For new agents trying to get into real estate, one of the most essential steps is making sure you have the financial stability to make it through your first year. There are several recommended ways to make sure you're ready to leap those financial hurdles.
Fairfax, VA -- (ReleaseWire) -- 11/27/2018 --Saving before you start, taking advantage of financial grants, using personal and business loans and studying online are all useful methods of starting off on the right financial foot. You can also ease strains on the cash flow of your new business by making use of commission advances from a reputable company.
Saving before you start. It can take some time but also puts less strain on your finances to identify your likely costs for your first year up front and try to save that money before you begin. There are ways to accelerate this process such as working a temporary side gig, selling unused items in your home or converting gift cards to cash. Most important of all is creating a budget and sticking to it religiously.
Seeking out real estate licensing grants. Local real estate associations may offer financial assistance focused on getting fresh faces into the field. Research such opportunities in your area and take advantage of them.
Applying for a personal or business loan. Loans can be a great way to help address start-up costs for those who have good credit and a solid plan for repaying those loans. Shopping around at both online and traditional lenders can help you find a better rate.
Studying online. Taking your pre-licensing course online could save substantially on the costs of commuting to a classroom.
Using a commission advance service. One of the biggest challenges agents can face as they get started is the long wait times that can occur between finalizing a contract and the actual payment of commission. Cash flow and the ability to buy necessities for your office can be constrained as a result. You can best deal with this problem by getting a commission advance at competitive rates through an experienced provider such as Commission Express.
Of course, finances are only part of the picture. There are many other things a new agent needs to survive and thrive in real estate, including a strong commitment and work ethic, an overall business plan and a willingness to ask for help. That said, being in a strong financial position from the get-go is one of the most crucial requirements of all. Taking the right steps and finding the right support will stand you in good stead for future growth and success.
About Commission Express
Commission Express is America's largest franchise-based commission advance company, founded in the early 90s with the mission of helping real estate agents and brokers achieve the kind of regular and reliable cash flow that alleviates financial worry and provides stability. We've since earned a reputation for some of the most competitive commission advance rates in the business and customer support that's second to none. Decades of carrying out this mission have given us a unique vantage point on the real estate sector, one whose benefits we're always willing to share with other real estate professionals.