A Survival Guide for Your First Year in Real Estate
If you’ve just received your Queensland Real Estate Registration Certificate, you may be asking yourself: What’s next? The goal is to sell amazing homes of course, but there a few steps between now and then. Your first 12 months in real estate will have ups, downs, wins, losses, and lots and lots of learning. Welcome to the world of real estate – here’s your First Year Survival Guide.
Landing A Job
Practising your sales pitch and taking selfies to see how you’ll look on the side of a bus stop isn’t a bad idea, but let’s put it aside for a moment. The most pressing thing is to actually secure a position in an agency. At the REIQ, we generally advise avoiding a scattergun approach. Every agency operates differently and brings its own unique culture to the game. Finding an agency whose modus operandi suits your personality will keep you in a great headspace, and set you up for success.
Do your homework and learn about the agencies in your area, and when you’ve established a shortlist, start applying. Your prior research will come in doubly handy, as you’ll be able to tailor your applications. Be realistic with your expectations, too. If you haven’t had any practical experience, offer your services on a trial basis to let agencies get to know you and your work ethic. Starting as an assistant or receptionist is also a common place to start, and provides you with a great outlook of the business before you move up the ladder.
Selling homes is not the kind of job you can excel at when you’ve had three hours sleep and a few too many tipples the night before. It’s a mental game that demands sharpness, resilience, and some charisma. To help guarantee success in your first year of real estate, make sure you’re mentally prepared for what’s to come. Patrick Ivey, Sales Consultant at Harcourts and on-the-side-auctioneer, urges newcomers to prepare for the ups and downs.
“There are no two days the same in real estate, and you’re going to have lots of good news and bad news,” he says. “You’ve just got to take it day by day in that regard, and not take anything personal.” In real estate there will come times when emotions run high and stress levels rise, but it’s vitally important to not take any of that home with you so each day can be started on a fresh slate.
REIQ’s Registration Course teaches you all the theory you need to know to sell real estate, but there is always more learning to be done. In real estate, that learning starts on day one and ends when you retire. Ivey recommends spending the first year – or a significant part of it – working as an associate agent alongside someone more experienced.
“You’re going to learn from that agent what to do and what not to do,” he says. “Listen to their conversations, stand in at their open houses and auctions, and learn as much as you can in that first year as an assistant rather than going straight out on your own.”
Enjoyed this teaser article? Stay tuned for the full version of REIQ’s First Year Real Estate Survival Guide, available soon.