any connection is good and will come in handy in the future. Any tip, juicy scoops, or new finds in the business is always appreciated, and that’s what connections are for. The point is, in the real estate business, people skills is a virtue always worth honing.

Win some, lose some.

Partnering with someone is a good way to get started especially if you don't have enough money to lay on the table. Your partner will be the one to worry about the finances, while you do the legwork (scouting properties, looking for buyers, touring them around, etc). And then you split the profits between yourselves depending on the agreed percentage. A commission of twenty percent may not exactly be top-notch cash, but what you're really after—since you're just starting—is learning the ropes of the trade.