Things To Do After Passing Your Real Estate Salesperson Exam
Your Next Steps: Navigating the Path to Becoming a Successful Real Estate Agent
Your Next Steps: Navigating the Path to Becoming a Successful Real Estate Agent
Jacqueline Kyo Thomas
Hey there! Congratulations on passing your real estate exam—that’s a huge deal! But what’s next?
Whether you're starting your real estate career in Massachusetts or anywhere else, you have a few steps to take before you become a pro. We’ve got your back. In this post, we break down the must-do steps. Let’s dive in and get you set up for a killer start in your new career.
Once you’ve passed your real estate salesperson exam in Massachusetts, your very next step is to get your real estate license so you can start practicing.
Whether you’ve taken your Massachusetts exam online or in person, you will receive your license at a PSI testing center. If you’ve taken the test virtually, PSI will send you instructions on how to receive your license from a local PSI center.
Be prepared to pay the licensing fee. The fee for a real estate salesperson license will be between $103 and $150. Why is it not one set fee? In Massachusetts, your first real estate license is prorated based on your birthday. To avoid frustration, plan to pay $150. And don’t forget that PSI also charges a $12 license issuance fee.
Once processed, you’ll receive your license and can officially practice as a real estate agent in Massachusetts. But not yet. The next step is also essential.
When you work as a real estate salesperson in Massachusetts, you must work with a broker. Here’s why:
As you see, selecting the right brokerage to begin your real estate career is important. It will be your professional home where you grow your network, learn the industry, and start your transactions. Here's how to make the best choice:
Identify Your Needs and Goals - Consider what’s most important to you in a brokerage. Are you looking for training programs, a strong support system, high commission splits, or perhaps a focus on a specific real estate niche like commercial or residential?
Research Potential Brokerages - Write out a list of local brokerages and research each one. Look at their market presence, reputation, the support they offer new agents, and their company culture. Online reviews are a great way to see how a brokerage is perceived in the community.
Visit Brokerages - Schedule visits to a few top choices. Get a feel for the environment and meet with some of the staff and agents. Pay attention to how welcoming they are and whether their operations align with your career objectives.
During your visits, arrange to speak with brokers at each firm. Ask about their expectations for new agents, support during transactions, and how they handle agent growth and development. This is also your chance to assess how well you might mesh with their team.
Also ask about the commission structure, any desk fees, transaction fees, or other costs associated with working at the brokerage.
Make Your Decision - After gathering all this information, compare your options. Choose the brokerage that best aligns with your professional goals and personal values, and where you feel you will have the best opportunity to succeed.
Choosing the right brokerage can set the tone for your career in real estate. Take the time to find a place where you feel supported and have room to grow.
Establishing a strong business foundation is essential for a successful real estate career. Here’s how to set up your business tools effectively:
Create Business Cards - Design professional business cards to share your contact information easily at networking events and with potential clients.
Develop a Professional Website - Every agent needs a website, even if your broker has one already. Your website can be used to showcase your listings, share your bio, and provide valuable content for buyers and sellers. Check out more tips about building a real estate website here.
Establish Social Media Presence - Choose platforms where your potential clients are most active, such as Instagram, Facebook, or LinkedIn. Use these platforms to share market insights, available properties, and tips for buyers and sellers. Click here for essential strategies to make the most of Instagram.
Invest in a CRM System - A Customer Relationship Management (CRM) system will help you keep track of client information, communications, and appointments. It’s vital for managing leads and ensuring no client is overlooked. We’ve discussed what to look for in a CRM System. Check it out here.
Set Up Email Marketing - Set up email marketing on your website to send newsletters, market updates, and personalized check-ins to your contacts. This keeps you on top of their minds and helps build relationships. Learn more about email marketing here.
Each of these steps is designed to build a solid foundation for your real estate business. But that’s not all you must do. Let’s keep going.
Building a strong network is essential for a successful career in real estate, and building it early on is a game changer. Here’s why:
The more people you know, the more you learn about the nitty-gritty of the market. This can include tips on listings before they hit the market or heads up on buyer and seller trends. With this inside scoop, you can make smarter moves.
Networking also leads to referrals. This is the bread and butter of real estate. Happy clients and fellow agents can send new business your way. More connections mean more potential for referrals, which can mean more sales.
Then there’s the support you gain from having a network. The real estate business can be tough, especially at the start. Having a network means you have people to turn to for advice, help, and even a bit of moral support when things get hectic.
Don’t just get your license and chill. Get out there, shake some hands, make friends, and build that network. It’s one of the smartest moves you can make early on in your career.
How do you network? Here’s a starter list:
Attend Industry Events - Participate in local real estate events, seminars, and other gatherings. These are great opportunities to meet other agents, brokers, and potential clients.
Visit Properties - One of the easiest ways to meet local agents (and get to know the inventory in your market; more on that in a moment) is to start looking at properties! Start attending open houses and broker opens in your area, and be sure to chat with the agents at the open house.
