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Top 3 Lessons for New Real Estate Licensees

2020-11-07T22:40:52-05:00

November 12, 2o20

Maybe it’s because Garden State Real Estate Academy only hires instructors with decades of REAL industry sales success, but many of the questions we get have nothing to do with getting a real estate license. Their questions often surround the lifestyle of a real estate career and what their income potential could be once they are engaged in that career as REALTORS®.

Real Estate Express publishes an annual report called “Real Estate Income Guide.” The most recent “2019-2020 Income Guide” was compiled from a survey taken among almost 2,000 agents who had taken continuing education courses with McKissock Learning. Here are some excerpts from their most recent publication.  The responses from the previous year are shown in parentheses.

What brokers look for in new agents.

Brokers are almost always looking for new agents. The survey asked brokers to describe the three most important attributes that they look for in newly licensed recruits. Those characteristics are:

  1. Can consistently deliver superior customer or client experience. 55.9%
  2. Have people skills. 41.3%
  3. A strong social network and ability to network. 19.6%

No matter which New Jersey real estate school you choose, before you know it, you will be interviewing with a broker.

What agents look for when selecting a brokerage.

The report found the three most important reasons an agent chose their brokerage were:

  1. Commission split.
  2. Brokerage reputation.
  3. Brokerage culture.

What are the secrets of the top producers?

  1. They never stop lead generating.
  2. They focus on listings. The more right-priced listings an agent has, the more money they will earn. Guaranteed.
  3. Control your expenses. As soon as agents earn their license, they are inundated with get-rich-quick proposals from lead-generation firms and various other scammers. Every dime an agent spends on marketing or promotion should be held accountable to see what its rate of return is. NEVER commit to a contract with an unknown vendor that does not have an escape clause after 30 days if their promises fall flat. If the company is prepared to stand by its claims, why would it even hesitate to give you that?
  4. Make training and education a career-long commitment.

Ready to start YOUR real estate career? Have questions about getting started? Garden State Real Estate Academy is New Jersey’s top-ranked real estate school. You can numerous helpful free articles—and you can register for our day or evening pre-licensing classes—at www.GSREacademy.com.

I am grateful to Real Estate Express for providing the above information. You can visit them at their website: www.RealEstateExpress.com/income

David C. Forward is a licensed real estate broker and instructor and was first licensed as a Realtor® 32 years ago. During his career, David and his business partner sold more than 500 homes in South Jersey.  He is now School Director of Garden Real Estate Academy, has won numerous awards for real estate sales, is a much-requested public speaker who has addressed audiences on six continents and is the author of 16 books.