As a Realtor, you have the potential to earn six figures or more annually. But the commission-based payment structure can be a bit difficult, particularly for real estate agents who are just getting started. Many find it challenging to earn lump sums in place of regular weekly payments. So in today’s article from Southern Connecticut Coldwell Banker Realtor Judy Szablak and founder of Szablak Consulting, we’ll explore a few financial tips for Realtors.
Tips for Realtors Who Are Just Getting Started
If possible, you should have enough money to last for a total of six months when you get started as a Realtor. This will give you the financial stability and the flexibility you need to succeed in your new real estate career.
Due to the commission-based payment structure that Realtors typically work with, many new real estate agents will work part-time in the beginning so they have another regular source of income. The only downside to this is that this can make it challenging to gain momentum since you’re only partially invested in your new career.
Financial Tips for Realtors – Money Burning a Hole in Your Pocket?
Receiving a large sum of money in a commission check can leave you feeling a bit spend-happy. But it’s important to use caution in this regard, as that lump sum will need to last for an unknown amount of time since you have no idea how long it will be before you receive your next commission check.
So use caution when you receive a large lump sum of money. Consider paying your utilities and other essentials a few months in advance so you’re covered. If you have credit cards, pay them down so you have that credit line available if the need arises.
Once you’re in good shape in terms of the essentials and any credit lines, start saving aggressively. You should aim to stock your emergency fund with enough money to cover your expenses for a minimum of six months.
Financial Tips for Realtors – Maximize Your Earning Potential
It’s crucial that real estate agents work to maximize their earning potential, especially for those who are just getting started in a new real estate career.
There are many ways for Realtors to maximize their earning potential. One approach involves working with both buyers and sellers. This essentially doubles your potential business.
You should also work to develop a specialty; an area where you are extremely knowledgeable, certified (if applicable) and can develop a reputation as one of the best for anyone seeking to buy or sell a particular type of property. Read this related article exploring how and why you should become a real estate specialist.
Marketing is essential for any real estate professional who’s ready to take their career to the next level. Use all of the marketing tools and opportunities that are at your disposal, such as social media marketing, landing pages, and technological options such as virtual home tours, virtual home staging and aerial drone videos.
Elevate Your Career With Szablak Consulting Founder and Realtor Judy Szablak
A career consultant like Judy Szablak can provide you with the insights and recommendations you need to succeed in today’s competitive real estate industry. A consultant will not only offer advice and recommendations, but she will also share her valuable knowledge and expertise on topics such as common misconceptions about working as a Realtor, to sales motivation tips and other tips to sell more homes!
Aspiring top producing real estate agents may also with consider reading Realtor Judy Szablak’s related article with advice to help you enjoy a long-lasting real estate career.
If you’re ready to take your career to the next level or are just starting out as a Realtor, turn to real estate professional and consultant Judy Szablak, founder and CEO of Szablak Consulting and Best Agents Online, LLC. With Judy’s guidance and expertise, you’ll take your career to incredible places, finding success that’s beyond what you believed to be possible!
Contact Realtor Judy Szablak of Szablak Consulting. Call 855.438.5839 or complete the booking form.