Imagine a
straight line axis with two extreme personality attributes at opposite
ends: "analytical" versus "people-oriented."
Few of us are both highly analytical and highly people-oriented.
Instead, we fall somewhere in between. Analytical types are comfortable
with research and analysis, enjoy learning new technical skills,
and problem modeling and solving. People-oriented types are extroverts
by nature and prefer working with people rather than sitting behind
a desk.
Choosing Your Specialty
Certain real estate specializations tend to require
more of the analytical attribute, while others require more of the
people-oriented attribute. For example, appraisers, mortgage lenders,
corporate real estate managers and property managers must be strong
on the analytical side, with strong writing skills. Brokers and
leasing agents require strong interpersonal, negotiation and verbal
skills. Developers, commercial mortgage brokers, and real estate
consultants need a heavy dose of both. Which are you?
No matter what path you choose, you need to understand
that building a successful career in real estate takes time, money
and perhaps most importantly, patience. One thing anyone entering
real estate needs to realize is that before you can become successful,
you are going to have to be willing to work for peanuts. It is not
unusual for nearly half of those who enter the business to leave
it before they've completed their first year. That's because earnings
are based on sales commissions and those could take as long as six
months in some cases before they happen. Financially, some people
just cannot do it.
Your First Year in Real Estate Sales
While there are success stories of newcomers entering
the business and making six figures in their first year, more often
than not, most new agents don’t make that in their first year.
How successful you will be depends directly on how
much time and effort you put into it. To be fair to yourself and
the profession, plan to go at your new career full-time. Remember,
it takes time to build a clientele.
If you're wondering at this point whether or not you
have what it takes to make it in the real estate profession, take
heart. According to the top brokers and agents in the area, there
is no one stereotype that determines success. Success will depend
only on how driven you are. Because real estate is a people-to-people
business, though, people skills are important. A career in real
estate can be very rewarding both personally and financially. It
provides the flexibility and freedom for you to set your own pace. |
