Most agents usually experience a rude awakening after they get their WV real estate license. Before you start off at your WV real estate school, you are of course anxious and uncertain about the future. However, as you progress with your education, you realize things are way easier than you first thought them to be. As a matter of fact, most people do not see why people consider being a real estate agent a hard job. You cannot help but think about all the property that you will sell and you even begin planning for your future and how big a success you will become.
At the end of it all, you get a WV real estate license and you go out into the world with high hopes and determination. At this point, most people even have buyers lined up and ready for their big buy. Some get lucky and make their first few sales in the first months of entering the working world. Even though the gains are never as much as they anticipated, this is still a win. For most however, the real estate world turns out to be a nightmare and seemingly just for them. It always appears as though everyone else in the brokerage agency is earning while you are not. The buyers that you had apparently lined up turn out to be unreliable and most people probably give up if they have not made a sale in the first three or so months. It is as this point that the painful realization of the complexity of the real estate market hits you. Before you venture out as an agent, it is therefore critically important that you pay attention to the following factors.
Your choice of sponsoring broker
I will emphasize this as I have in other posts. Your broker is your critical turning point and the choice that you make on the same could make or break your career. You need to choose a broker that is concerned about the success of the beginners. Some agencies place too much attention on the high earners and too little on those that earn nothing or earn too little, which is where you will be while starting out. It is therefore important that you choose a broker that will place emphasis on teaching you how to go about in the business even though you are not earning as much as the other agents.
Have backup income
You should never go into the business with the hope that you will earn a lot and your financial situation will be stable. In fact, for most businesses, this is never the case. If your sole financial is real estate, then you will very well be in a tight spot before you can settle everything. Make sure that you have a contingency in place before you start making your first sales. It is always important to have backup income, which is why I emphasized on using your website
or blog for affiliate marketing in one of my posts, even though that in itself takes time. The best way to approach this is to find another source of income, such as affiliate marketing, while still in WV real estate school so that by the time you obtain your license, your income source is stable and can generate enough to sustain you.
Lower your expectations
Many external factors influence whether you get to earn in your first few months. That is why it is never a good idea to just focus on internal factors. Sure, you passed all your exams and got your license but what about the real estate market conditions? Are there more sellers than buyers? Is there a sale cycle and if so, at what time of the cycle is your market at by the time you get your WV real estate license? Considering the fact that you do not know how the market is, and whether or not you could make great sales, you should not have extremely high expectations. Even so, that does not mean that you have no expectation at all. You should have goals and plans to achieve them. However, monitor your goals so that they do not come across as too extreme and ludicrous.
Not making a sale in your first months should not be your undoing. In fact, it should push you into doing more. You should always be determined and confident in your skills and choices. For your first months, you should place more emphasis on mentorship and learning the ropes. Sharpening your skill before you get into the market is a sure fire way of making great sales. Focus on progressive earning rather than expecting a one-off mega sale that will put you on the map. Marketing should also be a huge focus of yours at this point such as through websites, blogs and social media.
While earning yourself a WV real estate license is a remarkable feat, it is not a guarantee of success. Instead, there are other concerns outside of your WV real estate school that you should pay attention to.