Gen Z: Want A Real Estate Career? Here’s what you need.

GEN Z BECOMING A REAL ESTATE AGENT Guide

Gen Z Starting a Real Estate Business? Here’s Your Blueprint for Success

So, you’re diving into the world of real estate in your early twenties—exciting times ahead! But where do you start amidst the chaos of marketing plans, business strategies, and study sessions? Crafting a robust marketing and business plan is paramount for your triumph. In this comprehensive guide, I have compiled some great tips and insights to help kickstart your real estate venture.

Sandy Hibbard Creative, a woman-owned, full-service agency with over two decades of experience, stands ready to assist you on your journey. For queries or guidance, don’t hesitate to reach out to Sandy at sandy@sandyhibbardcreative.com.

1 – LAYING THE FOUNDATION FOR SUCCESS

To pave your path in real estate, you’ll need more than just ambition. Here’s a roadmap to get you started:

1 – Education and Licensing: Nail down the basics by fulfilling educational prerequisites and obtaining your real estate license. This entails completing state-specific pre-licensing courses and acing the licensing exam. You will first need to select your broker, more about that in section 3.

2 – Continuing Education: Stay ahead of the curve by staying on top of industry trends through ongoing education. Many states mandate periodic continuing education for license renewal.

3 – Forge connections within the real estate sphere and related industries. A robust network can open doors to clients, mentorship opportunities, and career growth.

4 – Tech Savvy: Leverage your digital prowess to your advantage. Familiarity with real estate software, online marketing platforms, and social media will give you an edge in the market.

5 – Financial Acumen: Mastering financial management is non-negotiable. From budgeting to transactional nuances, a solid grasp of financial concepts is indispensable.

6 – Communication Skills: Sharpen your communication toolkit. Effective written and verbal communication, coupled with active listening, is key to navigating client interactions and negotiations.

7 – Marketing and Branding: Cultivate your personal brand to stand out amidst the competition. Harness your digital finesse to craft compelling online profiles and marketing materials. Reach out to Sandy Hibbard Creative for more marketing help.

8 – Resilience: Brace yourself for the unpredictable terrain of real estate. Adaptability and resilience will see you through the highs and lows of the industry.

By ticking off these boxes and honing your skills, you’ll set yourself up for a flourishing career in real estate.

2 – CRAFTING YOUR MARKETING ARSENAL

As Generation Z infiltrates the workforce, real estate marketing strategies are evolving. Here’s a glimpse into the marketing tactics you will need to master:

1 – Social Media: Harness the power of platforms like Instagram, TikTok, and Snapchat to showcase properties and connect with clients. Master the realm of social ads on Facebook, Instagram and YouTube.

2 – Video: Engage younger audiences with snappy property tours and informative video content.

3 – Personal Branding: Build your online persona through a professional website, active social media presence, and value-packed content.

4 – Influencer Collabs: Expand your reach by teaming up with local influencers or micro-influencers.

5 – Email Marketing: Don’t overlook the potency of targeted email campaigns in reaching specific demographics.

6 – Community Engagement: Establish credibility by actively participating in local events and initiatives.

Mastering this blend of digital prowess and authentic communication is the key to resonating with your audience.

3 – FINDING YOUR BROKERAGE FIT

When it comes to selecting a brokerage, compatibility is key. Here are some brokerages that resonate with younger agents:

1. Compass: Compass is known for its modern approach to real estate and its emphasis on technology and innovation. The company offers a range of tools and resources designed to support agents, including a proprietary platform for managing listings and transactions.

2. Redfin: Redfin is a technology-powered real estate brokerage that offers a range of online tools and services for buyers and sellers. The company employs salaried agents who receive benefits and bonuses based on customer satisfaction, making it an attractive option for younger agents seeking stability and support.

3. Keller Williams Realty: Keller Williams is one of the largest real estate franchises in the United States and is known for its agent-centric culture. The company offers extensive training and coaching programs, as well as opportunities for career advancement and leadership development.

4. eXp Realty: eXp Realty is a cloud-based real estate brokerage that provides agents with access to virtual tools and resources. The company offers revenue-sharing opportunities and a collaborative online environment, making it popular among tech-savvy agents, including younger professionals.

5. CENTURY 21: The Dallas Morning News has named CENTURY21 Judge Fite Company as one of the Top 100 Places to Work 2023 – CENTURY 21 Judge Fite Company is known for their agent training and education programs. A great place to get started!

