GAMBINO New Agent Guidebook
Yo u r C a r e e r S t a r t s H e r e
L i f e’ s To o Sh o r t It’s Easier Here Let’s be honest. You’re looking at making a career change and you have a lot of questions, and maybe you are a little apprehensive. We have mentored and guided hundreds of new REALTORS to success since 1923. We know exactly what it takes to become successful, and we know how to make it easy for you! Take a few minutes to flip through our New Agent Guidebook to get answers to those questions and see why the most successful agents love working at Gambino Realtors!
I think I’d like being a professional real estate broker...
He re’ s t he Unv a r nis hed Tr u th: Not Ev e r y o n e Is Cu t Ou t to Be a Re al Es t a t e Bro ke r. Likewise, not everyone would make a great chef, nurse, minister or alligator wrangler. Make no mistake, real estate is a great career, but it is unlike any other career you might consider. Here are the PROS: • Meaningful Work – You help people make their dreams come true. Being a Real Estate Broker gives you a sense of purpose, rather than just a job to show up to every day. • Freedom and Independence – Real estate brokers are Independent Contractors, so you are your own boss. • Work from Anywhere – You can work from home or the office. Technology allows you to work wherever you are. • It’s Not Boring – No two days are alike; No two clients are alike; No two homes are alike. • Respectability - You will be considered an expert in your field. • Flexible Hours – You get to make your own schedule. • Unlimited Income – You set your goals and we’ll help you achieve them.
Here are the CONS: • Variable Income Stream – Real estate sales are somewhat seasonal, so you’ll make big money in the spring and summer, and less in the fall and winter. It takes a little time to get started, so the first year or two will produce a modest income. • It Is Work – It looks like fun (and it is!), but only those brokers who work at it full-time reap the rewards of a full-time income. • There Are Upfront and Ongoing Costs – Of course there are! As with any business (and you are your own business), there are costs to get started and to maintain licenses, memberships, etc. Fortunately, those costs are very modest compared to the income!
Real Questions Honest Answers
We’ve been doing this since 1923 and we’ve partnered with hundreds of great people over the years. Most have gone on to a long and rewarding career in real estate. The truth is, nothing makes us happier than to guide and mentor someone to success well beyond their expectations!
What does it take for me to become a real estate broker? Selling real estate requires a license issued by the State of Illinois. In order to obtain that license, you must take a class and pass the final exam. After that, you are prepared and able to take the state exam. The class and state exam are not terribly difficult, but you will need to pay attention in class and study in order to pass. Once you have passed the state exam, you can make an appointment with us to make arrangements to begin your real estate career immediately!
What is the typical work day like? No two days are exactly alike, and that is what makes selling real estate interesting! Your schedule is what you choose to make it. You can work in the office or from home. Most agents do a little of both. Some days you will visit with clients, and on other days you will work on a market analysis of a home or handle the details of a contract and closing. Most days it will be a little bit of everything. It helps if you are organized and can manage your schedule well. The most important job is to constantly seek new clients to assist. The most successful brokers have a series of methods of finding new buyers and sellers, and therefore they enjoy a steady stream of new business.
How much can I expect to earn, and when? Honestly, it can take a couple of months before that first commission check arrives. You should be prepared financially to start slowly and then grow your business over the first year. Depending on their client prospecting ability, a typical full time agent could earn between $25,000 and $40,000 their first year.
What does it cost to get started? There are three costs associated with starting your new career: pre-license school $590, state exam $100, and membership fees for the National Association of Realtors as well as the Rockford Association of Realtors. You should budget $1,000-$1,200 to get started. There are expenses throughout each year including annual license renewal, membership dues, and access fee to the Multiple Listing Service. After your first year you should budget $1,400 for annual expenses.
How do I know if I’d be successful?
Good Question! Here are a few attributes of successful real estate brokers: You Need to be Self-Directed Many people are used to being told what to do; when to come to work and when to go home. That’s not a bad thing, but that doesn’t happen in real estate. If you think you can set your own schedule and stick to it, you could very well be a success!
