UnUnWhen it was announced in 2018 that California had surpassed the United Kingdom as the world’s fifth-largest economy, few people who had been paying attention were surprised. California is not only one of the largest states in the Union both in terms of its geography and its population, it is also one of the most dynamic: home to the vast agricultural lands of the Central Valley and the tech hubs of Silicon Valley, California is as famous for its almonds and oranges as it is for Facebook and the iPhone.
Not surprisingly, this translates into huge opportunities for those working in real estate: once you pass your online real estate courses for California and become a licensed real estate agent, you have your pick of markets and industries, from the super high-end luxury condo market in Los Angeles to the sprawling suburbs around Palo Alto. And if you prefer a quieter pace of life, you can set up shop in the pristine, mountainous communities around the Shasta-Trinity National Forest, or amongst the farming communities around Modesto and Fresno and Bakersfield.
The opportunities are limitless, and real estate agents who have drive, passion, and a desire to provide the best for their customers can make a good living. But the very diversity of housing stock can be a danger for the newly licensed, and if you want to start selling properties in California it is important to find a niche that you can make your own.
If you want to make the most of your career in California real estate, here are three things you should keep in mind:
1. Specialization is Key
Success in real estate often hinges on being able to know everything there is to know about a particular segment of the market. Because of the sheer range of properties that will be up for sale at any given time in a single county in California, you need to figure out what your brand is if you are to build a customer base.
For example, many real estate agents focus on a particular kind of property (luxury condos, for instance, or suburban single family homes), or on a particular group (young buyers, out-of-state buyers, ethnic communities).
2. Be Tenacious
Once you’ve settled on a particular niche, it is important to stick with it for at least a couple of years. It takes time to build a reputation and get your name out, and the worst thing you can do is get impatient and jump around the market.
3. Keep an Eye on Trends
In the busyness of day-to-day buying and selling, it can be easy to lose sight of the big picture. But in a state as dynamic as California, the only constant is change, and keeping an eye on where the economy is going and how housing trends are evolving can help you take advantage of changes in the market rather than falling victim to them.
After years of solid growth, there have been indications that the California real estate market may be slowing down. But while the white-hot boom that has happened in tandem with the explosion of Silicon Valley may be cooling off, the beauty of California real estate is that there are so many other parts of the market for salespeople to take advantage of.
If you think a career in California real estate is right for you, take California real estate classes, become licensed, and start looking for your niche today!