RISMedia's Real Estate Magazine

OCT 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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RISMedia's REAL ESTATE October 2018 67 Training more than one million real estate professionals has taught us something: It takes the right formula to succeed. Whether it's pre-licens- ing, continuing education, profes- sional development or luxury train- ing, the key is to never stop learning. A recent survey from Real Estate Express of over 1,000 real estate professionals revealed that real es- tate agents who invest in their edu- cation earn 2.5 times as much as those who don't. Seems pretty sim- ple. Professionals who self-identify as "experts" in staying updated on trends and best practices earn an average gross income of $99,385 per year, while those who self-iden- tify as "failing" in this area earn just $39,412 per year. Let that sink in for a moment. You could earn nearly $60,000 more each year by investing in yourself. More likely than not, if you're read- ing this, you're one of the "experts." The survey also found a correlation among continuing education, job satisfaction and income, so you're already on your way to increasing your earning potential. Here are a few more tips: Give Yourself Permission to Invest in Training Real estate professionals know how to give their time to others, but we don't usually take a step back to in - vest in ourselves. Build Learning Goals Into Your Business Plan Write your learning goals into your business plan. Start with a few things you want to learn this year, bullet point resources you can look into to develop the necessary skills and attach a year-end goal. For exam - ple, if your learning goal is to figure out how to generate leads on Face- book, you may go about developing the skills needed by finding an online course, watching a video on YouTube or reading a how-to published on a blog—with a goal of generating 40 new leads on Facebook, resulting in two sales. Carve Out Time We all struggle with time manage - ment, especially when juggling mul- tiple real estate deals. Blocking time in your schedule each week for your learning goals is a good start. Set aside "office hours" and dedicate them to taking a course, checking in with your mentor, or reading industry news provided by RISMedia or other real estate blogs. Look for Accreditation If you're paying to take courses for continuing education credits, make sure the institution is approved by your state regulatory board and ac - credited by ARELLO, IDECC, or both. These agencies regularly appraise the quality of institutions. Beyond courses for credit, you'll find hun- dreds of real estate coaches and programs you can purchase to el- evate your skills. If you're paying for the services, do your due diligence to ensure their credentials and ex- pertise align with your education goals. Mix It Up Adopt micro-learning principles: the small, everyday moments (think five minutes or less) where you can digest a lot quickly. Subscribe to emails that curate the most help- ful real estate insights from online sources, check in on your favorite blog at a slow open house, listen to a real estate podcast while you're driving to a new listing or join a pri- vate Facebook group that offers up tips from others. This approach will keep things fresh while still pushing your career forward. RE Tom Davidson is the general manager of Real Estate Express, the national leader in online learning for pre- licensing, continuing education and professional devel- opment. Davidson has nearly 15 years of experience in the real estate industry. From sales training and product development to growing the business, his multi-faceted background encompasses crucial functions to a successful career in the field. To learn more, visit RealEstateExpress.com. Put Yourself First: It's Time to Invest in Your Own Success by Tom Davidson N one of us go into real estate wanting to lose money, yet we all get swept up in the numbers game. Real estate is a career where you get out of it what you're willing to put in, and there isn't just one path to success.

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