Residential Real EstateEducation Alone Does Not Equal Success
Knowledge is power, especially in sales, but it is not the gold ticket to the top. "Education alone does not necessarily equal [real estate sales] success, [but ensures that] agents are more informative people to work with," Bobby Potts, GRI, NC licensed Broker, Realtor® says.
True, a certain amount of education is necessary to obtain licensure, but Potts explains that a well-educated agent could simply lack the people skills necessary to succeed in the industry. Potts has been in the real estate sales industry for 18 years. He has owned and operated Asheville, NC based Country Classic Real Estate Inc., which staffs seven agents, for two years. He also serves as the Real Estate Program Coordinator at Asheville-Buncombe Technical Community College, Asheville NC and has nearly five years of real estate teaching experience under his belt.
There are many qualities that be perceived weaknesses, but few that will disqualify the determined beginner. Potts explains that real estate sales can work for anyone, even the shy natured. Reflecting back on his career start in real estate he explains, "I was more of an introvert", but "real estate sales can open a person up." Even with the right determination, there are some common sense rules that can help new agents during their first days on the job.
"New agents need to listen more. They like to talk more than they like to listen. We were given two ears and one mouth for a reason," Potts argues. Make sure to listen to what people are saying they want and, sometimes more importantly, what they do not want. When dealing with people, Potts reminds us, "that in addition to being salesman, agents are counselors guiding folks [in the decision process that leads to] the biggest investment that most people will ever make." Developing solid skills in personal relations is a key to success in this line of work.
Also remember, "You can not sit at the office nine to five and expect business to come to you, you have to market yourself. When people think of real estate they should think of you, [even if it takes] going door to door to hand out pumpkins during the [fall] holidays with your business card attached. Outside of becoming better with your people skills, there are some technical matters to analyze.
Potts suggests that agents begin full-time, if possible. A part-time start will prove difficult and only "prolong success." New full time agents will be making a realistic goal in expecting to make around $25,000 (data specific to N.C.) for their first year on the job if they really work hard; depending on market and location. By the third year agents should be beginning to break into the industry and can expect to adjust income goals accordingly. Potts" financial advice comes with a fair warning that most agents have trouble grasping: "Make sure to have about six to nine months of living expenses saved, depending on your lifestyle, so that you can focus on real estate full time. It will make life easier."
Jonathan Poston is a writer based in Asheville, NC covering business local and national business news. Contact him at mindlynxx@hotmail.com