Breaking Into Real Estate Sales

Reality: Obtaining a real estate license is relatively easy, but breaking into the field is not. That’s because the field is competitive, and it takes time to establish a business.

No experience is required to enter the field, but real estate education and training are; along with the need to be people oriented, entrepreneurial, organized, tech savvy and serious about real estate as a career. That's according to local real estate experts June Wiener and Lance Berwald.

“Many people get into the field expecting quick and easy money, but it takes at least a year to establish your business,” says Wiener, president, Saint Paul Area Association of Realtors and realtor, Cardinal Realty, Oakdale.

“It also takes money to educate yourself and market your business. Most realtors are paid on commission with no benefits, which can be challenging for some new agents.”

Field Competitive And Unpredictable

Berwald, Vice President and Realtor, Coldwell Banker Burnet, Cottage Grove-Hastings, echoes that sentiment.

“Real estate is an unpredictable, competitive business, and you won’t reap the benefits until one or two years down the road. It also requires technology and people skills. The biggest challenges are setting business goals, creating a business plan, staying current on real estate trends and riding the inevitable ups and downs of the marketplace,” he says.

“Obviously, this means more competition for realtors, especially new agents. Competition for buyers and sellers is also fierce,” says Wiener. “The change in the current housing market also increases competition. Despite this, I believe the industry is a great opportunity for those who want to work hard.”

Education And Training

To become a realtor, you need a high school diploma, a broker to hold your license, 90 hours of continuing education and completion of the exam, plus 30 hours in the first year of licensing, according to Wiener and Berwald. After taking the licensing test, agents need 60 hours of continuing education with 30 hours of continuing education required every two years after that.

“You should educate yourself beyond the requirements to improve your sales training, people skills and negotiating abilities,” says Wiener. Berwald agrees, noting that “you can never stop learning.”

So, how do you know if you want to become a real estate agent? Berwald recommends conducting Internet research, talking to agents and brokers, and shadowing a real estate agent. Wiener agrees that following a seasoned realtor through a workday is a great way to learn about the field.

“Many people go into real estate on a part-time basis. But to succeed, you need to treat it as a career and put in lots of hours, market yourself, abide by the code of ethics and get involved in local and state associations,” advises Wiener.

Barbara K. Mednick is a Twin Cities marketing PR/communications consultant and freelance writer.