The Complete Idiot's Guide to Success as a Real Estate Agent, 2E [NOOK Book]

Overview

The incredible growth of the real estate market over the past few years has more and more people looking to change jobs and get in on the action. Fully revised and updated (and written by a highly regarded real estate broker, author, and lawyer), this book covers everything from whether or not real estate sales is the right career move, to how to master the skills necessary to be successful.



Includes a consideration of the pros and cons of a...

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The Complete Idiot's Guide to Success as a Real Estate Agent, 2E

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Overview

The incredible growth of the real estate market over the past few years has more and more people looking to change jobs and get in on the action. Fully revised and updated (and written by a highly regarded real estate broker, author, and lawyer), this book covers everything from whether or not real estate sales is the right career move, to how to master the skills necessary to be successful.



Includes a consideration of the pros and cons of a career in real estate sales, as well as hints for taking the exam and getting licensed.



Updated information on websites, technology, and newly-popular discounted fee structure.



Provides easy-to-follow, customizable business markets.

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Product Details

  • ISBN-13: 9781440696893
  • Publisher: DK Publishing, Inc.
  • Publication date: 12/5/2006
  • Series: COMPLETE IDIOT'S GUIDE
  • Sold by: DK
  • Format: eBook
  • Pages: 416
  • Sales rank: 746,276
  • File size: 2 MB

Meet the Author

Marilyn Sullivan is an author, real estate broker, and lawyer. She has written several books on real estate and has been featured on national television. She also instructs through the California Department of Real Estate.
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Table of Contents

