What are you guys opininons about an agent starting out in an area that they just moved to and are are semi unfamilar with? Of course you do research beforehand to learn about it and join a firm that has a good training program... but in general is this a bad idea or is it doable?


Thanks for any insight!

good luck in Austin. have a few good friends/colleagues there. if there's any city where an enterprising person can make it without much prior knowledge, Austin seems to be a good place as it's a city that always seems to be growing....but it certainly won't be easy

Thanks Rusty! Actually I'm living in Austin right now and will soon be moving to Tampa


Do you have any idea if a firm likely to hire an agent with limited knowledge of area and no experience, but only a desire to learn?? or is it more realistic to get to know the area well and thn apply... i was thinking #2 but then again you never know!

It's really not a question of if a firm will hire you, as most will beg you to sign on with them. It's a questions of having money ready to live off of when you have a slow start with a small sphere of influence. I started in Phoenix knowing nobody and it took 3 months to get my first contract.

Hmm that's good advice Kryssa, Thanks. And yes I'm saving up right now for the move. Are you serious about the firms begging to sign on with you part? I would think it would be the other way around.. Interesting.

You are a potential "client"/ prospect to the broker.... so yes, they would love to have you on board. More than you want.

I moved from mississippi to virginia in august. I recieved my license in late september. I don't know anyone here but I have been grinding it with the success of 1 listing so far.
I prospect everyday and I am trying to make a name for myself. Things maybe going slow but you have to work for what you really want.

Hey RemaxRealtor,

Did you have to take the fundamental course all over again in Virginia? If so, did you have to take the whole exam or just the state portion of it? Prior to moving to VA, did you need to contact the DOL in MS to let them know you will be moving? What happened to your MS license? Sorry for all the questions. I passed my exam over a year ago, but I am not active. So now, I'll be moving to a different state in a few months and need some input on things. I'm thinking since I'm not an active agent, I'll probably have to start from scratch. Right? Also, I am in the process of selling my house, do I need to tell my Realtor that I am inactive?Thanks in advance.

Speaking as an agent that has changed areas several times, I can say that it can be done. The only downside is that its like starting over again.

I have changed region or just been out of the active business 3 times over the years. In fact, I am on sabbatical right now and have been for a year and a half. When I return in July 2007 I will basically have to act like I am starting all over again.

The one upside is that you can still point to your years of experience, etc. So at least it's not as if your fresh from the exam.

R

Robert is absolutely correct. Starting up in a new city is like starting over from scratch, almost. YOu need to learn the market, you need to make some friends, you need to learn the local customs and laws.

Last summer I left a 10 year career in Denver and "started over" in Alabama. It was much harder than I thought it would be, mainly because I was used to being an expert in my field. I knew Denver inside out, I had the contracts practically memorized and I had a huge, profitable SOI. Starting from scratch was awfully tough on the ego.

If you're looking for a challenge... you'll have one! But you can certainly succeed, if you want it badly enough. My advice would be to start making friends as quickly as you can.

Jennifer

what do you do to start with no experience??

You'll get a lot of different opinions on the best place to start if you're brand new... but I'll say this... if you have a choice as to whether or not to move to a new area, I'd say stay where you are if you want to go into real estate. Starting over in a new area only makes a challenging situation even more challenging since you don't know anyone, nor do you know your way around town. Your learning curve will be even steeper than other new agents, 80% of whom fail in their first year.

Okay, enough of that. In my opinion, you need to do two things first.... Learn Your Market and Build Your SOI. You learn your market by previewing, doing practice CMAs, visiting new home communities and previewing some more. As far as building your SOI, that depends on your personality... you can try to make a whole bunch of friends quickly, or you can start hitting up FSBO's, expired, taking floor time, doing open houses, etc. etc. etc.

If you stayed where you are, how would you plan to build your business?

Jennifer

Be a licensed assistant. You'll get paid as you learn.

I had just barely started in real estate in Georgia 3 years ago when we relocated to northern Virginia, where I knew virtually no one and had no idea where anything other than the mall was located. I was pathetically ignorant; to make matters worse, I hate to drive in traffic (even with GPS) and am shy by nature, so I absolutely do not cold call. Not exactly a recipe for success, you'd think.

After getting my Virginia license, I affiliated with a firm where I did a little of everything the first year - from sitting open houses for other agents to lots and lots of desk duty. I also did lots and lots of rentals; the first year I did over $6 million, of which $2.5 million came from people who rented through me and after a few months decided to buy or who ended up buying instead of renting. I met with one couple to show them 2 rentals but they ended up finding something on their own...6 months later, they logged onto my website (they didn't have my card, but they googled my name) and contacted me to help them buy a house.

This year, I showed some rentals to a couple who then found something on their own so it seemed I wasted a few hours of my time and some gas. A week later, however, my phone rang and it was a friend of theirs moving to the area who wanted to buy a house. 45 days later I went to settlement with them on a $600,000 property. My "wasted time" ended up being fairly profitable after all.

So, while I am a big advocate of rentals as a good source of business (because many agents won't do them), I am even more of an advocate for simply getting out there. Not getting out there and shoving your card in everyone's face but just striking up a conversation whenever the opportunity arises. Of course, the key to being successful with this approach is to KNOW THE MARKET. Know it inside and out. Know what's going on, stay informed and be confident when you talk about it. You won't need to ask for business; people will *want* you to represent them.

p.s. I have also picked up listings in my own neighborhood because I have met half the residents while out walking our dog! Dogs can be great for business!!! Be creative, know the market and get out there...it can definitely be done!