Buying, selling and investing in real estate involve complex transactions and high financial considerations. Given this, buyers, lenders and investors usually ask the help of real estate agents and real estate brokers to help them in their real estate needs. This is because real estate brokers and agents possess a thorough knowledge of the real estate market. They are also familiar with local zoning and tax laws and with financing agencies. In some cases, agents and brokers also act as intermediaries in the negotiations between buyers and sellers on the price of the property.Becoming an agent or a brokerBeing a real estate agent or a broker has proven to be a lucrative source of income for those practicing this profession and most estimates show that in the near future, the number of real estate agents and brokers will continue to rise because of this fact. However, becoming a real estate agent or broker requires that potential agents be at least 18 years of age, a high school graduate and be able to pass the state exam. The state exams, which is usually more comprehensive for brokers include questions on real estate transaction and relevant real estate laws.If you wish to become an agent or a broker in the United States, you must be informed on the different requirement of the different states with regard to licensing. In most of the states, it is required that potential agents must complete between thirty to ninety hours of classroom instruction. For brokers, they are usually required to undergo sixty to ninety hours of formal training together with a required amount of experience in real estate transactions, which range from one to three years. Most of the courses in the training include subjects on marketing, accounting, and a substantial amount of courses in real estate, finance and real estate laws.Most states require that these licenses be renewed every one or two years. However, instead of requiring agents to take new exams, some states require continuing education for agents and brokers for them to be able to renew their licenses.Where to enrollGiven the demand for real estate training, a large of number of rims has been set up to provide such services. These firms cater to both beginners and experienced agents and brokers for their specific training needs. Apart from the traditional institutions such as universities and colleges, potential brokers and agents can also look to the Internet for online courses. As the number of agents and brokers who wish to get formal training on real estate continue to increase, the importance of institutions that provide these training will further be highlighted.
One of the keys to success in the real estate world is building a strong investor list, otherwise known as a buyers list. When you have a solid buyers list, you can build a stronger career with the contacts and connections that you need to consistently perform well in the real estate market.Simply put, if you can find a list of investors who will always be interested in buying new houses, you can help these specific investors find the houses they want. When you start to learn more about your specific investors, you can find inventory and houses that will appeal to their specific tastes, making it more likely for them to work with you time after time.With a strong buyers list, you can go out in the market and find a number of great choices in inventory to make you more successful. In all, it’s important to have a good buyers list in order to be more profitable. Also, these investors will realize that you are an expert in the real estate market. They will return to you frequently to see what you have available for them. You will be seen as the first step towards their success and this ensures you will remain popular. The more people in your buyers list and in your network in general, the better for you. You will be able to sell house after house to the people who are consistently looking for new properties in your area.Make your buyers list work for you. In order to have the most success possible, it pays to remember the following easy acronym: ITS MAGIC.I – IdentityWhy will people remember you? Why will they choose to go to you versus all the other investors and real estate “experts” in the field? You need to set yourself apart. When you meet future investors, other members of your local real estate clubs and even the strangers you meet in the grocery store, you need to leave them remembering your identity and admiring your personality. You want them to return to you time after time so making yourself as affable as possible is integral to your success. Have a signature action, a signature saying or a signature piece of clothing that will make people remember who you are. Once they remember you, you can help them by selling more and more houses.T – Title RecordsIf you can make the process of getting title records easier, you will be more invaluable in the marketplace. Get access to local real estate records through title companies or other real estate brokers to get the information you need. If you pay attention to the names on the title records, you can see which investors are snapping up homes often. By highlighting these individuals, you can start to build your buyers list.S – Signs on the StreetPromotions and advertising will help you find the people that are snatching up houses. Call the businesses that promise to buy the ugliest house on the block. Are they really buying houses? If so, note the business and the decision makers in this group to put on your buyers list for future real estate deals.M – MarketingPromotions and advertising will get YOUR name out there as well. Get a good business card and brochure to help promote your business. You can leave your information at title companies and everywhere else that could catch the eyes of your future investors. You should look to hand out hundreds of business cards each month. Join clubs. Find out where real estate investors are and put your name in front of them to get your name out there.A – AuctionsGo to local auctions to find the investors that are looking for new real estate properties. Pass out your card and pay attention to see who is consistently shopping for new properties. Meet people and remember names. You’ll build your homes buyers list easier this way.G – GroupsJoin local groups and meetings. You can find a number of investors or potential investors. Help a great potential investor and you could find yourself with a gold mine down the road. You never know when your biggest investor will come across your path.I – InternetThe Internet is a gold mine filled with investor leads and tips to help people like you build your buyers list. Look to real estate forums and discussion groups. Even if you meet other people in faraway states, keep track of them in case you move or they move in the future.C – Clubs, specifically Real Estate ClubsReal estate investor clubs are going to be the best place to build your buyers list, especially in the beginning. Pass out your business cards here and show off your established identity. You can find a number of real estate clubs near you to attend.Taking the time to build and maintain a strong buyers list is one of the biggest mistakes I see investors make on a daily basis. Spend the extra time to build your personal buyers list and watch your business soar.