It okay to be new in any profession. Real estate industry is not an exception. The real estate market is a competitive one. A new real estate agent needs to have specialized knowledge, skills, and passion for becoming one of the best in this field. The National Association of Realtors report dated 2014 says that 87 % of all new real estate agents fail during the first five years of their career. This article tells the main tips on how to become those 13 % successful agents.
1. Your real estate agent career needs time
Give yourself a year or two. No one comes to the real estate market and becomes a superstar in no time. So be patient. This period is a difficult one. You need time to start finally making money and develop your network.
2. Create a value
Ask yourself why you choose this profession? We are sure you had reasons. And it is not just money. It is never should be just money. There should be a value you bring into the market. Understand what can you exactly offer your clients and what makes you stand out of the crowd. Be motivated and passionate. Believe us; it is easy to see that person love what he or she does.
3. Maintain your budget
So now you now that it takes some time to develop your network and referrals. However, you need money to cover your expenses, including professional and personal. Remember that you earn money only when you sell. When you are new, you cannot expect to have may transactions. Meanwhile, you have to invest in your career, pay for training, licensing, real estate broker fees, and marketing expenses.
4. Make Mistakes
You are a new one, and it is the right time to make mistakes. It does not mean that you have to do your work poorly. No way. However, you should take risks. Many people afraid to take risks and stay at one point for years. Although you are a young agent, so you need to get your own experience. Experience is impossible without mistakes, and mistakes make you learn something new. The only person that makes no mistakes is a person that does nothing at all.
5. Choose the right brokerage
As a new agent, you will need to work under the supervision of a broker during an established time. This step is an important one in the agents` career. Make the right choice where to hang your license. So, you may opt for a national brokerage or local boutique brokerage. Both options have advantages and disadvantages. Do your homework and study them carefully as you will spend a few years in one of them. It is smart to use this time correctly.
6. Working on weekends is fine
Be ready to work on weekends when your clients available. Yes, it is essential to maintain a work-life balance. However, if you are ambitious, passionate, and want to succeed, then you need to make a choice. At least, at the begging.
7. Be a full-time real estate agent
Many new real estate agents working in the brokerages prefer to work there on a part-time basis. However, we advise you to dedicate all your time to the business. Your full involvement and commitment will bring good results much sooner.
8. Equal attitude
All your clients are equally crucial despite the transactions costs. All your clients matter. It will help you to build a solid reputation.
You need to market yourself; otherwise, no one will ever know you. For sure, marketing is impossible without investment. Then how market yourself when it is just the beginning of the career? There are some low to zero money options. We are sure that you have a social media account. Tell the whole world that you have received a license, let everybody know about this essential milestone.
10. CRM is principal
Top agents say that they cannot imagine their day-to-day activity without Customer relationship management. This system helps an agent to work smarter, not harder. In a nutshell, CRM assists in building solid relationships with clients, which is crucial in this field. There are many CRM systems available on the market. Do your homework again and pick the best one for you.
It is a point that an agent should not only search for new clients but also maintain good relationships with the former one. CRM system is the one who helps an agent to do it right.
11. Never stop learning
We are sure that any professional is someone who never stops learning and improving. Even when you will become a professional, you still have something to improve and something new to know. For example, negotiations and communication skills. Study the real estate market on a daily basis.