7M Sports

Have you decided to pursue a career in real estate? Congratulations! There are many positive aspects to becoming a real estate agent, such as being your own boss, setting flexible hours around your schedule, the potential to make a good living, and the opportunity to help excited homebuyers find the home of their dreams.

All of this may sound great to you, but you may also be wondering where exactly to begin. This guide will help you learn how to get into real estate and start your career in 10 easy steps.

Step 1: Research your state’s licensing requirements

Every state requires agents to be licensed, but the licensing requirements vary from state to state. The first step to getting into real estate is to find out what your state’s requirements are and follow them. If you live in a metropolitan area that borders two states, it may be worth your while to become licensed in both states so that you can serve a variety of clients in your area.

A few standard requirements for becoming an agent are that you live in the United States, are at least 18 or 19 years old (depending on the state requirements), have completed a pre-licensing class, and passed the real estate exam. Because each state has different education requirements, the timeline for obtaining a license can vary greatly. Learn how long it takes to get a real estate license.

Step 2: Enroll in and take a pre-licensing course

As you learn how to get into real estate, know there are different options for completing your pre-licensing course. It’s important to choose the course that’s right for you. Some classes are offered online, while others are in-person. Depending on the type of in-person class, one may offer instruction multiple nights per week for several weeks, while others are only available during the day in eight-hour segments. The daily classes cover all the same material but are a way to complete your course quickly.

It's equally important that you find a reputable real estate school for your pre-licensing course. If you've been speaking to a broker or brokers in preparation for your new career, ask one of them who they recommend. Sometimes real estate firms provide the course, but so do technical schools, universities, and training programs specifically set up as real estate schools.

Step 3: Apply to take the real estate licensing exam

The licensing exam is the culmination of all your classroom work. You’ve put in all the hours of instruction, so be sure to carefully follow your state’s regulations about registering for and taking the exam.

Some states allow only a certain amount of time between the date you finish your pre-licensing class and when you can sit for your exam. Other states require fingerprinting and a background check before you can take the exam. All the details specific to your state will be addressed within your state’s real estate regulatory commission, including the amount charged to take the exam.

Step 4: Pass the licensing exam

You're nearing the finish line, and you want to finish strong. That means you’ll need to prepare for the exam. Although you’ve completed the coursework and applied to take the exam, that's just the beginning. Studying and being ready to test is a must, and you'll need to set aside exam study time to be prepared.

If you don’t pass the exam on the first attempt, don’t worry. This is common. There are exam prep classes you can take for additional help in passing the test. These classes include practice exams which help you identify any portion of the material you may need to focus on to be better prepared for the test.

Step 5: Join a real estate brokerage

Congratulations on passing your real estate exam! However, passing the exam doesn't mean you can immediately start working with clients. Real estate agents are only licensed to act on behalf of a broker, so you'll need to find a brokerage that’s right for you.

There are many considerations when looking for the “right” brokerage. Things like how the commission is split, what type of training they offer, how much support they give agents, and of course, their reputation. Another consideration is whether you want to be self-employed or apply at a brokerage like 7M Sports, where agents are employees with benefits. When getting into real estate, you may want to interview several brokerages to guide you in your decision-making process.

Step 6: Activate your real estate agent license

Once you find the right brokerage, you'll sit down with them and complete the final paperwork for your state. Afterward, the state will activate your license, and you'll then be able to practice real estate with your brokerage’s sponsorship.

Step 7: Write out your business plan

If you're a self-employed agent, you'll need a plan. A business plan is the roadmap for your real estate career and is a very important part of getting started in the right direction. There are many books available about business plans, as well as sample plans and templates you can access online. The has suggestions for writing your plan.

If you're an employee agent at 7M Sports, you likely won't need a business plan since the company manages the business side of things.

Step 8: Get to know the housing market

Understanding what’s happening in the real estate market isn’t just about knowing the value of homes in your area. It’s equally important to know what’s happening in the US housing market because issues affecting the country as a whole can, and do, impact specific locations. Some variables that affect the market are current (and anticipated) , how the economy and job markets are faring, and the overall supply of housing compared to the amount of demand from buyers.

Step 9: Implement a marketing plan

To begin building your real estate business, you need a marketing plan. Unlike your business plan, which encompasses the whole of your business as a real estate agent, your marketing plan is your roadmap for advertising your services and for securing real estate leads.

New agents usually begin their marketing campaign by reaching out to “warm” contacts. These are people you know, such as friends, family, former coworkers, or even your dentist or mailman. By letting these people know you're a licensed agent ready to get to work, you're also reaching their circle of friends and family. Another way to reach people is through social media, telling the world you’re a new agent and posting helpful tips about the housing market. You can also start a blog and choose an area or subdivision to write about, mail out current market information, and become the neighborhood's “go-to” real estate professional.

Many real estate agents also pay for 'leads.' A lead is the name and contact information for someone who could be a potential client. 7M Sports Agents don't pay for leads because most of their clients come from the 7M Sports website and ads.

Step 10: Keep learning and be ready to adapt to a changing landscape

One of the most important facets of any career, and real estate is no exception, is to continue growing and learning about the industry. Realtors are often required to take a certain number of CE (Continuing Education) classes per year. These are a great way to stay knowledgeable about the current market and industry trends.

Real estate is an ever-changing field with variables such as interest rates (high or low), underwriting guidelines (more stringent or loose), or changes in government-backed mortgage programs. There is always something to keep up with, even after you’ve learned how to get into real estate.

Congratulations on your decision to get into real estate. With these suggestions and a great work ethic, you will be on your way to a wonderful new real estate career in no time.