The Secrets of Successful New Real Estate Agents
A great many new real estate agents never make it through their first two years. They underestimate expenses and overestimate income, a deadly combination. Or they rely too much on old industry truisms that aren't as valid in the real estate world that has developed in the internet-driven decade since the 2008-09 financial meltdown. These three articles buck some of the conventional wisdom, unlocking fresh secrets to real estate success.
There are ways to present yourself and handle your business that will separate you from the "pushy real estate salesperson" image. Excellent photography skills and the ability to write compelling descriptions about listings will go much farther than selling skills. Think "consultant" for better results. Try to stay out of "sales" mode, even if you're starving for a deal.
Thinking small doesn't mean not planning for growth and success in this article. It's about understanding your status as an independent contractor and always being in control of your marketing so that your business is portable, flexible and able to move and grow with you.
Your long-term success depends on many things, but a good beginning business plan is one of the most important.
Don't let your enthusiasm to get a client right away keep you from the all-important business organizing and budgeting tasks. The tools and instructions here will help you to focus on important business practices and get a fast start on building your prospect base without spending a lot of money.
It's critical in your real estate agent career that you not only cover your real estate agent expenses but your personal living costs as well. Spreadsheet your personal living expenses and don't leave out anything, including cash out of pocket for fun or coffee. Cover that, add a little, then calculate your business budget. Revise as necessary.
You've heard it: "If you don't list, you'll not last in real estate." It's a very old saying, and it applied in the very old real estate world. The market and the business have changed, and you can be successful as a new real estate agent, or even through an entire career, in working only with buyers and not listing properties as a seller's representative. Even if you do both, at least you'll give buyers more respect and balance your business income a bit better.
It's a big step to pass that real estate exam, get the license and start a new business. Most new real estate agents fail in their first year or two, but you do not have to be one of them. It comes down to not making assumptions and preparing to hustle. Don't assume, for example, that because you've told all of your family and friends about your new career you'll start receiving tons of referral business from them. Nor should you rely too much on the broker you hook up with; just because you're now listed on the website or brochure doesn't mean leads will start pouring in.
On the other hand, definitely get as much floor time in the brokerage office as you can, even taking shifts from others. Every walk-in is a potential commission. Don't look down on any prospect. One new agent took on a walk-in that nobody else in the office wanted to work with, because of his dirty and torn clothing. He turned out to be the working owner of the local trash hauling company – and the source of one of the biggest deals of her first year.