User10966_3_t Randy L. Prothero - Hawaii REALTOR®
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Don't KnowOne of the issues I run into with new people in our business is they many times are so green, they do not know what they don't know.

It is dangerous to enter this or any business with little to no training and blindly head out.  If you are a new real estate agent or a new loan officer, let me give you a couple of tips that may save you a world of hurt.

  1. Find a good company and broker to hang your license with.  Find someone well established in the business who offers additional training.
  2. Budget money for training.  Take industry training and designation classes.
  3. Find a top producer and try to team up as either their assistant or at a minimum have to do you first several deals jointly.  Splitting half of the commission with them is a bargain.  They will give you credibility with your clients, protect you from yourself and help you learn the business while making money.  They will also get you making money faster and stronger than if you attempted it on your won.
  4. Join an established sales team if possible.  This is a great way to build a business without having to spend all the resources required up front for marketing and infrastructure.

My number one tip is please do nothing involving a client or a transaction without your broker or an experienced agent looking it over first.

Remember if you are new, you not only do not know everything you need to know, you most likely do not know what you don't know.

I see this as a huge problem for many new quality agents coming up.  Many will not make it; but could have under the right conditions.

Good Luck and Good Selling!

 

13 Comments on Know What You Don’t Know!

Great advice, the schooling is just short, it only gives a license to learn!!!

10/05/2007 03:17 PM by Debra Siglin REALTOR®,GRI,ABR (Miller and Company)


Amen!  We really really really need a required apprenticeship period in this industry.

10/05/2007 03:18 PM by Leigh Brown Charlotte NC Broker/Owner (RE/MAX Signature Properties)


Randy, I couldn't agree more. All new agents need to seek out training and assistance. Get a few deals under your belt before you go it alone. It will save you a lot of time, effort and mistakes.

10/05/2007 03:22 PM by Bryant Tutas-Tutas Towne Realty, Inc


Randy, this is an outstanding post.  I clearly remember how lost I felt my first year, and that was with a "training agent" to ask questions.  It's such a huge responsibility we're taking on - the classes we take for our license don't come close to what to expect  on a daily basis.

10/05/2007 03:27 PM by Kris Wales-Macomb County MI real estate -Ask me about buyers agency in Michigan (RE/MAX Advantage 1, Inc.)


Randy, great post. If you can find an office that gives training that would be great. I had to fall a couple of times before I started taking classes. 75 hours gives you a license, education gives you a livelihood.

10/05/2007 03:42 PM by Maria Couto,ABR,CRS-Berkeley Heights & Long Hill Real Estate Homes for Sale (RE/MAX Classic Group-Berkeley Heights Realtor For Sale/Sold)


Randy - Good advice. One thing about getting a real estate license....even though you have a license you don't really know how to sell anything!

10/05/2007 03:51 PM by Gary Waters -Real estate agent Viera Suntree Melbourne and Rockledge FL (Century 21 Baytree Realty www.moving2brevard.com)


Oh yeah - great thoughts, but in smaller communities the extra training is difficult to come by with 2 or 3 persons in the office.  Thank goodness for AR

10/05/2007 03:54 PM by Joan Snodgrass Tri-Lakes Realtors, Shell Knob, MO (Tri- Lakes REALTORS)


Much of what you recommend should be made into law. When I was a new agent, my wife had been active for several years so I didn't need to affiliate with a coach, but we had 2 different MLS. She had no experience in the other, so for the first 2 listings I did team with a coach. 50% is cheaper than a lawyer any day.

10/05/2007 03:56 PM by Jim Little, Your Sun City Arizona Realtor (Ken Meade Realty)


Debra - In our state the pre-licensing school on teaches how to get a license, how to keep a license and some general real estate knowledge.

Leigh - I think it is required if you want to succeed.

B.B. - So true

10/05/2007 04:03 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy - I'm a new agent (a little over a year) and if I had stayed with my first brokerage I would have gone under, and fast! Yes, they had some training classes, but no support afterwards.

When I got my first contract my team leader was no where to be found. She was always out recruiting or in her office with a sign on the door saying Do Not Disturb. I asked 3 top producers what to put where and got 3 different answers.

I finally put the thing together as best I could and submitted it. The listing agent from a totally different agency called me and asked me if it would offend me if she went over this with me. I hadn't protected my buyer at all. I think it's a shame when someone from a different  broker has to take you under their wing and teach you! I will be forever grateful to her and have told her that since.

You don't come out of school knowing anything other than how to pass the test. We do need mentoring!

10/05/2007 04:03 PM by Linda Scanlan (A Fan of AR)


Kris - I got my license back in the early 1980s.  My first day on the job they put me on floor duty in Waikiki, with no other agent there.  I was clueless.  The liability that broker took on was insane, not to mention me.  When I re-entered the business a few years ago, I had training as a huge part of my business plan.

Maria - Very well put.

Gary - You are so right, a license by itself does not qualify you for anything.

10/05/2007 04:08 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Joan - Than it is even more important to take training through the Board of Realtors.  After taking an orientation classes offered, the GRI series is a great place to start.

Jim - Amen to that.  50% is much cheaper than a lawyer.

Linda - Thank you for sharing your experience.  It is more common than most would like to admit.

10/05/2007 04:12 PM by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes)


Randy - a great broker and a great company are so important - thanks for sharing

10/06/2007 01:22 AM by Central Oregon Real Estate | Thesa Chambers, Broker (RE/MAX Sunset Realty La Pine)


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Real Estate Agent: Randy L. Prothero  - Hawaii REALTOR® (Century 21 Liberty Homes)
Randy L. Prothero - Hawaii REALTOR®
Mililani, HI
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Century 21 Liberty Homes

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