Part 1 First Things First 1
1 The Attraction of Real Estate 3
The Satisfaction of the Job 4
Qualifications for the Job 5
The Call to Real Estate 6
Real Estate Has No Hierarchy 7
Financial Reward 8
2 The Spectrum of Careers 11
An Overview of Career Choices 12
Personality Profiling 12
Residential Sales 16
Commercial Sales 18
Mortgage Brokers 19
Property Managers 20
Appraisers 21
Take Your Time 22
Research the Field 23
What's Your Passion? 24
Carving a Niche 25
3 A Day in the Life 27
Residential Sales 28
Commercial Sales 33
Mortgage Broker 36
Property Management 38
The Appraiser 40
Which Is It for You? 42
Switching Careers Within Real Estate 42
4 Your Prelicensing Education 45
The Terminology 46
Requirement Exceptions 46
Prelicensing Course Procedures 47
Determine Your State's Requirements 48
Prelicensing Courses 48
Timing and Surviving 49
Real Estate Principles 50
Course Challenges 59
5 Preparing for and Taking the Exam 61
A Checklist of Exam-Preparation Tasks 61
Apply to Take the Exam 62
Determine Exam Procedures 63
Gather Information on Exam Content 64
Take an Exam-Preparation Course 65
Simulate the Exam Conditions 66
Master Exam-Taking Strategies 67
Adopt the Right Attitude 68
Implement Good Exam-Taking Policies 70
Part 2 Getting Started 73
6 Choosing Your Office 75
Socializing with the Real Estate Country Club 76
Don't Believe All Agents 76
Understanding the Relationship 77
Supporting the Fable 79
Choosing the Right Office 79
Interviewing Firms 87
Regrets of New Agents 88
7 Building Your Business 91
A Dose of Reality Training 92
Obtain Office Training and Support 93
Participate with Your Realtor Associations 94
Know the Market 95
Manage Your Own Business 99
Take Construction and Architecture Courses 105
Take Continuing Education and Specialty Training 106
8 Building Personal and Professional Power 109
The Seven Principles of Power 110
Principle 1 See Your Work as Your Passion 111
Principle 2 Develop a Burning Desire to Succeed 112
Principle 3 Be an Independent Thinker 113
Principle 4 Have a Positive Attitude 114
Principle 5 Be Self-Disciplined 116
Principle 6 Be Ethical 118
Principle 7 Have Good People Skills 119
The Sum of the Parts 120
9 Building Your Power Team 123
Choosing Your Power Team Members 124
Partnering with Another Agent 125
Arranging the Partnership 126
Using a Professional Stager 127
Finding Power Team Members 127
Qualifying Power Team Members 128
Team Motivation 131
Transaction and Quality Control 132
Part 3 Building an Unbeatable System 133
10 Making Your Market 135
Tap Your Sphere of Influence 136
Specialize 138
Market to Your Neighborhood 139
Do More of What You Like 139
Join Organizations 140
Remind Past Clients 140
Give Free Seminars 140
List on Others' Websites 141
Use Your Own Website 142
Send Mailers 144
Advertise Effectively 145
Broadcast Your Career 146
Prospect for Gold 147
11 Managing the Time Demon 151
Use Your Time Well 152
Beware of High-Maintenance People 153
Peer Pressure 154
Hire a Helper 155
Partnering with Another Agent 156
The Loan and Inspection Contingencies 156
The Title Contingency 157
Work with the Closing Professional 157
12 Computer Technology 159
No More Alibis 160
Your High-Tech System 160
The Hardware You Will Need 161
The Software You Will Need 165
Connectivity 171
Obtaining Computer Training 172
Part 4 Putting It All Together 175
13 A Master of Organization 177
Make Your Computer Your Business Partner 178
Becoming a Calendar Wizard 181
Organizing Your Computer Files 183
Synchronizing and Backing Up Data 184
Establishing Your Home Office 185
Setting Up a Vehicle Office 188
Working Anywhere in the Field 189
14 Building a Referral Stream System 191
Meeting People and Keeping Their Information 192
Keeping Organized and Caretaking 192
Step 1 Setup 194
Step 2 Input 197
Step 3 Processing 198
Reviewing the Referral Stream 200
Examining the Philosophy 201
Tips on Making the System Work 201
15 The New Ideal 203
The Times, They Are a-Changin' 204
Performing Our Fiduciary Duty 204
Recognizing the Sales Scripts 205
Participating in the Transformation 206
Relating to the Competition 213
Predicting the Result 213
16 A Winning Listing Presentation 215
Qualifying Sellers 216
Listing Presentations 217
Listen to Your Clients 221
Allow for Rejection 223
Part 5 The Parts of the Transaction 225
17 Representing the Seller 227
Professional Staging 228
Evaluating Property Problems 228
Listing on the MLS 230
Hosting the Broker's Open House 230
Holding the Open House for the Public 231
Responding to the Offer 235
Handling Multiple Offers 236
Facilitating the Transaction to Closing 237
Dealing with a Stale Listing 238
Reporting to Your Clients 239
18 Representing the Buyer 241
Qualifying the Buyer 242
Presenting to the Buyer 243
Touring Buyers 245
Reporting to Your Client 246
Preparing the Offer 246
Offer Presentation 247
The Transaction Timeline and Steps 247
Dealing with All-Important Contingencies 252
Closing 254
Acting as a Deal Agent 256
19 Using the Transaction Documents 257
The Primary Documents 258
The Listing Agreement 258
Agency Disclosures 260
The Purchase Agreement 262
Seller Disclosures 266
Agent Inspection and Disclosures 267
The Settlement Statement 268
Part 6 Becoming a Top Dog 269
20 Cutting-Edge Top Dogs 271
The Top Dog's Motivation 272
Destination Websites 272
E-Mail Productivity and Professionalism 278
Specialized Training and Professional Designations 279
21 Giving and Getting Support 283
The Top Dog Plan 284
Hiring a Business Coach 284
Monitoring Personal and Professional Power 285
Obtaining Technology Support 287
Administrative Assistance 289
Obtaining Virtual Assistance 295
Virtual Assistance Versus Live Assistance 296
Receiving Spiritual Support 297
Giving Support Through Mentorship 298
22 Staging Your Listings 299
The Stage for Home Staging 299
Staging Is a Sensitive Subject 300
Convincing Clients to Stage 301
What Is Staging? 302
Staging Is an Investment 306
23 Future Income Streams 309
Creating Future Income Streams 310
The Rich Dad Books 310
Investing in Real Estate Continually 311
Take Commissions as Equity Interests 311
Facilitating Stock Market Transition 313
Selling Your Business 317
Glossary 323
Index 329
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