In my 3+ decades as a Broker and Owner Broker, I have hired and trained over a hundred agents and managers. It is with that depth of experience and my own journey in this industry that I chose to write a lesson plan (I used to teach) of sorts to help the next generation power brokers get started in this business. So YouWantACareerInRealEstate.com gives you insight and know-how you can’t find anywhere else. It’s a tool to assist you find your high-water mark.
CHAPTER 1. Introduction:
Real Estate sales is one of those careers that looks so easy from the outside.
Take a listing; run a few ads; do some open houses; open the door; voila. Collect your check.
Well, if you ask any truly successful real estate professional if that’s how it goes… prepare to watch their eyes roll. Every time someone said that to me, I welcomed them to get their license (that’s the easy part) and join in on the fun! Did you know there’s an 87% drop out rate for new licensees within the first 5 years and 75% after just year ONE, per NAR.
To be truly successful, there’s a unique skill set required. It entails a tremendous work ethic, organizational skills, discipline, good communication skills, self-motivated, tenacity and resilience, just to mention a few. A degree in psych is also very helpful! Those that are truly successful long term (over a decade– in good & bad markets) need those qualities on steroids. If I haven’t scared you off yet, GOOD- you might be a candidate. YES… you’re ready. Let’s get started.
Preparation for this career requires you have a minimum of 6 months living expenses on reserve and another $10k to launch your marketing. After all, you’re an unknown entity in the real estate industry. You will need to make a business plan to help create interest and familiarity in YOU.
Knowing that you can do all the right things, working hard, spending money for six months or more and still not make money– here’s where that tenacity and resilience comes in– DON’T GIVE UP! If you’re starting your career in a lousy economic climate, while you may struggle longer, you will be learning long lasting skills. When I launched my career, interest rates were 18%– turned out to be a blessing in disguise.
There’s so much to learn… start with governmental regulations and the paperwork required of us.
CHAPTER 2. Launch:
Getting started is difficult for most. If you’re not fortunate to have a huge SOI (sphere of influence) or a generational grand network in place, you will need to build one. Building one shall include casting a wide net. Ours is a business where familiarity of the individuals is key. So how will you get the message out there? The message must include trust as well as knowledge and accessibility. After all, the purchase of a home, for most, is their most valuable asset. Real estate closings are on the charts of one of the most stressful life events… here’s where the degree in psych comes in.
More to come.
CHAPTER 3. Partner, Team, Fly Solo:
Like everything in life, these three options each have their pluses and minuses. In the end it will depend entirely on the individuals since partnerships fail more than they succeed. Examine everyone’s objective and go in with eyes wide open. Teams and Partners are different from mentorships. If a seasoned agent is willing to mentor or take a ‘newbie’ on, this is a great way to springboard into the business. In our region there is an aging out of some fabulous agents. Such human resource is invaluable for both parties. This is the type of business you can do well into your senior years; hell, the President is in his 80’s. Having the right newbie as boots on the ground enables the Senior Broker to be productive longer while the newbie gets lessons it would take many years to learn. The key to success here is again, the individuals PLUS a written agreement on expectations and financial arrangements.
More to come.
CHAPTER 4. Traction:
You survived your first year and your efforts are yielding fruit… in fact, you find you like that no 2 days are ever the same… it’s exciting! You don’t care that you’re working weekends and holidays and answering calls, texts, and emails at all hours of the day and night, your cell phone has become even more of an appendage. When you do find time to go out for lunch, dinner, drinks etc, it’s likely you’re with clients or colleagues. You pick up any leads for any aspect of the business… sometimes merely to learn. Please remember to create some balance, exercise, get outdoors, visit with family and friends too.
More to come.
CHAPTER 5. Do the Math:
You’ve heard of Commission Splits, sliding scales, franchise fees, IT expenses, AA expenses, Operating expenses etc. These greatly impact how the GCD (gross commission dollar) gets divided up. It’s not how much you make; it’s how much you keep– so do the math! Did I mention there are no benefits… you’re an Independent Contractor, so no health, no dental, no hospitalization, no pension, no retirement. It’s all on you to prepare for your well-being and secure your financial future.
More to come.
CHAPTER 6: Well Oiled Machine:
You’re beginning to believe you got this. It’s been a couple of years, and your business is growing.
SAVE YOUR MONEY! There will be lean years and banner years… live to your lean years and invest in your banner years. You never know when the market will turn… everything is cyclical so if you have prepared for all kinds of markets, you’re fine. Ride it out.
