After Getting Your Texas Real Estate License: What’s Next?Nov 26, 2019
You’ve successfully passed all of your real estate exams! Congratulations, you are now officially a licensed real estate agent in Texas. Now that all that stress and planning and studying is over, you’re probably itching to get started. But what comes next? Luckily, we think that the next steps after getting your real estate license in Texas is the fun part. This article covers a few basic details on what happens next so that you can start crushing it in the real estate industry.
Ready to get started with your real estate career?
What Happens After You Get Your Texas Real Estate License?
You’ve got your Texas Real Estate License and hopefully had a minute to rest. After the testing comes the fun and challenging part - actually building your sphere of influence and selling properties! Keep reading for more helpful tips to help you actually start making money in the real estate industry.
Find A Sponsoring Brokerage That Works For You
Most states require that aspiring real estate agents find a sponsoring brokerage before even getting your license. If you’re just getting started, it’s usually recommended that you lean into a team atmosphere and find a brokerage because of their years of knowledge and their established network. Finding the right broker can help you maneuver your first transactions and give you tips along the way.
Since state law already requires you get the guidance and protection that comes with a brokerage, you’ll be happy to take on a mentor to help your career. There is a lovely appeal in becoming an agent because you get to set your own schedule and work for yourself, but it’s nice to have a team to help as you start.
One thing to look for when it comes to teaming up with a brokerage is for a team that has an outstanding reputation in Texas. You also want to look for one that already has an established continuing education program. Some of the best agents are born because they have a brokerage behind them that is willing to invest in them. A successful brokerage means successful agents - so do your research and look for a way to build up a good relationship with the broker and the team.
The last tip we have for new Texas real estate agents looking for the right brokerage is to consider what you want to specialize in. Are you looking to become a commercial agent or are residential homes more your speed? Align yourself with a brokerage that has similar goals and knows how to help you get where you want to be.
Really Plan Out Your Marketing Budget
Since you’re in business for yourself now, you’ve got to manage all the marketing and expenses that come with that. Though some brokerages are great about getting new Texas agents off their feet, it’s ultimately your responsibility to make sure you get your name out there.
Our advice? Always be marketing. Whether that means constantly handing out business cards or building an online presence, everything you do can feed into how you come across to others. The thing to remember is that the most important part is to make lasting connections. That means building relationships with potential clients and also with professionals in your industry and surrounding industries.
Often times it can take up to 3-6 months before a new agent earns their first commission. Though your brokerage might help you stay afloat the first few months and help you work off a retainer, there are other ways to make a little bit of money. Some agents get started and earn their marketing budget is to earn smaller commissions by leasing rental properties. It requires less experience and the turnaround time is a lot faster than selling a house or building.
Talk to your sponsoring brokerage or real estate mentor. They can lead you in the right direction when it comes to the best marketing tools and what works best in your area.
Join Key Organizations To Help You Grow
A great way to connect with other professionals, grow your sphere and network, and also grow your knowledge is to join some real estate organizations.
One of the most important associations for any real estate agent is the NAR or National Association of REALTORS®. When you’re a part of the NAR, then you are considered an educated and ethical real estate agent. This membership is what sets you apart from other agents, as you are expected to hold yourself to a higher code of conduct.
Though this is one that is really important, there are literally dozens of groups you can join to help you expand your knowledge, give you more opportunities to network, and boost your reputation.
Network, Network, Network!
The main reason you should even consider joining professional marketing groups is so that you can widen your sphere of potential business. Typically people in the industry build their database by starting with the people they know. However, it is pretty crucial that you build relationships with as many people as you can. From real estate attorneys, title companies, general contractors, and more - these people can help you grow your business and help you grow your business.
A couple easy ways you can build your network is to host open houses, go out to lunch or coffee with your team, and attend both local and regional meetings. Again, joining local networks is always a great way to give you an extra leg up and build a contact list in an organic way. Keep your business cards handy at all times and try to stay consistent and top of mind on social profiles.
One of the biggest pieces of advice that we can give to agents who have just passed their exams and are official agents in the state of Texas is to organize your database right away. Every single person you meet could be a potential client and should go in the database. Document where you met them, any crucial information about them, and how you could connect again. Take notes on birthdays and anniversaries, kids names and occupations. This type of organization sets you apart and can help you build a reputation.
Becoming a successful real estate agent in Texas is a journey and there are many roads you might have to pave. Starting with a strong mentor can help you start a successful career and help you build up your network. When you go all in at the beginning, you can then maintain consistent business throughout your entire career.
Hopefully we’ve been able to give you some easy tips to help get started with happens after you pass your exams. The biggest and most challenging step is behind you. You’ve got your license and you should have everything you need going forward. Just lean into your brokerage and don’t be afraid to ask questions and make mistakes. There is a world of opportunity just waiting for you!