Q. How much training is required to get a license and start my career in real estate?
A. The State of Ohio requires you to take 120 clock hours of required education courses prior to your being allowed to take the state license test. Coldwell Banker Hunter Realty offers outstanding training and education utilizing both computer and classroom training. You will find during your career that advanced training will always be required for you to stay informed about the business including 30 hours of state of Ohio required continuing education to be taken every three years to maintain your real estate license.
Q. What type of professional sales training does Coldwell Banker Hunter Realty provide?
A. Coldwell Banker Hunter Realty offers outstanding training and education. Just click here
Q. What personality profile and educational background provide the best chance for success?
A. While sales and people skills give you a jump on the competition, we still find that people from most vocational and educational backgrounds have been very successful in real estate.
Q. Can I keep my current job during training?
A. Yes, during the pre-license period each office sales manager will provide a tailored program for entrance into the profession depending on your current career situation.
Q. When will I know if this is the right career choice for me?
A. There is no hard and fast rule to determine success. Most people will know in 3 to 6 months if they have chosen the correct career path.
Q. How much time will it require duing the first year to be a success?
A. Successful agents find the profession requires strong work habits and put in long work hours to succeed. Newly licensed agents typically spend 50-60 hours a week in the first year of real estate. The flip site is that you are your own boss and can set a schedule that suits you and take time off and vacations when YOU choose.
Q. How much will it cost to get started?
A. Pre-license 120 hours of course training will cost approximately one thousand dollars ($1,000 USD) depending on the school you choose. To find out more about pre-licensing education log on to Hondros College at www.hondros.com and review their Real Estate Career Start Package. The cost of taking the Ohio State license exam is $108. You will need to pre-register and be sponsored by a State of Ohio Real Estate Broker, the results of the exam will be given to you upon completion of the exam. There is an annual State of Ohio Continuation (license renewal) fee of $39. Most Real Estate Companies, including Coldwell Banker Hunter Realty, belong to the local, state, and National Association of Realtors. The annual dues are approximately $340 per year which are prorated at the time you join plus a one time application fee of approximately $125 if you are a new applicant, depending on the local board of choice. The next step is to join the Multiple Listing Service (MLS), which will cost approximately $30 a month depending on the MLS joined.
Q. Can I begin to list and sell real estate immediately after receiving my license?
A. Yes, however under the close supervision of your office sales manager. Many of Coldwell Banker Hunter Realty Sales Offices also offer a mentor program that can be used during this period to help launch your new career at a faster pace.
Q. What is my job description
A. There are literally dozens of activities that, as an agent, you can take part in during your business week, such as the following:
- Previewing your office's new listings on office tour
- Previewing properties listed by other agencies
- Completing paperwork on transactions
- Following up with customers/clients
- Following up with prospects
- Setting showing appointments
- Showing properties to buyers
- Attending office meetings
- Attending educational sessions
- Prospecting for potential customers/clients
- Doing listing presentations
- Learning about title, escrow, closing procedures
- Organizing materials/your desk
- Answering calls at office on schedule assigned by office (commonly called floor time)
- Holding open houses for the public
- Holding open house for the cooperating agents (brokers' opens)
- Preparing brochures for properties
- Promoting yourself (preparing brochures, cards, etc to mail to identified markets/other promotions to increase name recognition)
- Following up on transaction to the end of the transaction (closing)
- Studying finance options
- Planning your days, weeks, long-term goals
- Working on and learning the Coldwell Banker and CBHR internet and intranet sites and technology programs
- Following up on and managing leads
- Go On-Line with the Professional Development Series and learn
Q. Where will I get most of my customers?
A. The following is where our successful associates get their customers:
- Sphere of influence (people you already know)
- Open Houses
- Prospecting your "inner circle" (relatives, etc)
- For Sale by Owners
- Expired Listings
- Demographic Prospecting (Attorneys, CPA's, Insurance Agents, Financial Advisors, etc)
- Corporate calling
- Geographical Prospecting
- Sign/Ad calls
- Floor Time
- Realtor Referrals
- Community Involvement
- Buyer/Seller Seminars
- On-line leads
- Relocation Referrals
Q. How long before I get paid?
A. Generally, you should expect to have a transaction in the first 30 to 60 days, commissions are paid at closing which is 30 to 45 days after the time of sale.
Q. How does the commission split work?
A. The average commission charged to most sellers depends on local market practices. This amount is then divided between the listing and selling real estate brokerage. You then split the commission with Hunter Realty. Coldwell Banker Hunter Realty has a menu of generous commission programs that you can review with a Coldwell Banker Hunter Realty office sales manager.