Are you looking to learn how to become a realtor? Then you must first get to understand the real estate market and your role as a realtor.
A realtor guides people through renting, buying and selling commercial and residential properties. They can help clients find properties that meet their preferences, negotiate with buyers and sellers, and draft contracts to finalise the purchase. So these are the basic responsibilities of a realtor, amongst many others.
However, while the job may seem straightforward, it’s not something anyone can jump on. You need some education, experience and some licences to join the industry, and this article is the ultimate guide that will teach you how to become a realtor even if you don’t have any prior experience.
Get Training and Certification
As an aspiring realtor, you must first get trained on what the job entails. In most states, you will be required to be 18 years and above, and although a specific degree is not necessary to work in this field, you should have at least a high school certificate.
It will also help if you have a degree in related fields, like estate management, accounting, business administration, marketing, etc. So you will have the basic skills you need to succeed as a realtor. However, if you do not have a related degree, it is still possible to take real estate courses, and you will get all the knowledge you need for excellence.
After getting certified, it is advisable to get practical experience by joining a real estate firm as an intern or staff to see the day-to-day business operations of a real estate company.
Write a Business Plan
Now, if you understand the real estate market and your roles as a realtor, it’s time to plan to start your own business.
The real estate business is very competitive, so you need a strategic plan to become successful. It would be best to plan for funds, marketing strategies, investment opportunities, available market and target audience. You can also hire an expert to write your business plan but ensure it has all the necessities to start and run a real estate business.
Register Your Business
Of course, we can’t discuss how to become a realtor without business registration because ensuring that the appropriate authorities legally recognise your business is very important. For this step, you need to prepare your unique business name and decide what type of business entity you want. This registration will go a long way to help gain the trust of your prospective customers.
Obtain the Necessary Licence
There are so many unlicensed realtors out there; if an issue arises, they may incur losses, and even when caught by the authorities, they may lose the business they have suffered to build. So you do not want to be among these people since you are just starting your business. This is the best time to get all the necessary licences.
Depending on your state or region, you will need to get the application form and pay the application fee; when your licence is processed, you can finally join the legit realtors in your state. You will have an edge over those without licences.
Get an Office Space
Although not every realtor has an office, getting one for yourself is vital; it makes your business appear professional and trustworthy. Having an office gives you more stability as you run your day-to-day business operations, makes you easily accessible, and allows you to negotiate better deals and earn more money. So you can start with a big or small office with enough space for your employees if you plan to have staff.
Create Your Brand
Branding allows you to decide how you want to be perceived by your target audience; your branding will give your customers a brief overview of your business. Some real estate firms deal with luxury properties and apartments, and you can tell from their branding.
It would be best if you had a brand as a realtor; this will include a business name, logo, colour codes, overall packaging, designs, website, etc. Make every aspect of your business stand out and grow your reputation from there.
Even if you have the biggest office or the highest number of staff, if you don’t get clients, everything you have done so far to become a realtor will all be for nothing. Although it is possible to get a few people to locate your business by themselves, you need as many clients as possible, so you must invest in marketing.
You can utilise social media marketing, influencer marketing, referral programs, affiliate marketing, promotions, etc. Just make sure you create traffic for your business both online and offline.
Join a Real Estate Association
Another very effective way to get clients in the real estate market and ensure you are running your business within the legal framework of your state is to join the real estate associations in your region.
Real estate organisations, such as the Real Estate developers association of Nigeria (REDAN) and the Association of Estate Agents in Nigeria (AEAN), are essential groups you should be part of.
They have rules and regulations guiding the profession, and they can also stand by you in times of disputes and misunderstandings. You will be able to grow your network and have access to different information that will help your business grow.
See also: Land Investing in Nigeria
If you have followed this guide to this point, you are one step closer to becoming a successful realtor. The real estate market is very lucrative if you know what you are doing, so even when you become established, do not fail to keep up with trends and keep building yourself. Take additional courses and keep learning about the business to help you quickly become a highly sought-after realtor.
In addition, do not forget that this industry is very competitive, so you must stand out and provide exceptional services that will keep your clients keep your clients coming back for more.