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How To Stage Your Home For Sale

Posted on May 25, 2023 by Real Estate Like a Boss Leave a comment

Selling your home can be a daunting task, but there are a few things you can do to make the process easier and more successful. One of the most important things you can do is to stage your home properly. Staging is the process of preparing your home to sell by making it look its best. This can involve decluttering, cleaning, and making minor repairs. It can also involve rearranging furniture, adding new décor, and depersonalizing your space.

There are many benefits to staging your home. First, it can help you sell your home faster. Studies have shown that staged homes sell for an average of 7% more than unstaged homes. Second, staging can help you get a higher price for your home. Buyers are more likely to pay top dollar for a home that looks its best. Third, staging can help you avoid having to make major repairs. Buyers are more likely to overlook minor flaws in a staged home.

If you’re thinking about selling your home, here are a few tips for staging it properly.

1. Declutter

The first step to staging your home is to declutter. This means getting rid of anything that you don’t use or need. This includes furniture, appliances, décor, and personal belongings. The goal is to create a sense of spaciousness and airiness in your home.

2. Clean

Once you’ve decluttered, it’s time to clean. This means cleaning every nook and cranny of your home. This includes the floors, walls, ceilings, appliances, and windows. You should also make sure that your home smells fresh.

3. Make repairs

If there are any repairs that need to be made to your home, now is the time to do them. This includes fixing any cracks in the walls, repairing any leaky faucets, and painting any scuffed or faded walls.

4. Rearrange the furniture

Once your home is clean and repaired, it’s time to rearrange the furniture. The goal is to create a flow in your home and to make the most of the space. You may want to consider hiring a professional stager to help you with this.

5. Add new décor

If your home is looking a little bare, you can add some new décor to liven it up. This could include things like fresh flowers, new throw pillows, and artwork. You should avoid using too much décor, as this can make your home look cluttered.

6. De-personalize your space

When you’re selling your home, it’s important to depersonalize your space. This means removing any personal belongings, such as family photos, religious symbols, and political paraphernalia. You should also avoid using any strong scents, as these can be off-putting to buyers.

Additional Tips:

Hire a professional stager. A professional stager can help you declutter, clean, and rearrange your furniture to create a space that is both stylish and inviting.
Take good photos. High-quality photos are essential for attracting buyers to your listing. Make sure to take photos of all of the rooms in your home, as well as the exterior.
Price your home competitively. Buyers are more likely to make an offer on a home that is priced competitively. Do some research to find out what similar homes in your area have sold for.
Market your home. Once your home is staged and priced competitively, it’s time to start marketing it. You can list your home on real estate websites, put up signs in your yard, and tell your friends and family about it.

By following these tips, you can increase your chances of selling your home quickly and for a profit.

Is Real Estate The Right Career For You?

Posted on February 7, 2023 by Real Estate Like a Boss Leave a comment

Many people are attracted to the profession of realtor because they believe it brings easy money for them. There is no doubt that successful realtors earn a lot of money, but it is equally valid that their percentage is tiny, and they can make so much cash after having worked hard for many years.

Another category of people taking up the career of real estate is those who are lured by the prospect of flexible working hours and the opportunity of becoming their own boss. They see it as an escape route to get rid of their 9-5 office job and a chance to enjoy free time with their loved ones.

No matter how you look at the profession of a realtor, it is essential to look at yourself first before joining the bandwagon. Are you the right person to become a real estate agent? Let us find out in this article.

Do you have a likable personality?

Being a realtor involves working with not just the clients but also other realtors, brokers, lenders, contractors, and vendors. People who have a likable personality and who get along well with other people are more likely to succeed in this career.

Of course, you can do well even if you are an introvert, but you must learn to be comfortable in dealing with other individuals if you want to succeed as a realtor. You can easily fit in this profession if you are an extrovert and have an outgoing personality.

Are you motivated to be your own boss?

If you are excited about the prospect of being your own boss, real estate is a profession for you. Though most realtors start by working under an experienced realtor in the beginning, they ultimately set up their own independent business. You will enjoy the freedom that comes with being your own boss such as a flexible schedule and hours of work.

However, it also brings added responsibility of managing everything on your own. You must be ready to work according to the schedules and needs of your clients. It would be best if you also made efforts for marketing of your business such as socializing and spending time with prospects, understanding their needs and advising them on real estate decisions.

You must be ready to put in time at odd hours of the day and also weekends if you really want to be successful in this career. If you think you can manage all this, real estate is undoubtedly an excellent career for you.

Earning potential can be high, but you must be patient

There is no question that you can make a lot of money as a real estate agent. Only the sky is the limit for you as far as the money you can earn is concerned, but for that to happen, you need to be patient.

Many new realtors become frustrated when they do not see any money coming their way in the first 6-8 months of working as a real estate agent. To sustain as a realtor, you must be prepared to spend money from your own savings account in the initial period of the first few months.

If you think you can be patient and willing to work hard, this is undoubtedly a right career for you.

Do you have excellent communication skills?

Excellent communication skills are a significant prerequisite for being a real estate agent. You will find yourself talking directly to not just your clients but also the contractors, investors, lenders, brokers, and lawyers.

Your ability to develop strong and meaningful relationships with others will play a crucial role in ensuring your success as a real estate agent. Having a helpful personality and an attitude of gratitude will be very helpful in making you a favorite realtor.

