After Getting Your Tennessee Real Estate License: What’s Next?Jan 04, 2021
Congratulations, you’re officially a real estate agent in the state of Tennessee! You did the hardest part, and now you get to reap the rewards. If you’re wondering what happens after you get your Tennessee real estate license, you’ve come to the right place. The hours of studying and completing courses and exams are over, and now the fun part begins. Keep reading as we discuss what comes next in your real estate career so that you can start on the right foot.
Let’s get started!
What Happens After You Get Your Tennessee Real Estate License?
Though the steps that come after becoming an official real estate agent in Tennessee can be challenging, they can also be rewarding. Now is the time to build your sphere of influence and start selling homes and properties. Read on for a few insights to help set you on the right path so that you can quickly start making money in the real estate industry.
Choose The Right Broker
Almost every state requires that you have a sponsoring broker because you can be issued your real estate salesperson license. When you have an experienced broker on your side at the beginning of your career, you’ll likely be more successful more quickly. They have years of knowledge and experience, plus a ready-made network, and they will be able to get you through those first few tricky transactions. With their guidance, you will stay afloat for the first few months and learn from them and avoid mistakes.
Sometimes new agents are hesitant to work underneath a broker in Tennessee because they want to be their own boss. However you need to look at a broker as a mentor. They can help you get started, teach you some insider information, and make sure you’re building yourself up for success.
When you’re picking a brokerage to team up with, try looking for one that already has a good reputation. Look for a team that invests in their agents and helps their team grow. Successful brokerages have successful agents, and they will set their agents up for success. Do some research and reach out to various brokers to see who you might be able to build a relationship with.
Plan A Marketing Budget
Many first-time agents don’t consider that when they go into business for themselves as agents, all the marketing efforts and expenses fall on them. Though having a sponsoring brokerage will help you hook up with marketing materials and a database to get you started, you are responsible for building your business and your network base.
If you’re a new agent and wonder what happens after getting your Tennessee real estate license, we have a few things to note. The most important thing is to never stop marketing. Be prepared at all times to talk about what you do and how you can help. Ensure that your website and your social media accounts are up to date and branding yourself as an agent. The key to a successful career is to build connections with potential clients and other professionals in your industry.
It can take up to 3-6 months before earning your first commission. Talk to your brokerage who might be willing to work with you on retainer while getting settled for those first few months so that you aren’t entirely without a paycheck right at the beginning. One way some agents help supplement their income is to earn commissions by leasing rental properties. Typically the turnaround time is much faster than traditional home sales, and it doesn’t take as much time or experience.
The best thing you can do, is to talk to your real estate mentor or sponsoring broker. They will help you figure out which marketing tools you and advise you on how to get more exposure in the area.
Join Organizations To Help You Learn and Grow
One crucial piece of advice we would like to give is to get involved with various professional real estate organizations or associations in the state of Tennessee. Find a networking group to help you connect with other agents and professionals in your area. This networking group can help you gain referrals and earn a better reputation in your town. They also help you learn more about your industry and grow your business, and maybe gain some friends along the way.
Start with the National Association of REALTORS® (NAR). Agents in this association are considered more educated and more ethical than other agents. Being a part of this group elevates your status as someone who holds themselves to a higher code of conduct. However, there are dozens of groups you can join to help you boost not only your network base but your knowledge of the industry and even your reputation.
Networking Is Crucial
The main reason to join real estate organizations like those we mentioned above is to widen your sphere of influence and your potential clients’ network. The best thing to do is build a database of potential clients, start with the people you already know, and then build lasting relationships with as many people as possible. That includes people related to your industry, like real estate attorneys, title companies, general contractions, and anyone else that can help you get more referrals to grow your business.
One easy way to build your network is to host and attend open houses. You can also invite your team and others in your industry or surrounding industries out for coffee to get to know them better and earn their trust. Attend local and regional meetings and conferences to help you build contacts more organically. Always keep your business cards handy and keep your social profiles professional and up to date. At the end of the day, a successful real estate career is about staying on top of your client’s minds.
As an agent in Tennessee, the best advice we can give you is to build and organize your database of contacts early. Every person you meet and interact with could be a potential client, and they should go into your database. Take notes on what you learn about them, from where you met, who their family is, what they need real estate wise, and more. Anything noteworthy goes into your database. When you take care of your clients and potential clients, learn as much as you can about them, and remember those things, you can make a lasting impression.
Every real estate journey is different for every person - you’ll have to pave your own way and learn as you go. The best thing you can do for yourself from the beginning is to find a strong mentor. They’ll help you build and maintain a database of clients and help you create a stream of consistent clients throughout the years.
Now that you’ve got your license and a stream of tips to help you move forward, we hope you’re feeling confident and excited about the journey ahead. The hardest part is truly behind you, and you’re equipped with everything you need to get started. Lean into your brokerage, don’t be afraid to ask questions, and have fun! The best is yet to come.