Lincoln First Realty was formed in November of 2007 and is a wholly owned subsidiary of Cornhusker Bank of Lincoln, NE. Lincoln First Realty is a full service professional real estate company that offers an array of services ranging from the representation of sellers and buyers in a real estate transaction as well as pricing opinions and marketing strategies that will assist clients in making the right decisions. The company mission statement stresses the simple premise that the customer comes first and that our actions as professional Realtors should always reflect that philosophy.
If you're a relationship driven type of individual that likes the idea of controlling your own destiny, then a career in real estate sales is one you should consider. An appealing aspect of real estate sales is that you're compensated based on what you produce and there is no ceiling on the amount of income that you can make. A sales career does require self discipline and the ability to effectively manage your own time, so it's very important that you analyze your own strengths and weaknesses before making a decision to engage in real estate sales.
As a point of clarification, even though you're an independent contractor when working in real estate sales, you will be required to affiliate with a real estate brokerage when you activate your license. This relationship is an important one because the support you get in the areas of training, marketing, brokerage management, and technical support can and will make a difference in how long it will take you to make progress and become a consistent producer. It would definitely be a good idea to interview with more than one real estate firm before deciding where you will affiliate, which will give you the chance to compare and ask questions regarding the support you will receive and the costs you will incur at each company before finalizing your decision.
Keeping in mind that as a licensed real estate agent you're an independent contractor, the attributes needed to be successful all center around having the skill set to run your own business. Such things as having a great work ethic, being disciplined in getting things done, attention to detail, excellent communication skills, and having definitive written goals are good examples of attributes that matter when analyzing if you have what it takes to be successful in real estate sales.
Controlling your own destiny and having no limit placed on the amount of income you can make is appealing to most people. In addition, having a flexible work schedule can allow you to tend to other responsibilities without damaging your income earning potential. Above all, many people find being financially rewarded for what they actually achieve is the best incentive one could ask for.
The first step to becoming a licensed real estate agent is to enroll for the required real estate classes that can be taken online or in a class room setting at various schools that specialize in real estate education. You must successfully complete 60 hours of mandatory classes required by the Nebraska Real Estate Commission before sitting for the exam. After successfully passing the exam, your license can then be sent to the real estate broker that you have made arrangements to be affiliated with.
You will incur various costs associated with taking the required preparatory classes, the application for taking the license exam, license transfer and insurance, membership to the Lincoln Board of Realtors and the National Association of Realtors. In addition, you will have miscellaneous costs typical of getting started in any self-employed business. The following costs should be expected when becoming a licensed Realtor:
Dependent on what your personal goals are should dictate the type of company you want to affiliate with. If you're career oriented and intend to do whatever necessary to be successful, then you should look for a company that will support your efforts and accelerate your learning process. A smaller company, such as Lincoln First Realty, can offer the attention, training, and supervision that new licensees need in order to make rapid progress. While an aggressive and fair compensation plan is important it probably is not the number one reason to affiliate with a particular company. In the early going of your career, support and training are critical factors that will determine the level of success you will ultimately have.
Knowledge is the variable that gives the new licensee the confidence to compete for business against those that have much more experience in the business, so it can't be overstated how important it is to be thoroughly trained on the many aspects of real estate sales. A comprehensive training program should not only cover contracts, agreements, disclosures, and MLS rules & policies, but salesmanship tactics as well. Make sure you ask detailed questions about the training program that is offered by each company you interview with and pay attention to the scope of training that is offered to make sure that you will receive the comprehensive training that you deserve.
The first year in the business is typically a slow growth period because you're immersed in training and building your network of key contacts and centers of influence. For some the transition can be rapid depending on the network of contacts they already have established and the level of confidence they have in converting what they have learned into an action plan. Incomes can range from near zero to $40,000 or more in the first 12 months, but it is in the second year of licensure that you hard work, networking, and training will accelerate your income earning potential.
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