After Getting Your Missouri Real Estate License: What’s Next?Jul 31, 2020
You did it. You took the courses, you passed all the exams, and now you’re officially a real estate agent in the state of Missouri. Congrats! The hard part is over and now you’re wondering what happens after you get your Missouri real estate license. Now that the hours of studying are behind you, the fun stuff can begin. Read on as we discuss what happens next in your real estate career so that you have a better idea of the next steps after you get your license.
Ready to get started? Here we go!
What Happens After You Get Your Missouri Real Estate License?
Now that you’re an official real estate agent in Missouri, the next part is challenging - but also really fun and exciting. It’s time to build your sphere of influence and actually start selling homes and properties. Here we give you a few insights to hopefully help you get on the right track to start making money in the real estate industry.
Choose The Right Broker
It’s typical for the state to require that you have a sponsoring broker before officially being issued your real estate salesperson license. Having an experienced broker on your side at the beginning of your career is a great idea. With years of knowledge and experience, plus a ready-made network, they’ll be able to help you get through your first few transactions. Under their guidance, you’ll be able to stay afloat for the first few months of your career and learn some tricks of the trade.
Are you a little hesitant to work underneath a broker? Maybe you’re thinking that the beauty of being a real estate agent in the state of Missouri is to be your own boss. Even with state law requiring you to have a sponsoring broker as a buffer, we still strongly recommend finding a broker as a mentor, especially when you’re just starting out. They’ll help you get started so that you can build your career the right way.
When you’re starting to look for the right brokerage to team up with, we suggest looking for a team that already has a good reputation. Do they offer continuing education to their agents? Are they willing to invest in their agents? The best brokerages know that having successful agents means having a successful brokerage, and they’ll be willing to provide you all the resources you need. Do a little research and find a broker that you can build a good relationship with.
Another quick tip to help you find the right team to work with in your state is to research what they specialize in. What kind of properties do you want to work with? Align yourself with a brokerage that has knowledge and experience in the area you’re trying to specialize in. If they have similar goals to you, they’ll be able to help you more specifically.
Don’t Forget To Plan A Marketing Budget
When you’re going into business for yourself, all of the marketing efforts and expenses that come with that fall on you. Though your sponsoring brokerage will most likely hook you up with marketing materials and referrals to get you started, ultimately it’s your responsibility. It’s time to get your name out there.
If you’re an agent wondering what happens after getting your Missouri real estate license, the first piece of advice we can offer is to make sure you’re always marketing. You should be prepared at all times to talk about what you do and how you can help. From your website to your social media, make sure you’re branding yourself as an agent. Building your real estate career is all about building connections, not only with potential clients but also with other professionals in your industry.
Oftentimes it can take up to 3-6 months before earning your first commission. Your brokerage might be willing to work with you on retainer while you’re getting settled for those first few months so that you aren’t completely without a paycheck. An easy way to help you get started and start earning a little income is to earn commissions by leasing rental properties. The turnaround time is faster than traditional home sales, and it also requires a lot less experience.
We suggest you start by talking to your real estate mentor or sponsoring broker. They’ll help you figure out the best marketing tools and give you tips to get more exposure in your area.
Join Organizations To Help You Learn and Grow
We think that getting involved in various professional real estate organizations is crucial for growing your business. You’ll want to find a group to help you connect with other agents, professionals in your area, and people who can help you build a network of referrals. Networking groups are a great way to grow your knowledge of the industry and gain some great friends.
Start with one of the most important groups for any agent in Missouri to join - the NAR or the National Association of REALTORS®. Agents who are a part of this association are typically considered more ethical and educated agents. This particular membership elevates you as an agent and you’ll be considered to hold yourself to a higher code of conduct. Besides this though, there are dozens of organizations that you can join to help you boost your knowledge, your network base, and your reputation.
Network, Network, Network!
Like we mentioned above, the main reason you should join real estate organizations and associations is to widen your network and your sphere of influence. The best thing to do is start with the people you already know, and then start building lasting relationships with as many people as possible. That includes people related to your industry, including real estate attorneys to general contractors, title companies and more, all of these industries can help you get more referrals to grow your business.
One way to build your network is to host and attend open houses. Another idea is to invite your team and others in your industry or surrounding industries out for coffee. You can also attend local and regional meetings and conferences is another great way to help you build contacts in a more organic way. Make sure you keep your business cards handy and keep your social profiles up to date. The key to a successful real estate career is all about staying on top of your mind.
If you’re a new agent in Missouri, the most important advice we can give you is to build your database and stay as organized as possible. Keep in mind that every person you meet could be a potential client and should go in that database you’re building. Take as many notes as you can - where you met, what they do for a living, and what they want in terms of real estate. Put anything noteworthy should go into your organized database. You can make a lasting impression when you take extra special care of your clients and potential clients.
At the end of the day, every real estate journey is different, and every agent has to pave their own way. The best thing you can do for yourself is to set yourself up with a strong mentor to help you at the beginning of your career. They’ll help you build and maintain a group of potential clients and make sure you have a stream of consistent business throughout the years.
We hope that we gave you at least a couple tips to help you move forward with your real estate career now that you’ve got your real estate license. The hardest part is behind you, and you’re now equipped with everything you need going forward. Lean into your brokerage and don’t be afraid to ask questions! The best is yet to come.