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I often hear from people who are thinking about getting into the business. I also hear from people who want the inside scoop on what exactly it is we do all day. These two thoughts typically go hand in hand.
The short answer is no two days are the same. In fact, it’s rare that two hours are the same! This is one of the things I enjoy most about this business.
Some might say, based on the current market activity, that now is not a good time to get into real estate. And generally, not all real estate agents are equipped to handle when the market balances out. But, more so than the market conditions, your success in real estate is based on how hard you work for it.
I started Nyrose & Associates in 2008. The market was not good here in Kelowna. I was brand new to the city and didn’t have a built-in network of friends and family to keep me busy while we waited for the market to rebound. In fact, I had to build my client base from the ground up. I had to make friends and connections. I had to prove myself. Looking back, this was a blessing in disguise as I had to work hard to build the business and I couldn’t take anything for granted.
So What Does A Typical Day Look Like For A REALTOR®?
One of the things I love most about working in real estate is that no two days ever look the same. Primarily, my days include:
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Staying Up-To-Date on Industry & Market News
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Business Management
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Marketing & Lead Generation
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Managing my team REALTOR®S
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Communicating with current clients
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Checking up on past clients
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Submitting offers / negotiating
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Buyer & seller presentations
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Preparing comparative market analysis
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Meetings
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Answering emails and text messages
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Communicating with vendors
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Networking with Potential Clients & Other REALTOR®s
The hours are irregular - If you like a Monday to Friday 9 a.m. to 5 p.m. type of job, being a REALTOR® won’t work for you. Afterall, generally, your buyers and sellers are working 9-5 jobs which means they’re in contact and wanting to meet and view homes outside of typical business hours. I am often working evenings and weekends. It’s part of the job!
The pay is irregular - You will do a lot of upfront work, and spend a lot of upfront time before you are ever paid a commission. Yes, there is potential to make a good living as a REALTOR®; however, with that comes a lot of hard work. You also have to be able to withstand the waves of the market and your own business. You won’t receive a regular paycheque.
You will be working with people - The better you are able to connect with people, be personable, network and make conversation, the more likely you will be to succeed. For some, an outgoing personality comes naturally. For others, the fine art of conversation is a learned skill.
You will have paperwork - You’ll have to complete, submit and file contracts and real estate documents for every purchase and sale. You have to coordinate listing appointments and showings. In addition, you may need to develop marketing budgets and plans, maintain and manage client databases, respond to emails and phone calls, and update your website and social media.
Because these administrative duties can be quite time-consuming, some real estate agents hire an assistant so they can better leverage their skills to build their business.
You need to be knowledgeable and retain information - A good real estate agent knows the current market activity, real estate statistics, what changes might be coming to the industry, and the important details about a neighbourhood. General knowledge on home maintenance, mortgages and financing, moving, real estate law and home inspections also comes in very handy.
This career might not be for everyone, but I love it. I enjoy the movement of my days, the challenges and communicating with clients and others in the business. If you are thinking about getting into the business, give me a call. I’d love to chat.
Likewise, if you are a REALTOR® and facing challenges building your business I welcome the opportunity to talk. Mentoring others in the business is a big part of my days, and something I really love.
And, for those buyers and sellers thinking about making a real estate move, if you have questions about buying or selling in Kelowna, give me a call. I’d love to chat with you about why winter is actually a great time to buy or sell real estate.
Questions? You can call or text me at 250-575-1946, email darcy@kelownarealestatepros.com or visit the Nyrose & Associate website at https://www.kelownarealestatepros.com
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