10 Things to Do After You Get a Real Estate License

A real estate license lets you become a real estate agent, but it doesn’t guarantee a successful career. That’s where the hard work and tenacity come in. To make it easier for you to start your career in the best way, we outlined the 10 most important things you need to do after you get your license.

#1 Find a Real Estate Brokerage

After completing your pre-licensing education and getting your real estate license, the law requires that you work under a real estate brokerage. Because of this arrangement, brokerages play a crucial role in determining an agent's success. 

Finding a brokerage to work with for the first time may tempt you to choose one with low fees and commission splits. However, these brokerages offer less support than you need as a new agent. Here are the essential things to look for when finding a real estate brokerage.

• Mentorships and coaches
• Career training
• Available resources

Once you have found a real estate brokerage that is right for you, the next step is to interview with the brokerage. Setting up this interview is simple. All you need to do is get in touch with the brokerage, express your interest, and schedule a meeting time.

#2 Share the Word with Your Sphere of Influence

In real estate, your sphere of influence (SOI) is everyone you know, from acquaintances to family members. The sphere of influence is something that every agent has and can make use of.

What makes your SOI so important is that most of your clients, at the start of your career, will come from the people you know.

A buyer or seller is more likely to hire an agent they know over one they don’t. So, when you have a big SOI, and they know you’re a realtor, the odds of finding a client from your network increase.

#3 Join the Real Estate Boards (Local, State, and Federal)

According to the Internal Revenue Service (IRS), a real estate board consists of members interested in improving the business conditions in the real estate field. They are not organized for profit, and no part of the net earnings inures to the benefit of any private shareholder or individual. 

Some examples of real estate boards are the National Association of Realtors (NAR) and the California Association of Realtors (CAR).

A real estate board membership is the difference between real estate agents and realtors. Although both professionals guide clients through real estate transactions, realtors have boosted their businesses by going further to increase their credibility. In addition, these boards provide membership benefits and perks, a support community, a network of fellow realtors, and several discounts and savings.

Becoming a member of a real estate board requires taking the NAR’s Code of Ethics exam. You must also be affiliated with a broker with an Association of Realtors membership.

#4 Join the MLS

The Multiple Listing Service (MLS) is a private database established by cooperating real estate brokers to provide data about properties for sale. Real estate professionals also use it to assist their clients with buying and selling property. 

The MLS is a vital resource for real estate agents. With it, real estate agents can search all the houses for sale in an area and get detailed breakdowns of the house, including bedrooms, bathrooms, square footage, the house’s history, listing price, etc.

#5 Create a Real Estate Website

Websites are an excellent way for agents to generate leads, establish their expertise, create brand awareness, and provide up-to-date information to the public. Here are several features that make an excellent real estate website.

• Strong Search Engine Optimization (SEO)
• Responsive design and straightforward navigation
• Messaging capability
• Images, videos, and virtual tours
• Contact information
• Market data and information

When creating a real estate website, you can outsource to a web developer or handle the creation yourself.

#6 Schedule "Coffee Dates"

This comes from top-producing agent, Richard Schulman. Richard runs a top .1% real estate team and has made more than a billion dollars in sales. He understood that lead generation is the most important thing a real estate agent can do. He created a system that let him deepen relationships, build trust, and book clients. He called this "coffee dates."

Richard set up 30-minute coffee get-togethers with contacts in his database. On a recurring basis, he would set up these dates with people he hadn't spoken to in a certain amount of time. When he got together with them, he would catch up and hear how they've been. Eventually the conversation would come back to real estate in which he would ask them if they need any services.

"Coffee dates" are a simple yet powerful way to find new clients. Either the person you meet needs help, they know someone who does, or you catch up with someone who will eventually need help. This is a great way to stay top of mind and get a good caffeine boost.

By the way, we created a online video program with Richard. It's called From Rookie to Rockstar. It's a 6+ hour online video training program that teaches you how to find your first real state client, how to close more deals, and how to earn bigger commission checks.

#7 Decide If You are Ready to Join a Team

You can join a team or go solo when you become a real estate agent. Below are a few pros and cons of joining a team:

Pros

• Bigger pool of leads
• Early learning opportunity at the start of your career
• You have access to more knowledge
• You can leverage brand name

Cons

• You don't get to choose who you work with
• A potential clash of personality
• Additional commission split
• You're branding the team and not yourself

If you still need help deciding if a team is right for you, consider what kind of leads you will have when you start your career. If you have an extensive network of people ready to buy and sell real estate or are willing to refer you to a family member or friend, joining a team might slow you down. Whereas if you have a smaller network, a team could help create a foundation for you.

#8 Find a Real Estate Mentor

A mentor is an experienced person who educates or gives help and advice to a less experienced person. Having a real estate mentor is always a good idea, especially when you are new to the industry. Your mentor can be anybody as long as the person has gained enough experience to guide you.

Your real estate brokerage may run mentorship programs to match new agents with experienced ones in your office for professional development. However, if they don't, you can just walk up to an older colleague and make your intentions known

#9 Attend Training Classes

Even after getting your real estate license, you need to keep learning and acquiring knowledge. So seek out training classes that can help elevate your career. Typically brokerages offer training seminars for their agents to help them become better negotiators, learn about contracts, and establish good workflows.

#10 Determine Your Why

The one thing that will keep you going when the going gets tough is your “why.” Your “why” is why you became a real estate agent and your big goal. In moments of stress or when you lose your way, your “why” can serve as your north star guiding you back on the path of success.

So, take a moment to identify what keeps you motivated and pushing forward in your career. That way, when you face challenges and obstacles, you can take a moment to reflect on your “why” to spur up the inspiration to persevere.