6. The Agency: The Agency is a luxury real estate brokerage known for its high-profile listings and celebrity clientele. The company has a modern and stylish brand image, which may appeal to younger agents looking to work in the luxury market.

Consider factors like culture, training programs, and technology offerings to find your ideal match.

4 – STRIKING A BALANCE

Balancing work and personal life is a tightrope act for real estate agents. Here’s how to maintain equilibrium:

1. Set Boundaries: Establish clear boundaries between work and personal time. This might involve setting specific hours for work-related tasks and committing to unplugging from work during designated personal time.

2. Prioritize Tasks: Identify the most important tasks and responsibilities each day and prioritize them accordingly. This can help ensure that essential work gets done without sacrificing personal time.

3. Utilize Technology: Take advantage of technology tools and apps that can streamline workflows and automate repetitive tasks. This can help save time and make it easier to manage work responsibilities more efficiently.

4. Delegate When Possible: Delegate tasks or outsource certain responsibilities when feasible. For example, hiring an assistant to handle administrative tasks or partnering with other agents on certain transactions can help lighten the workload and free up time for personal activities.

5. Schedule Downtime: Schedule regular breaks and downtime throughout the day to rest and recharge. This might include short breaks between tasks, a longer lunch break, or designated time for exercise or relaxation.

6. Practice Time Management: Develop effective time management skills to make the most of available time. This might involve using time-blocking techniques, setting deadlines for tasks, and avoiding multitasking.

7. Communicate with Clients: Set clear expectations with clients regarding availability and response times. Communicate any planned time off in advance and provide alternative contacts or arrangements for urgent matters.

8. Take Care of Yourself: Prioritize self-care activities such as exercise, healthy eating, and getting enough sleep. Taking care of physical and mental well-being is essential for maintaining energy levels and managing stress.

9. Establish a Support System: Build a support network of family, friends, and colleagues who can provide encouragement, advice, and assistance when needed. Having a strong support system can help navigate the challenges of balancing work and personal life.

10. Learn to Say No: Be selective about taking on additional commitments or responsibilities outside of work. Learning to say no to non-essential tasks or activities can help prevent burnout and ensure that personal time is protected.

Implementing these strategies will help you thrive both personally and professionally.

5 – SAFEGUARDING YOUR SUCCESS

Protecting your income and business in the ever-evolving real estate landscape requires foresight. Here’s how:

1. Be Ready for Potential Changes in Commission Structures: Changes to the traditional commission structures in real estate transactions is a real possibility. Be ready for more transparency in commission rates, increased competition, and/or alternative models for compensating agents.

2. Diversification of Income Streams: Real estate agents can safeguard their career earnings by diversifying their income streams beyond just commissions from property sales. This might include offering additional services such as property management, real estate investment consulting, or educational workshops.

3. Building Long-Term Relationships: Focus on building long-term relationships with clients and providing exceptional service to earn referrals and repeat business. This can help generate a steady stream of income over time and reduce reliance on one-time transactions.

4. Continuing Education and Skill Development: Stay informed about industry trends, regulations, and best practices by investing in continuing education and skill development. This can help agents adapt to changes in the market and remain competitive in their field.

5. Embracing Technology: Embrace technology tools and platforms that can streamline processes, improve efficiency, and enhance the client experience. This can help real estate agents stay ahead of the curve and provide added value to clients.

6. Creating Multiple Revenue Streams: Explore opportunities to generate passive income or create multiple revenue streams outside of traditional real estate transactions. This might include investing in rental properties, flipping homes, or participating in real estate crowdfunding platforms.

7. Financial Planning and Budgeting: Practice sound financial planning and budgeting to manage income effectively and save for the future. This includes setting aside funds for taxes, retirement savings, emergency expenses, and other financial goals.

8. Protecting Against Legal Risks: Consult with legal professionals and insurance providers to understand potential risks and liabilities associated with the real estate profession. Take appropriate measures to protect against lawsuits, claims, or other legal issues that could impact career earnings.

By diversifying income streams, fostering long-term relationships, and staying financially savvy, you’ll safeguard your career earnings amidst industry fluctuations.

Armed with these insights, you’re poised to navigate the labyrinth of real estate with confidence and finesse.

Welcome to the exciting world of real estate entrepreneurship!

Sandy Hibbard is the host of the INSIDERS On Real Estate and Marketing video podcast and owner of Sandy Hibbard Creative. Sandy has been working with companies and real estate professionals for over 20 years. Her team will help build your business through targeted content and digital marketing. If you are thinking about starting a new career in real estate, or you need to boost your existing business, contact Sandy!