This document discusses various aspects of working in the real estate industry. It covers different real estate careers like brokerage, property management, and counseling. It also discusses how the economy and business cycles can affect real estate markets. Finally, it provides guidance for new real estate salespeople on tasks like prospecting for listings, writing purchase offers, and closing escrows.

2. Real Estate – A Business of Many Specializations
 Getting Started in Real Estate
 Careers in Real Estate
› Careers in Brokerage
› Careers in Property Management
› Careers in Real Estate Counseling
 Why Go Into Residential Real Estate Sales?
› High Potential Earnings
› Independence
› Flexible Work Schedule

3. How Does the Economy Effect Real Estate?
 Texas has a Strong Economy
 Effect of Business Cycles on
Real Estate Markets
› Business Cycles
› Real Estate Cycles
 Characteristics of a Real
Estate Markets
› Real Estate is Unique
› Real Estate is Immobile
› Real Estate is Illiquid
› Real Estate has a Limited
Number of Buyers and Sellers
 Real Estate Market
Segmentation
› Specific Regional Markets
› Specific Markets by Property
Use
 Texas Housing Market
› Median Home Prices

4. Choose the Right Brokerage Company
 Prepare for the Interview
 The People in the Brokerage
› Licensees
› Brokerage Coordinators
 Types of Business
Ownership
› Sole Proprietorship
› Partnership
› Corporation
› Limited Liability Company
 Size of the Brokerage
› Small Independent Firms
› Large Independent Firms
› Franchises
 Training
 Broker’s Responsibilities
› Broker Must Maintain an Office
› Monitor Activities of
Sponsored Licensee Holders
› Written Policy and Procedures
Manual
› Handling Trust Funds
› Retain Records
› Rules for Real Estate Signs

5. Prepare for Success
 Prepare Your Finances
› What Do You Expect to Earn?
› Get Your Finances in Order
› Get Your License and Join the Board
› Get the Necessary Equipment
› Get Adequate Insurance
 Professionalism

6. What Does a New Salesperson Do?
 Preview Properties
 Prospect for Listings
› Comparative Market Analysis
 Match Prospective Buyers with Properties
 Write Up Purchase Offers
 Handle Paperwork and Close Escrows
 Meetings and Trade Associations

7. How Will You Get Your Business?
 Advertising
› Name and License Status
› Use of Words
› Penalties
 Who Are Likely Prospects?
› Do-Not-Call and Do-Not-Fax Rules
› CAN-SPAM Act of 2003
 Prospecting Strategy
› Direct Marketing
› Personal Selling
› Networking
› Social Media
 Always Ask for Referrals

8. Real Estate Law
 The Purpose of Licensing Laws – What a License Holder Can
and Cannot Do
 The Texas Real Estate Commission