Category Archives: Real Estate

Best Real Estate Continuing Education (CE) Courses

Posted on January 31, 2023 by Real Estate Like a Boss Leave a comment

It’s that time again. Time to renew your real estate license.

While every state has different requirements for Continuing Education (CE) courses, they all serve the same purpose: to keep agents up-to-date on current laws and regulations as well as reinforce ethical standards.

The good news is that CE courses are generally easy and don’t take that much time. Consequently, they also don’t cost that much either, with a typical price range between $100 to $200. While Real Estate Commissions typically have required topics and courses that are mandatory, they also give you flexibility to choose some of your own elective topics as well.

With so many real estate schools popping up, it can be hard to tell what makes them different. They all seem to be saying the same thing and offering the same courses. The truth is that each school has their own strengths, weaknesses, and style of teaching.

We’ve reviewed all the best real estate schools in the industry for continuing education courses and hand-picked the top three schools that will accommodate anyone’s situation. These schools also list the specific CE courses required by your state on their website.

1. The CE Shop

Best School for Knowledge Seekers

The CE Shop is one of the fastest growing real estate schools in the country. While they offer every type of course a real estate school can offer, you know a school particularly excels in continuing education courses when “CE” is in its name. In fact, they have among the widest selection of topics to choose from, so you will most certainly be able to find something that interests you.

The CE Shop built its own custom platform to deliver their courses. It has a simple and clean design, making it easy to use. It is also built to be compatible with all your mobile devices, so you can easily switch between devices if you are studying on the go. While you will be reading online text most of the time, they do incorporate a balanced mix of interactive exercises and video clips to keep you engaged.

The courses at The CE Shop are definitely more challenging than other schools. You get quizzed frequently and from every direction to help you retain the information better. This is done intentionally to help you truly master the material. There are no shortcuts or simply guessing your way through the tests. If you are looking for an easy course to simply satisfy your CE requirements, this is not the program for you. However, if you want to gain as much knowledge as possible to develop your career, then this is definitely the best way to go.

Previous image

Next image

2. McKissock

Best School for Busy People

McKissock is the subsidiary of Colibri Real Estate, the largest online real estate school in the country, that handles all of its continuing education courses. They are a 100% online-only program and cover all 50 states. While they don’t have a huge selection of CE topics to choose from, McKissock is great for people who want to get the courses done quickly and at a good price.

The courses follow the regular online format where you read through the material like an online book. There are multiple-choice tests at the end of each section. You can work on the courses during any time of the day and at your own pace. If you have a full-time job or just a really busy schedule, you will appreciate the flexibility this format brings.

Something unique to McKissock is their annual membership option that includes all CE courses for a single state plus some extra content to sharpen your skills, such as videos, webinars, etc.… If you are licensed in multiple states, they have another option that covers all states, saving you a ton of money. If your state doesn’t require you to do CE every year, then you can just sign up for the membership for one year and cancel. This will give you the best deal.

Previous image

Next image

3. Kaplan

Best School for Video Courses

Kaplan is arguably the most recognized name in the education industry. They have been around for over 80 years and have helped millions of students achieve academic success through their programs. Although real estate is not their main specialty, they do offer courses in a variety of different formats to accommodate anyone’s preferred style of learning.

Here is a list of Kaplan’s course delivery methods that you can choose from:

OnDemand – This is a recorded video course that allows you to watch it at any time and at your own pace. This gives you maximum flexibility with scheduling and strong engagement to keep your focus.
Live Online – This format is a live video course that has a predetermined schedule of set dates and times. You will need a reliable internet connection to connect to the class via Zoom. Since there is a live instructor teaching the class, you get the most amount of engagement possible. However, this format offers the least amount of flexibility when it comes to scheduling.
Online – The Online option is the standard online course format, where you read through the course material on the computer like a book. There are multiple-choice test questions at the end of each section. You get six months to finish the program and can study at any time.
Home Study – If you study better with a physical book, the Home Study option will send you a physical copy of the textbook in the mail. You also get access to a downloadable PDF of the course material, and the only time you need to go online is to complete the test questions at the end of the sections.

Previous image

Next image

TOP-RATED 3 Online Real Estate Schools in North Carolina for 2023

Posted on January 19, 2023 by Real Estate Like a Boss

Becoming a real estate agent in North Carolina just got a whole lot easier. The North Carolina Real Estate Commission (NCREA), which overseas all laws, regulations, and licensing for the state of North Carolina, recently allowed people to satisfy the education requirements through online courses.

It used to be the case that you had to complete the 75 hours of pre-licensing education inside of a physical classroom. Now, you are given the flexibility to take the course online if you want. You will still be required to log 75 hours through your online studies if you study from home, but now, you can study any time and at your own pace.

Most other states have already been allowing online courses to get a real estate license, and there’s actually a lot of schools out there to choose from. Of course, they are all going to claim that they have the greatest courses and give you reasons why you should enroll with them. So, finding a good real estate school becomes another story.

We have cut through the noise and found the best schools that will help you obtain a real estate license for you. Here is a list of the top three real estate schools for launching your real estate career in North Carolina.

1. Aceable

Best School for Busy People

Aceable is one of the fastest growing real estate schools in the country. They have a unique perspective when it comes to education in that learning doesn’t have to be boring. They have done away with the old ways of simply memorizing definitions and making students feel like they are just a number receiving a mass-produced course.

Instead, the course material has been written in a style that feels like one of your friends is coaching you through the lesson. In other words, you feel like they actually care about you. This personable approach means that explanations are clear and relatable. Studying becomes an enjoyable activity, and you will probably even catch yourself laughing out loud at one of their jokes. And since people tend to remember things they like, you end up retaining the material better.

Aceable rounds out their content by complementing it with features that elevate the user experience. They are one of the few schools that provide an audio version of the course, so you can listen to it while driving in your car or taking the dog out for a walk. The platform is mobile friendly, so you can seamlessly switch between your internet-connected devices. They incorporate a balanced mix of interactive exercises, fun animations, and video clips throughout the course to keep you focused.

