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Newly Licensed? Now What?!

Congratulations! You’ve passed your state exam. What’s next?

Complete your 45 Hour Post Licensing Education! It is important to get this out of the way early. Missing this deadline will result in loss of your license. You can not just reactivate your license, you will have to take the pre-licensing course and pass the state exam all over again! Don't let that happen to you, get the Post Licensing done ASAP.

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  1. Before you can start working as a real estate licensee you must register with a Broker or an Owner/Developer to work under.

You can work for a builder i.e. Owner/Developer, a Real Estate Broker or keep your license in referrals. You will not be able to perform any licensed activity until you register your license.

  • If you choose to work for an Owner/Developer that is a not a licensed broker, you will only be able sell properties owned by the Owner/Developer.
  • Working under a Broker will allow you to perform licensed activities in the state of Florida as agreed with your brokerage.
  • Putting your license in a referral brokerage will allow you to keep your license and receive commissions but will limit your licensed activity to referring customers only.
  • You can also keep your license in “voluntary inactive” status, but you will not be able to perform any licensed activity.

There are a lot of different options and brokerages out there and they all offer different benefits to new agents. This decision is entirely up to you and where you feel you fit best. Some brokerages offer training to new agents, some have very hands-on Brokers that will accompany you to your first listing appointment or closing, some offer free marketing materials or free websites, etc. so be sure to schedule interviews and do your research.

Check out our blog post "Interviewing Potential Brokers" for more information and what questions you should ask.

  1. After you have registered your license with a Broker you may be required to join your local Board of Realtors.

If your Broker is a member of their local Board of Realtors, you will be required to join one. You may join more than one board, but only if your Broker is a member. Having access to the board will give you access the MLS (Multiple Listing Service), a network of agents, and additional training. You cannot join the Board of Realtors if your Broker is not a member.

  1. Learn as much as you can. Now that you have met all the requirements to begin your Real Estate career you need on the job training. Your local board, brokerage and real estate school may offer training and education courses. Ask us about our Real Estate Accelerator course! Also available online.

New agents may want to consider joining an established “real estate team” within their brokerage, working as a buyers agent, or schedule one on one training with their Broker. Your Real Estate course is designed for you to pass the state exam but, there is a lot more involved to have a successful real estate career.

  1. Work your sphere of influence.

Your first customers are likely to be those close to you. This is your family and friends and people you see on a regular basis. You can use those close to you to practice performing a market analysis and listing appointment.

  1. View listings and attend open houses.

As a new agent, the best way to get to know your local housing market is to tour homes. An easy way to start viewing homes is to go to an open house. Use this as a learning experience and see what kinds of homes are available in different price ranges and what factors are determining price. Being around buyers may also help you learn what things are important to buyers and what features don’t add value to a home.

  1. Marketing

You are now an independent contractor working on commission. You will want to advertise your services. Things like business cards, post card mail outs and a working website can help you reach new customers for minimal cost. Look into services that allow you to track and keep in touch with your current and past customers and leads.

  1. Gather Resources and Points of Contacts

As you work through your first transactions you’ll find that you need the services of others. Depending on where you have your license, you may want to find someone within your Brokerage that has specialty knowledge. This could be someone with experience doing short sales, property management, or working with first time home buyers. You may also want to gather a list of vendors. Some helpful contacts include:

  • Home Inspector
  • Lender
  • Insurance Provider
  • Photographer
  • Sign Installer
  • Handymen
  • Roofers
  • Plumber
  • Pest Control Companies
  • Appraiser
  • Home Warranty providers
  • Electricians
  • Lawn Care Companies
  • Pool Care Companies

You may also want to get a list of local service providers for customers that are new to the area. This should include water, electric, trash, natural gas, cable, internet, phone, storage, movers and if applicable to your area marinas.

  1. Become a local expert.

Remember, customers have hired you for your knowledge and expertise. Try to become a local expert. Get to know the different neighborhoods, their features, landmarks, schools and hospitals. This will help you find the right home for your buyers and help you better market and sell any listing you have. Your customers will also appreciate an agent that can give accurate directions.

  1. Make a business plan.

While you work under a Broker, you are an independent contractor. If you are not working as an hourly or salaried assistant, you will be paid commissions as an independent contractor. Don’t forget you will have to set money aside for taxes and will only be paid if you make a sale. Make sure to save all of your receipts!

Take the time to figure out how many leads you need to get, calls you need to make, marketing you need to do, listings you need to get, how many houses you need to sell to make your desired income. You may want to consider working for your Broker as a buyer’s agent or working for a Broker that provides leads until you can grow your sphere of influence. It will take time to grow your business.

  1. Don’t get discouraged!

Any new business needs time to grow. Never say no to training and education. This is true no matter what you do. Be willing to work hard. A career in Real Estate can be very rewarding and allow for a lot of freedom but it takes years to develop your brand and customer base. This is where it is important to have a helpful brokerage with systems and services to support new agents and help them reach their goals.

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