What Tips Would You Share With New Realtors Just Starting Out in the Business?
We asked this question on our Inman News Facebook page this week and we received a lot of great feedback, comments and advice. Check out the list below – what pearls of wisdom could you add to this list?
Can you imagine if you were starting out today as a Realtor? Or, maybe you are new to the business – I’d love to hear what you’ve learned!
What Tips Would You Share With New Realtors Just Starting Out in the Business?
Please leave us your thoughts and comments below!
Written by: Katie Lance, Social Media Director, Inman News, @katielance
sfvrealestate | Apr 29, 2011 | Reply
I would let them know that being an agent is not free — they will spend a lot of money on their careers. Sad to say, it’s likely that the more they spend, the more successful they’ll be.
Kris Coutant | Apr 29, 2011 | Reply
I always tell the new agents in our office that you do not have to recreate the wheel. There are systems in place – find the one that you feel will work best for you and follow the steps.
Also when you first get into real estate, it is very overwhelming – what do you do first? Website, farming, prospecting etc. Learn to time block your tasks and prioritize what is most important. Remember the expression about how to eat an elephant – one bit at a time.
Mark Brian | Apr 29, 2011 | Reply
Never ever believe a sales pitch from the many many people that prey on new agents with the latest greatest way to succeed.
If you get a phone call and they say “I represent REALTORS on google” hang up.
Never pay for leads. Never consider people as leads or numbers or potential commission checks, they are people!
Angela May | Apr 29, 2011 | Reply
1) Be honest no matter what, even if you know it’s not what the client (or prospect) wants to hear.
2) Work from the heart, not for a paycheck.
3) Always treat other agents as you wish to be treated. To succeed you must be respected by colleagues.
4) Surround yourself with others who are positive and successful.
5) There is always a “positive” within a negative situation. Dig deep until you find that nugget and learn from it.
Good Luck!
Stacy Stateham | Apr 30, 2011 | Reply
Great stuff! I started with a brokerage that had a great mentoring program, full support staff, and in-house training. I had an awesome mentor who showed me how to do opens the right way, took me to closings so I knew what to expect, walked me through all the contracts, etc.
The most important thing for the first year is training, training, and more training.
Steven B. Harkness | Apr 30, 2011 | Reply
These are all great idea’s, and important but the most important one of all has not been mentioned. Since you don’t get paid unless your deal closes, and your professional reputation is on the line each, and every time you write a purchase and sale agreement. It seems to make sense to me to partner with a licensed, veteran Loan Officer. Yes I am a 17 year plus licensed lender so I may be a bit biased, but I can’t count how many hundreds of transactions I have seen fall apart because Realtor’s treat lenders as a commodity, as if they are all the same. Nothing could be further from the truth. In fact, I feed referrals to my agents on a ratio close to 10 to 1. I obtain my leads through my vast social online networking efforts using video which is the way to go now. NAR says 87% of all home buyers & sellers begin their search on the web. What are you doing to make sure they find your webpage and not your competitions? A good Loan Officer/Referral partner could teach you the in’s & outs to this constantly changing type of marking. I have said my two cents worth, and you can ignore me if you wish.
Respectfully,
Steven B. Harkness
W.J. Bradley Mortgage Corp Inc
501 Bay Street #100
Port Orchard, WA. 98366
Ben Fisher | Apr 30, 2011 | Reply
Great info here. Thanks for all of the comments showing new agents the way to get started in this biz.
Alex Cortez | Apr 30, 2011 | Reply
It may sound overly simplistic, but treat people with respect – whether they are colleagues, clients, vendors. I can’t tell you how many agents I’ve seen treat clients like a paycheck and other agents like the enemy, this type of negativity transcends a single transaction and can easily become your reputation.
Jennifer Mackay | Panama City | Apr 30, 2011 | Reply
I find honesty is the best policy – and don’t forget to answer your phone on the weekends – you never know who will be calling
Allen Kennemur | Apr 30, 2011 | Reply
From an agent who was making 6 figures and lost everything but now back on top, SAVE SAVE SAVE every dime you can.
