How to Become a Successful Realtor

The real estate business can be fun, exciting and a very satisfying career. However, you have to make it through that first year or two to make it all happen down the road. Have a plan, build a database of prospects, and work hard to find the keys to success at becoming a real estate agent. Pay attention to the items below and avoid being one of the the large group of agents who fail to make it in the business because they don't plan ahead.

Have a Backup Income Source

Becoming a real estate agent part time may not have been your plan, but you need to have the ability to pay your bills while you get started. The majority of agents who fail do so in their first or second year in the business. You should have enough money saved up to make it for at least six months without a commission or keep your day job for a while.

Get a Mentor

The test isn't what you need for success when becoming a real estate agent. You need it for the license, but you need a lot more to make this business a success. Get a successful agent or broker for a mentor, or offer to assist them in their deals. There is much to learn about the process, and it's not all about "selling." You're going to need to understand and explain surveys, title insurance, liens, encumbrances, deeds, and much more. You'll feel much more capable if you've at least seen these documents in the course of a few real estate deals.

Start Building Your "Sphere of Influence"

Becoming a real estate agent is just the very first step in a long career of working with buyers, sellers, investors, appraisers, loan officers, mortgage brokers, inspectors, title companies and others. Start out right by finding a good contact management system in which you'll enter all of these contacts and prospects. You'll want to follow up over time, and you'll need an efficient way in which to locate the information you've filed away on prospects and contacts.

Start Out Right with Technology and the Internet

You need the Internet to market in today's real estate world. While some with many years in the business can continue to succeed due to referrals and past business over the years, you'll need to use your website and social networking to get a foothold with today's buyers and sellers. Budget for a good web presence, though it need not be expensive.

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