I'm becoming a real estate agent and need some advice (Arcadia: apartment, brokers)

[vceja09]

Hello everyone! I am a 21 year old that is going to be taking my RE State Exam in a couple of weeks to get my license. I have lived in the La Verne/ Claremont/ Glendora area basically my whole life.

The benefit of living in La Verne is that I am in the middle of the San Gabriel Valley and the Inland Empire. My question is which area is a better market to work in? The Inland Empire or the San Gabriel Valley? I am a new agent and want to really get as much information as I can before I start to interview with Brokers.

Also since I am a new agent should I look to work with a bigger well known office? Or should I work for a smaller more local office? Thanks in advance!

[EscapeCalifornia]

You picked a heck of a time to break into that business.

[vceja09]

Haha I know, but I grew up around the business and have always wanted to make a career out of it.

[la broker]

Just get started anywhere, you got a lot to learn as a real estate agent on the field to buy list sell house or any type of real properties , It doesn't matter which area in los angeles or orange county you start, Stay honest with your clients and treat everybody fairly and people will come to you.

Good Luck !

-MOD EDIT. Advertising not allowed

[vceja09]

[quote=la broker;24070337]Just get started anywhere, you got a lot to learn as a real estate agent on the field to buy list sell house or any type of real properties , It doesn't matter which area in los angeles or orange county you start, Stay honest with your clients and treat everybody fairly and people will come to you.

Good Luck !

-MOD EDIT: Advertising not allowed

Wow, thanks for the advice! I will always keep those good qualities at the core of my business.

How long have you been in the business?

[JustMike77]

I have some ideas for you. First of all, you want to be in a BIG company to start. What you need when you start out is training, training, training and the big companies like Coldwell Banker (excellent choice) are the best place to get it. Also, a big company will offer floor time to new agents since the "old-timers" are too cool for floor time. ALWAYS take floor time. It is a great source for gathering new potential buyers/sellers ( I once listed a 40 unit apartment building off a floor call). Another benefit to a large company is that they have an established reputation that you can trade on. Someday, with luck, you will be known as "Vceja09 the Great", but right now, nobody knows who you are. Having a big well-known company behind you gives you instant credibility. They also have all the marketing tools already printed for you and ready to go. Later, when you're established, you can trade on your own well established reputation. That is the time when agents move to a smaller firm or a ReMax situation, usually for a better commission split. You will reach a point where people are working with YOU and don't care what company you're with. Until then, stay with the big company. There is also a positive synergy that happens when you have a lot of agents around talking deals, pocket listings, etc.

Now that you are working for BIG Realty, Inc here are a few thoughts for getting started.

1. Take floor time (as above).
2. Until you have listings of your own, offer to sit open houses for the more experienced agents who can't be bothered. Open houses do very little to sell a house, they are mostly for meeting new potential buyers. You will pick up new clients and also hone your skills in showing homes.
3. Start a farm. Being a listing agent is the ONLY way to insure a long career in real estate. Pick an area which offers both middle income and also higher end homes. Then work it to pieces. Become THE GUY in the neighborhoods you work. It might sound old fashioned, but door-knocking still works. I know a gal in West L.A. who door knocks 2 hours a day, every day and she has had continuous business for years. People like to work with people they know, so.... get to know them.

That should hold you for a while. Good luck.

Mike

[rockychocbill]

Originally Posted by LAappraiser

I have some ideas for you. First of all, you want to be in a BIG company to start. What you need when you start out is training, training, training and the big companies like Coldwell Banker (excellent choice) are the best place to get it. Also, a big company will offer floor time to new agents since the "old-timers" are too cool for floor time. ALWAYS take floor time. It is a great source for gathering new potential buyers/sellers ( I once listed a 40 unit apartment building off a floor call). Another benefit to a large company is that they have an established reputation that you can trade on. Someday, with luck, you will be known as "Vceja09 the Great", but right now, nobody knows who you are. Having a big well-known company behind you gives you instant credibility. They also have all the marketing tools already printed for you and ready to go. Later, when you're established, you can trade on your own well established reputation. That is the time when agents move to a smaller firm or a ReMax situation, usually for a better commission split. You will reach a point where people are working with YOU and don't care what company you're with. Until then, stay with the big company. There is also a positive synergy that happens when you have a lot of agents around talking deals, pocket listings, etc.

Now that you are working for BIG Realty, Inc here are a few thoughts for getting started.

1. Take floor time (as above).
2. Until you have listings of your own, offer to sit open houses for the more experienced agents who can't be bothered. Open houses do very little to sell a house, they are mostly for meeting new potential buyers. You will pick up new clients and also hone your skills in showing homes.
3. Start a farm. Being a listing agent is the ONLY way to insure a long career in real estate. Pick an area which offers both middle income and also higher end homes. Then work it to pieces. Become THE GUY in the neighborhoods you work. It might sound old fashioned, but door-knocking still works. I know a gal in West L.A. who door knocks 2 hours a day, every day and she has had continuous business for years. People like to work with people they know, so.... get to know them.

That should hold you for a while. Good luck.

Mike

I sold for 10 years (87-97) up here in Vancouver, Canada. All of what Mike just said is great advice. It's exactly what I did when I first started. The becoming a "listing agent" (list to last) advice is the most important of all. I was 25 when I started and worked with a lot of first time buyers my age and family. I did too good a job though and nobody was reselling even after 10 years. I never progressed into becoming a successful listing agent. It takes way more effort than most people think. It's a very competitive industry and everybody "knows" a Realtor, right? Plus my 2 boys came along in '93 and '95 and I wanted to coach their sports and be around. You're 21, so you've got a lot of time to work it all out. It can be a very rewarding and flexible career choice for sure. I have no regrets. Good luck.

[vceja09]

Wow, thank you guys so much for your great advice! I definitely have a better understanding now. I will choose a big company to start. My top 2 choices are Coldwell Banker and Century 21. I also like that they don't charge any "desk fees".

[nmnita]

Originally Posted by vceja09

Hello everyone! I am a 21 year old that is going to be taking my RE State Exam in a couple of weeks to get my license. I have lived in the La Verne/ Claremont/ Glendora area basically my whole life.

The benefit of living in La Verne is that I am in the middle of the San Gabriel Valley and the Inland Empire. My question is which area is a better market to work in? The Inland Empire or the San Gabriel Valley? I am a new agent and want to really get as much information as I can before I start to interview with Brokers.

Also since I am a new agent should I look to work with a bigger well known office? Or should I work for a smaller more local office? Thanks in advance!

Just an opinion and we all will tell you different ideas based on experience. When I got my license many years ago, I live in Arcadia. I choose a small, relatively new company as I thought I would get more personal attention and I did. After about a year or two I moved up to well known but not too large an office. I never felt I made a mistake either way. I am sure you are prepared to work hard and realize it will take you months to start seeing much of a profit. Partially due to being new and partially due to the slow time of year. In fact you may not want to even start work until after the new year.

I also would interview with brokers that do San Gabriel Valley and then talk to a few in IE area. Glendora/San Dimas area is always a hot place with property moving relatively fast. Of course I am partial.

The most important thing is: fell comfortable with the broker, don't go with the company that offers you th best commission % just because it sounds good and always listen to your clients. Do the best to show them what they want in the price range they are choosing. If they learn they need to increase the price they can pay they will let you know. Also go to new listing appointments being prepared to show them exactly what they can expect to get, with solid comps. Too many people over price their home and end up sitting them for too long, taking less than they could have, had they started out with a reasonable price. I do not mean to price too low either. Don't be afraid to let them know the down part as well as the up part of their homes. We often don't see the drawbacks, but a good agent does.