Real Estate Agent and Trainer, Robert Rico, makes a mention to our interview with Stephen Bello to provide you with some more insight as to what it takes to become a successful real estate agent. Do you want to see more video blogs? Subscribe here!
Experienced Real Estate Agent, Stephen Bello, answers common questions from people wanting to become a real estate agent. How do you break into the business? How much do agents earn? Is it practical to sell real estate part-time?
WHAT ARE THE THREE MOST IMPORTANT THINGS TO KNOW TO BECOME A SUCCESSFUL REAL ESTATE AGENT?
The top 3 most important things to be a successful Real Estate Agent are:
- 1. Self-discipline
- 2. Be a good listener
- 3. Know your market better than anyone else.
HOW LONG HAVE YOU BEEN IN THE BUSINESS, AND WHY DID YOU CHOOSE REAL ESTATE?
I have been full time in real estate for about 28 years. I fell into real estate by accident, but I have chosen to stay because of the freedom. Every deal I work on is different from the prior, and it is challenging!
DO YOU WORK ALONE OR AS PART OF A TEAM? WHAT ARE THE ADVANTAGES AND DISADVANTAGES?
I have worked as part of a team for most of my entire career. The biggest advantage is delegating the needed tasks to other individuals, which then frees up my time for prospecting, and closing. The other advantage is consistent frequent pay checks. Although the checks are smaller since you are sharing with the team, in the end that will balance out. I recommend the team concept over flying solo.
IS REAL ESTATE YOUR FULL-TIME OR PART-TIME CAREER?
I have been full-time since the beginning, however I had two additional jobs my first year. The additional jobs took up ALL of my nights and weekends but still left me to do real estate full time. I dropped those jobs after a couple of years. However, had I been prospecting instead of working other jobs, I would have made a lot more money. I was just scared.
PLEASE TELL US A SPECIFIC EXPERIENCE THAT YOU WILL NEVER FORGET?
After several years in the business I was starting to get a little frustrated. I was making great money, but I was still having a hard time grasping the concept of the infrequent paychecks. I sat down with a mentor that told me he had struggled with the same thing when he was new. He mentioned that one day he just decided that this was going to be the only job he was ever going to do. Then like a light switch everything became easy and fell into place. That’s the same thing that happened to me.
DO YOU NEED TO HAVE A CERTAIN PERSONALITY TO BECOME A REAL ESTATE AGENT? WHO, DO YOU THINK, SHOULDN’T BE A REAL ESTATE AGENT?
I don’t think there is really a certain personality type that is successful in real estate. I’ve seen all kinds of personalities become successful. Anyone who has the discipline, drive, is a good listener, and knows their market will do very well.
WHAT DO YOU THINK OF THE CURRENT MARKET?
I have been through 2 sets of up and down real estate markets. This market is like no other that I have ever seen. The clients in this market are much more educated than they have ever been. Because of the internet, they come to the table with a lot of market knowledge, so you better be knowing more than them otherwise you will not get hired. KNOW YOUR MARKET! The one thing that is not different about this market, there are still opportunities. You just have to find them.
HOW MUCH CAN I EARN AS A REAL ESTATE AGENT?
A successful real estate agent can earn as much as they want to as long as they have discipline, are a good listener, and know their market better than anyone else. I have seen lazy agents make between $50,000 and $100,000 per year and successful disciplined agents making 1 million plus. It’s a big range, but what a great business to be in where you can make that kind of money and have a very low business overhead.
IS THERE ANYTHING ELSE THAT YOU WOULD LIKE TO SHARE?
I truly think this is the best job in the world. The freedom, the opportunity to meet amazing people, and the potential to make a lot of money make this job unique.
Stephen Bello is currently training Real Estate at CA Realty Training at Keller Williams Coastal Properties (Long Beach) on Tuesdays and Thursdays at 1-3pm. Check out his training session here. Training sessions start at the beginning of every month. First session includes a free introductory to Real Estate.