Another feature unique to Aceable that makes it stand out from other schools are their Premium Study Aids. They include over 70 video and audio lessons that specifically target the most important topics you need to know. If you already have a full-time job or simply a busy schedule, this will save you a great deal of time by curating the most relevant topics for you and keeping you away from areas that aren’t really that important.

2. Superior School of Real Estate

Best School for Live Classes

Founded in 2005, Superior School of Real Estate has been the top choice in North Carolina for getting a real estate license. They have physical campuses located throughout the state and are dedicated to making the real estate education experience come to life through energetic, engaging staff. Not only are their instructors actively engaged within the communities, but many of them are also active brokers themselves. If you want to feel motivated and pumped every time you attend class, this is the program for you.

However, as with any live class, there is a basic requirement that you show up to class on time and on schedule. While Superior has a variety of different time slots and schedules available that should accommodate anyone’s schedule, you may want to take some time to check the current schedule of available classes on their website.

For example, there are only going to be classes offered in Greensboro, Cornelius, Raleigh, Charlotte, and Winston-Salem in the upcoming schedule. There are classes that run Monday through Wednesday every week, Thursday through Friday every week, weekends only, and more. There are morning sessions, night sessions and all-day sessions to choose from as well. Depending on what schedule you choose, it will take between 5 to 8 weeks to complete the entire 75-hour course.

If driving to one of their locations every time is going to be too much of an inconvenience, they do offer a livestream option. You will just need a reliable internet connection and can virtually attend the class from anywhere on your laptop or computer. This route gives you the best of both worlds by giving you the real-time engagement of a classroom instructor without the hassle of the commute.

3. The CE Shop

Best School for Knowledge Seekers

The CE Shop is also another fast-growing school with courses offered in every single state. They bring their own unique approach to learning. They made the conscious decision to make all of their courses and materials available online only, so there aren’t any brick-and-mortar locations to visit or hardcopy books that you can have mailed to you.

The CE Shop built its own platform, called LEAP 2.0, from the ground up to leverage technology in the internet era. You go through the course, completing one slide deck at a time, and answer multiple-choice test questions at the end of each section. The interface is simple, clean, and elegant, making it very easy to navigate within the system. You can work on your courses and handoff from any mobile device, so you can continue your progress seamlessly from where you last left off.

The real difference with their courses is how they implement an inquiry-based engine. Rather than just reading a bunch of text like at many other online schools, you are getting quizzed constantly and must complete interactive exercises all throughout the course. This makes the course a lot more challenging and may even take you longer than the minimum 75 hours required by the state. However, in the end, you will be able to master the material better and pass the exam with flying colors.

If you are not in a rush to get licensed and are more interested in learning about how the real estate industry works, this will be a great option for you. If you find yourself struggling or have questions during the course, they have world-class support available via phone, chat, and email 7 days a week to help you every step of the way. With a 96% overall student satisfaction rate and money-back guarantee, you can’t go wrong The CE Shop.

5 Reasons Why Realtors Fail In The First Year

Posted on January 18, 2023 by Real Estate Like a Boss Leave a comment

A real estate career can be one of the most rewarding jobs that you will ever have, but it won’t always be a walk in the park. Some of the reasons why a career in real estate is popular are its flexibility, potential to give you unlimited income, as well as the fact that you will be working with people from all types of background.

Many people rush to get their real estate license and become an agent without thinking things through. Their minds are so preoccupied with thoughts of grandeur that they get lost in a fantasy world. Within a year, reality kicks in and brings you back down to Earth. Some will be able to pick themselves back up and keep going, while others will give up.

In this article, we will concentrate on the reasons why real estate agents fail in the first year. We are not trying to sound pessimistic. Rather, we are aiming to help those venturing into this profession so that they will be better prepared to handle the obstacles that lie ahead.

1. Not Working Hard Enough

As the saying goings, “No pain, no gain.” If you are looking to be a successful real estate agent and avoid being just a mere statistic, be aware that we are told that a high percentage of people who start their businesses will not hit the one year mark as they will have given up.

You can avoid being among those who will close their doors if you work hard enough. Just like any other business, as a real estate agent, you will need put in long hours, leave late, and work on weekends and holidays to chase those deals.

It is not easy. If you come in with a mentality that this is easy, you will be disappointed. You will sweat, maybe cry, and will definitely get let down. Your social life may not be as active anymore. Most of your free time may be taken up by trying to drum up business.

However, at the end of the day, your hard work will eventually pay off and you will close deals. You will be able to wipe those tears and sweat off with your fat commission checks. I can tell you from personal experience that one of the greatest feelings you will have is holding your first commission check in your hand.

2. Doing It For The Wrong Reaons

“Everybody is doing it. Why don’t I try it.”

This may be the right attitude, but real estate is not a business that you venture into just because others are doing it. Also, getting involved for the purposes or making a killing will get you very disappointed.

This is a business that is started by those who are passionate about helping people invest or find properties they are looking for. You need to be driven by something more than just the commissions that will be earned.

This is what will motivate you to wake up every day, even when you do not feel like it. And if you ask around, you will have several of such days in your career. If you do it for the passion of helping people, you will not feel disappointed when a deal you are about to close is canceled. You will live to fight another day, and hope to get an even better deal.

3. Running Out Of Money

Like any other business, a real estate career does not promise a regular income. There will be really good months, where your commission check is so big you can live off of it for months. However, there will also be down days, where you will not take home anything. Moreover, if the market is terrible, then you may even go months without closing a deal. Most veterans of the real estate industry will tell you they’ve had to tap into their savings a couple of times to pay expenses when they first started.

I’m not going to sugarcoat it. You will have a lot of anxiety and frustration when you aren’t bringing in any income, and you are watching the expenses start to pile up. You may have to resort to borrowing money with your credit card, asking friends and family members for help, or using coupons to buy groceries.

