A real estate career, while potentially a highly paid endeavor, does carry with it expenses as any business does. There are licensing fees, Multiple Listing Service membership dues, insurance you must carry to indemnify you should you make errors and omissions in the course of carrying out your activities, and your membership dues to professional associations.

In addition you should expect to pay for business cards, a name badge, and the means to access lockboxes for property visits. You will need to plan on personal marketing which may include Realtor.com membership and name riders for signs.

If you are an associate with a traditional real estate company, you would expect postage, letterheads, envelopes, signs, voicemail, fax machine, copies, etc. to be part of your company paid expenses. These would not be covered in companies that practice a 100% commission basis.

A spreadsheet with the costs can be accessed here. This would apply to agents associated with a company in Central New Jersey.

You’ve completed your pre-licensing school and passed the New Jersey state exam. Now what?

Obtaining some practical experience through training will lead you to a successful career. Look for schooling in Prospecting, Demonstrating Properties, Negotiating and Closing Techniques. Having this presented to you by instructors who have experience in the real world is extremely important.

Instruction and training in making presentations to buyers and sellers is important. Whether this presentation is made orally, visually or with the aid of a presentation program, you will want to become proficient in answering your potential clients questions and concerns.

You will want some hands-on training in the methods of preparing a market analysis for your buyer and seller clients. Helping them to understand the value of property and the ways it is determined will be crucial to your success.

Promoting your listings to the general public should also be a part of the training course. The ability to present the property in the best possible light will only help propel your career to the heights you want.

This hands-on instruction will lead you on the Road Map to success.

Contact me should you want more information on the programs Weidel has to offer.

ORGANIZATIONAL SKILLS
There is a lot to keep track of in this business, and you are often working with multiple customers at a time who are in various stages of a transaction. The more organized and consistent you are, the less risk to you and the greater the rewards.

COMMUNICATION SKILLS
A key element of a sales associate’s success is the ability to identify, understand and meet a client’s needs. Communication skills, especially listening skills, are critical.

CONFIDENCE
Great sales associates know they have the skills necessary to help people realize their real estate goals.

EMOTIONAL STRENGTH
Real Estate sales is an emotional business, and requires the ability to overcome resistance and maintain a positive attitude.

PHYSICAL STAMINA
Listing and selling property requires hard work and flexible hours.

RELATIONSHIP SUPPORT
Great sales associates need support through the confidence, trust and understanding of their families. Their families need to have a clear knowledge of the demanding nature of a real estate career.

FINANCIAL STABILITY
Sales associates are paid only if and when a transaction closes (reaches settlement.) You will need a savings that will ensure you can live comfortably for the first few months of your career, so you can concentrate on helping your customers and not commissions.

TEAM PLAYER
The real estate sales associate is an independent contractor who interacts on a daily basis with a variety of professionals. Yet while a sales associate is independent, they are also an important part of the company team.

ADAPT TO CHANGE
This business and the real estate market changes constantly. Accepting change and adapting quickly is imperative.

SERVICE ORIENTED
Service to your client is what guarantees your success. Know what services you and your company can offer, and be able to articulate and implement them at all times.

There are 3 stages in a salesperson’s career: Stage 1 is the Prospecting Stage and most difficult – it is up to the person, virtually unknown in an industry full of experienced agents, to begin the uphill climb. Stage 2 is the Consolidation Stage, where referrals and repeat customers start to seek out the Associate. Stage 3 is the Reward Stage, where the bulk of the Associate’s business comes from referrals and repeat clients.

We act in the capacity of a Career Coach to help decide if a career in sales is right for you. Through our experience, we have found that people don’t succeed at real estate sales for two reasons: 1) their personality profile is not conducive to sales or 2) they did not receive the proper training. In Stage 1, the onus and drive to succeed lies within the Associate but at Weidel we train, coach and mentor to make this process easier. In Stage 2, the Office Manager acts as a coach and consultant to help develop a foundation for sales success. In Stage 3, the Office Manager acts as a business advisor, helping ensure sustained longevity and growth.

We hope to help you gain a better understanding of real estate sales and, most significantly, how these opportunities might blend with your personal ambitions, qualifications and goals. Remember, there are all kinds of reasons to consider real estate and that’s what’s phenomenal about this industry. All sorts of people with different backgrounds and abilities can make a great success for themselves in real estate, each in their own way.

If you’re like most of us, you may have never visualized yourself in sales. But you will discover that success in real estate requires qualities and abilities many of us already possess and bring to everything else in our lives. By consistently applying the appropriate characteristics to real estate sales, we can achieve a unique level of success and self-determination.

What I’m suggesting is that real estate sales can be the vehicle to help you reach your personal goals; whether that is helping people, freedom and independence or monetary achievement. Real estate sales can be your vehicle to reaching your monetary goals and career happiness. If you have the skills to make it, we can help you decide the best course of action with our Success Profile System.

Why not give me a call or email?

(Except from:)

REACHING FOR 6 FIGURES

Sunday, January 28, 2007
BY JOSEPH R. PERONE

Job: Real estate agent
Works for: Real estate sales company
Income range: $40,000 to $800,000

The residential real estate business has slowed considerably, but the profession can still provide a hefty income. Real estate agents earn a percentage, or commission, on the sale of a house. For example, if the total commission is 6 percent, and that amount is split between the listing and selling agencies, each agency gets a 3 percent commission on the sale. Generally, the agency then splits its share with the agent, so the agent can expect to make $6,000 on a $400,000 home, according to Ric Martel, general sales manager for Prudential Zack Shore Properties in Sea Girt.