Gabe Sanders | Apr 30, 2011 | Reply
I would advize rookies not to just go where the commission split is best, but to look for a firm that owns or does really well in the local market. They should have a first class training program for new agents. And the most important, find a really good agent, whose style you like and see if they will mentor you.
Brad | Home Loan Artist | May 1, 2011 | Reply
1. Find a great lender who has lead generation systems in place…..they’ll be able to hand you 2-5 slam dunk deals a year(i do anyways). In return, you refer your buyers to them.
2. Start blogging now. Learn from someone who really knows how to do it right….very few do. This will generate 5-10 closed deals a year. If your mentor isn’t generating this many a year, they don’t know what they are doing.
3. Become a marketer who sells real estate. You can always get help when it comes to contracts etc….but no one is going to create and implement a unique marketing plan for you.
4. Define your USP and brand yourself everywhere as the local expert in that niche… Differentiate yourself from all the other agents.
Greg Eckler - Denver Realty Experts | May 1, 2011 | Reply
before you do anything, do it for the right reason. There is a lot of peer pressure to buy this system or that system. know yourself and know how you plan to run your business. Are you going to work mostly by referral, – build those systems. Will it be internet, networking, farming, etc. Fit your business model to your strenghts and only spend on smart products that support that. Just because everyone at your office is on facebook doesn’t mean you should be too – unless you know why you are doing it. Same with all the other stuff. you are a business owner – act like one. … and lastly – best of luck.
Moving Box Rentals | May 4, 2011 | Reply
There are lots of realtors out in the marketplace so learn what differentiates you from the rest and focus your marketing on what sets you apart. Helping clients (both buyers and sellers) the benefits of sustainability and the importance of eco-friendly homes and their impact on sale price is important.
Don’t look at other realtors as your competition, but as potential partners. Network with as many of them as you can. First, you can learn from them. Second, there may be times when they have a client that doesn’t fit their expertise and they can refer that client to you (and vice versa).
Jerry Bresser | May 5, 2011 | Reply
Find a good source of great scripts and memorize each one until you ‘own’ them.
The single greatest reason why new agents fail (83% within 3 years according to NAR) and most experienced agents fail to reach their production goals is that they don’t learn what to say fast enough to survive, or completely enough to reach their potential.
When you can say the right things in the right way at the right time, you will find more listing prospects and you will convert more leads to listings that sell.
Jerry Bresser
John Perkins | May 6, 2011 | Reply
Some great tips these agents offered up. Seems to have everything from honesty, to numbers game, to technology.
Ricardo Bueno | May 9, 2011 | Reply
My advice:
- Own your domain,
- Invest <$100 in hosting,
- Buy a premium WordPress Themes <$80
- Make two lists: 1.) Everything you know about real estate, 2.) Things you don't know
- Make a list of all of your passions and hobbies
Start loading your website with content. Everything you know about Real Estate – think of it like this… You're building a Real Estate F.A.Q. page for anyone who comes to your site. Then, start writing about your passions and hobbies in your local area.
Do this fast and often. It's not about selling at this point. It's about helping, educating and connecting first. Selling comes later. You'll start building a community of local readers with whom you share a common interest.
JessieHanz | May 12, 2011 | Reply
Actually, I am one of those newbies in the real estate industry. Glad I came up into this post, thanks for the tips folks. I really learn a lot from your advice.
Paul Zubrys | May 12, 2011 | Reply
If you plan on working with buyers, learn your market intimately. Become an expert on everything a prospective buyer will want to know about the neighborhoods in your market. Don’t spread yourself thin. Stick to your market and refer buyers who are outside your area of expertise.
Sullivan County NY Real Estate | Jun 4, 2011 | Reply
Find a broker who has a good training program. Knowledge is power. the earlier you learn it, the better.
vimcent La Fiura, Broker | Jun 8, 2011 | Reply
Best advice to get a top notch mentor and have him/her coach you! Here is a great article about real estate mentorship.
http://www.mytorontorealty.com/blog
Nick Evans - We Buy Houses in Denver | Jul 19, 2011 | Reply
I think it really depends on what you like doing. Figure out where you like being. For me – buyers are a lot of work. I would rather work the listing side every day of the week!