It will take the average person about 3 months to 6 months to close their first deal. With this in mind, you should have enough saved up to hold you over in the beginning. This will help you sleep at night. Trust me.

4. Not Being Organized

As a real estate professional, there will be mounds and mounds of paperwork you will have to keep track of. There are contracts, expenses, financial statements, agreements, applications, etc… If you aren’t organized, you will be prone to not only losing important documents, which wastes a lot of time later on, but filling them out incorrectly as well.

To avoid this, set up a filing system that is labeled and organized clearly. Make sure that all documents that need to be updated on a regular basis are within arms reach. This will save you time and sets you apart from the other rookie real estate agents who are busy ruffling through their paperwork.

5. Not Being Fully Committed

In life, you get what you put in. Real estate is no different. If you get into this part-time, you will reap part-time results. If you are okay with that, then great.

However, if you want to be a top producer or just make this into a career, you will need to commit to this full-time. You need to be available for your clients, who will be calling you at odd hours of the day. If you are busy at another job and can’t take their call for a few hours, or even days, that will look bad. Your other employer will also not like that you are being distracted as well.

Real estate can be a cutthroat industry. You have to remember that you are going up against other real estate agents who are putting in 100% of their effort 100% of the time. In order to truly be successful in this profession, you will need to be 100% committed to working full-time as a real estate agent.

5 Pros And Cons Of Being A Real Estate Agent

Posted on January 6, 2023 by Real Estate Like a Boss 2 comments

Working as a real estate agent is both rewarding and challenging. You will get lucrative deals but have to spend extended times looking for customers and convincing them to buy your property. It will require sacrifice and hard work for you to get the results that you want. If somebody is telling you that this is a walk in the park, a place where you can make a killing easily, or a career where you will get rich quickly, they are not telling you the truth.

Here, we want to give you the full story and tell you the sweet parts as well as the bitter parts, so that when delving in, you are prepared for anything and will have the capacity to handle all that comes your way. We will discuss five advantages and disadvantages in comprehensive detail that come with being a real estate agent.

Pro: You are the boss

The majority of people like being in control of their careers; they do not like being chained to a desk, where they are given orders by supervisors. Instead, they prefer making their own schedules and decisions on what they intend to do.

Being a real estate agent accords this opportunity; you will decide where to work from, how you want to work, the clients that you will approach, among other aspects. You will enjoy the freedom and flexibility that comes with self-employment, all that you have to do is learn the ropes, and you will be smiling as you make successful deals.

Con: Freedom comes at a price

Did the person who introduced you to the real estate industry tell you about the long hours that you will be putting in for this type of career? If he or she did not do that, a great disservice was done.

Like most self-employment jobs, you will be working 24 hours a day, seven days a week. This means you will be working throughout each day. If you are thinking of leaving your current employment so that you can cut the number of working hours, this will not happen. You will be forced to work for more hours, even sometimes late at night and on weekends.

Pro: Flexibility to make your own schedule

With freedom comes flexibility. You can choose when and where to work. This is a decision only you can make. It’s different from working for someone where a schedule is predetermined.

Con: Flexibility will require compromise

Being a real estate agent gives you freedom and flexibility but may cause problems, especially when you do not have somebody to guide you through. Delving into the real estate business without first acquiring the required skills and knowledge all in the name of enjoying the flexibility and freedom characterized by this sector will harm you. You are more likely to fail, leading to stress and depression.

Pro: Potential to increase your earnings every month

As a real estate agent, your earning can be increased every month. Here you have a chance to earn more; this will depend on the number of sales that you make. If you close more deals, your earnings will be higher. This is unlike other professionals, where earnings are fixed, and you can only earn more if you get bonuses, which shouldn’t be relied on as income.

Con: Unpredictable monthly income

When leaving employment to work on your own business, one thing that you should be prepared for is dry periods. This is a period when you do not have any deals closing or money coming in from your real estate business. If you have not saved for this period, you will be in a bad financial situation.

At times, a deal may take longer to close, and at other times, you may not close any deals at all. If this happens and you have no other source of income, it can really get bad. You need to save for such an eventuality. This is how many successful real estate agents have survived, by ensuring that you have some savings set aside to cover your down months.

Pro: Meet new people every day

Working as a real estate agent means working for people who are looking to buy, rent, or sell properties. Every day, you will get to meet people seeking your services.

This is a great opportunity to improve your people skills. You may start off as a shy person, but one year down the line, you will have gained confidence. All this comes with meeting different people all the time. With improved confidence, you will extend your network, even in areas where you would not have ventured before.

Con: You have to build a pipeline

In sales, they say that you have to meet with at least 20 people to make one deal; and that deal will not be closed in one day. Given that you can only talk to a limited number of people per day, it means that you will need a lot of energy, patience, and resilience in this profession.

Pro: You can work remote or from a home office

With advancements in technology, you can work as a real estate agent from anywhere. All you need is a platform where you can post details of the properties you are dealing with and a phone to talk to your clients. Real estate agents typically work in the field, either on the real estate property or meeting places such as coffee shops.

Con: Need to research and understand your market

For people to trust you, you need to be familiar with the area. Sometimes, the market in your local area may be saturated such that you have to move into another county or territory to find enough new business. This may put you at a disadvantage since you may not be familiar with this area and will require a learning curve.

Top 5 Mistakes New Real Estate Agents Make

Posted on December 30, 2022 by Real Estate Like a Boss Leave a comment

Real estate is a tough market. To begin with, the competition is increasing every day, especially for new real estate agents. If every successful real estate agent had to create a handbook for new real estate agents, most of them would bring different points to the table.

We have studied the success stories of real estate agents from around the globe, and dug out the top 5 mistakes new real estate agents make which have massively harmed their careers. Instead of focusing on the things you should do, it’s a better strategy to avoid the things not to do. This will certainly help you to be on the successful path within a short span of time.

