Updated: Jan 28
We made it through the pandemic which has forced everyone to get in line with digital marketing, social media, and all things on the Internet. It is currently still a sellers’ market and rates are remaining at all-time lows exciting buyers. Homebuilders have sold through so much inventory through the end of 2020 that it is going to be a tight year for some of them because low inventory means buyers must build. Building new homes from scratch may become less attractive to homebuyers this year because build times are extending out further with issues like lumber delays, brick delays, and other materials for building and design. This may benefit agents since some buyers may not have time to wait for new construction and hire an agent to purchase a resale.
Now could be one of the best times to start working as a real estate agent if you have the time and the startup cash. Assuming you have your license, I would recommend at least 6 month of savings for all your personal expenses in addition to marketing and branding dollars. Advertising dollars spent on social media platforms are still undervalued for where they should be which is fantastic because so many real estate agents are not taking advantage of all the platforms that they should be and if they don't act soon they're going to miss the train. For example, my first test sponsored add of 2020 (which is a photo from my mobile phone with text) cost me $20, is still running and has reached almost 600 people with almost 30 engagement. Test ads with small dollars before you really spend and scale what works with your cost per engagement.
It is a lot of work to manage multiple social media platforms, so a lot of agents seem to primarily focus on maybe one or two platforms, but even with the one or maybe even three that they are using; Most of agents are not giving it the attention that it needs for long term growth because it's easy to list a house right now and have it sold in a couple days, but that won’t last. Personally, I think this is a great time to start a real estate business in 2021 and that is exactly what I'm doing coming straight out of luxury new home sales. Before you go sign up for your real estate classes you really need to make sure you learn how to generate leads and one of the easiest places to do this is Facebook.
As soon as you get your license there is going to be an annoyingly large amount of ads flooding your social platforms, email, and text messages to get your money for lead generation, so make sure you know how to do this on your own and have a plan to hire marketing people to help you grow your business.
Three things to know before you get your real estate license in 2021.
1 - Learn what your personal brand is and plan strategically. This is going to be the norm moving forward sooner than you think. Start now because personal brand follow you when you leave an employer.
2 - Learn how to market on the big 7 social media platforms because they are not the same and you need to adjust your content for the platform you're posing it on. Start with Facebook if you are new to marketing on social media. There is tons of free information all over the Internet on how to do this. GaryVee beats this to death and has more content than you can watch to show you how to do this for free just like this blog you are reading.
3 - Be prepared to put your face and your name out there on lots of creative with good content and remember that it all goes down in the DM. Create your foundation, pump out good content that is easily consumable, and then interact with everyone who is interacting with you. Rinse and repeat.