If you’ve ever watched those typical real estate shows on HGTV, you might have thought about how easy it is to become a broker. After all, you’re social, funny, and can keep a conversation going the way you want it. Right? It’s that simple. Right?
Not quite. Being a broker requires much more than that. You need to be on your toes at all times and withstand the high workload that often comes with this kind of job. If you feel up for the challenge, then head on over to some courses, but not before reading our useful tips.
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Build and Consolidate Your Relationships
Well, you won’t be marrying your clients, but that doesn’t mean that your connection to them should be casual. You need to build up trust and gain a reputation for being reliable so that they’ll recommend you to others as well. In fact, certain states impose so-called “fiduciary duties” that a broker needs to pertain to if they want to keep their license:
- Loyalty
- Care
- Obedience
- Accounting
- Disclosure
- Confidentiality
Still, even if you’re as careful as can be, when something goes wrong you might want to get insurance for brokers so that you can recover financially from any blow you might take.
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Juggle Multiple Roles
A broker isn’t just a broker. They are a salesperson, matchmaker, advocate, coach, counselor, teacher, accountant, advertising wiz, and a market expert. All at the same time, obviously. While it is a lot to handle, there are very few chances you’ll ever get bored.
However, some people might feel extremely overwhelmed when having to play so many different roles. Think carefully about this career option if this kind of thing scares you to hell and back.
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Be Your Own Business Manager
The thought of being your own boss is a tempting one, there’s no doubt about that. However, it’s not for everyone. And while you could add this title to our previous point, we think that being your own manager and boss is a whole ‘nother challenge on its own.
You’ll have to do your own taxes, your own research, sign all your documents, contracts, and so forth. It’s a lot of paperwork. Yes, A LOT. Are you up for the challenge? Great, ‘cause that’s what your future is going to look like.
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Be Prepared for Long Work Hours
Being a broker requires total dedication and commitment. Sure, the money is nice, but your responsibilities take time to fully understand and manage. Even after you’ve “mastered” certain things, they will still take up a lot of your time to complete.
There’s a reason why those suits need cleaning often. Speaking of which, make sure to take a lot of self-care products with you. You’ll probably need them during that long workday. Plus that such a kit can save you when you don’t even expect it.
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Respect the Unwritten Rules of the Code of Ethics
Even though brokers rarely work together if they’re not in the same agency, that doesn’t mean that they don’t have a set of rules that they abide by. For example, you should never talk dirty about one of your colleagues. Healthy competition means becoming better than your peers, not putting them to shame or sabotaging them. Think of it the same way you’d want other domains to function. That’s basically it. Respect, ethics, and manners. Those are key elements for a broker.
Final Thoughts
Are you ready to be a broker? Then we wish you the best of luck! It’s not the easiest job in the world, unlike how some televisions and people make it seem.
However, it’s a satisfying job that will net you a lot of money, friends, and important connections that can help you out in multiple ways than many could even imagine.
If you have a friend who also wants to become a broker, make sure that they read this article, as you might be surprised how many people don’t know these simple facts.