About Brenda Savage
Brenda Savage is a Real Estate Broker and Instructor licensed in the State of Arizona. She has been active in the real estate industry since 1988, and has been a Real Estate Instructor since 1999.
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A Career in real estate
Congratulations! You are considering a career change, and feel that residential real estate sales may be right for you! Here, I'll give you some "real life real estate" insight, advice, and direction should you choose to pursue this new career goal.
Also see Career options in real estate
I have been licensed in real estate since 1987, beginning my career in Buffalo, New York. At that time, interest rates hovered at around 14%, the economy was in a rather severe decline, and far more people were leaving the Buffalo area than were moving into it. It was a daunting (and perhaps foolhardy) career change for me at the time. I was a single Mom of a 7 year old son. I left a very good job with a nice regular paycheck and good benefits, and threw myself into real estate. The first three years were very, very difficult, even with being awarded the "Rookie of the Year" award for my office. Listings were fairly easy to come by, but getting someone to buy your listings was a difficult task, as there were not a lot of buyers in the market then. Add to that, that property values in that area were stable at best, certainly not appreciating, and in some cases, declining. Preparing to consult with a potential seller usually involved rehearsing a tactful and diplomatic discussion regarding how much they might have to come "out of pocket" to close the sale of their property.
Wisely, I moved to beautiful Arizona in 1992, and obtained my Arizona real estate license. Thankfully, Arizona provided a market on the upswing just as I was getting started here; however, starting over in a new state is also somewhat daunting. The real estate transaction process in Arizona was (and is) completely different than in New York State and I needed a steady paycheck. So, I decided to go to work as an Assistant to a "Top Producer". This was an excellent educational experience for me, however, the first bit of education I absorbed in being an Assistant was: make sure that the agent can afford to pay you. Yes, some agents hire Assistants, and cannot afford to pay them. Sadly, the Assistant doesn't usually find this out until they have spent time and energy working in good faith for the agent. Once I did find a truly productive, steady, top producing agent to work for, my education really began! When brand new to real estate (or brand new in a different state with different processes), I highly recommend a Mentor or experienced partner to perhaps share a few commissions with to show you exactly what needs to be done, and when. Hands on experience is the best way to learn, but in order to insure excellent client representation, until you truly know what you are doing, get help!
When I was ready, I then ventured out on my own. Starting a career in real estate is the same as starting your own business, not only do you need to know the business; you need to know how to market and run the business. This is why choosing the company that you will be working with is, perhaps, the most important decision you will make as you begin your career. Changing brokerages will always cost you business, no matter how diligent you might be in keeping in touch with your sphere of influence and past clients. The brokerage that you choose should be able to provide you with state of the art technology, procedures, marketing materials, and education to help you not just start your business, but to grow it for years to come. Try to find a brokerage that caters to all levels of production and experience, so that once you have established yourself and are ready to grow your business to the next level; your current company will be there with a plan that works for you. Even when you are reaching the highest levels of income and production, your company should have resources and commission agreements that will work for you down the road.
After going on my own as an agent, I then became involved in volunteering for our local Association of REALTORS® (Scottsdale Area Association of REALTORS®), as well as the Arizona Association of REALTORS® while continuing to grow my business. Volunteering for these Associations did take time and commitment, but again, provided an amazing education, introduced me to the most knowledgeable people in the industry, and ultimately led me to teaching, while I remained a successful real estate agent. I have been a real estate instructor since 1999 and a real estate Broker since 2000, including many years as a Managing Broker for Century 21, Prudential, and Coldwell Banker offices.
I give you my background, because I have seen many people do exactly the same thing. jump headlong into what they hope will be a new career, and unfortunately many fall sadly out of the business within a few months, usually with a lighter wallet. Unlike some others in the real estate education industry, I will tell you the truth about what it is really like to start (and grow and sustain) a productive and profitable career selling residential real estate. The truth is this, it is not easy. So many people come into residential real estate sales (especially during a booming market), believing that if "so and so" can do it, I certainly can, or that licensees make an enormous amount of money for almost no work, or that "the market is so good that I can't go wrong". All of these are incorrect assumptions. Residential real estate sales as a career, no matter the market, takes dedication, a lot of work, a very good understanding of real estate law, contract law, property values, knowing how to work with people and understand personality types; and how to build and manage a business. Choosing the right partners in your new venture will make your career goals attainable. Getting the best education possible throughout your career will make you successful, in one of the most rewarding, frustrating, interesting, uncertain businesses in America. And although it is not easy, It is, in fact, a rewarding way to help build the American Dream, for others and for yourself!
Also see Career options in real estate