The Complete Idiot's Guide to Success as a Real Estate Agent, 2E

The Complete Idiot's Guide to Success as a Real Estate Agent, 2E

by Marilyn Sullivan
The Complete Idiot's Guide to Success as a Real Estate Agent, 2E

The Complete Idiot's Guide to Success as a Real Estate Agent, 2E

by Marilyn Sullivan

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Overview

Getting in—from the ground floor to the attic!

The incredible growth of the real estate market over the past few years has more and more people looking to change jobs and get in on the action. Fully revised and updated—and written by a highly regarded real estate broker, author, and lawyer—this book covers everything from whether or not real estate sales is the right career move to how to master the skills necessary to be successful.
• Includes a consideration of the pros and cons of a career in real estate sales, as well as hints for taking the exam and getting licensed
• Updated information on websites, technology, and newly-popular discounted fee structure
• Provides easy-to-follow, customizable business metrics

Product Details

ISBN-13: 9781440696893
Publisher: DK
Publication date: 12/05/2006
Series: COMPLETE IDIOT'S GUIDE
Sold by: Penguin Group
Format: eBook
Pages: 416
File size: 2 MB

About the Author

Marilyn Sullivan is an author, real estate broker, and lawyer. She has written several books on real estate and has been featured on national television. She also instructs through the California Department of Real Estate.

Table of Contents

Part 1First Things First1
1The Attraction of Real Estate3
The Satisfaction of the Job4
Qualifications for the Job5
The Call to Real Estate6
Real Estate Has No Hierarchy7
Financial Reward8
2The Spectrum of Careers11
An Overview of Career Choices12
Personality Profiling12
Residential Sales16
Commercial Sales18
Mortgage Brokers19
Property Managers20
Appraisers21
Take Your Time22
Research the Field23
What's Your Passion?24
Carving a Niche25
3A Day in the Life27
Residential Sales28
Commercial Sales33
Mortgage Broker36
Property Management38
The Appraiser40
Which Is It for You?42
Switching Careers Within Real Estate42
4Your Prelicensing Education45
The Terminology46
Requirement Exceptions46
Prelicensing Course Procedures47
Determine Your State's Requirements48
Prelicensing Courses48
Timing and Surviving49
Real Estate Principles50
Course Challenges59
5Preparing for and Taking the Exam61
A Checklist of Exam-Preparation Tasks61
Apply to Take the Exam62
Determine Exam Procedures63
Gather Information on Exam Content64
Take an Exam-Preparation Course65
Simulate the Exam Conditions66
Master Exam-Taking Strategies67
Adopt the Right Attitude68
Implement Good Exam-Taking Policies70
Part 2Getting Started73
6Choosing Your Office75
Socializing with the Real Estate Country Club76
Don't Believe All Agents76
Understanding the Relationship77
Supporting the Fable79
Choosing the Right Office79
Interviewing Firms87
Regrets of New Agents88
7Building Your Business91
A Dose of Reality Training92
Obtain Office Training and Support93
Participate with Your Realtor Associations94
Know the Market95
Manage Your Own Business99
Take Construction and Architecture Courses105
Take Continuing Education and Specialty Training106
8Building Personal and Professional Power109
The Seven Principles of Power110
Principle 1See Your Work as Your Passion111
Principle 2Develop a Burning Desire to Succeed112
Principle 3Be an Independent Thinker113
Principle 4Have a Positive Attitude114
Principle 5Be Self-Disciplined116
Principle 6Be Ethical118
Principle 7Have Good People Skills119
The Sum of the Parts120
9Building Your Power Team123
Choosing Your Power Team Members124
Partnering with Another Agent125
Arranging the Partnership126
Using a Professional Stager127
Finding Power Team Members127
Qualifying Power Team Members128
Team Motivation131
Transaction and Quality Control132
Part 3Building an Unbeatable System133
10Making Your Market135
Tap Your Sphere of Influence136
Specialize138
Market to Your Neighborhood139
Do More of What You Like139
Join Organizations140
Remind Past Clients140
Give Free Seminars140
List on Others' Websites141
Use Your Own Website142
Send Mailers144
Advertise Effectively145
Broadcast Your Career146
Prospect for Gold147
11Managing the Time Demon151
Use Your Time Well152
Beware of High-Maintenance People153
Peer Pressure154
Hire a Helper155
Partnering with Another Agent156
The Loan and Inspection Contingencies156
The Title Contingency157
Work with the Closing Professional157
12Computer Technology159
No More Alibis160
Your High-Tech System160
The Hardware You Will Need161
The Software You Will Need165
Connectivity171
Obtaining Computer Training172
Part 4Putting It All Together175
13A Master of Organization177
Make Your Computer Your Business Partner178
Becoming a Calendar Wizard181
Organizing Your Computer Files183
Synchronizing and Backing Up Data184
Establishing Your Home Office185
Setting Up a Vehicle Office188
Working Anywhere in the Field189
14Building a Referral Stream System191
Meeting People and Keeping Their Information192
Keeping Organized and Caretaking192
Step 1Setup194
Step 2Input197
Step 3Processing198
Reviewing the Referral Stream200
Examining the Philosophy201
Tips on Making the System Work201
15The New Ideal203
The Times, They Are a-Changin'204
Performing Our Fiduciary Duty204
Recognizing the Sales Scripts205
Participating in the Transformation206
Relating to the Competition213
Predicting the Result213
16A Winning Listing Presentation215
Qualifying Sellers216
Listing Presentations217
Listen to Your Clients221
Allow for Rejection223
Part 5The Parts of the Transaction225
17Representing the Seller227
Professional Staging228
Evaluating Property Problems228
Listing on the MLS230
Hosting the Broker's Open House230
Holding the Open House for the Public231
Responding to the Offer235
Handling Multiple Offers236
Facilitating the Transaction to Closing237
Dealing with a Stale Listing238
Reporting to Your Clients239
18Representing the Buyer241
Qualifying the Buyer242
Presenting to the Buyer243
Touring Buyers245
Reporting to Your Client246
Preparing the Offer246
Offer Presentation247
The Transaction Timeline and Steps247
Dealing with All-Important Contingencies252
Closing254
Acting as a Deal Agent256
19Using the Transaction Documents257
The Primary Documents258
The Listing Agreement258
Agency Disclosures260
The Purchase Agreement262
Seller Disclosures266
Agent Inspection and Disclosures267
The Settlement Statement268
Part 6Becoming a Top Dog269
20Cutting-Edge Top Dogs271
The Top Dog's Motivation272
Destination Websites272
E-Mail Productivity and Professionalism278
Specialized Training and Professional Designations279
21Giving and Getting Support283
The Top Dog Plan284
Hiring a Business Coach284
Monitoring Personal and Professional Power285
Obtaining Technology Support287
Administrative Assistance289
Obtaining Virtual Assistance295
Virtual Assistance Versus Live Assistance296
Receiving Spiritual Support297
Giving Support Through Mentorship298
22Staging Your Listings299
The Stage for Home Staging299
Staging Is a Sensitive Subject300
Convincing Clients to Stage301
What Is Staging?302
Staging Is an Investment306
23Future Income Streams309
Creating Future Income Streams310
The Rich Dad Books310
Investing in Real Estate Continually311
Take Commissions as Equity Interests311
Facilitating Stock Market Transition313
Selling Your Business317
Glossary323
Index329
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