Many real estate agents enter the real estate market each year attempting to know real estate so that they can represent their clients who expect that they know something about real estate. Some agents feel that they know real estate after they take their state exam because they don’t know any better. But the truth is that they don’t know real estate until many things transpire to make them a real estate agent and those things come from knowledge.
In this article, I will give you what I know to be the truth about learning real estate and give you some simple step by step instruction on what it takes to learn real estate and become the professional that is hired by the public to protect them. This is really simple but it requires a simple approach that can be tedious and boring to a salesperson. However, as a top agent in my field and the number one agent in Georgia, I can tell you, this is what has to be done if you are going to protect your client.
Learning real estate is a process
Real estate is a process of learning the system of the contract and the MLS. Here are the 7 steps to becoming good at what you do for a living:
- Read the Purchase and Sale Agreement 50 times or more over the course of the first month in the business. Apply questions of when, why, where, how to all paragraphs. Ask your real estate broker if they have a written test they could give you to make sure that you are comprehending the agreement.
- Study all addendums, exhibits and forms that can be added to the Purchase and Sale Agreement closely, applying the same questions as above to each and every paragraph.
- Study the MLS system so that you have a working knowledge of the MLS listing itself and the features of the system. Map out a few homes and then think what you will do to notify the seller that you are going to visit the home. Make a script and a process of how you will show the home, listing the steps from getting your lockbox key updated all the way to locking the house back up when you leave.
- Learn the mapping system that you will use. If you are using a GPS, map book or mapping software, make sure that you fully understand it’s flaws.
- Write a fake offer for a buyer pretending that you are representing them. Fill in all the blanks and ask yourself the questions that will represent this buyer well. This is where you ask your family members to help you. They make up a scenario and you represent them. Of course you are not going to send the offer to an agent.
- Study construction flaws of your area on the internet. However, remember that most state’s licensure for a real estate agent is limited to only the duties of an agent. This does not include making recommendations for repairs or being an inspector with your clients.
- Make a packet of information for your buyers showing that you are an expert and that you have thought of the information they need to make an education purchase.
If you do the simple things above, you will find that you will become an expert quickly. Almost everything you need to know is in the Purchase and Sale Agreement that your state uses. Many people attend continuing education and that is fine, but the rubber meets the road when you are an expert at representing your clients in a legal and binding document. Cairnhill 16