How to Start Your Career in Real Estate?

Sunny10 on 01/04/2023 - 23:56

Hello Members.

Hope you are well.

I am after a life saving advice here.

I did my Property Manager and Sales Representative course 2 years ago. But as I had a full time Job I decided to continue with that and didn't try to find any Job in the real estate industry. But for a month I am doing an effort to find a job. I applied with so many big guns but with no experience and a CV had only APS experience, all the applications were rejected.

Luckily, I approached a real estate agent who runs a small estate and was ready to take me on his team as a sub-contractor on a commission basis. Of course, I am happy with that and have signed a contract initially for 3 months. But he is telling me to do my own marketing and promotions to find a seller and he will help me with listing and other important stuff.

As I am new, I am trying too hard to get my first listing. I have started marketing on FB and Instagram but as this real estate market is big and so many experienced agents are there, I just don't know how and where to start. It is too early to expect some miracle, but I know it happens so need some valuable advice as to what type of marketing strategies should i use.

I know once I get my first listing, it will then open more doors for me but I am in need of the right strategy or advice from anyone who is in the real estate industry.

Very Thankful to you

Education & Work Real Estate

Comments

  • bobbified on 02/04/2023 - 00:08
    +11

    But he is telling me to do my own marketing and promotions to find a seller and he will help me with listing and other important stuff.

    So he wants you to do your own work and then give a chunk of the commission you receive to him? lol

    • [Deactivated] on 02/04/2023 - 01:28
      +1

      You're welcome to try to find someone willing to do it for free.

      • bobbified on 02/04/2023 - 01:35
        +2

        Do what for free? Tell OP to go do his own work and be happy to take a cut of the commission when the time comes? I'm sure I can find more than a few people to do that!

        • [Deactivated] on 02/04/2023 - 05:15

          It's a little more complicated than that, but sure, if you can find one, like I said, you're welcome to try. You don't have to accept the first offer you find.

          • deme on 02/04/2023 - 08:47
            +1

            @[Deactivated]:

            he will help me with listing and other important stuff.

            What stuff?

            But he is telling me to do my own marketing and promotions to find a seller and he will help me with listing and other important stuff.

            Wait what is he even doing?

            • [Deactivated] on 02/04/2023 - 09:42

              @deme: Just paperwork. Wasting time. If you think REAs sit around looking for people to donate their time to out of the goodness of their hearts, then we know very different REAs.

              • deme on 02/04/2023 - 10:15

                @[Deactivated]: Why are you paying him then?

                • [Deactivated] on 02/04/2023 - 10:21

                  @deme: Are you asking why an unlicensed potential REA is sharing their commission with a licensed REA? The answer is that it is required by law to work under said licensed REA.

                  A better question would be, why are we paying commissions in the first place, since all they do is list the property online, while the conveyancers do all the real work.

                  • plmko on 02/04/2023 - 14:53

                    @[Deactivated]: The real service of a REA is do all the dodgy work and gives the seller plausible deniability in any involvement of fake bidding, fake hype, fake silent auctions and also access to their ready to go list of people who've expressed interest in a house of a certain spec.

                    Notice how the news is always the agent getting slammed for sham pricing but never on the seller accepting the profiteering that comes with it.

                    It's kind of like how CEOs claim they had no knowledge of mid-level bankers committing money laundering and thug tactics. They are not involved in the day to day processes but accept a slap of the wrist fine which is already baked into their fees as cost of business as usual.

                    So you see there is value in paying an agent to play some game theory.

  • Sunny10 on 02/04/2023 - 00:25

    I am unable to do any work by my own. Condition of the licence is to work under an agent

    • AustriaBargain on 02/04/2023 - 02:04

      Just one agent? Is freelance work a thing in the RE world?

      • Hardlyworkin on 02/04/2023 - 08:09

        Not that common though the RE is offering work as a contractor as it is unlawful for someone with no experience to work commission as an employee. The safety net is that they need to have shown they can earn more than the minimum wage in a recent 12 month period.

        OP; hope you agreed to terms more generous that those of an employee, higher commission to make up for no paid leave and super?

