7 Things They Wish They’d Known When Starting in Real Estate

Many experienced Realtors® probably know things now that they wish they’d known when first starting in the business. Whether you’re a new Realtor® or just curious, here’s what a few PAR officers wish they’d known before they started in real estate.

1. Cultivate Meaningful Relationships

“I wish I knew the importance of providing consistent and relevant information to my database,” Treasurer Eric Rehling says. “In other words, the importance of using a CRM, but not so much for all the bells and whistles it can provide. Rather, understanding the importance of having the discipline in the beginning to track conversations, past clients, etc., in order to build my client foundation. Just a better general awareness of the importance of consistent communication.”

“I thought marketing/branding was coming up with some funny or over the top idea that everyone would notice,” he adds. “I learned it is about cultivating meaningful relationships by providing consistent, quality information to the people you’ve met along the path of life.”

2. Join a Team

“Join a team,” First Vice President David Dean advises. “A team provides you with more support than some offices may.”

3. Understand and Articulate Your Value

“Understand and be able to articulate your value to both buyers and sellers when you meet them,” President-elect Bill Lublin shares. “Our job is to help them get the best terms and price while protecting them from potential litigation and minimizing the chance of their agreement falling through. That’s valuable to both buyers and sellers.”

4. Know Your Forms

“Know your forms and get everything in writing. Don’t rely on texts or phone conversations,” Lublin adds. “PAR has an amazing forms library, and knowing how to use those tools is invaluable.”

5. And Know Your Taxes

“I wish my broker would have offered a course on taxes,” Dean says. “There are so many financial aspects of owning your own business. For example, you have to pay both sides of FICA when filing taxes, while W-2 employees only pay one side.”

6. Keep Learning

“It is key for agents to keep working on their market knowledge and listening skills,” Lublin emphasizes. “Constant practice creates competency, and repeated acts of competency breed success.”

“Learn about all the financing types available to buyers in your area,” he also adds. “Many times, I made a transaction work because I knew how to help the buyer obtain financing, but other agents did not.”

7. Don’t Let the Cat Out

“On the lighter side, I wish I knew when showing instructions say don’t let the cat out, that usually means the cat has the reflexes of a cheetah,” Rehling shares with a laugh. “If you aren’t prepared to guard the door with everything you’ve got, you will spend three hours roaming the streets looking for said cat. First showing I ever had. Haven’t let one out since.”