got real estate license now what

Got Real Estate License Now What?

It’s One Thing to Get a Real Estate License − It’s Another Thing to Become a Money-Making, Successful Real Estate Agent

Are you asking yourself, “Got real estate license now what?” You’ll find out here!

The real estate industry is filled with opportunities for ambitious, hardworking individuals. And it’s a very rewarding career because you are helping people with the “American Dream” of owning their own home.

got real estate license now what
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Plus, being a real estate agent can be very lucrative…if you succeed at it. According to the National Association of Realtors Member Survey 2024, the median gross income for REALTORS® in 2023 was $55,800/yr, with the top 20 percent earning a median gross income over $150,000.

Unfortunately, most of the things you learned to get your real estate license, are not things that will help you succeed in the real world. And most of the articles you read online were written by professional Internet writers who have never actually sold a house. Or worse–written by AI and so very generic.

Consider this as your real world road map to understanding the things you need to do AFTER you get your real estate license, in order to be a successful, money-making real estate agent. This was written by a 15-year veteran real estate and is based on the systems, tools, and resources she uses in her Top Producer business.

First, Find Out the Myths About Being a Real Estate Agent

MYTH: Agents Are Employees at Brokerages

Nope. Almost all real estate agents are 1099 Independent Contractors…not salaried or hourly employees at brokerages. This makes you a small business owner and means you only get paid a sales commission when you Close a transaction. Plus, you have to pay for all your own real estate business expenses, including paying broker fees.

So you need to learn how to set up and run a small business on your own. ☺

 

MYTH: My Broker Will Train Me On Everything I Need to Know

what to do as new real estate agentNope. Uh-uh. No they wont. Brokerages do not have Training and HR Departments like corporations. You’ll be lucky if they have one person in charge of new agent training…and that person is probably not an expert trainer/instructional designer (or if they are, they were probably not a long-term, successful real estate agent themselves).

Even the top-training brokerages in the country only train the basics (not to be confused with “essentials” which they don’t really train). Most of them are focused on teaching you their in-house technology tools and old-fashioned lead generation techniques.

So you need to find a comprehensive training program taught by a veteran real estate agent who can teach you modern marketing methods. ☺

 

MYTH: My Broker Will Provide Me With Leads

Probably not. A brokerage may (if you’re lucky) give you one or two leads in the beginning, but you are going to be responsible for marketing yourself and finding your own clients. Lead generation is a big part of being a successful real estate agent. Without leads, you don’t have clients. Without clients, you can’t Close transactions. Without Closing transactions, you can’t earn a commission and get paid.

So you need to learn how to set up multiple lead generation systems and how to market yourself
effectively. ☺

 

MYTH: My Colleagues Will Teach Me

Probably not. The nicest colleagues in the world, if they are truly successful themselves, will be too busy to hold your hand and be readily available whenever you need them. Plus, just because they are successful doesn’t mean they know how to effectively teach you.

What’s more, you are competing with them for clients in the same market area…so it’s unlikely they will teach you their BEST techniques and systems, no matter how nice they are.

So you need to find the right training program to teach you how to be self-sufficient as quickly as possible. ☺

 

got real estate license now what 2MYTH: I Can Figure This Out On My Own

Doubtful. If you wanted to learn how to climb a mountain, wouldn’t you hire an expert mountain-climber to teach you? Real estate is a complex business, and it will take you a lot longer to figure this all out on your own than it will to sign up for a comprehensive training program. The longer it takes you to learn the INs and OUTs of the business, the longer it takes to start making money. Meanwhile, you still have to pay all your business expenses and real estate fees. The sooner you learn what you need to know, the sooner you will start making money.

So you need to shorten your learning curve in order to start earning a living sooner. ☺

 

MYTH: It’s Easy to Be a Real Estate Agent

Wrong. Consumers and non-real estate agents have no idea how hard it is to be a successful, money-making real estate agent. It’s so much more than just getting your real estate license. As you will discover, there are many roles that you will play as a real estate agent:

  • Business owner
  • Marketing & advertising expert
  • Psychologist & marriage counselor
  • Diplomat
  • Real estate consultant
  • Local area tour guide
  • Project manager
  • Market analyst
  • House inspector
  • House designer/decorator
  • Much more!

If you do an Internet search on “what percent of real estate agents fail first year” then you will see that it is believed approximately 75 percent of new real estate agents fail in their first year and 87 percent “give up” after 2-5 years. This proves that it is NOT easy to be a real estate agent.

