WHAT DO YOU NEED TO KNOW WHILE GETTING INTO REAL ESTATE? test
“How to start a real estate career? ” has become a popular topic of discussion lately. With a continuously steady market this leads to an increase on house prices and sales, does this not make a career in real estate looks promising.
You get to be your own boss, isn’t this everyone dream cone true, you make your own schedule, and it can be extremely rewarding both financially and personally.
But “how do I get started?” you ask, first of all you need a Real Estate License. Just like your driver’s license, there is courses and exams involved in the process.
MREA, Manitoba Real Estate Association, is responsible for the educational process in Manitoba, for those who want to begin a real estate career and become a licensed salesperson.
To become a registered real estate professional, you must:
-Be a permanent resident of Canada. (If you are not a Canadian citizen, you must provide documentary evidence showing that you are entitled to work in Canada)
-Be 18 years of age or older
-Complete the Modules 1, 2, 3, passing an exam after each, and Module 4, this is a in class day.
-Be engaged by a registered broker or real estate firm in Manitoba
-Have a good past record of financial responsibility and conduct
-Submit the required forms and payment of the registration fee to The Manitoba Securities Commission
For more information visit:
Here at Preston Myre we get more business than we can handle because we offer the most value by:
-Having In-House professional coaching
-Providing the tools that are needed to succeed in your personal life and professional career
-In House University and Library
-Training and coaching throughout Modules 1, 2, 3 and 4 of the Real Estate as a Professional Career course
-Capture and convert more online leads
-Market and advertise (branding your name)
-Double your business with company referrals
HOW MUCH IS IT GOING TO COST ME TO GET INTO REAL ESTATE?
It depends, this is a tough question to answer because there are many variables and they vary from broker to broker. Here are some of the costs and fees once you are a licensed real estate agent:
-Association of Realtors/MLS
-Errors and Omissions Insurance
Becoming a real estate agent takes planning and saving. If you have more questions on how to start a real estate career and what you need to do to start earning the money you deserve call a Preston Myre Real Estate Services Winnipeg Properties at 204-615 7333.
***Ask for our referral fees registration rewards payments program***
7 STEPS TO GO FROM A NEW AGENT TO A TOP PRODUCER
Most people study what successful people are doing now, and try to emulate that. However, it is much more effective to study what they did to get to where they are now. Here’s how top agents have done it in the past and how you can go from a new agent to a top producer in no time at all.
STEP 1: GET LICENSED
Groundbreaking, right? This seems pretty obvious, but many prospective agents don’t know how to get licensed. Preston Myre Real Estate actually has a support team to help you through this process, from registering for classes to studying the right material to receiving your license – this generally takes 4-6 months.
STEP 2: CHOOSE A COMPANY
Choosing which company to hang your license with is one of the most important decisions that you will make. It is important to research where you will hang your license and interview those who will be mentoring you. Here are some key points you will want to know:
What is the benefit for my clients, for me to be with your company?
What formal training does your company provide?
What further support will I have after training?
Do you have a mentor or a mentorship program?
How will you assist me in generating leads?
What tools does your company have for me to convert those leads into clients? (In the beginning, your main need is a company who will train and assist you with getting leads)
STEP 3: LEARN THE BENCHMARKS
Benchmark #1 – What do Real Estate Agents Do? It is important to know what real estate agents do at the core. We find a buyer who wants to buy, find a seller who wants to sell, and we bring them together. Some people try to complicate what we do, but it really is that simple. The trick is to set up a system.
Benchmark #2 – What do Real Estate Agents Have to Know? The two main things that you need to know are “WHAT you are selling” and “HOW to sell it”. This really boils down to Product Knowledge & Contract Knowledge. Product Knowledge is combination of statistical market knowledge and an intimate knowledge of emotional property. Contract Knowledge is pretty straightforward – You need to know the contracts that are involved in a real estate transaction.
Benchmark #3 – What does the daily work day look like for a Real Estate Agent? This is not a desk job that is all about putting in your 40 hours sitting at a desk all day.
It is all about talking to people and constantly staying in touch with these people, networking, and continuously growing your sphere of influence, is the most important work a real estate agent does.
STEP 4: CREATE YOUR BUSINESS SYSTEM
Most people just dive into the real estate career with no idea that they are actually creating a small business. The only way you will ever be able to have a slight chance of knowing your income is by having a system for your business. Here at Preston Myre Real Estate Services we have a proven system, that will be handed to you on your first day of training. This system was developed by top agents within our company and has been refined over the years with the changing market. It is the same system that the top agents in our company utilize, as well as turns new agents into top producers.
STEP 5: START!
That’s right. Start.
As common sense as it sounds, most agents have an extremely difficult time actually implementing their Business System. Most agents want to know how long it will take for them to become successful in real estate, the truth is that it all depends on the agent and how long it takes them to actually start.
STEP 6: GET BUSINESS
We all know that the main reason why most small businesses fail, in the first two years, is a lack of business and the same goes for real estate agents. In real estate, there are literally thousands of methods on how to generate leads, but they fall into two categories. – Marketing & Prospecting.
Marketing is the process of getting your name out into the marketplace through a number of ways. The most common ways of marketing are: Newspaper Ads, Neighbourhoods Flyers (also known as Farming), Search Engine Optimization, Social Media, Personal Websites, Youtube Video Blasts, Weekly/Monthly Newsletters, and Third-Party Internet Search Sites.
Prospecting is a more proactive approach to lead generation, this requires more action on the agent’s part. Common forms of prospecting include: Open Houses, Door Knocking, Cold Calling, Warm Calling, Working Expired Listings, Attending Networking Groups, Attending Community Functions & Ceremonies, etc. Prospecting is incredibly important to a real estate agent’s lead generation system, and is vital to the new agent, as it generally produces faster results.
STEP 7: CONVERT THAT BUSINESS
You are excited that you have your first lead, but anxious that they won’t end up buying anything at all – or worse – they do, but they buy through another agent. Lead Conversion really has two conversions with each client you work with.
1. Convert a client to working with you
2. Convert them for the transaction
For buyers, converting them on the house itself; for sellers, converting them for a particular offer. The good news is that Preston Myre can give you a step-by-step system that walks you through the entire conversion process and exclusive conversion tools to use along the way. After converting the client and closing escrow, you get to start the whole process over again!