You will be required to build contacts and maintain relationships with all your past, and present clients as most of the business in this profession come through referrals. This is possible only when you have excellent communications skills.

If you are a good listener and pay attention to the needs and requirements of your clients, you will be able to earn their trust and confidence.

Are you prepared to work hard?

Most people think there is easy money to be had by working as a realtor. Yes, you can earn a lot of money eventually but to get to that stage, you must work hard to develop your reputation as a knowledgeable, honest, and reliable realtor.

It takes time to build a positive image for yourself, and you must be ready to work hard. However, once you establish yourself as an experienced and reliable realtor, you will find that you start to get work easily through your referrals.

Do you enjoy marketing?

An important question to ask yourself is whether you love challenges or not. Of course, your knowledge of real estate is essential, but you will find that this profession throws new challenges at you now and then.

You must use your resources and your network of realtors and other professionals to overcome these challenges. Real estate is going to be an excellent career for you if you are not bothered by new problems and willing to take them in your stride.

Do you love challenges?

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 4 Online Real Estate Schools in Pennsylvania

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

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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.

Should I Upgrade To A Broker License?

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

Are you a person who wants to keep moving forward in your life instead of just being comfortable with what you are earning and being content with what you have achieved already? Do you want to be in control, or do you just want to work under a boss? If you are a person who likes to be in control and you have worked as a real estate agent for the required number of years, you can definitely achieve more by becoming a broker.

Getting a broker’s license would definitely open new doors of success for you as you would be able to work with bigger corporations, other brokerages, and developers. You can even set up your own brokerage firm and go all in instead of just being on the sidelines and working hard as a real estate agent while earning less. Becoming a business owner is definitely a better thing to do instead of just being an employee. You have already done the hard part if you have been in the market for several years, so it is definitely time to step up your game a bit, and start a new career as a broker.

Why a Broker License

A real estate agent is a great career choice in a metropolitan city, especially if you have the spark, you are good at analytics and you can communicate well. Being a real estate agent is requires a lot of hard work, and you need to be sponsored by a licensed broker in order to work in the industry. So, this means that you are basically an employee of a broker or a brokerage firm.

If you like your job as an employee, that is well and good, but if you want to open your own brokerage firm, you need to obtain a broker’s license. There are multiple reasons why it is more beneficial to become a broker instead of a real estate agent:

For a real estate agent who has worked in the industry for quite a while, the next logical step ahead is becoming a broker.
You won’t have to pay any of your hard earned money as commission to your broker anymore.
With a broker’s license, you would be able to play with the big fish in the industry. You would be the owner of the business, not just one of many employees.
You can go for the bigger chunk of the profit and earn more with much less effort as compared to a real estate agent because you will be managing many deals and real estate agents at a time.
If you think you are a good manager and you can make better decisions than your current broker because of your skills and knowledge you’ve gained being a real estate agent, you need this license.

How do I get a Broker license?

Becoming a broker is a step towards becoming a big player in the real estate business. It is impossible to complete a deal without a broker and if you want to qualify for a broker’s license you need to fulfill certain conditions. Requirements vary state by state, but here are the common ones:

You generally need to be 21 years old or older when you are applying for the license.
You should have worked as a licensed real estate agent for 2 years or more. Some states require more than 4 years of experience.
You need to complete the pre-license broker courses.
You need to pass a qualifying state examination.
You will have to disclose any criminal history.

What are the benefits?

Real estate contracts are the core of the business, and they need to be done right in order to keep the market moving in the right direction. Brokers make these contracts happens, and you will get direct access to the local Multiple Listing Service (MLS) once you’ve got your license. You will become a property manager instead of just someone who has to show property around to people day in and day out.

Every real estate agent needs to have a sponsorship from a broker so you can be a boss. You will be able to hire smart, ambitious, like-minded people like real estate agents and grow your business. A broker’s license will give you the power to create a team that can help you achieve the heights you’ve dreamt of during your real estate agent days.

Real estate brokers can bring in a lot of revenue especially when you look at the statistics of business revenues in the metropolitan cities. The demand for real estate brokers is increasing every day. There were 92,790 new job openings for real estate brokers in the last year and the demand is just going upwards. Owning a brokerage is not only about having the chance of earning much more than your peers, but it is also a chance to build your own legacy.

You don’t have to split your commission with anyone anymore. You would be the one hiring people and you can have your desired commission from the real estate agents you would be hiring.

Some final thoughts...

Although there are different laws and requirements for getting a broker’s license, you generally need to have a minimum work experience of 2 years as a real estate agent. Getting a broker’s license requires a financial as well as a time commitment, so you need to think long and hard before making this decision. If you want to be a big player in the industry and you think you’ve worked enough days as an agent, this license is the key to taking your career to the next level. Try to read all the requirements in your state before opting out of your real estate job, and create a contingency plan in case you are unable to pass the exam.

The best option would be to enroll in a well-reputed institution to prepare for the broker’s license exam. According to a recent report, there will be a 28.15% increase in real estate broker jobs in the coming 5 years just in the US alone. So, the future looks quite bright for you if you are able to obtain the license. We wish you all the best and we would love to assist you further, as you can post your queries in the comment section.

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