So you need to set proper expectations and get ready for some hard work. ☺

 

Now, Learn What To Do After Getting Your Real Estate License

Many newbies ask, “Got a real estate license, now what?” The following is a “big picture” explanation of the process you should go through, and the things you need to learn, to be a successful real estate agent. It can be overwhelming…there’s a lot to do! Just take it one step at a time and before you know it, you can be a top-producing real estate agent!

Step 1 – Set Up Your Real Estate Business

help for new real estate agents As a real estate agent, you are a small business owner, not an employee. So you need to get ready for future transactions and set up your real estate business and systems for day-to-day activities.

Do this early so you can move on to more interesting and fulfilling activities without constantly worrying that you don’t have all your “sh*t” together. This helps to build your confidence and makes you more effective at the next steps in the process.

Plus, understanding your budgets and forecasting your income are VERY important goal-setting activities that you need to start your career with in order to succeed. Ask any expert and they will tell you that “knowing your numbers” and setting good “mindset” habits is a critical aspect of this business.

Topics to Learn & Implement:

  • Setting Your Business Goals
  • Understanding Compensation Plans
  • Interviewing & Choosing a Broker
  • Onboarding at New Office
  • Setting Up Your Real Estate Business
  • Developing Your Mindset & Habits
  • Learning Contracts and Addendums (Legal Compliance)
  • Learning the Tools: MLS, Online Signatures, Appointment System, CRM, PDF Creator, Screenshots
  • Using the Best Time Management Practices
  • Learning Effective Communication Skills
  • Reading the Right Books

Step 2 – Market Your Real Estate Business

checklist for new real estate agents Once you get your initial real estate business set up, then you will begin marketing and advertising your real estate business. This is more than just getting some business cards, For Sale signs, and sending out a letter to people you know to tell them you are now a real estate agent! To effectively market your new real estate business, you need to learn and understand “lead generation” for real estate and how to set up the right systems for your business.

You will also need to make sure that you choose a profitable target market. You don’t want to waste time advertising and marketing to the wrong market. So learn how to effectively analyze your market and choose a target market that will be the right choice for your personality, in your area, and that will enable you to reach your financial goals. Most new agents just take a guess at what target market to go after, and so most of them fail. If you take the time to truly understand your options, then you can shorten the time it takes for you to start earning a living in real estate.

Once you know your target market, then you can begin developing a personal brand that is appealing for that target market. This will include creating a digital platform and social media accounts to promote your business. This will also include setting up a Prospecting system and following a Daily Checklist to keep in touch with your VIPs and find people who want to buy or sell a property. As a new real estate agent you will often hear, “Work your database.” Your Prospecting system is HOW to “work your database.”

Topics to Learn & Implement:

Step 3 – Develop Your Real Estate Expertise

People don’t want to hire real estate amateurs…they want to hire real estate experts. So after your real estate business is set up and you’ve started marketing your business, then it’s time to develop your real estate expertise. The information that you learned in real estate school is only enough to help you pass the state exam and get your license. Now you have to learn the REAL WORLD aspects of being a real estate agent.

advice for new real estate agents So what is “real estate expertise”? If you are going to be effective at selling houses, then you need to know a lot about houses…more than your buyers and sellers know. You need to know common issues in your area, how to mediate them, how much that may cost, etc. You need to know about foundations, roofs, windows, countertops, etc. People want to hire real estate experts. That means you need to really know your product.

In addition, there is a saying that all you need to know about real estate is “location, location, location.” So you need to become a local area expert who knows everything there is to know about your city, county, schools, neighborhoods, etc. Start learning this early in your career so you can compete with the long-time agents who already have this knowledge.

Other skills to develop include “people skills” and working with other agents. Truly…most people need a lot of help in this area! Being a friendly, gregarious, out-going extrovert is not what it takes to succeed in this business. You need to learn to work with difficult people and handle negative situations and attitudes professionally in order to achieve the right outcomes.

Make sure you also know the applicable real estate laws, rules, and regulations (more than what’s taught in real estate school!) so that you stay out of legal trouble. And start develop strong problem-solving skills because no two transactions are ever the same.

