True story, when I first got licensed I was a little hesitant to talk to people about real estate because I didn’t feel confident enough about what I knew about real estate. I certainly didn’t want to embarrass myself and say something stupid. My insecurity prevented me from having many necessary conversations with possible buyers and sellers. Again, I remind you buyers and sellers are everywhere even places you may not expect. Therefore, you must always be prepared to talk real estate and know your current real estate market. Let’s look at a few approaches to help you get educated in real estate for your own personal knowledge.
I’ve taken over 400 hours in real estate education outside of licensing coursework. I currently hold 4 certifications in what I would call “specialty” practices of real estate. Daily, I spend at least an hour a day listening to a YouTube video or podcast on real estate. Let’s do the math on that so 1 hour a day daily for 365 days a year, so that’s 365 hours in addition to the 400 hours I mentioned before. Also, I read books! I read 30 minutes to an hour each day on real estate. So, we can add roughly another 365 hours to my real estate knowledge. I am study real estate about 800 hours per year. Honestly, I can’t emphasize the importance of education in the real estate industry.
Some ways you can stay informed are:
1. Take Classes/Courses
Check the course schedule with your local real estate association to see what classes are offered. A good association usually offers frequent classes with the class normally being free or a small fee. Take as many classes as possible related to your craft. If there are classes available that will help you market to or improve service to a niche market or specialty line of business take it! Don’t shy away from online webinars as well. Anything that will help you get better at being an agent.
2. Study Top Producing Agents
Connect with Top Producing agents in your market. You can usually meet these agents at awards ceremonies, industry luncheons, professional conferences, social media, networking events you may even could work with them on a transaction or work with them as a member of their team or office. If you don’t have any real estate or sales experience prior to getting licensed, I would suggest joining a team or office of a high producing agent or real estate company in your area. The education you learn from working with people at the top of their game is invaluable.
3. Watch YouTube Videos
If you want an idea of “how to prospect”, “generate leads”, or more functional aspects of the job of being a real estate agent, I suggest going to YouTube and watching at least an hour of video per day. There are HUNDREDS of real-estate sales videos on YouTube.
4. Read Books
A book is an invaluable resource when educating yourself on the real estate industry. Don’t worry many millionaires have already written books to tell you everything you need to know about real estate sales and how to grow a prosperous real estate business. Simply search a title on Amazon, and voila! The magic is there.
5. Study market statistics
As real estate professionals, it is your responsibility to study the real estate market. The more knowledge you have about what is happening in your city or town the more valuable you will be. If you have information on what’s happening nationally with real estate, you will be even more valuable. Be aware, that the consumer looks to us to know real estate market predictions. Consumers will ask “when will home prices fall or rise?”, “when is the next real estate bubble?”, “where is a good neighborhood to live?”, and “where are the best schools?”. Speaking confidently on real estate builds trust with consumers.
