PRG Blog Series: New to the Business

Things To Keep In Mind While Being New to Real Estate

Getting into the Real Estate business is hard, and takes time to understand. There is terminology, strategies, and the need for a client base that don’t come to you overnight. The most common advice I’ve received from my bosses and mentors is that it takes two years in the market to really know what you’re doing. Because I am gaining all this knowledge before I leave college, I only hope that it cuts into those two years, and gets me ahead of the game when I graduate.

How you gain this experience and expertise really all comes down to one word; Exposure. The only way you can learn, and get better is by throwing yourself into situations/deals that make you nervous/uncomfortable. It may seem (will be) frustrating in the beginning, but one thing I like to do is look back where I used to be. Each month I go further into this career path, I think about what I was doing, and where I was a month prior. This is my second summer working in brokerage, and the progress I’ve seen each month, let alone since last year, has been tremendous.

I had a swim coach in high school who was accepting a new position on a team that was one of the top in the nation. He didn’t know if he would succeed, or the impact he would have on them. A piece of advice he gave me was that, “You should have a job or two in your life that you’re scared about.” This shows that you care about it, and that you’re willing to do what it takes to get ahead. I look at this business in the same way. Making cold calls, and asking people for their business is an uncomfortable thing at first, and takes practice. The only way to move past feeling like that is by forcing yourself into making that next call, and so on. Take each moment as it comes, and try to find value in it.

Eventually, your first set of calls, will become a follow up. After that, you find yourself speaking with an interested client. Eventually, you’ve worked your way into your first deal. There is something to be learned every step of the way, and you always have people there to assist you in the process. They understand what being new to the business is like, and are more than willing to show you the ropes. Take notes, don’t be afraid to ask questions, and trust that your efforts now will put you in a great place in the future.
 

Written by Part-Time associate: Conor Tunno, (currently attending the University of Pennsylvania obtaining his undergraduate degree)
Connect with Conor on LinkedIn: Conor Tunno