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Benefits of joining a Realtor® Association

We often get asked by our real estate students about Realtor® associations, what they are and what the benefits are of becoming a member. Hopefully this post will give you a solid understanding of Realtor® associations.

What are Realtor® Associations?

  • Realtor® Associations are trade organizations made up of licensed real estate professionals.
  • The National Association of Realtors® -This is the largest trade organization in America. The core purpose of the National Association of REALTORS® is to help its members become more profitable and successful.
  • Local and State Organizations - Aside from the national level association, there are also state and local organizations. For example there is a Utah Association of Realtors®. There are also local associations such as the Salt Lake Board of Realtors® or the Utah County Association of Realtors. Members are usually members of local, state and the national level.

 

What are the benefits to these associations?

  • One of the greatest benefits that the associations of Realtors® bring to real estate markets is that the members adhere to a strict code of ethics and standards of practice. This promotes honesty and integrity in real estate markets, protecting the public and other licensees.
  • Another huge benefit to these associations is access to Multiple Listing Services. Usually, in order to become a member of an MLS, agents must be a Realtor® or a member of a Realtor® Association. Agents will be able to list properties on the MLS for sellers, and have access to information about current listings and past listings for buyers.

 

What is the difference between a real estate agent and a Realtor®?

The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics.*

To put is simply, all Realtors® are real estate agents, but not all real estate agents are Realtors®. It is not a requirement to become a Realtor® if you are a real estate agent, but there are many benefits to becoming a Realtor®.

 

If you feel like you are ready to become a Utah real estate agent and perhaps a Realtor® feel free to enroll in our real estate school or contact us today with any questions! We are happy to help you get started in getting your real estate license!

 

*Source: http://www.realtor.org/realtororg.nsf/pages/AboutREALTORS

 

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Success in your first year as a Utah real estate agent is possible if you work your plan!

Congratulations!

You have finished your 120 hours of real estate education and you've submitted your paperwork to the Utah Division of Real Estate - you did it!

But now what? 

Well, first of all, understand that your new career is going to be exciting but it can also become frightening if you haven't created a business plan and haven't become realistic about what a career in real estate is all about, says 35 year Remax Real Estate professional and instructor Victoria Caldwell.

"A lot of people go into real estate thinking they will spend all this time looking at all these great houses," Caldwell said. "And while you do get to see some great properties, the reality is that you need to put your problem solving hat on. Because this industry is about 90 percent problem solving for your clients and 10 percent looking at great homes and properties."

While one of the most positive attractions to a career in real estate is the flexibility to schedule your life for yourself, that very loosey-goosey nature of the job can trip up a new real estate professional.

Create a business plan and then be honest with yourself about performing each of those daily steps and you will have success, says Caldwell.

"For instance if you create a business plan that requires you to reach out and contact, in any way, five people per week, then be honest with yourself about that and send those notes or make those calls or visits and then write those people's names into your planner," Caldwell said. "The key is to create a business plan that you stick to even when it begins to feel that it is not paying off."

So how do you come up with a business plan to kick off your new career and what might a business plan for a real estate agent look like?

"With the help of your broker, you can begin to create your real estate business plan," Caldwell said. 

A real estate business plan may look something like this:

1. Take the dollar amount that you want to make in real estate for a year and translate that into the number of clients (buyers and sellers) you will need to work with to earn that goal. To do this you will use the average net commission of the area. Your trainer can help you find that number. 

2. Take that number of clients and translate that into the number of clients you will need to attempt to work with over the year. Usually, for new real estate professionals, that number is three times the first number, Caldwell says.

3. Then take the number of clients you will need to attempt to work with and translate that number into the number of people you will need to be contacting weekly (again, three times the second figure).

"Say the average net commission is 7,500 - then I will make 75,000 selling 10 properties," Caldwell says. "So to get there I will have to actually go and offer my services to three times that many prospective buyers and sellers, which means I will have to offer my services to 30 people over the year. And to get to that many people actually intending to buy or sell, I will have to talk to 90 prospective sellers during the entire year."

Then it's a simple as dividing that number used in the example, 90, by the 50 weeks that you have in a year to accomplish your goal. This means the real estate professional who has created a business plan must talk to at least two people per week who might be thinking about selling or purchasing a home.

"These are people you have contact with who might be going through life changes," Caldwell says. "Perhaps they have had a baby, had a child move to college and want to downsize, have retired, things like that."