Regardless of your constituency, there are some metrics which remain the same and we would like to shine some light on these metrics. So, let’s get started.

1. Not Being Prepared Enough

Most of the real estate agents who have chosen this field as a proper career don’t have much of a plan after getting into the market. Instead, they just go on believing their gut feeling. Your success in real estate is dependent upon your knowledge of the industry, things you know about the customer’s behavior, and business analytics. All of these ingredients cook up a professional dish, and you do need to devise a proper plan for it.

First of all, you should define your goals and then proceed with SWOT analysis. SWOT analysis means to identify your personal strengths and weaknesses, along with the opportunities you have in the market. The last bit of this plan should be your marketing plan, as you need to put out something which isn’t available in the market to appear unique among your competitors.

2. Not Having a Back-Up Plan

Real estate is no different than any other business when it comes to spending revenue in order to get the desired results, especially in the beginning. When you are just putting your feet in the market you should have a backup plan in place, along with a source of income. It is possible that you don’t close any deals in the starting months, so you need to ensure that you don’t fall into debt during this time period. On average, you may have to wait for 11 to 27 months in order to sell your first house. A lead converting into an actual buyer could take almost 4 to 11 months, so you should definitely have a backup plan in place.

Create a proper financial plan along with a marketing strategy. The financial plan needs to include your expenses for the next 5 to 6 months as well as the taxes. Figure out a way to prepare for this expenditure, even if you are unable to make a penny from your business. You have to know how you are going to market yourself in the market in the starting months, as it is always difficult to take the first leap. You need to create a unique identity if you want to outperform the people who have been working in the same niche for years.

3. Not Building A Brand

Word of mouth goes a long way, but as a fresh agent in the career, it is quite difficult to get the trust of potential buyers in the area. You need to create a brand, and the buyers need to feel that you are authentic and a serious agent. It is necessary to build an active online presence if you are in it for the long haul.

Create a proper website, build social media pages, get your friends and family on board to support you, and spend some money, if you can, on online marketing. People searching online for real estate agents need to know that they can obtain your services.

Attend networking events to get to know the potential buyers and observe the strategies of the successful agents in your area.

4. Not Following Up

One of the biggest mistakes new real estate agents make whether they are dealing with rentals or sales is forgetting to follow up. It mostly happens in big cities where an agent has to deal with dozens of listings and is often unable to reply to all the queries. Every ignored query is likely a missed opportunity to get a buyer, so you need to put aside plenty of time to follow up on your existing leads.

Following up on the leads you haven’t heard from is a necessity if you want a successful career in this business. You can set up alerts on your phones or on your computer. You can also use software to remind yourself after every few days about the leads that haven’t contacted you in a while.

5. Weak Communication Skills

Communication is the most important factor in the business of real estate, as customers are always changing up their minds while you are talking about the property you are presenting for rent or sale. You need to help the customers feel at ease, and they should know that their needs are being heard. Don’t just dodge their questions and boast about how good of a deal you are getting them. Present them with information that is relevant to them. Respond to their calls and messages in a timely manner. Don’t put any customer on hold, but even if you have to, apologize for the inconvenience and set an appointment with them later.

You can always improve your communication skills. You can take special classes, join support networks, or you can do it in the best possible way by talking to potential customers as much as possible. You can follow the famous proverb “fake it until you make it.” Although, you aren’t really faking it since you have already chosen real estate as a career and you can act as a successful agent.

Find the listings, choose the best deals, and ring up potential customers one by one. Talk to each one of them and remember to follow up.

Top 10 Career Paths in Real Estate

Posted on December 21, 2022 by Real Estate Like a Boss Leave a comment

If you are considering a new career, the real estate industry is a great place to look. According to the US Bureau of Labor Statistics (BLS), there were approximately 2.3 million people employed in real estate and rental and leasing in the United States as of May 2020. While the traditional real estate agent is the first thing that comes to mind for most people, there are a lot of other positions in the real estate industry that may be a better fit for you.

In this article, we will take a look at the top 10 careers in the real estate industry that you may want to consider. For many of these positions, no prior experience or a college degree is required. You just need to get a real estate license, which usually takes about 3 to 6 months of coursework and exams to obtain.

Residential Real Estate Agent

A residential real estate agent is a professional who helps individuals buy, sell, and rent properties for residential purposes. These agents work with clients to understand their needs and preferences, and then use their knowledge of the local real estate market to help clients find suitable properties. They also assist with the negotiation and closing process, and may provide guidance on issues such as financing, insurance, and property maintenance.

In addition, residential real estate agents may help clients stage and prepare their homes for sale, and may provide marketing and advertising support to help sell properties quickly and at a good price. Overall, the main goal of a residential real estate agent is to help clients buy, sell, or rent properties that meet their needs and goals.

Commercial Real Estate Agent

A commercial real estate agent is a professional who helps individuals and businesses buy, sell, and rent properties for commercial purposes. These properties may include office buildings, retail spaces, industrial warehouses, and other types of commercial real estate.

Commercial real estate agents work with clients to understand their needs and preferences, and then use their knowledge of the local real estate market to help clients find suitable properties. They may also assist with the negotiation and closing process, and may provide guidance on issues such as financing, insurance, and property maintenance.

Commercial real estate agents may also help clients stage and prepare their properties for sale or lease, and may provide marketing and advertising support to help sell or lease properties quickly and at a good price. Overall, the main goal of a commercial real estate agent is to help clients buy, sell, or rent properties that meet their needs and goals.

Broker

A real estate broker is a professional who holds a license to represent clients in the sale, purchase, or rental of real estate properties. In most cases, real estate brokers are more experienced and have more extensive education in real estate than agents. In addition to the tasks typically performed by real estate agents, brokers may also manage a team of agents, oversee transactions, and handle additional responsibilities such as setting prices, advertising properties, and handling legal documents.

