This post third in a group of six about getting started using a real estate career. This article covers the "tools" you will want along with the "tools" that are nice to have to assist you be productive in this career. We'll briefly discuss making a spending budget and items you will want to acquire began also as things you are able to contemplate in the future.
Developing a Budget. Given that you're essentially beginning a enterprise there will inevitably be some expenditures you'll have. The very first ones are of course your exam & licensing fees, also as dues you'll most likely pay to belong to the local board of Realtor. Because these costs are mandatory we'll skip talking about them. We're talking more about the costs that you will incur as a result of doing enterprise on a day to day basis. There are tons of businesses out there planning to sell you leads, or advertizing opportunities, or "guaranteed" programs of how to obtain 10 listings in your very first 60 days of being in enterprise. I wouldn't consider these products until you've been within the business a minimum of one year. The most important thing to ask yourself when you get began is "Do I Need this product or service today?" If the response is no then, take note of it and set it aside. Get some experience and deals going on and you will realize you don't want those products at all.
Everyday Tools. The basic items which most real estate agents use every day are:
1. A mobile phone - Most agents have smart phones with internet connectivity so they can get e-mail, view online data, and use applications that assist them provide better faster service to their clientele.
2. Use of a computer - If possible one with internet and a printer. You want to fill out and print forms online so it is possible to create listing and sales documents for your customers. Not to mention all new listings will appear in an online database provided by your MLS(multiple listing service) which you will definitely want.
3. Business Cards - The most simple of company marketing materials, but definitely a must have. Get high quality cards which might be professionally designed, not the perforated ones you buy at the local office shop. Those are cheap and it people will subconsciously connect that to you and your service. Most brokerage companies have a relationship with a large printer which provides professional templates at a reasonable price.
4. Lock boxes, yard signs, electronic keys, a reliable vehicle. This list needs no full explanation but to typically cost a fair amount of money so you'll want to look carefully and shop around. Ask around the office to see where other agents get their products and how much they pay to get an idea of what you'll want to spend.
Additional Tools. These items you'll want to consider acquiring eventually if not right away.
1. Professionally branded e-mail address. Many brokerages provide you with an email on their domain, i.e. billsmith@abcrealty.com. This is great, but what happens if you leave ABC Realty. You will must contact everyone you know and give them a new address. The best thing to do is buy your own domain. Many agents choose their own name which may be a good option. Domains are cheap i.e. $10 annually and you usually get an email address or two for free with it.
2. Your own website. Professionally designed websites can be expensive, so until you have the couple thousand it will take to acquire a high quality interactive site you are able to do one of two issues. Your broker may give you a page on their main site, or it is possible to get a basic 4-5 page site produced by a free lancer that provides basic details about you and how to acquire in touch with you. Either is fine for starters.
3. CRM Tool - This stands for Customer/Client Relationship Management Tool. Basically it's an application program which enables you keep your contacts and activities organized. While they are a fantastic tool they do tend to be expensive and are often a monthly recurring bill. If it is possible to afford paying $30 or so a month for the service then I would strongly recommend it. There are many real estate specific programs like Top Producer, ACT, etc. Thank you for reading. Please check out our next installment "Getting Began In Real Estate: Where To acquire Business".
Developing a Budget. Given that you're essentially beginning a enterprise there will inevitably be some expenditures you'll have. The very first ones are of course your exam & licensing fees, also as dues you'll most likely pay to belong to the local board of Realtor. Because these costs are mandatory we'll skip talking about them. We're talking more about the costs that you will incur as a result of doing enterprise on a day to day basis. There are tons of businesses out there planning to sell you leads, or advertizing opportunities, or "guaranteed" programs of how to obtain 10 listings in your very first 60 days of being in enterprise. I wouldn't consider these products until you've been within the business a minimum of one year. The most important thing to ask yourself when you get began is "Do I Need this product or service today?" If the response is no then, take note of it and set it aside. Get some experience and deals going on and you will realize you don't want those products at all.
Everyday Tools. The basic items which most real estate agents use every day are:
1. A mobile phone - Most agents have smart phones with internet connectivity so they can get e-mail, view online data, and use applications that assist them provide better faster service to their clientele.
2. Use of a computer - If possible one with internet and a printer. You want to fill out and print forms online so it is possible to create listing and sales documents for your customers. Not to mention all new listings will appear in an online database provided by your MLS(multiple listing service) which you will definitely want.
3. Business Cards - The most simple of company marketing materials, but definitely a must have. Get high quality cards which might be professionally designed, not the perforated ones you buy at the local office shop. Those are cheap and it people will subconsciously connect that to you and your service. Most brokerage companies have a relationship with a large printer which provides professional templates at a reasonable price.
4. Lock boxes, yard signs, electronic keys, a reliable vehicle. This list needs no full explanation but to typically cost a fair amount of money so you'll want to look carefully and shop around. Ask around the office to see where other agents get their products and how much they pay to get an idea of what you'll want to spend.
Additional Tools. These items you'll want to consider acquiring eventually if not right away.
1. Professionally branded e-mail address. Many brokerages provide you with an email on their domain, i.e. billsmith@abcrealty.com. This is great, but what happens if you leave ABC Realty. You will must contact everyone you know and give them a new address. The best thing to do is buy your own domain. Many agents choose their own name which may be a good option. Domains are cheap i.e. $10 annually and you usually get an email address or two for free with it.
2. Your own website. Professionally designed websites can be expensive, so until you have the couple thousand it will take to acquire a high quality interactive site you are able to do one of two issues. Your broker may give you a page on their main site, or it is possible to get a basic 4-5 page site produced by a free lancer that provides basic details about you and how to acquire in touch with you. Either is fine for starters.
3. CRM Tool - This stands for Customer/Client Relationship Management Tool. Basically it's an application program which enables you keep your contacts and activities organized. While they are a fantastic tool they do tend to be expensive and are often a monthly recurring bill. If it is possible to afford paying $30 or so a month for the service then I would strongly recommend it. There are many real estate specific programs like Top Producer, ACT, etc. Thank you for reading. Please check out our next installment "Getting Began In Real Estate: Where To acquire Business".
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