Topics to Learn & Implement:

  • Learning About Home Construction
  • Becoming the Local Real Estate Expert
  • Researching Market Data/Trends
  • Working with Other Agents
  • Developing Your “People Skills”
  • Learning Laws and Regulations (Stay Out of Trouble)
  • Developing Your Problem Solving Skills

Step 4 – Develop Your Home Pricing Skills

The ability to price properties correctly is a skill that most home buyers and sellers are looking for in a real estate agent. Unfortunately, there are very few good CMA courses for real estate agents. The standard CMA courses that new real estate agents go through may only cover how to use the MLS to find “comps.” This is not enough knowledge to truly price properties correctly.

Make sure you learn as much as you can about your MLS system and tools (both beginner and advanced classes) but also learn more in-depth valuation strategies if you want to be a great real estate agent. Developing accurate CMAs (Comparative Market Analysis) is a core competency in real estate!

Topics to Learn & Implement:

Step 5 – Learn How to Work with Home Buyers

As a new agent, you will probably find it easier to get buyer clients than seller clients, so focus on learning to work with home buyers first. This will include learning the entire home buying process and all the action items that you are responsible for as a fiduciary agent. As a real estate agent, you are required to manage the transaction all the way to the Closing (if you want to get paid).

You will need to create many items to work with home buyers effectively: Buyer presentation, brochure, transaction management forms, notebook for first meetings, etc. You will also need to learn how to set up custom home searches on your MLS and create home tours to show houses. This requires hyperlocal knowledge so you can help buyers find the type of home they want to buy.

Clients will expect you to be able to point out the features and materials of houses as well as any potential costly defects. This is (hopefully) why you began developing your product knowledge early on!

As a buyer’s agent, you also need to know how to schedule and manage home inspections, handle repairs, work with the title companies and lenders, and facilitate a Closing. There are many parts to managing a transaction for home buyers, and failing to do so effectively will negatively impact your reputation and career.

Topics to Learn & Implement:

  • Creating a Buyer Presentation
  • Creating Buyer Transaction Forms
  • Creating a Notebook for First Meetings
  • Creating a Folder to Give to Buyers
  • Knowing the Home Buying Process
  • Setting Up Appointments
  • Creating a Home Tour
  • Meeting Buyer Clients for the First Time
  • Showing Houses to Clients
  • Providing Extra Services (Walkthroughs & Floorplans)
  • Managing the Home Buying Transaction
  • Explaining Contracts and Addendums
  • Handling Home Inspections
  • Working With Title Company and Lender
  • Handling Closings
  • Handling First Time Buyers
  • Understanding Financing Options
  • Setting Up a Client Review System
  • Practicing Scripts

Most of the Step 5 list is taught in the
Ultimate Buyer’s Agent Kit

 

Step 6 – Learn How to Work with Home Sellers

Working with home sellers is the goal for many real estate agents. To get seller clients, you need to create a Listing Packet, a Seller presentation, and your seller transaction forms. You also need to know how to set up and conduct Listing appointments and get signed Listing agreements. Make sure you are able to explain “representation” and commissions effectively, as well as all the points of the Listing agreement and sales contracts.

Once you acquire a new seller client, then you need to know how to guide that client in getting their home ready to go on the market. This will include decluttering, repairing, cleaning, and staging a home. You may need to spend time developing relationships with local companies who can help your seller clients through the process. Clients value their agent’s contacts and recommendations, so develop a list of trusted people and business to refer to your clients.

Then once a home is ready to go on the market, you need to have marketing skills to effectively advertise and promote your listing. Skills in photography, creating video tours, writing MLS descriptions, creating social media posts, and more are very helpful. Learn everything you can about these skills so you can sell yourself to seller clients and provide them with the best service.

Topics to Learn & Implement:

  • Creating the Listing Presentation
  • Creating a Listing Packet
  • Creating Seller Transaction Forms
  • Learning the Home Selling Process
  • Setting Up Listing Appointments
  • Preparing for a Listing Appointment
  • Conducting the Listing Appointment
  • Getting a House Ready, Staged, & Listed
  • Learning Real Estate Photography 101
  • Learning How to Prepare and Stage a Home
  • Learning How to Do Walkthrough Videos
  • Managing the Home Selling Transaction
  • Explaining Contracts and Addendums
  • Marketing Listings
  • Setting Up a Client Review System
  • Practicing Scripts

Step 7 – Implement Advanced Lead Generation Strategies

got real estate license now what 3 In Stage 2 you started to learn about lead generation in real estate and you should have set up a Prospecting system (which all agents need, no matter the target market).