Bad markets remind me of a Warren Buffet quote, “Only when the tide goes out do you discover who’s been swimming naked”.
More to come.
CHAPTER 7: Put Your Money Where Your Mouth Is:
Now that you are a proven success it’s time to practice what you preach. Invest in real estate. While it can be very tricky for those of us who have no salary but earn commission based, personally, it’s the best thing I ever did. Even when the ’87 Crash happened and I owned 9 pieces of real estate– ALL ON MARGIN– boy that was a painful lesson. Fortunately, I was young (and obviously naive) … I thought the music would never stop. I was wrong. Lesson learned!
More to come.
CHAPTER 8: SURROUND YOURSELF WITH REAL PROS:
True professionals are worth their weight in GOLD. Do you have a great accountant? How about a sound business advisor? A sage, grounded mentor? Are you in a healthy office environment? Do you have access to experienced Brokers, Managers and Directors that are there to help you succeed?
More to come.
At William Raveis we have the richest resources and offer the uniquely personal opportunities that get lost in large conglomerates. We are widely respected for the character and integrity of our North Fork and Hamptons real estate brokers, agents, and staff. We have the most advanced technology for our ever changing markets with a solid Internet presence. Inquire about joining our team today.
Real Estate Salesperson
We are seeking motivated and results-driven Real Estate Agents to join our dynamic William Raveis team. As a Real Estate Salesperson, you will be responsible for guiding clients through the process of buying, selling, and renting properties in the Hamptons, across the North Fork, and on Shelter Island. Your expertise in the real estate market, combined with excellent interpersonal and negotiation skills, will help clients achieve their goals and make informed decisions. If you are passionate about real estate and thrive in a fast-paced, client-focused environment, this opportunity is perfect for you.
Responsibilities:
- Know the rules, regulations and documents required on a national, state and local level.
- Generate leads and build a client base through various channels.
- Conduct consultations to understand client needs and preferences.
- Provide comprehensive property information and market insights.
- Facilitate property showings, negotiations, and offer preparations.
- List and market properties to attract buyers or tenants.
- Coordinate open houses and property tours.
- Represent clients in negotiations and review legal documents.
- Stay updated on local market trends.
Qualifications:
- Valid real estate license in New York.
- Proven experience as a Real Estate Agent or similar sales role.
- Strong knowledge of the local real estate market.
- Excellent communication, negotiation, and interpersonal skills.
- Self-motivated, target-driven mindset.
- Attention to detail and organizational skills.
- Proficient in real estate software and CRM tools.
- Flexibility to work evenings, weekends, and holidays.
Join our team as a Real Estate Salesperson and help clients achieve their goals in a dynamic industry. Apply today by submitting your resume and cover letter to Judi Desiderio, JD(at)raveis(dotted)com.
Administrative Assistant
We are seeking a proactive and organized Administrative Assistant to join our dynamic real estate company in the Hamptons and North Fork. As the first point of contact for clients, visitors, and team members, you will play a crucial role in providing exceptional customer service and maintaining a professional and welcoming office environment. This position requires excellent communication skills, attention to detail, and the ability to handle multiple tasks with efficiency and poise.
Responsibilities:
- Greet and welcome visitors, clients, and vendors in a friendly and professional manner.
- Answer incoming calls, direct calls to the appropriate personnel, and take accurate messages when necessary.
- Provide general information and assistance to visitors and callers, ensuring a positive experience.
- Manage incoming and outgoing mail, packages, and deliveries.
- Maintain office supplies inventory and place orders as needed.
- Perform data entry, record-keeping, and file management tasks.
- Support the team with administrative duties as required.
- Organize and maintain physical and electronic files, ensuring proper labeling and storage.
- Preparation and distribution of contracts, agreements, and other legal documents.
- Monitor and maintain the cleanliness and tidiness of the reception area and common spaces.
- Contribute to creating a positive and inclusive office culture.
Qualifications:
- Excellent verbal and written communication skills.
- Strong organizational and time management abilities.
- Proficient in using office software (e.g., Microsoft Office Suite).
- Attention to detail and accuracy; ability to multi-task.
- Ability to multitask, prioritize, and work effectively under pressure.
- Professional demeanor, strong interpersonal skills, and a customer service-oriented mindset.
Join our team and contribute to the success of our real estate company by providing outstanding administrative support and delivering exceptional customer service. Apply today and embark on a rewarding career as a Front Desk Administrative Assistant.
Please submit your resume, along with a cover letter highlighting your relevant experience, to Kimberley Terry, Kimberely.Terry@raveis.com.