Real Estate Tools Of The Trade: Getting Started

This post will be the third in a group of six about getting started using a real estate career. This write-up covers the “tools” you will need to have along with the “tools” that are nice to must help you be profitable in this career. We’ll briefly speak about developing a spending budget and issues you will need to acquire began as well as things it is possible to think about within the future.

Making a Spending budget. Given that you will be essentially beginning a business there will inevitably be some costs you’ll have. The first ones are of course your exam & licensing fees, too as dues you’ll most likely pay to belong to the local board of Realtor. Considering that these expenditures are mandatory we’ll skip talking about them. We’re talking more about the costs that you’ll incur resulting from doing company on a day to day basis. There are tons of businesses out there hoping to sell you leads, or advertizing opportunities, or “guaranteed” programs of how to obtain 10 listings in your 1st 60 days of being in enterprise. I wouldn’t think about these products until you’ve been inside the organization a minumum of one year. The most important thing to ask yourself when you get began is “Do I Need to have this product or service today?” If the answer is no then, take note of it and set it aside. Get some good experience and deals taking place and you may realize you don’t require those products at all.

Everyday Tools. The basic items that 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 help them provide better faster service to their clientele.

2. Use of a computer - If at all possible one with internet and a printer. You need to fill out and print forms online so it is possible to create listing and sales documents for your customers. Not to mention new listings will be in an online database provided by your MLS(multiple listing service) which you will definitely want.

3. Company Cards - The most simple of business marketing materials, but definitely a must have. Get high quality cards which are 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 using a large printing company that provides professional templates at a reasonable price.

4. Lock boxes, yard signs, electronic keys, a dependable 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 acquire an idea of what you’ll need to have to spend.

Additional Tools. These items you’ll want to think about getting 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’ll need to contact everyone you know and give them a new address. The best thing to do is purchase your own domain. Many agents choose their own name which can 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 obtain a high quality interactive site you are able to do one of two things. Your broker may give you a page on their main site, or you can get a basic 4-5 page site designed by a free lancer providing you with basic info about you and how to get in touch with you. Either is ok for starters.

3. CRM Tool - This stands for Customer/Client Relationship Management Tool. Basically it’s a software program that helps 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 you'll be able 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.

Thanks for reading. Please check out our next installment “Getting Began In Real Estate: Where To obtain Business” here.

To get more information about obtaining a real estate license in your state visit our site and get Virginia real estate licensing requirements.