“So you would need about 16 to 17 deals to make $100,000,” he said.
Of course, agents who are more experienced and sell more properties can get a higher commission split from their agency.

Retired teachers, nurses and people in customer service often turn to the real estate profession because they can learn to juggle 15 or 20 buyers and sellers at a time, he said.

“The good agents are making more than they were before, because the part-time agents are getting phased out,” said Martel, a broker for 15 years.
To get the job, you need 75 hours of classroom instruction from an accredited real estate school, adult-education center or community college. Students must pass that school’s exams and then pass the New Jersey Real Estate Commission exam to become a licensed real estate associate in the state, he said.

To obtain a broker’s license, you need to accumulate three years of experience, then go back to school for 150 more hours and take another state exam, according to Martel. Agents who have a broker’s license can become a manager or open their own agency.

On January 16, 2010, P.L. 2009, c. 238 (“the Act”) was signed into law. This Act amends the Real Estate Broker and Salesperson law to require real estate licensees to complete Real Estate Commission approved continuing education courses as a condition to the biennial renewal of their real estate licenses. The Act also creates a new licensing category of referral agent.

The continuing education requirement is not in effect for the 2011 renewals. It will be effective for the 2013 renewal, and approved continuing education courses will be available by on or about July 1, 2011. The licensing category of referral agent is not available at this time. It will be available at renewal in 2011.

Over the next year, the Commission will be promulgating administrative rules to implement the Act, including standards for provider and course approval. The Commission will also issue a bulletin shortly summarizing the Act.

The continuing education requirements that licensees will be subject to can be found here.

The New Jersey Real Estate Salesperson Licensing Course requires that you attend classes for 75 hours. The course schedule is set up so that you can opt for different time slots that would fit your lifestyle.

The course is offered as a two-week intensive version. It runs Monday through Friday from 9:00 AM to 5:00 PM. The next session at the Princeton School of Real Estate begins on July 5th, running through July 16th.

The course is also offered on Saturdays, which means ten days from 9:00 to 5:00. The next ten week session begins on October 2, with the Thanksgiving Saturday being a day off. You could finish the course before the end of the year.

The other option is the method I used some years ago, taking evening classes. It allowed me to continue earning some money at the “real” job while training for a different career. The evening classes start at 6:15 PM and run until 10:00 PM on Tuesdays and Thursdays. The total time frame is once again about 10 weeks. There are two more sessions scheduled this year, beginning on July 6th and October 12th.

The Princeton School of Real Estate location is 2490 Route 31 North in Pennington, New Jersey.

Interested? Let’s talk.

The current cost for the schooling at The Princeton School of Real Estate is $349.00 plus the cost of the text. I believe that most schools will be very competitive with The Princeton School of Real Estate, that your decision will probably be based on proximity for commuting.

The tuition cost will cover the math instruction, all documents for the state exam, diploma, and placement assistance should you wish it. The school is approved for veterans benefits and will provide transcripts for New Jersey and Pennsylvania.

A very high percentage of the students pass the state examination the first time, however, should you not reach the 70% correct, the Princeton School of Real Estate will allow you to attend any of the sessions for a period of ONE YEAR after your graduation date for FREE.

For more information, click on the link to your right or call 609-737-1525. Tell them I sent you….

My introduction to real estate was a course that followed the book entitled Principles and Practices of New Jersey Real Estate by Frank W. Kovats. The book is over 500 pages in length and is extremely comprehensive.

You will learn about the Historical Development of New Jersey Real Estate and the influence of the National Association of Realtors. Much time will be spent on the New Jersey Licensing Laws.

You will be instructed about land, land elements and water. You will gain knowledge about Personal Property and Fixtures; Estates and Interests in Real Property; and Methods of Ownership. You will learn the basics of Dower, Curtesy, Wills and Descent and all about Easements, Restrictions and the Rights of Adjoining Owners.

There will be a sections about Listings, Agency, Contracts, Leases, Deeds and Mortgages. Liens, Foreclosures and Redemption will be covered. Anti-Discrimination and Federal Fair Housing Laws will be presented.

In addition to other aspects of the profession, a significant portion of time will be spent on learning Real Estate Math.

Interested? Please, contact me.

If you have been contemplating becoming a real estate sales person, we will lead you through the steps necessary.

To qualify for a New Jersey real estate salesperson’s license an applicant must be 18 years of age or older, have a high school education or equivalency, complete a 75-hour prelicensure course at a licensed school and pass the license examination. After successfully completing the course and passing the examination the applicant must apply for a license through a sponsoring real estate broker. In addition the Commission must be satisfied as to the applicant’s honesty, trustworthiness, character and integrity!

The license applications for all real estate agents require full disclosure of any crimes, misdemeanors, criminal accusations, child support problems, and whether the applicant has ever had a real state license revoked, suspended or denied in any state. Applicants need to provide proof that they are either U.S. citizens or an alien lawfully admitted for permanent residence. Applicants must apply for their examination and license within one year of completion of their education courses. New Jersey does not have reciprocity agreements with any other states.