In some states, brokers are required to have a certain amount of experience as an agent before they can become licensed as a broker. Once they have obtained a broker’s license, they may choose to open their own real estate brokerage, or they may work for an existing brokerage firm. Real estate brokers often have more autonomy and decision-making authority than agents, and they may be responsible for managing the business and financial aspects of the brokerage.

Transaction Coordinator

This is an administrative role where you work in the office assisting the real estate team. You manage all aspects of a real estate transaction from contract to close, including scheduling inspections and repairs, handling escrow documents, acquiring seller offers, and reviewing all contracts to ensure a smooth closing process. You will be dealing with not only the real estate staff in the office, but as well as work directly with home inspectors, lenders, and the clients.

Since the Transaction Coordinator plays an integral part of the process, this position would be great for somebody who is a great communicator and enjoys being a part of a team. A passion for providing excellent customer service and exceptional organization skills is needed to truly thrive in this role. While many companies typically require you to have a real estate license, you do not usually need a college degree to qualify.

Property Management

Property managers are responsible for handling all of the day-to-day activities needed to ensure everything on the property is operating as it should. This means they deal with the land and buildings on the property as well as tenants who may be occupying the space. Property Managers will typically specialize in either residential property or commercial property.

While there are similarities between the two categories, such as collecting rent, handling maintenance requests, filling vacant units and managing the general upkeep of the property, commercial property managers work with businesses while residential property managers work with individuals and families. This means the nature of the job is vastly different. Commercial property managers typically wear formal business attire and work on the premises during regular business hours. They handle lease contracts that are more complex and require more documentation to close.

Developer

A real estate developer is a professional who is responsible for the planning and construction of new properties, as well as the renovation and redevelopment of existing properties. They may work on a variety of projects, including residential, commercial, and industrial properties.

The specific responsibilities of a real estate developer may vary depending on the size and scope of the project, but common tasks may include conducting market research to determine the demand for different types of properties in a particular area, obtaining necessary permits and approvals from local authorities, overseeing the construction process, and selling the finished properties.

Real estate developers may work for a development company, or they may be DIYers who are self-employed. They may also work with a team of professionals, such as financial analysts and real estate agents, to complete their projects.

Marketing

If you are more of a creative person, there are many opportunities available in the real estate industry. In fact, you could say that marketing is the lifeblood for agents to get their leads. They brainstorm, conceptualize, and execute a wide variety of advertising campaigns and track its performance from start to finish.

Marketing Specialists typically manage all of the social media channels, create print and digital media content, email campaigns, and help agents develop their own unique brand. They may work for a real estate agency, a developer, or a property owner. So, the scope of the projects could be wide-ranging.

While a Marketing Specialist won’t have the income potential of a real estate agent, this position is generally more stable and follows a more predictable schedule. Some companies will also allow you to work from home.

Mortgage Loan Officer

A mortgage loan officer is a professional who works with individuals and businesses to help them secure financing for real estate transactions. These professionals work with clients to understand their financial situation, including their credit history, income, and debt obligations, and then help them find mortgage products that meet their needs and goals.

Mortgage loan officers typically work for banks, credit unions, and other financial institutions, and may also be employed by mortgage brokerages or other companies that specialize in lending. In their role, they may be responsible for evaluating loan applications, reviewing credit reports, negotiating loan terms with lenders, and helping clients understand the terms and conditions of their loans. They may also work with clients to complete necessary documentation and assist with the closing process. Overall, the main goal of a mortgage loan officer is to help clients secure financing to purchase, refinance, or renovate real estate properties.

Home Inspector

A home inspector is a professional who evaluates the condition of a home or other residential property. Home inspections are typically conducted when a home is being bought or sold, and are designed to identify any issues or defects with the property that may need to be addressed.

During a home inspection, the inspector will typically examine the structure and systems of the home, including the foundation, roof, electrical and plumbing systems, heating and cooling systems, and appliances. They may also check for pests, such as termites or other wood-destroying insects.

The home inspector will provide a written report detailing their findings and any recommendations for repairs or maintenance. This report can help buyers understand the condition of the property they are considering purchasing, and can also help sellers identify any issues that need to be addressed before the home is put on the market. Home inspectors do not make repairs or provide estimates for repairs; their role is to provide an objective assessment of the condition of the property.

Appraiser

A real estate appraiser is a professional who evaluates the value of real estate properties. Appraisers may be hired by banks, government agencies, or private individuals to assess the value of a property for a variety of purposes, such as selling, financing, or tax assessment.

To perform their job, appraisers typically follow a set of standardized procedures and use various sources of information about the property and the surrounding area. This may include conducting a physical inspection of the property, reviewing property records and sales data, and considering economic and market conditions.

Once an appraiser has gathered and analyzed this information, they will prepare a report detailing their findings and providing an estimated value for the property. The appraiser’s report is used by lenders, buyers, and other parties to make informed decisions about the property.

A Day In The Life Of A Realtor

Posted on November 30, 2022 by Real Estate Like a Boss Leave a comment

Although there might not be a typical day for a realtor, there are some activities that are done daily or as a routine.

A typical day would start with the realtor looking at a hot sheet. This is a document which outlines the previous day’s events. It will inform you of the properties sold, the new listings, the price changes, among other market activities.

This is a crucial sheet as it will give you the direction as far as market is concerned. The hot sheet is a tool that every realtor should have as it will provide you with the information that you need as for making important decisions.

A realtor will then organize an office meeting where everybody is updated on the current events of the firm. This is done to ensure that everybody is on the same page. The morning meetings also help realtors discuss challenges that they may be facing on the job.

Apart from days that are already booked full of appointments with clients, this meeting usually takes a brief amount of time, so that it does not take out that much of the realtor’s day.

Everybody should come prepared with notes to talk about so that the meetings are quick and to the point.

As a realtor, you do not want to hold lengthy meetings as this only wastes money. It also wastes a lot of time when people come unprepared, not knowing what they are going to talk about, and they take longer than expected. This might interfere with the day’s activity and ultimately leading to poor performance.

