Young Realtors Guide to Survive

By: Luke Bouman

Real estate can be a very lucrative career, but it takes hard work, perseverance, and a little luck along the way. Many people join the real estate field because of the potential for great wealth and because of the relative ease of getting a license. Little do people know how expensive, frustrating, and stressful this job can be. When getting into this exciting career of real estate, I was warned that 70% of agents are out of the business within a year. I do not know how realistic that statistic is, but it is obvious that there is a high turnover rate in this business. Too much money goes out and not enough money comes in.

I am now well on my way to have a successful career in Real Estate, but it has not been easy. I recently graduated from College with a degree in Business and started my career in real estate at the age of 22. The housing market that I have experienced has been less than forgiving. Many times I have been asked why I started my real estate career at such a poor time, but that has not stopped my drive to be a successful Realtor. So here are my tips for surviving.

First and for most, prepare yourself for what your getting into. This is not a profession for the faint of heart. You must be prepared for the ups and the downs and be able to survive without getting paid for months on end. When getting into this profession I was told that I should have enough money to last for 6 months without being paid. Many of you may be like me and believe that this would not be the case. I figured it would be a couple of months before I started raking in the money, but it was 5 months before I received my first pay check. So let me remind you to have enough money to last for 6 months.

Secondly, find a company that has training. I would not be where I am today without the training my company provided. There is so much to learn in this profession that you need someone to guide you. I am currently on a 12 month mentoring program which is an expense every month, but an expense that I am willing to pay because of its rewards.

My third suggestion would be to have no inhibitions. Get out there and knock on those doors, call expired listings and for sale by owners every day, do presentations at local businesses, make a habit of calling your sphere of influence, talk to your local chamber and ask for their relocation leads. Find ways to get your name out there without spending any money. I spent hours last summer knocking on people's doors, and asking them if they had any plans of moving in the near future. And guess what, some of them did have plans of moving!

Fourth, get a website and work on Search Engine Optimization. It is no secret that buyers are going to the internet to find a home these days, so you better make sure people are getting to your website. I have only had my website for a few months, but it is something that I am improving and will continue to improve because of the internet's potential.

Finally, stay positive! It is too easy in this profession to get down on yourself. You need to remind yourself that things are not always going to go your way, and be willing to say 'next'. Just make sure that you are getting things done that will better yourself in the future. So go out there and do it!

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