First Day - 9/21/2006

I arrived at 9 am for a weekly update meeting with the real estate group. The meeting was casual and informative with information primarily provided by Bob, the managing broker regarding the residential and commercial real estate industries locally and nationally. While foreclosures and listings have increased dramatically over the previous year the market is favorable for multi-family properties and investment properties.

After an initial overview of the MLS system I met with the trainer/mentor, Todd, and we spoke about the training process and research/information tools. MetroScan is a program which uses city and county Assessors’ information to provide a searchable database of properties. MetroScan used in conjunction with the MLS database and other informational sources is a primary provider of leads and research.

One of the major delays in getting started is going to be getting my license assigned to Bob. At the moment I have a temporary work permit which has been approved by the MREC. Within a few days I should have received the individual broker license. Once I have the license it can be returned to the MREC and a Broker-Salesperson license can be placed with Bob.

What I learned today:

1. Brokers are information providers
2. Property owners have four actions they can take
1. Sell
2. Buy
3. Hold
4. Exchange
3. Lead generation practices

Tomorrow I have four tasks to complete:

1. Define farm area
2. Identify existing “players” in the farm area
3. Begin compiling contact information database
4. Meet other agents in the office

I’m extremely excited about working with the professional at Realty Exchange and am confident that the combination of their guidance and my hard work and persistence I can be as successful as anyone in the industry.