Once the meeting is over, a realtor looks typically at his or her calendar for any pending issues or meetings. There might be some unfinished businesses from yesterday’s activities. These need to be attended to first.

When you keep a business pending for too long or procrastinate, you risk forgetting about it altogether, and this might cost you some deals.

This emphasizes the need to keep records and be organized. You should have a system in place, whether it’s on Microsoft Outlook or a notebook calendar, that will always keep you updated on the activities that are scheduled. Proper records will also give you the direction as far as the progress is concerned.

Some of the pending issues might be a call to a customer who would like to sell a property or a student who is looking for a place to rent, or a young couple that is searching for a family house.

You can only follow up on these customers if you had notes written somewhere. You need to look at your calendar and plan your day accordingly.

The realtor then checks the rest of their calendar for other activities which are supposed to be made today. There might be some customers whom you need to follow up. You may also need to check on repairs and renovations that are being done on a house you are about to sell.

When the realtor notes down activities which are supposed to be done on a given day, he or she can plan ahead.

After planning out their daily activities, the realtors make some calls to confirm the meetings, noting which one has been canceled for several reasons. He or she then prepare for these meetings by ensuring that they have the details which might be required during the meetings.

It is essential that you appear in a meeting with your client prepared. This not only gives you confidence but also assures the customers that you are the right person. When you attend the meetings unprepared, the customers will notice, and they will lose faith in you.

This is a quick way to lose a customer, and if you are starting out as a real estate professional, you might not see your first anniversary as a realtor.

It is even worse when you present your customer with incorrect information and get your facts wrong, because when they discover that you were making things up, they will lose trust in you, and that may be the end of the deal.

It is imperative to ensure that during those meetings, you are presenting the real facts. There should be no half-truths or inaccurate information.

Reputation is everything. Customers have a way of talking to each other, and once your name is mentioned as having attempted to give inaccurate or misleading information, your business will suffer.

If you are not sure about something, just tell your client so, but also assure them that you will get the facts about a property or area and get back to them. When you make such promises, follow up and give information that will help them make a sound decision.

The rest of the day will be hectic as the realtor moves from one meeting to another.

They will have a lunch meeting, followed by a viewing of property in the afternoon. There was a meeting with the financiers in the morning, followed by another one in the afternoon. A realtor will then retire for the day having ensured they have planned for tomorrow’s activities.

Some will also take home some work, and make a few calls when they get home. A realtor can work for long hours, depending on what is on the table. However, this does not always feel like work for real estate agents, since many of them enjoy talking to people and helping them get one step closer to their dream house.

Top 3 Tips to Break into Luxury Real Estate

Posted on November 12, 2022 by Real Estate Like a Boss Leave a comment

How would you like to get a $1,000,000 commission check?

You don’t need a college degree or decades worth of experience. All you need is a real estate license and a hunger to break into the luxury real estate market, one of the handful of industries where getting a 9-figure payout is possible.

It may seem daunting dealing with exceptionally rich people who will scrutinize your every move. But the great thing about the real estate business is that it’s a people business. All you have to do is get your client to like you. And once you have that first deal under your belt, you will be able to use that as a foundation to build a successful career in the high-end market.

Here are the three most important tips you will need to know to break into the luxury market.

#1 Understand Your Clientele

The luxury clientele is going to be a lot different from your traditional single-family-home-type customer. They most likely have a lot more money than you, and they are probably a lot smarter than you as well. This doesn’t necessarily mean academically smart but they may be really business savvy as there are a lot of successful millionaires who never went to college. This may seem intimidating at first, but if you get to know your client as much as possible and focus on your needs, then you will feel a lot more comfortable when you interact with them.

One of the first things you can do is identify their personality type. There are a variety of personality tests available to help you make your assessment. Arguably the most well-known is the DISC personality test. This method breaks down a person’s personality into four major categories: Dominance (D), Influence (I), Steadiness (S), and Conscientiousness (C).

Once you’ve identified what kind of personality type your client has, you can tailor your communication style to help build rapport. If you want to take it to the next level, there are marketing companies like Crystal, which uses artificial intelligence and adaptive selling methods to do the work for you. They take whatever message you want to send and translate that to fit your client’s personality communication style.

Another important area you need to identify with the luxury client is their preferred method of communication. Do you they prefer to talk through text messages, email, or over the phone? What times of the day work best for them? If they are not responsive, it may help to change it up. Try different methods and times of the day and see which one they respond to the most.

Keep in mind that the luxury client is most likely in the market due to desire, not out of necessity. This means they are not in a rush to make a deal, which means this will most likely be an impulse purchase. They are not going to buy a house because they like it. They are going to buy a house because they absolutely love it.

Find out what is important to them. Do they want spectacular landscape views? Are they big on the social scene and want to be close to special events and parties? How important is the weather going to be for their lifestyle? What are their hobbies and types of venues they frequent for dining and entertainment?

The more you know about your client and what they want, the better chance you will have at winning their business.

#2 Do Your Homework

The competition in the luxury real estate space is cutthroat. Simply knowing everything you can about your client is not going to be enough. You need to know everything you can about the properties as well. This is where you can really set yourself apart from other agents and establish yourself as someone with insider knowledge.

This is usually the boring part of the job, where you are doing a lot of monotonous tasks. This means driving by every single neighborhood and scouring databases to find out the previous owners of the properties. Learn about why they are selling, any interesting historical facts about the properties, and about the surrounding community as well. You literally want to know about every single house in the neighborhood.

Once you have all this knowledge, you can use it as a selling point for yourself by putting it on display to impress your clients. You can consolidate all your research in a binder or booklet and personally hand it to them. Most luxury clients still like to have something tactile when they browse real estate properties.

The key is to anticipate what you think they are going to want to see and focus on those specific areas. If they are technical and detail-oriented, then it may help to include a lot of numbers and statistical data. If they are more of a visionary or a dreamer, then focus more on including high-quality photos and videos to highlight the general aesthetics of the property.

