How To Get Started In Real Estate Today

How To Get Started In Real Estate Today

by J.Donnovan

There is no denying that a career in real estate is rewarding, fast paced and exciting. The sad thing is that a lot of potential real estate agents are having doubts due to all of the talk about the economy driving down the housing market, but let me say that you should not let that get in the way of your dreams. Don't tell anyone but the housing market and real estate industry in general is still alive and thriving just as much as ever. The dropping property prices are bringing in the smart buyers looking to save a bundle of money on their new home or sound investment and you can be the agent waiting to take that commission.
In fact, the decline in new agents entering the field due to concerns of market stability is actually benefiting those of us willing to jump in head first, by lowering our sheer number of competitors. With less agents taking the first steps to success you will be able to make huge strides in securing new listings and making sales on current ones. Though your marketing efforts may need to be adjusted to accommodate a smaller budget during these tough times.

Marketing Your Real Estate Business on a Budget

Don't let a small budget kill your real estate career. Instead, take advantage of this opportunity to find more creative and cost effective methods of advertising. Avoid the big expenses like television, print and radio campaigns to get your name out there. Move your efforts to the Internet for attracting new clients and other creative ways. Below is a list of great, low cost advertising ideas to get you started:

Start your own real estate blog or website

Advertise on other real estate agents websites. The cost is significantly less than other advertising campaigns

Take advantage of social networking and user generated content sites for free marketing

Connect with potential clients on real estate forums and message boards

Market yourself to the local area via classified sites like Craigslist

Place your current listings on eBay

Those are only a few of the ideas that you can begin implementing today. Imagine how many more opportunities are out there if you just put your mind to it, think creative. Sit down with a pen and paper and write out all of the places both online and off, that you would be able to find new clients, where would they be or what would they be doing and then make it a point to be at those places. You would be reeling new clients in like they were going out of style and laughing all the way to the bank.

Out of Pocket Expenses You Should Expect

In all honesty, getting started in the real estate business can be expensive, but it really depends on the state you are in. Every state has different costs requirements for schooling and licensing. Realtors spend anywhere from five hundred to five thousand dollars just on licensing and furthering their education, but think of it as an investment in your future. You can recoup your costs and turn a profit from your first sale alone, that's why this is such a lucrative business.

To find out how much getting started will cost you, visit your States Real Estate Commission Board website and see what they charge for licensing. Make sure to read their requirements very thoroughly to determine what type of schooling you will need or if there any other things you will need to pay for before you can become licensed.

Once you have all of that information, create an outline of all costs and be sure that it fits within your budget. The last thing you want is to overspend and cause problems for yourself or family. Most people entering the real estate business plan to have enough money to survive for between four and six months without a paycheck. This will usually allow plenty of time to get out there and make a sale.