First you take (and pass) a real estate course specific to your state. Then, you schedule the real deal – a 3 hour test (in NC) that tests your knowledge regarding: Federal and state laws, commission rules, contracts, agency relationships, depreciation, appraisal methods, survey methods, net operating income, interest calculations, mortgage types and clauses, deeds, appurtenances, government police power, etc. etc. So much material, barely enough time.
With that being said, there are so many concepts and aspects of running a real estate business that are not taught in real estate school. I may have just surprised you by insinuating that you are in affect running your own real estate business. Yes, it’s your business and in the words of Robert Shuller, “If It’s Going To Be, It’s Up To Me.”
After all, once you got your real estate license, how did you see this whole real estate gig working out? Did you picture yourself signing on with one of the national brokerages and going to the office everyday as you did when you had a “real job”? You’re disciplined enough to show up early every day and be the first one to your desk every morning. Now what? Be honest. Did you even realize the job is 100% commission-based?
Well surprise! You have NOT entered the real estate business. You have entered the lead generation business. It truly doesn’t even matter what you are selling. Oops..another Freudian slip! You are a sales person whose primary job responsibility is lead generation. There, I said it.
Please don’t misunderstand me. You may be taking this as a negative and for the majority of Americans, it is a negative because they do not want to take responsibility for being in business for themselves. If that’s your attitude then don’t you think it’s better to find out sooner than later? If this sounds like you, then you probably do not want to be a real estate agent.
Ultimately, as a real estate agent, you are in business for yourself. And according to management guru Peter Drucker, there is only one true purpose of a business: to generate a customer. I rest my case, welcome to the lead generation business. Start generating leads my fellow real estate agents. More on this later.