3 Tips For New Real Estate Agents
Starting as a new agent can be intimidating and stressful. You’ll likely go through a whirlwind of brokerage classes, preparing marketing materials, drawing up a business plan, selecting vendors, and more. Here a few tips to help new real estate agents such as yourself out:
1. Don’t Overextend Yourself.
In the beginning, it’s tempting to dream about what your successful real estate business will look like. It can be equally tempting to spend hundreds or thousands of dollars setting yourself up with a high end website, blog, CRM, glossy magazine advertisements, etc. While I have no doubt you’ll be successful, it usually takes more than just hard work; it takes time.
Just as with a business, controlling your cash flow is perhaps the most critical aspect. Success often takes longer than we expect, and to be successful a lot of times you just need to survive and outlast your early failures. Consider less expensive items such as single property websites, which don't have a fixed monthly cost.
Bottom line: resist the temptation to plunk down $1,000 on a magazine advertisement or billboard; start slowly and save your money.
2. Find a Great Mentor.
When I first started, I worked for as an assistant for a small, one-man brokerage. Eventually, he let me partner on some of his deals, and this provided invaluable experience. Nothing can replace the actual experience of sitting in on a listing presentation or at an open house and watching a more experienced agent.
You absolutely don’t want your first experience with a listing presentation to be when you’re the presenter; listing presentations are too hard to come by and too competitive to waste like that.
Find a pro, and follow them, even if it means doing a lot of basic tasks in the beginning.
3. Get On The Phone From Day One.
It can be tempting to spend your time in the beginning writing plans and dreaming of success. I was definitely guilty of this! Instead, get your hands dirty as soon as possible, by calling friends and family members and personally letting them know you’re in the real estate business.
The sooner you start making calls, the faster you’ll get good at them. And the better you are at making calls, the more income you’ll generate. Sometimes, it’s as simple as that!