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Added: April 16, 2008
Article rating: 3.33 (of 5) - 3 votes

Getting Into Real Estate For The Long Haul

[ by Julia Vakulenko ]
When considering a future in real estate, start by asking yourself why. If you are dazzled by the easy hours and fat commissions you are not alone. Many people have attended class, passed the test and joined up with a broker in hopes of closing two or three deals per year, working part time, to make some extra money. Someone forgot to tell them that the hours are not easy when you are taking calls at all hours of the day and you have to be flexible and coordinate your hours with the buyers, sellers, title companies, home inspectors, meetings, etc. Those commission checks are not all that fat, either, once you take out your desk fees, supplies, dues, classes, and consider how much gas and time you spent driving around looking at houses. But don't be discouraged. Real estate can be enjoyable and rewarding if your expectations are realistic and you are prepared for challenges.

Here are some things to think about when considering real estate for the long haul.

You should first of all have an appreciation for architecture and land so that you enjoy what you do when you head out each day.

People skills. Do you have a good rapport with people and the patience to negotiate with them? Purchasing real estate is a big step for people and it is essential that they trust and understand you.

100% Commission! Can you budget your money? Are you able to manage if two or three months pass without closing a deal or receiving a check? You must be prepared for the lean times because they will come without fail. Many agents aren't prepared and are forced to drop out during these times to find other means of income.

Competition is fierce! You will be up against some tough characters. You need to be able to hold your own against them while maintaining your own integrity and sense of right and wrong.

Agent Burn Out. Many agents fade out of the picture, bruised and beaten. It is tempting, especially for a newer agent, to say "yes" to everyone and every thing. The problem is that not everyone and every thing turns into a deal and the agent spends countless hours driving around and perhaps even negotiating, without closing any deals. Even if you love looking at houses and you have the kindest customers in the world, spending all your time and resources with no return on your investment is devastating to your bank account and demoralizing to your spirit. You can't feel bad saying, "No".

There is a lot of money to be made in real estate and a lot of fun to be had. The rewards of helping individuals and families find their dream homes and impacting their lives in such positive ways will make you feel good and help sustain you between paychecks, but you have to learn to work smart and make the most of your time and resources. If you can do that, you are well on your way to a long, enjoyable and lucrative career in real estate.

Julia Vakulenko is a licensed broker associate with Tampa4U.com Realty. She has one of the hardest working Tampa Real Estate team in Florida specializing in Tampa Condos and also in2Va Team for Northern Virginia Real Estate.

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Current rating: 3.33 (of 5) - 3 votes
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