Even though having a college degree is essential, getting into real estate is easy for everyone. It has low barriers to entry. Classically, real estate can be a worthwhile career if your heart’s in it and a couple of its basic rules are at your fingertips.
Here’s what you need to know.
It Cannot be a Side Hustle
Real estate demands significant attention, energy, creativity, and care, just like a spouse. You have to fold your sleeves and jump into it with intent, and you will succeed. Clients take you seriously when they know you are in it full time, not just as a side hustle.
Old School Principles
Lately, a lot has been drifting towards the automation bandwagon and AI. Unfortunately, or fortunately, however you look at it, real estate is still lagging. It still involves a lot of shaking hands, lunch dates, advertising, and prospecting. Real estate is still old school at the core, and a lot of legwork is essential to succeed.
It is not a Get-Rich-Quick Gig
You can name a few successful real estate professionals, and it’s true there is money, and lots of it, in the industry. However, it takes some time to build profitable relationships and credibility. Clients have a lot at stake and will need to be sure that you can be relied on before they can commit.
Besides, most people are not ready to purchase or sell a property when they first contact you. They are just exploring options to decide a year or two later. Your job is to make them understand and answer questions like is real estate a good investment in Canada and successfully navigate the market.
Resilience and Then More Resilience is Key
Real estate is full of challenges, and everything you have been working and investing for months can come crumbling down. You must be ready for such experiences and develop resilience. Even the most successful in the industry have tales to tell of countless deals that fell through. Take stock, learn from the failure, and move forward. Prop up your stamina and find solutions.
Because of the ease of entry, the real estate market is one of the most competitive. You must be repetitive and consistently productive in the way you do business so that you can stand out. There is no shortcut for hard work.
Focus on Personal Marketing
Building a name in the industry takes countless hours of networking, consistency, and making people aware that you are there. Keep informing the buyers and sellers that you are in the game and there to stay.
Be consistent in your messaging and build a reliable personal brand. Realize that the real estate market is big and has several niches. Find your niche, such as condos, townhouses, or lofts, match it with your interests or passions and run with it.
With the right effort, you will grow and become the go-to for most people in the real estate market. Be consistent and work hard.