What to Expect in Your First Year as a Real Estate Agent

You’ve taken the leap, worked hard to get your real estate license and are ready to begin your career with your brokerage. Like any new career, you’re likely to experience some challenges and growing pains in your first year as a REALTOR®.  While no two agents are the same, as a new agent you’ll face similar events and activities to your colleagues, the first of which is getting your business started. That’s where your partnership with a brokerage like Expect Realty that will mentor and train you in the ins and outs of connecting with buyers and sellers, contracts and utilizing technology to your advantage is crucial.

Real-World Learning and Support
As you worked your way through your real estate coursework, you gained a tremendous amount of knowledge about the real estate industry. This will serve as a great foundation as you begin to get real-life experiences working with clients. Working with your brokerage will help you gain local market knowledge and understand trends. No client is the same, and you may get thrown some curves, but having a seasoned broker as a mentor will help you learn how to handle them.

Training of new agents, as well as the veterans, and giving them the tools needed to be successful is one of the core values, “Win or Learn,” at Expect Realty. Expect has some of the best real estate agents in Gulfport, Biloxi, Ocean Springs and the surrounding coastal communities because of this training.

Who Do You Know?
In real estate the more people that know you’re a REALTOR®, the more potential clients you have. Your success in real estate, or any other sales position, is built by generating leads, networking and building relationships. Think of all of the people you know – family, friends, neighbors, former co-workers, etc. They’re in your sphere of influence (SOI), and are now prospects. During your first year as a real estate agent, making yourself visible at community events, networking, volunteering, connecting with friends and family, and simply picking up the phone and cold calling people will help you grow your SOI and subsequently, your business.

Each morning, new agents at Expect Realty spend time prospecting, connecting with leads generated by the brokerage or members of their SOI. For those not currently in the market to buy or sell real estate, this gives agents the opportunity to get their name and the brokerage’s name top of mind for when the time is right to buy or sell a home on the Mississippi Gulf Coast.

Tracking Your Finances
You will be supervised by your broker, but in most circumstances you will be an independent contractor and actually building your own small business. Keeping track of finances and maintaining good records is a necessity. Establishing a system now, as you’re starting out, will pay dividends as your business continues to grow in the coming years.

Your personal finances may also need to be more streamlined as you get your real estate career off of the ground. First-year agents generally do not have the earnings of a more seasoned agent who has been cultivating and nurturing leads for some time. Many of the expenses you’ve incurred to start your real estate career, and those you’ll encounter are tax deductions. You’ll want to keep good records of those for when it’s time to file as a 1099 contractor. 

Asking for Help
Another of the core values at Expect Realty is “We Before Me.” Never be afraid to ask for help during any phase of working with a client. Every agent and broker at Expect has been in your shoes as a new agent, and understand the challenges. We value each other, respect each other and help each other. Our brokers and experienced agents are great resources to new agents, as well as each other!

Bottom Line
As you begin your career as a real estate agent, building your business can pose some challenges. Working with a brokerage like Expect Realty will help you get the training and resources necessary to build a successful career as a REALTOR®.

If you are interested in learning more about Expect Realty, or how to become a licensed real estate professional in Mississippi, visit us at an upcoming Career Night. Career Nights provide an opportunity to visit our D’Iberville office, meet our agents and learn about the culture at Expect Realty. For information on an upcoming Career Night, click here or email joinus@expectrealty.com.