"While a business plan can feel overwhelming, successfully and diligently working it allows for some missed days," Caldwell says. "So if you successfully work your plan four days out of seven, three weeks out of four or nine months out of 12 and you are faithful to your plan, I guarantee you will be successful beyond what your goals are. You will blow them out of the water."

 

If you are ready to get your Utah real estate license you may register today or contact us with any questions!

 

Victoria Caldwell is a veteran real estate instructor in the state of Oklahoma. She is a 35 year real estate professional who is still full-time in the industry.

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Utah Real Estate Specialties: Recreational Properties

Utah Recreational PropertyUtah has a ton of awesome things to do for fun. There are many things to do and many things to see. People live in and visit Utah partly because of these great opportunities.

People in Utah enjoy a variety of recreational activities including the following:
  • Snow Sports
  • Hiking and Camping
  • Hunting and Fishing
  • Water Sports
  • Mountain Biking and Rock Crawling

 

Utah also boasts five national parks and 43 state parks! All of these attractions create the demand for nearby and real estate agents are needed that specialize in recreational real estate.

 

Specializing in recreational real estate may be a good choice for real estate agents that are ready for adventure! Agents in this specialty should be ready for new challenges everyday, and will definitely have a story to tell each day on the job.

 

Specialists in recreational properties will find themselves showing cabins, land, condos and other property types. Agents should also be familiar with the area and it's attractions in order to present the entire package to each client as the surrounding attractions are the main reason a client wants to buy the property.

 

We caught up Lane Nygren, a recreational property specialist with Intermountain Realty Group. We asked Lane a few questions about his career. Check out his responses!

 

What do you love about selling Recreational Properties?
Utah is home to so many beautiful and diverse landscapes. Focusing on recreational properties gives me an excuse to spend my time exploring incredible places and doing the things I love. While residential agents are driving their clients from house to house, I may be helping my client test out the fly fishing on what could be the property of his/her dreams. 
 

 


Utah Recreational PropertyWhat is the greatest adventure or experience you have had in selling Recreational Properties in Utah? 
As contrived as it sounds, every time I tour a property it's an adventure. I've stuck the ATV in the snow at 8,500 feet, I've stepped within six inches of a rattler, and I've been caught in my share of mountaintop lightning and thunderstorms. One of my favorite memories to date happened while filming a marketing video for a fishing property called Rainbow Springs Ranch  in Beaver, Utah. 
 
A local family had come to help as extras so we could get shots of them fishing and riding four-wheelers. The dad and his young son were asked by the director to slowly drive down past two fishing ponds and turn around and come back. Everything was going great until the boy reached up and squoze his dad's hand as they were making their turn at the edge of one of the ponds. I was chatting with the property owner when we heard a revving throttle followed by a  gigantic splash! We were able to get the dad and his son out of the pond quickly, and no one was hurt. I wish we could say the same for the four wheeler. Once everyone was out of the water and dried off a bit, we all had one heck of a laugh.
 

 

What is the biggest challenge in selling Recreational Properties?
The biggest challenge is getting Sellers to price their property in a range where someone will actually buy it. It's difficult for folks to let go a place where they have created so many special memories. All the properties we deal with are unique and finding comparable properties is often a challenge. It takes experience and knowledge to value recreational real estate accurately. Once you have the right value, the real challenge is getting your Seller on the same page
A career as a recreational real estate specialist has been very rewarding for Lane and others, it could for you as well! 

 

If you are interested in becoming a Utah Real Estate Agent feel free to enroll in our course or contact us with any questions!

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Real Estate Agent Specialization: Blog Series Introduction

We are proud to announce that we are creating a blog series about the various areas that a Utah real estate agent may focus in. Check back every week for the update blog on each of the featured specialties!

 

We are super excited about this blog series. We plan on featuring real examples from the lives of real estate agents that specialize in the following areas:

  • Farm and Ranch Properties
  • Commercial Real Estate
  • Residential Real Estate

- Luxury Homes

- Golf and Resort Properties

- First Time Home Buyers

- Residential Income Property

 

Real estate students and visitors will gain a feel of what it would be like as a Utah real estate agent specializing in these areas. We feel that it is a generally good idea that real estate agents specialize in an area. This establishes them as a go to expert when buyers and sellers have a real estate need.

If you are ready to become an Agent, you should look into our real estate school and contact us with any questions about getting your real estate license. You can also register on our registration page.

 

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