Posted In: Real Estate
1. Basic Checklist for Becoming a Real Estate Agent
This article prepares you for the others to follow. Here you’ll learn the major points to consider in becoming a real estate agent and starting your business in the right way. Keeping these tips in mind will help you to use the others that follow to set up a plan that you can follow, but even more important, believe in. A realistic start and plan will give you the confidence to go out and make it happen.
2. Reasons for Failure After Becoming a Real Estate Agent
Knowing why others have failed, and a large percentage do, will be an important factor in keeping your new real estate business plan on track. Most successful people in any business will tell you that they are successful not only because they studied ways to be successful, but that they also studied the failure of others in order to avoid the same mistakes.
3. It’s a Business – Know Your Expenses Before Becoming a Real Estate Agent
How much are your personal expenses? You need to know, as they go on while you’re trying to kick off your new real estate career. Becoming a real estate agent doesn’t stop the rent, food, clothing and other expenses. Here’s some help in making sure you have a handle on those expenses and a plan to make sure that they’re paid while still allowing you to devote time and budget to your new business. There’s even a spreadsheet at the link that you can download to estimate your personal and business expenses.
4. Planning Income With a “Sales Funnel” Approach
Becoming a real estate agent requires that you know your present and future expenses, both personal and business. However, that’s just half the puzzle. What about your income? Sure, it’s sales, and who knows how well you’ll do at first, or how many deals you can get done in your first couple of years? You can develop an income budget just like an expense budget, and you’ll get a spreadsheet and a step by step process to come up with a realistic estimate of what you can expect for income the first year or so.
5. Develop a Marketing Budget When Becoming a Real Estate Agent
Now that you’ve gone through the steps for estimating expenses and income, you can develop a budget for your marketing efforts. You probably thought about this in the income funnel approach, as the number of leads you’ll get from direct mail will be based on the number of mailers. So, you know how many you want to mail, and can determine that expense budget item as well as others in this article.
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