How to Build a Career as a Realtor?

“Entry” into the profession of “realtor” is not regulated in any way. What does it mean? Any person can become a realtor overnight, that is, for some it is enough to sell their apartment. And they already consider themselves a realtor. Oddly enough, in order to become a full-fledged specialist in the field of real estate, you need to study, however, far from at the desks in cozy offices. In this article we will try to share some tips that are worth following if your goal is to grow in this profession. 

If you have already started your training and you live in or around Chicago, you can start searching for entry level real estate jobs Chicago

Let’s get started…

Until you get dumped, you are not a realtor

The most common phrase used by both clients and realtors: “Conscience? No, have not heard”. What does it mean? It is a game. The client is trying to deceive the realtor. For example, do not pay commissions or pay less than agreed. The realtor tries to solve the client’s issue quickly, and not qualitatively. There is even a saying among realtors: “Until you are thrown, you are not a realtor.”

Part-time work at your expense

It’s funny to read about part-time jobs in a real estate agency. Most people buy and sell apartments once in a lifetime. And then some trainee slightly “cheated” with your documents and several million of your rubles.

My Start

As you know, the lowest class that many real estate professionals start with is hiring. This is the shortest cycle of work, but also the “dirtiest” one, in some cases, even humiliating. When I say “hiring,” a picture pops up in my memory – St. Petersburg winter, 11 o’clock in the evening, and I stand on the other side of the city and show the apartment to the client. Then the deal went through. The client got into his warm car, and I walked for half an hour through deserted courtyards towards the metro. The only thing that kept me warm was 25 thousand dollars in commissions and a temperature of 39 for the New Year.

Going to the second level

The next segment is the sale of “secondary housing”. Most often, secondary realtors are women. Nature has endowed them with vitality, attention, and their nerves are stronger. Unlike men, women are better adapted to monotonous work. For example, documents, negotiations are quite tedious business.

The transition to this stratum, as a rule, is marked by unexpected calls from customers. They suddenly start asking for help to buy or sell an apartment. From that moment on, rent gradually disappears from the horizon. It simply cannot be combined with other activities. She, like a comet, sweeps over your head so quickly that you do not have time to make a wish.

Secondaries are slow and imposing. Now they have a different pace, as well as earnings. According to statistics, the commission of a realtor in the secondary market is 3-4 percent of the value of the object. The average cost of an object in St. Petersburg in this market is about seven million rubles. Thus, the agent receives 200-250 thousand rubles from one object. A good specialist can conduct from 2 to 7 transactions per month.

“Zagorodka” and “commerce”

Realtors working with suburban or commercial real estate can be classified as specialists of the third level. The exposure period of the object on this market is much longer. For example, in my practice, there was a story about the sale of a restaurant that lasted 3.5 years. As a result, of course, I got good commissions, but patience is required here 99 level.

In addition, an important element of success in working with business representatives is the need to learn to understand them. After all, businessmen are specific people. If a person masters all the necessary skills, then his average earnings grows. For example, by making a deal with a commercial object, you can get a commission in the amount of 500-700 thousand. Sometimes – a couple of million rubles.

Another world

Realtors who work in the luxury real estate market and private sales end up in another world, the world of big money. The minimum commissions here range from 3 to 5 million rubles per month. When the income becomes an order of magnitude higher, thinking changes noticeably. I experienced it myself. A person begins to look differently and evaluate what is happening. The main thing is not to play too much, because it is much more difficult to climb back.

In this market, realtors work not just with apartments, but with exclusive properties, the cost of which sometimes exceeds billions of dollars.

We hope you have liked our suggestions in this article. Thanks for your time and company!

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