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5 Challenges of Becoming a Real Estate Agent and How to Plan for Them

If your idea of the real estate industry comes from watching shows on HGTV than you may need to look deeper before committing to real estate as a career.  Although negotiations, social interactions and appearances are in fact part of the job, real estate is much more than this.

  1. Money

85% of agents run out of money their first year.  This is because they did not do a thorough evaluation of their finances prior to starting their new business.  They did not create a sufficient “nest egg” or savings to cover life expenses while their business grows.  Running out of money for basic living needs will kill your dreams of creating a career in real estate.

Remember to also have some money set aside for expenses like MLS strategies, marketing tools and ongoing education.  

  1. Unrealistic Expectations

When you get your real estate license, you are signing up to become a business owner.  Having your own business means you have more earning...

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Let's Talk Business: What are the Key Traits of a Successful Real Estate Agent?

“Do I have what it takes to become a successful real estate agent?” That is an excellent question to explore before you invest time and money into your new career. Here are the key traits of every successful Real Estate professional, do you have what it takes?

You need to be a people person

Real estate is not about selling or buying houses, it’s all about building relationships. People do business with people they know, like and trust. Nobody cares what you know until they know that you care. 

Exercise patience

You must be able to be patient when working with clients and other agents. Some of your clients will take a long time to make a decision. You will need to help them through the process from the beginning to the end, regardless of how long it takes.

Maintain a positive attitude

There will be slow months, times when you lose a sale, a contract falls apart, you lose a buyer or a listing and/or you fall short of your goals. You will...

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5 Characteristics of a Good Sponsoring Broker - You Should Look For!

by Sydney Roy, Marketing Advisor @ManfredSchool

As a new Real Estate Salesperson, you will need to work under a “sponsoring broker.” The brokerage you choose to align yourself with will be the foundation of your new business, providing you with ongoing mentor-ship and the backing of it’s excellent community reputation. Here are 5 key characteristics of a good sponsoring broker, you should look for:

1. Commission Split Commission split percentages differ from broker to broker. Although this is important, remember not to base your entire decision off commission split. There are many other factors to consider. That being said, commission splits affect earning potential, making it an important factor. Make sure to be aware of what commission you should expect from your real estate sales.

2. Mentor-ship and Support As a new agent running their own business, you will need support and mentor-ship. Some brokerages have training and education programs that can...

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How Much Do Real Estate Agents Make in New York State?

How Much Does the Average Real Estate Salesperson Make in New York State?

According to careerexplorer.com, the average salary for a real estate agent in New York State is around $116,460 per year.  Obtaining your real estate license is quite quick and easy.  However, having a real estate license does not guarantee a high income.  As a salesperson, you are essentially starting your own business.  Whether you make above or below the average salary will be entirely up to you.

Earning Potential is Directly Proportional to Dedication

Having your own business has some distinct advantages like making your own schedule and not having to answer to a “boss.”  Getting into real estate means you do not have to be at an office or at a desk from 9-5.  It also means that you do not have a set salary or hourly wage.  What you earn is directly proportional to the amount of work you put in.  “Work” in the real estate industry means...

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NYS Real Estate State Exams are Back

State Exams are Back!  What Does this Mean for Our Students and How Do We Plan to Help you PASS?

Corona-virus Halted State Exams

The Manfred School is honored to be an institution relied upon by many prospective real estate salespeople across New York State.  We felt an enormous responsibility to continue to bring educational opportunities to our community especially during the challenging recent months.  During hard times, it is important to hold onto our dreams and goals. We quickly responded to safety concerns and guidelines by restructuring our licensing and continuing education courses into webinars.  We were there to answer questions and guide our students.  However, there was one important factor that was out of our control. The Department of State halted testing and we did not know when it would resume.  After following up with phone calls and emails on a weekly basis, we are happy to announce that they have decided to continue...

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