The more time you spend doing your homework on the property and the surrounding areas, the more your client will appreciate your hard work and want to work with you. There is no substitute for preparation. Leave nothing to chance.

#3 Be Yourself

The great thing about being a luxury real estate agent is that you don’t need a special college degree or certification to do it. As long as you have an active real estate license, you can jump into it at any time you want. Your skills, knowledge, and hunger for more is what will determine how successful you are.

If you are completely new to the luxury real estate market, you may be feeling apprehensive or worried that you don’t have what it takes to succeed. Fortunately, skills and experience can be acquired over time. Don’t get caught up in the mindset that you aren’t good enough. Rather, you should be focused on pursuing a goal and trying to live that luxurious lifestyle for yourself.

If you worried about your lack of experience, sell what you do have. Focus on your strengths. You can always research harder and put in more hours than your competitors. If your broker has a prominent reputation in the luxury space, use their numbers to give yourself credibility. Whatever you do, you should definitely not sell something that you don’t have.

Remember, in real estate, clients don’t look to choose the best agent in the world, they choose you for your personality and what you bring to the table. If that were the case, then there would only be one luxury agent that everyone uses. The luxury client only cares about what you are going to do for them today, not what you did for your clients in the past.

TOP 10 Best Real Estate Coaches for 2023

Posted on November 1, 2022 by Real Estate Like a Boss Leave a comment

We live in a society that praises individual accomplishments. However, what is often hidden from view is the extensive support system working behind that individual. Tiger Woods didn’t win his 15 major golf championships by himself. He has had a handful of swing coaches work with him to help him find his form, not to mention his caddies who carry his golf clubs out on the course.

If the best of the best professional athletes use coaches to take their game to the next level, the same applies for real estate agents. Real estate coaches can help you close more deals by sharing their decades worth of lessons learned and save you time by showing you the best tools and resources to use for your business. If nothing else, a real estate coach will give you a boost of energy and make you feel motivated to step up your game.

Here is a list of the ten best coaches and training programs in the real estate industry today.

1. Kevin Ward

Kevin Ward, based in Redondo Beach, California, started off as a timid boy from West Texas from humble beginnings and is best known for being the author of the best-selling book “The Book of Yes.” He has a direct, “no BS approach,” and talks very candidly about his own personal struggles, including marital problems that ended up in divorce. He is very open about his failures and how he had to start over from scratch to selling over 100 homes a year in less than three years.

2. Tom Ferry

Tom Ferry is the founder and CEO of Ferry International, which is arguably the biggest real estate coaching organization in the country. They have every type of coaching offering you could ever dream of. They have over 165 certified coaches on staff, live seminars, private training events, podcasts, YouTube videos, and more. While you probably won’t be able to get an actual one-on-one session with Tom Ferry himself, his organization has programs that will cater to anyone’s needs and skill level.

3. Mike Ferry

Mike Ferry, founder of The Mike Ferry Organization, is Tom Ferry’s father. He has been coaching in real estate since 1975 and is considered to be the godfather of real estate coaches. The Mike Ferry Organization is also a rather large company with a plethora of training options. They have live classes, online video courses, and one-on-one training sessions with certified instructors. The biggest difference is that Mike Ferry takes on more of a traditional methodology to sales. Less technology, practical systems, and a focus on common sense and personal values.

4. Travis Robertson

Travis Robertson has been around for over 10 years and bills itself as the “most innovative coaching company for a new generation of real estate professionals.” They don’t want just anybody to take their program. They only want people who are committed to real estate full-time, willing to work hard, and care more about their customers than making money. They have already developed the secret formula for success, and they want to share this with people who are willing to learn.

5. Tim and Julie Harris

Tim and Julie are a real estate coaching couple. Having been married for over 30 years, their claim to fame is their daily podcast called Real Estate Coaching Radio. They talk about everything related to real estate, including how to generate leads, write up sales scripts, and listing presentations. They are a smaller outfit with about 12 coaches on staff and over 4,400 members in their program. Although they don’t have as many offerings as the bigger name players, you get a more intimate training session, which makes you feel more special.

6. 16 Strategies

16 Strategies is the creation of Sean Moudry, a top-producing real estate agent that was inducted into Remax’s Hall of Fame by his second year on the job! He has written books on real estate investing and coached over 3,000 people in the past 15 years. What sets his methodology apart from other coaches is that they do a deep analysis of you and your own personality first. They build a profile of your strengths and weaknesses. From there, they build a customized strategy that is tailored specifically to you to extract the maximum performance.

7. Katie Lance

Katie comes from the world of marketing and has been at it for over 20 years. She first got involved in real estate as a marketing director for a small brokerage firm in San Francisco and has continued to be heavily involved in real estate marketing ever since. Her main specialty is helping agents with their social media marketing strategy, such as Facebook, Instagram, YouTube and LinkedIn. There are over 20 hours of online video courses and weekly Q&A sessions with Katie herself to help you save time and generate more leads.

8. The Real Estate Trainer

When you sign up with The Real Estate Trainer, it feels like you have enrolled into a real estate college. They don’t teach a 12-step program or secret formula like some of the other real estate coaching programs. Instead, they offer an assortment of individual and comprehensive courses on a broad range of topics that you can choose to take at any time and in any order. They even issue you a completion certificate when you finish each course. If you want a more personal experience, they also hold live seminars and offer individual coaching as well.

9. Buffini & Company

Buffini & Company, based in Carlsbad, California, is the largest coaching and training company in North America. They have helped over 3 million clients from 41 countries in the past 20 years. The company was started by Brian Buffini, who emigrated from Ireland and became a top producing real estate agent by focusing on generating leads through referrals. He has perfected the referral marketing system and has developed courses, CRM tools, podcasts, and monthly marketing kits to help real estate agents maintain a steady stream of repeat business.

