In this episode we will look at all the different niches of the real estate industry an agent can participate in. You will never have to worry about getting bored.
In this episode we talk about why choosing your first real estate brokerage company to work with needs to be a good choice and a proper fit for you.
Careers in Real Estate - Your Five Minute Monday explores the many areas in the real estate industry to participate in and if it is the right career for you. I delve deep into the dozens of niche’s and specialty areas that many people never new existed. I also bring listeners up to date with the most relevant real estate market news and trends to be sure that new real estate professionals clearly understand how and why we work in our industry. Each episode is time sensitive to the market at that moment.
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We are also airing every Monday morning at 7 am on WWPR Talk Radio, Tampa Bay's 1490 AM
Why you will never be bored of being a real estate agent
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Did you ever wonder if you might get bored being a real estate agent, let me tell you why that will never happen.
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Over the years I’ve had many people ask me, what if I get bored selling houses? Well the answer is very simple, real estate is not all about just selling houses.
That’s just one of the dozens of niches we have in our industry. In Florida, there are many many things you can do with this one particular license.
General real estate, (helping people buy and sell houses), might be the best place to start. The reason for this is because you’re gonna get the best basic core training in residential real estate.
When you join one of the larger franchise companies, there’s usually going to be a 3 to 4 week training program to get you started in the industry.
That training could be transferred to many different types of things we do in real estate. For instance, if you plan on getting involved in commercial real estate as soon as you could, you’ll find that by having that basic training in residential, it will just be a matter of bringing you up to speed on a few new contracts and disclosures and you can segue into commercial very easily.
I often recommend that if your goal is to get into commercial or maybe even property management, You will want to join a large company that has a commercial division or a property management division. That way you could stay with a company that you’re already imbedded with at that point, rather than having to leave that company and start from scratch with a new company. Which from our previous episode you’ll understand that is not a good thing to do.
To try to start your first day in commercial for instants would usually be a big mistake. I cannot mention even one commercial company out there that has an initial training program for a brand new licensee. They kind of expect you to get started in residential, get that core basic training and then transition into commercial later.
The list of different specialty areas to get involved with go on and on. Here in Florida you’ll have Timeshare, Property Management, commercial leasing, new home sales with builders and many others.
Once again there will never be a reason to get bored in our industry. If you start feeling a little stagnated, you can switch to another niche or specialty area and continue on there. It’ll feel like a fresh brand new job without actually having to leave your old job.
Just like sticking with one company for a while, you also don’t wanna jump around from Niche to Niche too soon either. Make sure you give every niche of the industry that you’re in a fair chance before you determine that it’s not right for you.
You don’t want to be like a kid in a candy store just grabbing hold of every next thing that looks better for you. that is never the right thing to do
Over the years, I too have tried many different niches of the real estate industry. For different reasons. Sometimes an opportunity just gets dropped in your lap, and you feel that you really need to take it vantage of that.
Other times it just feels like the market has shifted and you need to transition with it, doing something a little different. Maybe when interest rates are a little higher in residential, and seems to be more of a challenge for many people you could easily get involved in commercial leasing or another niche, that doesn’t necessarily require good interest rates.
Sometimes areas of our industry that get overlooked because you might not be thinking of them, as vacant land which is a very popular niche especially here in Florida, pre-manufactured homes as well, not mobile homes, but prefab. Or even selling farms. We live in primarily ac Cattle and citrus industry here in Central Florida and that’s a popular niche as well.
You will find that helping people buy and sell businesses which is another strong niche, can also be very lucrative and very demanding here in Central Florida. Helping people buy and sell businesses has evolved into something a little different than what you might expect.
We are actually network closely with immigration attorneys. Where people from many countries Can invest here in the US by purchasing a business of a certain nature, size, and price, and bring the whole family here on a much quicker path to permanent residency and then eventually citizenship as well.
It’s just a much better process than the old ways of coming to this country using outdated methods. So we work very closer with immigration attorneys who have the potential to supply us buyers just as we will have the potential to supply them immigration candidates. We work very closely and that is a very solid lucrative niche all by itself.
If you listen to some of my earlier episodes of Careers In Real Estate, I touched upon many different specialty areas to get involved with and more detail about each.
And that is your five minute Monday.
Have a great day