Investors and entrepreneurs entering the cannabis and hemp industry often need help from real estate agents familiar with properties that can support their business plans. Succeeding as a cannabis real estate agent or hemp real estate agent often means finding ways to exceed the expectations of your clients. That’s easier said than done if you’re new to the industry. The following tips will help beginner and experienced agents succeed in this growing market.
Get the Qualifications You Need to Sell Real Estate in a Green Zone
You will need to get a real estate agent’s license before you can start working with clients independently. The steps to getting your real estate agent’s license varies somewhat from state to state. In California, for example, the process involves:
- Completing at least 135 hours of pre-licensing education.
- Signing up for the salesperson exam.
- Submitting your fingerprints for a criminal background check.
- Getting a sponsorship from a currently licensed broker in California.
- Scoring 70% or higher on the real estate salesperson exam.
Look up the requirements for your state so you can take the necessary steps toward qualifying for real estate agent jobs.
Some states have reciprocity agreements with other states. That means getting licensed in one state means you can conduct business in those with reciprocity agreements. Again, the rules can vary significantly from place to place. California does not have reciprocity with any state. Colorado, however, has full reciprocity with all states. If you’re qualified to work as a real estate agent in any U.S. state, you can also work in Colorado.
If states near you do not offer reciprocity, you may want to get licensed to work in more than one state. The option to sell and rent property in more than one state should make it easier for you to attract clients and help them find real estate that matches their needs.
Find a Mentor Who Can Show You How to Succeed
Cannabis and hemp real estate is a very “hands-on” industry. You will learn some of your most important lessons on the job. Lower the number of mistakes you make by finding a mentor who can show you how to succeed.
A mentor can help in several ways, such as:
- Telling you how to spot signs that indicate a deal probably will not close.
- Teaching you how to tell the difference between mediocre and excellent green zone properties.
- Helping you navigate the complicated legal landscape that surrounds the cannabis industry in many states.
- Introducing you to real estate agent jobs that normally go to more experienced people.
How do you find a mentor? Start by identifying professionals in your area you respect. You can also go to conferences and other professional events to meet people who interest you.
Perhaps most importantly, make sure others know that you want to learn from a mentor. You don’t want to come across as needy, but you do want to show that you take your career seriously and understand the importance of mentorships.
Understand the Diverse Needs of Cannabis and Hemp Real Estate Investors
Real estate agents for rentals and sales need to understand the diverse requirements of clients that want to work in the cannabis and hemp industry. Needs are specific to each client, but you can divide them into a few general categories, including:
- Residential acreage
- Warehouses with existing systems for indoor growing
- Industrial spaces for making cannabis products and storing merchandise
- Farmland for growing cannabis and hemp outdoors
- Greenhouses for sale that can extend the growing season
- Commercial and retail spaces where companies can sell to patients and customers
At first glance, this might not seem very difficult. How hard is it to find an attractive retail space in a high-traffic area? That might depend on local ordinances that dictate where cannabis and hemp retailers can operate. Some communities in states with legal cannabis do not allow any dispensaries or cannabis retail stores. Others have fairly permissive laws that make it much easier for companies to reach their customers.
To really understand the needs of hemp and cannabis real estate clients, you should also learn about topics like agriculture, hydroponics, and extraction equipment. The more you know, the more helpful you become as a hemp and cannabis real estate agent.
Market Your Expertise to Attract More Clients
Once you have an expertise in cannabis and hemp properties, you can use your experience to attract more real estate agent jobs in the industry. Many people find that they can market themselves effectively by:
- Starting professional websites where they can publish blog posts to build authority and increase organic search traffic (make sure you include long-tail keywords like “cannabis real estate agents near me” and “cannabis real estate agents for rentals”).
- Writing guest posts for industry websites, newsletters, and blogs.
- Posting to popular social media platforms, including options like LinkedIn that focus on professional relationships.
- Advertising your services on professional directories.
- Staying in contact with previous clients by sending them cards and emails for special occasions.
More companies and investors are looking for real estate agents with rentals and property for sale. At the same time, more real agents are getting involved in the industry. Make yourself stand out so you can attract clients before your competitors can.
Connect With Renters, Buyers, and Sellers to Build Relationships
You cannot overestimate the importance of building relationships in the real estate industry. Getting real estate agent jobs is often as much about who you know as how much experience you have.
Many real estate agents find that they thrive financially by putting clients ahead of their revenue goals. Instead of focusing on closing deals, try to establish relationships between as many people as possible. That could mean taking time out of your busy schedule to introduce a potential buyer to an investor or private lender. You don’t know that you will profit from the introduction, but you will establish yourself as a trustworthy, helpful person willing to put other people’s interests ahead of your own. In the long run, this approach often means you gain the reputation needed to succeed in real estate and cannabis.
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