As real estate markets show improvement across the nation, I am having conversations with people who are interested in the real estate profession. I'm probably not the only person here on AR having this experience. One of the questions I get is "what are some books I can read to gain more knowledge about real estate?" Here are a few books that I HIGHLY recommend for anyone considering a real estate brokerage business.
My number one favorite is The Millionaire Real Estate Agent by Gary Keller. Gary Keller is the co-founder of Keller Williams Realty which is a national brand today. Mr. Keller knows his real estate business. Even though the book is ten plus years old, the practical applications to the real estate business are still very relevant to today. And to prove my point I went through the various success stories mentioned in the book to see where these are businesses are today. I found almost all of them continuing to have not only survived the market changes in the last three years but to also still have thriving real estate businesses. I have learned that successful people don't allow the market dynamics to define them. They are defined by what they practice on a consistent basis. If you have any thoughts of starting a brokerage business, read this book first. You will be glad you did. It is very inexpensive - less than $15 at Amazon.com for a used copy.
The next book I recommend is Shift. This book is also part of the Gary Keller family of books. Shift addresses what real estate professionals need to do when we have such dynamic changes in the real estate market. Because real estate tends to run through cycles, agents can experience periods of tremendous income and then a down turn in activity. Agents generally love the idea of lots of income, but they sometimes do not watch the expenses as closely and get hit during the bottom phase of a cycle. Smart agents and brokers keep their eyes on the entire equation of gross income less expenses equals profit. Being proactive and profitable is the conclusion of the matter. This book is also less than $15 on Amazon.com.
The Language of Real Estate by John W. Reilly is another great book. Look for the sixth edition. It is loaded with terms and definitions commonly used in the practice of real estate brokerage. I use my copy as a reference book often as there are hundreds of terms specific to real estate. For example, we have many acronyms in real estate (RESPA, BRETTA, HUD, PITI, MSA, FHA, and so forth), and this book covers each acronym. Just a great reference book. I purchased my copy through the Georgia MLS Training Institute. Less then $10 new at Amazon.com.
For anyone starting any business I recommend The 7 Habits of Highly Effective People by Stephen Covey. The very first habit 'begin with the end in mind' takes our ideas and vision about what we want our business to be and challenged us to write it down in an objective manner with specific goals and timeframes for achieving those goals. When a person can answer the question 'what is it that I want to achieve in my real estate profession and when do I want to achieve it and why do I want to achieve it' in a documented statement, the person has defined his or her end goal. Goals help to anchor us and influence our focus so that we get to where we want to go. There is a tremendous amount of learning from The 7 Habits of Highly Effective People beyond what I am mentioning in this post. Less than $10 at Amazon.com.
There are tons of other books out there, but these four are my favs and have a place in my library. And these four are plenty to get started.
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