        RE is a tough business when conditions aren't right….blike at the moment. I hope you still have that APS job to fall back on.

  • Italkdigital on 02/04/2023 - 00:30

    Havjng customers service jobs on your CV im sure would help as sales is dealing with people

  • garetz on 02/04/2023 - 00:34
    +3

    The best way to start in real estate is to already know people who are selling and would be willing to have you list their properties. Once you get a few sales under your belt then you can becomes less desperate and more comfortable. Real estate selling is all about networking, with both sellers and buyers.

    If you join an already established agency they want you to bring in business for them, they will benefit much more than you will. Once you have proven yourself if their plate is full they might throw clients your way. Either way if you fail it doesnt cost them anything as payments will be on a contingency based sales system. If you sell nothing it costs them nothing, but if you sell something they will take the lions share of the commission.

    You are much better off joining a strata organisation to manage properties and build a contacts list. Being a junior sales rep in real estate can be brutal, you might not make money for the first 24 months.

  • MS Paint on 02/04/2023 - 00:35
    +7

    Step 1 - purchase and drive a high yield investment vehicle

    Step 2 - profit

    • payless69 on 02/04/2023 - 08:40

      Use this Bimmer to do Uber, still gets you $4 an hour for real fun.
      Use the middle finger when you see agents t tell them you have more fun…..

    • Gunnar on 02/04/2023 - 08:46
      +1

      correct but you also need a cheap, ill-fitting blue suit (preferably striped) that screams “I’m a real estate agent” without you having to open your mouth

  • Jimothy Wongingtons on 02/04/2023 - 00:38

    Okay.. just going to put it out there that if you think this is your ticket to get rich quick, is ain’t the go.

    Other than having a cert, why real estate/ property manager? The market is already over flowing with eager, qualified people wanting to make their big break during the initial property boom era which has since cooled off a fair bit.

    All I am say if if you want to make it work you’re going to need a crazy amount.l of over time, never take no for an answer, and hopefully find a niche to make your life easier (eg speaking multiple languages is a hugeeee bonus).

    • Gunnar on 02/04/2023 - 08:48

      You forgot the most important part of being a REA: telling the truth and the truth

  • trustnoone on 02/04/2023 - 01:00

    Do you need the money now or are you looking for experience? I don't much of the field but my understanding is as starting out the licence means you need to be under an agent for a certain period of time. Most people do this in bigger agencies by getting paid really small and helping out the main agent as they get the main commission.
    Then a little while in, you can start going on your own with that experience with you. Where you can either join a current agency, or start your own.

  • miwahni on 02/04/2023 - 01:38
    +1

    Pre-internet it was door to door slog in order to find listings, or elevate profile in the community at least. So pick a day, make sure you have plenty of brochures/flyers, and hit the streets. Knock on as many doors as you possibly can, talk to as many home owners as you can.
    Otherwise leverage as many community connections as you can - church / sporting / community groups that you may be part of. Getting started with listings is the hardest part. Good luck!

  • lostgoat on 02/04/2023 - 08:17
    +1

    Isn't it well know that people looking for real estate normally go to the big 2 sites . The guy that takes those calls will obviously have the great sales .
    Outside of that GL trying to find the needle in the haystack.

  • deme on 02/04/2023 - 08:49

    Here is a free step by step guide: https://www.youtube.com/watch?v=BDWyt92vrTY

  • payless69 on 02/04/2023 - 08:52

    Yesterday: Buyers and sellers pay huge agent fees!
    Today: Hey ChatGPT how do I rip off an agent?

  • Sinnerator on 02/04/2023 - 10:46
    +5

    Just walk around being a Lazy Excuse Making Arrogant Lying K#nt to everyone and if it feels right then you are a shoe in.

  • Ryanek on 02/04/2023 - 13:34
    +1

    Being a vampire or the some kind of Lord of the dark will put you in a good position to start a career in real estate.

  • spackbace on 02/04/2023 - 15:52
    +2

    Maybe, just maybe, this isn't the career for you…

  • ihbh on 02/04/2023 - 16:35

    What system do you use?

    • bobbified on 02/04/2023 - 17:05
      +1

      Playstation 5

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