In Stage 7, it is time to go deeper into your lead generation plan and add more marketing systems to your lead generation system, such as:

  • Digital Marketing System
  • Farming System
  • Networking System

You may also want to create “items of value” to use in your marketing efforts, such as in-depth market reports and hyperlocal guides. Market reports and local guides are extremely popular with home buyers and sellers, but they may be very difficult to obtain. This is a key area where you can set yourself apart from your competition. It is also an amazing way to establish your credibility as a real estate agent.

  • Writing Your Marketing/Business Plan
  • Learning About Digital Marketing (Playbook)
  • Creating a Business Website That Generates Leads 24×7
  • Setting Up Your Networking System (Playbook)
  • Setting Up Your Farming System (Playbook)
  • Becoming an Open House expert
  • Creating Local Area Guides
  • Creating Market Reports
  • Promoting with Guides and Reports
  • Adding Drip Campaigns for Buyers
  • Adding Drip Campaigns for Sellers
  • Tracking Your Leads

Step 8 – Develop Advanced Skills

Once you get to Stage 8, you should have a good, functioning real estate business. However, there is always room for improvement, and now you may want to spend time:

  • Rehearsing sales scripts
  • Developing your negotiating tactics
  • Building your referral network
  • Working on your conflict resolution skills
  • Honing your problem-solving skills

You may also want to learn more about Luxury Real Estate and decide if that is a new target market that fits your overall business plan.

If you are super-successful, then it may be time to learn about building and managing a real estate team to maximize your results.

Quick Start – What to Do Next

So you got a real estate license, now what do you do? Here is a list of things you should do NOW to get your career on the fast track to success:

WHEN WHAT
NOW The AgentSuccessBuilder.com website is your one-stop-shop for agent resources (so Bookmark it! :-). You want to keep coming back as we add more and more useful items for you.
NOW Download the How to Become a Successful Real Estate Agent: Ultimate Checklist and print the checklist. This is your roadmap.
NOW Print Real Estate Goal Setting by the Numbers and start planning your goals. You want to start off with solid goals that will guide you on your way. This is part of effective mindset strategies that successful agents use daily.
1st WEEK If you don’t have a broker yet, then download How to Choose the Right Real Estate Broker – A Smart Guide for New Agents. Use the Questions  for Brokers and Broker Decision Analysis to choose the best broker for YOUR unique needs.
AFTER START AT BROKERAGE Whether you’re already working at a new brokerage or not, print the Onboarding at Your New Brokerage guide and make sure you have finished all the items.
2nd WEEK You will need a profile/bio when you list yourself on social media accounts and other real estate websites. Use the How to Write a Profile for Your Real Estate Business to write a great one. Use this to set up your business profiles on your social media accounts, Realtor.com, and other real estate websites.
2nd WEEK Read The Most Powerful Way of Understanding Lead Generation in Real Estate to get a better understanding of how you are going to find clients. This is a completely UNIQUE way of looking at lead generation and how YOU should be getting clients.
2nd WEEK Don’t waste time on the wrong area, niche, or activities! Take the time to go through the process in How to Find a Profitable Target Market In Your Area and make sure you are focused on the right target market. This will save you a lot of heartache.
2nd WEEK Plan your lead generation system using the Easy Marketing Plan Template for Real Estate Agents. Start implementing your plan right away. Make sure that you, your target market, and your marketing strategies are aligned for best results.
2nd WEEK Print multiple copies of the Daily Checklist for Productive Real Estate Agents and start using it. Most buyers and sellers find their real estate agent through the recommendations of friends and family, and this is the way to stay “top of mind” and “work your database.”
3RD WEEK Start studying your area and developing in-depth, hyperlocal knowledge using the worksheets in: The Easy Way to Become the Local Real Estate Expert. This is the fastest way to build your credibility as a real estate agent. Plus, you can use the items you develop in the process to post on social media to market yourself an an authority in your area (which is what clients want!).
3RD WEEK Learn How to Do a CMA In Real Estate and practice, practice, practice on your MLS. Once you get great at creating CMAs, you can use that skill as another lead generation tactic.
4th WEEK Set up your buyer system so you can start signing clients (and getting paid) faster. Buyers are much easier to sign than sellers…when you’re a new agent.

 

You will need to Sign Up (for FREE) Basic Access to these printable PDF files. Here’s to your success!