Join Community Groups - Get involved in local community organizations or committees. This not only helps you understand the community you serve but also positions you as a go-to real estate expert in the area.
Leverage Social Media - Use platforms like LinkedIn, Facebook, and Instagram to connect with industry peers and engage with potential clients. Share valuable content, respond to comments, and showcase your real estate projects.
Follow Up - After meeting new contacts, follow up with a thank you note or an email. Keeping in touch helps you stay top of mind and can lead to future opportunities.
Next, get to know your local market. When you understand your market, you can give expert-level advice to your clients. You'll know if it's a buyer's or seller's market, what homes are worth, and what clients can expect throughout the buying or selling process. This knowledge makes you a trusted advisor, not just an agent.
Plus, when you know the ins and outs of your local market, you can spot deals that others might miss and help your clients make the best moves.
Understanding market trends helps you plan for the long haul. You can advise clients not just based on today’s conditions, but on where the market is headed. Getting to know your local market sets you up to serve your clients better, make smarter deals, and build a reputation as the go-to agent in your area.
Here’s how to get to know your local market:
Study Market Trends - Regularly review market reports and real estate news. Understand factors like average prices, inventory levels, and buyer demographics in your area.
Visit Properties - Regularly tour homes and attend open houses to get a firsthand look at what’s on the market. This in-person look will help you provide current and accurate advice to your clients. Over time you will get to know all of the properties in the area and niche you work in, making you an valuable expert for your clients.
Talk to Local Experts - Regularly engage with more experienced agents, appraisers, and other real estate professionals. They can provide insights into market dynamics and future trends.
Each of these steps will help you build a strong network and a thorough understanding of your market.
You need a marketing plan as a new agent. A marketing plan helps you stay organized and focused on your goals. Instead of throwing spaghetti at the wall and seeing what sticks, you will have a clear strategy to follow.
As a new agent, you may not have as much time or money as you’d like. A marketing plan allows you to be more efficient with your resources, which include time, money, and effort.
Your marketing plan will allow you to create a targeted approach so that you tailor your messages to the desired audience. When you reach the right audience the first time, you will significantly increase the return on your initial investment.
Here’s how to create a marketing plan as a new agent:
Define Your Target Audience - Step One: Decide on your target audience. Who are your ideal clients? First-time homebuyers, luxury clients, commercial investors, renters, short-term investors, etc.? Pinning this down helps you tailor your marketing efforts effectively.
Set Clear Goals - Step Two: Define your goals. What do you want your marketing to achieve? More website traffic? A certain number of leads per month? Define what success looks like so you can measure it.
Choose Your Channels - Get active on the right channels. Based on where your audience hangs out, select the channels—social media, email, direct mail, etc., that will be most effective for reaching them.
Plan Your Content - Plan your content for distribution on your chosen channels. What types of content will engage your audience? Think blogs, videos, infographics, and listings. Planning this out helps keep your messaging consistent and engaging.
Budget Your Expenses - Many marketing channels (such as social media) are free to use, but to maximize your exposure, you may choose to pay for promotion. Facebook in particular has become more of a “pay-to-play.” Decide how much you can spend on each marketing activity. This helps ensure that you’re spending wisely and getting the best return on your investments.
Monitor and Adjust - Keep an eye on the performance of your marketing activities. Use tools to track progress and be ready to adjust your plan based on what the data tells you.
A solid marketing plan is your blueprint for success. It keeps your efforts aligned with your goals and helps you build a strong, recognizable brand in the crowded real estate market.
If you want to manage your time effectively, stay organized, and keep stress at bay, you need to create a daily workflow. And not just any workflow will do. You need one that you will actually use. Here’s how you can set up a workflow that works for you:
Prioritize Tasks - Start by identifying the tasks that are most critical to your success and need regular attention, such as prospecting for new clients, following up on leads, attending networking events, and managing current listings. Prioritize these tasks to ensure they get done first.
Use Time Blocks - Divide your day into blocks of time dedicated to specific activities. For instance, you might reserve mornings for client meetings and afternoons for paperwork and marketing activities. Time blocking helps prevent tasks from bleeding into each other and keeps you focused.
Automate Routine Tasks - Take advantage of technology to automate routine tasks. Use CRM software to manage client interactions, schedule emails, and follow-ups, or automate social media posts. Automation saves time and reduces the mental load of having to remember everything.
Set Realistic Goals - As a new agent, it's important to set achievable goals to keep yourself motivated. Whether it's closing one sale a month or gaining three new leads per week, make sure your goals are realistic and attainable within your current capabilities and market conditions.
Maintain Work-Life Balance - Finally, make sure your workflow includes breaks and downtime. Real estate can be demanding, and burnout is a real career risk. You must prioritize your mental and physical health if you want to be successful and happy in your career.
Stepping into the real estate game is both exciting and challenging, but you’ve got what it takes to make it big. By ticking off each step we’ve covered, you're laying down a solid foundation for a successful career.