Tuesday, August 11, 2015
With pending home sales continuing to rise and reaching their highest level in over nine years nationally while also increasing by 23 percent locally, now is an excellent time to consider a career in real estate says President and CEO of Coldwell Banker Hearthside, REALTORS® Jamie Mancuso.
Here are Jamie's top 10 reasons to consider this growing career now:
1. Strike while the iron is...healthy! – The current real estate market is healthy, competitive and perfect for new agents but it’s not overheated. He advises not to start a real estate career on a major market uptick because there is no time to learn what it takes to be successful. Similarly, joining in a major downturn is also not the time to learn the business. A healthy and steadily growing market is the perfect time to start a career in real estate.
2. Learn the right skills to be successful – He learned years ago that proper training is crucial because it prepares you for the ups and downs of the market. He says anyone can sell real estate in a good market but it takes great agents to sell in a challenging market.
3. Be proud to be in real estate – To be successful in real estate, you can’t be afraid to say that you’re in real estate. This business is about putting yourself out there in the community and being the go-to person for people in your area. He looks for someone who is comfortable and confident enough to go out into the community and say “think of me when you’re thinking about real estate.”
4. Each personality has value – Contrary to popular belief there is not a singular trait that makes someone inherently more successful in real estate than another. When he looks at the top 30 CBH agents, every single one of them is different. Some are very detail-oriented, others are very social and will bend over backwards for clients. At the end of the day, they might do the same amount of business because different people are attracted to different.
5. Be your own boss – In real estate, you are able to come and go as you please and set your own hours. For the minimal amount that you need to put into the business you can really maximize your income. There aren’t many other businesses out there where you can make as much as you can in real estate.
6. Great ROI – Real estate offers agents a fantastic return on investment. It takes 60 hours of class in Pennsylvania to get your real estate license and roughly $1,500 to $2,000 annually to stay in the business. The sky is the limit to what you can make on that relatively small investment in starting your own business.
7. Get Your Feet Wet before Jumping In – Starting out on a part-time basis is a great way to learn and educate yourself on the business. It’s a great opportunity to get your feet wet and see if it really is something you enjoy doing. Jamie estimates that a high percentage of agents new to the industry start on a part-time basis and work their way into a full-time position.
8. Calling All Millennials! Best time to start is in your mid-20s - The best time to get into the business is in your mid-20s when your friends are thinking about buying a home usually after getting married. Jamie was in his early 20s when he got into the business and he saw waves of people looking for houses and not too much later those same people were looking to buy/sell perhaps due to the birth of a first child. This leads to lifelong real estate relationships and helps build a strong foundation for success.
9. Be Creative – Real estate offers agents an entrepreneurial experience to be as creative as they want. Creativity is definitely paying dividends in this business right now. In previous years, you felt that you had to follow the generation in front of you. Now with social media and blogging, the game has been forever changed. CBH offers its agents a state-of-the-art marketing center as well as sales and marketing assistance, including: posting listings, blogs and social media as well as regular training programs.
10. Run your own business with the full support of a brokerage - The hardest part of real estate is all of the behind the scenes work, such as: negotiations, inspections, paperwork, mortgage companies and entitlement companies. The perception of the real estate business is that you run around and show houses. That’s the easy part. The hard part is putting all of the paperwork and logistics together. With the support of a company like CBH, managing these details is more manageable and obtainable for our agents.