After getting your real estate license you have a number of options to consider.  Most will tend to seek residential real estate sales as a career path and it can be very rewarding.

What are other options?  For those that like administrative work and want to learn the business while getting paid, a transaction coordinator may be one way to go.  As a transaction coordinator you'll learn the ropes of the business including real estate contracts, escrows, client service among other things and it can be a huge boost of confidence before making the plunge into sales.

Some companies recruit heavily for timeshare.  This also can be very lucrative and it tends to come with an initial base salary with prospects / leads generated for you.  If you feel like you enjoy closing people for the sale, timeshare sales might be an avenue for you.

Property management is a great role for those that need steady work and don't mind process oriented job functions.  Usually sales isn't required and you maintain properties as well as screen tenants as your primary job function.  Many have made exceptional careers along this path.

Commercial is an entirely different world where you work with selling buildings, businesses, hotels or lease business space.  The real estate community tends to be separate from residential and they have a culture all their own.  The industry has produced some mega producers and can be extremely lucrative.

No matter what you are looking for, having a real estate license opens up a lot of possibilities.  Find out what it takes by click on the button below and get an free real estate exam emailed to you.  You might surprise yourself!

The first thing any new agent should do is come up with a list of people you know.  The term commonly used in the business is your Sphere of Influence, or SOI.

Agents usually start off with family members and friends.  A SOI can also consist of anyone that you have contact with on a daily, weekly, monthly or even yearly basis.  People like your hair stylist, dry cleaner, auto mechanic and dentist are just a few.

Throughout your real estate career, you should always find ways to grow your SOI. This will become a huge source of repeat and referral business over time.  And as you know referrals are the best kinds of business.

Putting together a list can be hard work.  But just remember doing it upfront gives you the best chance at success.  You will realize that you probably have more people in your sphere than you thought.  Using a Contact Relations Management System or CRM can help you categorize the people you know, which in turn will make filtering buyers, sellers, investors and renters easier.

Once you have come up with your list do mailers to them letting them know you are in the business. Usually one can do a fancy mail out but with the internet coming up with a fancy email is faster and much more cost effective.

As you progress in your business it would be a great idea to categorize your sphere.  Break them down into groups that can help you figure out which are the ones that need or attention now.  That way you focus on the people that want to do something sooner than later.

Setting up automated emails to your sphere helps you to be always on their mind.  That way if someone is interested in buying or seller they think of you first.

If you are not adding to your sphere constantly you are not growing.  Remember, real estate is a numbers game.  The more people you can talk to the better chance you have of doing deals.

While many people talk about the glitz and glamour of real estate, joining the company of your choice once you past your State Exam can be cumbersome and shocking if you do not know what to do along with knowing what your start up costs will be.

Once you overcome the joy of passing your State Exam its time to find a company to hang your license.  Just remember you must apply for a license within 2 years of passing the examination.  If not, you will be an unsuccessful candidate and be required to retake the examination.

Finding that right company that works for you may take some time.  Here are a few questions you may want to ask.

1. Do you have training for agents that are new?  If so what does it include?
2. What types of systems do you have to help me become successful?
3. Are there any fees I have to pay once I join your company?

What you will find is there are many companies out there and not all will fit your needs.

So you have finally found a company you like and decide to hang your license with them.  Here are some of the costs involved once you join.

Before you can practice real estate an application must be submitted to DCCA for approval.  This can take anywhere from a week to a month.

DCCA license:

$255 if applying in an odd-numbered year

$185 if applying in an even-numbered year.

Any real estate company you join that is members of Hawaii Association of Realtors (HAR) and the Honolulu Board of Realtors (HBR), will require you to become a member.  There are two fees that come with this.

Membership fees to HBR

Multiple Listing Fee more commonly known as MLS

These fees can be upwards of $1000 depending on when you join.

If you want to get yourself up and running other things needed would be Business Cards, Open House Signs, For Sale Signs and Letterhead.  Some companies charge E & O Insurance upfront which may be a significant charge.

Plan on budgeting $1500 to $2500 for start up costs and remember if you are being paid by commission your first check may take 2 to 3 months so having reserves of 6 months is optimal.

While real estate can be lucrative it can also be a drain on time and money.  Make sure you have a path to success and you will be on your way!

A career in real estate can provide the flexibility and earning potential that many self-motivated people desire.  Taking the first steps in a real estate career are relatively easy:

1. Sign up for a pre-licensing class
2. Complete pre-licensing curriculum
   
3. Take the state license exam
   
4. Find a real estate brokerage with training and mentorship
   

Step 1 is easy and requires only a modest fee to enroll.  

Step 2 can be more challenging as it requires effective time management.  As with a career in real estate, you must be self-motivated to complete your studies.

Step 3 is heavily dependent on how effectively step 2 was followed.  Regardless of your initial results, the saying "Try and try again" applies here.  You man retake your licensing exam multiple times until you achieve a passing grade.

Step 4 many times possess the greatest challenge.  Although it is easy to find a brokerage, it is less obvious how significant making the wrong choice will impact your career.  Unfortunately, many brokerages have resorted to enticing new licensees with high commission splits because it is easy.  In reality, the hope for quick commissions and the lack of training will result in significantly lower career earning.  It is critical to find a company that provides regular training, a team environment and technology that can propel you along your new career path.