You Need to Prospect for New Clients Constantly The #1 factor that determines success is whether you wait for something to happen or you make something happen. There will be over 5,000 homes sold in the next 12 months -that’s 5,000 sellers and 5,000 buyers, and many of them don’t know who will be their real estate broker. We’ll show you how to figure out who is getting ready to buy or sell and how to reach out to them!
You Need to be Organized The modern real estate transaction is somewhat complicated, but that’s why our clients need us! There are forms and contracts to complete, market analysis to prepare, title work, and a myriad of other details to monitor. We’ll teach you how to be an expert in every area, one spoonful at a time, and we always have your back.
You Need to Do This Full-Time We’ve heard some future brokers say that they’ll do real estate part-time until they make the equivalent of their current full-time job. Truth alert: It never happens! Part-time effort and commitment yields part-time results. Yes, you can hold down a part-time job for a little while, but it could be holding you back from making the kind of income you want.
So... How Do We Make it Easier?
Since we’ve guided literally hundreds of new brokers to outstanding success, we know what to teach you and when. Your pre-license classes teach you laws, terminology, and principles, but not how to make a good living selling real estate. That’s where we come in. There is a lot to learn and most of it can’t be found in a book.
Here’s what you can expect: Your first week with us will be devoted to getting you set up with a professional photo; ordering business cards, signs, etc. We’ll process your paperwork to get your Illinois Real Estate Salesperson’s License; help you get set up with the Rockford Association of REALTORS, and many other details. Don’t worry; we’ll do most of the work! After you are all set up, we will introduce you to your very own personal business coach! Your coach is very knowledgeable and experienced and takes a genuine interest in your success. We pay your coach for each sale, so they also have an incentive to see you succeed quickly! Training is a constant here at Gambino Realtors. We offer classes every week, as well as twice monthly at our sales meetings. In addition, we offer online courses through our Gambino Real Estate Institute, so you can learn from the best instructors across the country. Classes, books, and webinars provide a wealth of information, but most people gain their skills in the field by actually interacting with real clients. Our management team (including your coach!) is available 24/7 to help you navigate tricky situations, answer questions, and provide support. We’ll even go with you on your first few appointments to help you succeed! Finally, we provide good leads. Through various methods, we bring interested buyers and sellers directly to our agents. You’ll need to develop your own clientele, but it’s sure nice to have some leads to work on as you are getting started!
Do n’ t Ju s t Ta ke Our Word For It!
A Conversation With our Agents...
Here’s What Our Experienced Brokers Are Saying
Jean Campbell The stellar advertising strategies and support from management made my move to Gambino Realtors a positive addition for my clients. The work on branding is fabulous! Superb people to work with too!
Lyle McKinney Wouldn’t work anywhere else! Very supportive staff from the beginning of my Real Estate career and continues today. I have all the tools to go into a listing presentation and demonstrate the many advantages to listing with Gambino Realtors. A wonderful group of Realtors in the office is just the icing on the cake! Gambino Realtors is a great company to work for.
Sandy Basel Working at Gambino Realtors was the best decision I made in my real estate career. I love the open door policy of the owners Jon Krause, Frank Gambino and Heather Porter. If I ever have a concern, one of them is always available for discussion. Gambino also has one of the best mentoring program for new agents. The best part about the Company is that whether you sell one property or many properties, everyone gets royal treatment!!!
Dale Williams Gambino Realtors - A great group of people to be associated with. Helpful, Encouraging, Thoughtful and Caring are a few words that come to mind. The managing brokers are constantly researching areas to help with the productivity of their brokers in keeping us up to date. No Place Better To Be!
We Ta ke Fu n Seriously
No doubt you will work hard, and there will be a few stressful days. We plan multiple events and activities each year to help our brokers blow off some steam...
We Invite You to Schedule a Time to Visit and Answer More of Your Questions
Contact Heather Porter Vice President & General Manager hporter@gogambino.com 815.316.4048
READY TO GET STARTED? You can sign up for the next real estate pre-license course right here!
GAMBINO R E A LT O R S FOUNDED IN 1923 L O C A L LY OWNED
OUR AGENTS LIVE, WORK AND VOLUNTEER IN THE COMMUNITIES WE SERVE
Call Gambino Realtors 815 | 282 | 2222 Join our family and feel right at home!