10. Karen Coffey

If you want to feel inspired with a rags-to-riches story, then you may want to look at Karen Coffey. Karen lost everything in 2008 and became a homeless, single mother. She turned it around and found success as a real estate agent. She has since become an award-winning speaker, best-selling author, and one of the top 200 fastest growing companies in 2021. Her program has been specifically developed to help women in real estate to hit the ground running hard, so they can start seeing results immediately.

5 Biggest Fears for Real Estate Agents

Posted on October 24, 2022 by Real Estate Like a Boss Leave a comment

It seems like you can’t turn on the news nowadays without seeing some mention of the dreaded “r” word of recession, especially in the real estate markets. Whether or not we are going into a recession, or perhaps, the more pertinent question of trying to predict how bad it’s going to be is anyone’s guess.

As any seasoned real estate agent knows, it’s important to keep these fears in perspective and remember the one constant truth: people will always want to buy a home. When you simplify the situation and break it down, many of the fears people have about becoming a successful real estate agent don’t hold up over time. We examine the five most common fears that real estate agents face and the things you can do to overcome them.

1. Recession

Recessions are a natural part of the business cycle that is out of your control. When you put that into perspective, you can leverage that to come out on top when the market rebounds. The best approach would be to incorporate both a defensive and offensive strategy to counter any housing market downturn.

The defensive things that you can do to deal with a down market are things that are within your control. This includes building your savings to cover your living costs for the next 6 to 12 months and cutting out unnecessary expenses. Take a good hard look at where you are spending money and see if you can find ways to minimize them.

When it comes to building an offensive strategy to tackle a recession, the general idea is to be proactive rather than reactive. Even though there may be fewer real estate transactions to go around, that doesn’t mean you can’t create value for your business in other ways.

One of the ways you can easily add value to your business is simply through your own personal development. You can use this time to join Facebook groups, real estate discussion forums, and subreddits to learn new strategies and techniques from your fellow agents. These resources are great for meeting new people who are going through the same situation as you and can even be a place for emotional support. Attending self-help and motivational seminars in person are also great places you can go to get a boost of energy.

In terms of your business strategy, you may want to start looking into other markets. There is no doubt that recessions will cause other real estate agents to quit. This means that more territory and new opportunities become available for agents who are willing to stick it out. Instead of only working with single family homes, you may want to consider leasing, investment properties, commercial real estate or even property management. Real estate is a big field with many possibilities.

Doing these small activities will all help shift your mindset from focusing on obstacles to looking for opportunities. They help to anchor positive thoughts and remove things that invoke negative ones. The real question you should be wondering is if you are going to be ready when the market rebounds.

2. Unpredictable Income

Real estate agents are typically paid out on commission when they close a real estate transaction. Although these commission checks can be very large, there is no guarantee on when, or even if, they will be receiving their next one. This unpredictable schedule of getting paid can cause anxiety in some people.

If you are starting out as a new real estate agent, then the best route to establishing a long-term career would be to have enough funds set aside to last you at least 6 to 12 months. This would give you enough cushion to pursue real estate full-time and build your pipeline faster. If you find it difficult to save that amount of money, you can also do some rigorous analysis to cut costs in other areas to reduce your overall overhead.

If you already have a stable job, then it can be a scary proposition to leave that comfortable position to take on the risk on being a real estate agent. This is especially true if you are trying to raise a family and have other financial obligations. How do you get rid of that fear?

You can start part time. Keep your Monday through Friday day job and only work on weekends. Build your initial pipeline by going through your immediate sphere of influence first. People who know you directly or friends of friends. Work that pipeline first and see how it goes.

Once you get your pipeline going, you will feel more confident about leaving your regular job and going into real estate full time.

3. It Takes Too Much Time

We’ve been conditioned from childhood to believe that how much you make is directly correlated to how hard you work or how many hours you put in. This rule applies for a lot of situations but doesn’t have to in real estate.

As a real estate agent, you get to be the CEO of your own little business. Meaning you get to be in control of your productivity. This flexibility allows you to scale your business in ways that most other professions can’t. You get to choose to spend more of your time on the things that make you money and less time on things that don’t.

If you are getting bogged down in paperwork, you can hire a transaction coordinator or hire a virtual assistant. If you need help with marketing, your broker may have in-house resources available for you to use or you can simply hire a third-party social media marketing company. Whatever your needs are, there are usually tools you can outsource as a real estate agent to make the most of your time.

4. It Costs Too Much

One of the big fears people have about starting in real estate is that they are worried there is going to be a lot of upfront costs. While there is going to be some initial investment for a new agent, the vast majority of other expenses can be controlled and adjusted as needed.

The key is to create a goal and track your results. Set a budget for how much you think it will cost to achieve that goal. When you are a new agent, it is advisable to be realistic and start with small numbers.

As you work towards your goal, track your expenses along with your results. If your expenses are adding up a lot but you are not getting results, then it may be time to stop and reassess your situation.

However, if your expenses are in line with expectations and you end up getting great results, you know something is working well and you may want to start increasing your expenses to keep up with your rapid growth!

5. Fear of Failing

Nobody wants to fail, but it is just a part of life. In fact, if you want to be great at something, failing is a requirement. You can look at professional athletes or the greatest business leaders who ever lived as examples. Michael Jordan didn’t win every single game of his career. Every Apple product that Steve Jobs made wasn’t a hit. Perhaps, the most well-known example is of Thomas Edison failing a thousand times before finally perfecting the light bulb.

Rather than focus on the fear of failing, try to shift the focus to what you might have missed out on had you stuck it out a little longer. Imagine if Thomas Edison had given up on his 999^th try when inventing the light bulb. Being successful doesn’t mean you won’t fail at some point. Being successful is about putting in the effort to try.

There is no denying that failing is not a good feeling. This is where your passion for real estate and helping people realize their dream of owning a home comes into play. If you want to become a real estate agent for the right reasons, then any setbacks you face will be short-lived and only temporary.

« Older Entries Recent Entries »