How College Grads Can Succeed in Real Estate

If you are looking for a meaningful career after you graduate from college or are simply considering the best career paths for your degree, you should consider going into the real estate industry. There are many different careers in real estate that may appeal to you, such as a real estate seller or agent, and it is important that you understand how to succeed in these careers by following these top tips to get you started.

Use the Right Technology

In recent years, there has been a major transformation in the use of technology in real estate, and this is impacting the industry in huge ways, allowing agents, sellers and other career-minded people to complete tasks in completely different ways than they would a couple of years ago. Using the right technology is important as it can help you to stay on top of market changes (and those of your competition) and allow you to be more efficient in your real estate career. Some of the best technologies to use in real estate include home inspection report software, which is extremely advantageous for self-employed inspectors in the real estate industry due to its ability to allow you to access a calendar system, write reports and even communicate with clients.

Other technology that is changing real estate includes virtual walkthroughs, which allow you to show clients listed properties without the need for visits, and buying and selling websites where you can list properties and communicate with clients that may be interested in them.

Get Your Licenses 

However, a college degree will not provide you with enough for success alone, and legally, you must get the correct licenses in place for you to become a real estate agent, or even a home inspector. It is important that you research the licenses needed for your desired job role as these differ between states and each of the job roles that you are looking into performing. For instance, to become an estate agent, you need to take a pre-licensing course to allow you to train for the examinations to come with an expert instructor. Then, you will need to take the real estate salesperson examination, which may include a fee and a background check before you are able to pass. You should ensure that you are able to complete this licensing long before you decide to open for business or seek employment, as these documents can sometimes take a lengthy amount of time to process, which can hinder your career progress if you are not able to think ahead.

Set Manageable Goals

Then, it is important to set manageable goals for your career. Although college grads may start to consider their long-term ambitions on leaving school, you need to set smaller and more actionable goals that you can work towards and succeed at. The real estate industry is one that is constantly in flux due to changes in the housing market and economics, and so it is important to ensure that these goals are not long-term, as these may not be as actionable as other goals due to their reliance on the stability of the housing market. To set these goals, you might want to consider establishing good KPIs which can help to indicate to you when you or your business have started to make progress towards the achievement of these goals.

Open Your Own Business

However, in real estate, not every career is based on working for a larger company, and roles such as real estate sellers can be based on self-employment or on opening your own business. To open your own real estate business, you should complete the major stepping stones of setting up any major business, such as conducting market research, establishing a network of real estate mentors and investors and finding the correct channels of financing for your business plan. You will also need to seek the right premises, as well as complete a budget that will ensure that you can maintain enough profit to grow your business and sustain a stable income.

Brush Up Your Skills

However, the real estate industry is not all about your college degree, and throughout your time in college it is important that you are able to brush up on your practical skills through extracurricular activities, work placements and volunteering. The skills that are key to real estate include both written and spoken communication skills, as you will have to connect with both your clients and the company which you are working for, and write reports and official documents detailing the progress that you have made on the listings.

Author: Oliver Curtis

Hi there. I’m Oliver. I’m just a young boy from the outskirts of… Okay, that’s a lie, I’m not a young boy anymore, although I certainly feel that way at heart.