Things I Wish I'd Known My First Year in Business
Tammie White offers a list of 9 things she wished she'd known when she first started in real estate. I couldn't agree more.
Some of these are new since I was first licensed in 1985, but #4 certainly isn't. I wish that my broker or any of the agents I knew then had given this advice. But...I'm fairly certain that they didn't know it either.
When we finished a transaction, the file went in the drawer and we forgot about those people! Just think of the repeat business we were throwing away.
My first broker did advise setting up a card file to keep track of new leads, but that was it for contact management.
If you're new - or if you've been at this a while and are still struggling - pay attention to Tammie's list!
Real estate has always been a passion of mine. I followed the market closely, even though, I wasn't in the business. It had been my desire to become a real estate agent when my kids got older.
When I finally took the plunge four years ago, I was in a totally new geographic area. No family or friends to help me get my feet wet in the first year. Not to mention, the market had already started to turn here. I decided to join a Keller Williams brokerage--primarily for the training.
Looking back, I wasted so much time in trainings that didn't move my business forward. KW focuses a lot on lead generation. Please don't misunderstand. I'm not suggesting that lead generation isn't important. It is. However, there are some things that should be in place to help you in your lead generation. That being said, below are the things I wish I'd known my first year in business.
- Develop a website - This is an absolute must. Remember
89% of home buyers begin their search on the Internet. If you don't have an Internet presence, they won't find you. KW offered a website but I didn't do anything with it until I'd been in the business for two years. Embarrassing right? It wasn't until I joined AR that I truly understood the value of a website. Then I built hundreds of pages. Google found me and now I am ranked highly for many of my keywords. Note: If your broker offers a website, don't use it. I spent a lot of time building up my KW site. Only to lose all of that work when I left. If you are tech savvy, you probably already have a Wordpress site. If you're not tech savvy, use one of the template sites like Realtysoft or Point 2 Agent. I just recently got a template site because of a broker change. But Wordpress is in my future.
- Start blogging - There is a lot of debate about whether you should use Activerain or Wordpress. Use both. Once again, if you aren't tech savvy Activerain is a great place to start. Google loves Activerain. Don't forget to blog on Trulia as well. Then develop a Wordpress blog as you become more tech savvy. If you decide to blog on AR, become a Rainmaker. Google isn't going to rank your posts unless you do.
- Learn about Search Engine Optimization (SEO) - This will be a must to build up your website and blog properly. When I started blogging, I really didn't know about SEO. I was writing and building up my website but I didn't know how do it in a way that would get Google's attention. You can learn lots here about SEO for free. If you have money to invest, take Katerina Gasset's SEO to the Top. You will be leaps and bounds above other agents after her class.
- Create a database and use a Customer Relationship Managment (CRM) system - This was a big faux pas on my part. You have to stay in the minds of people you meet and talk to about real estate. The only way to do that is to reach out to them. If funds are limited use a system that sends email postcards instead of direct mail. Then as your funds increase, start sending direct mail. Don't think this isn't important. It is. Without a good CRM, you are just spinning your wheels. It is a necessary part of being in this business. Put your database on a 12x12 (12 touches in 12 months). KW suggests a 33-touch. That's when a good CRM comes in handy.
- Find your Unique Value Prosposition (UVP) - This was very difficult for me. I couldn't figure out what I had to offer to buyers and sellers that other agents didn't. I found that UVP here. Find out what it is you do better than any other agent in your market and go for it.
- Find a niche - Don't think you have to be all things to all people. Maybe you'll find you're very good with first-time homebuyers, senior citizens, short sales or maybe a certain geographic area. Whatever it is, focus on that niche and know it better than any other agent in your area. Don't just say you're the expert, become the expert.
- Time management is essential - The answer is to block out a specific amount of time to do each task. For example, spend an hour each day building your website, another hour writing blogs and commenting, two hours calling clients, writing personal notes and sending emails. Starting to get the idea?
- Don't buy leads - Fortunately, I never made this mistake. If you do the other things listed above, you won't have to pay for leads.
- Watch your marketing dollars closely - If you're spending money on something and it's not bringing in business, do away with it. Track your return on investment (ROI) and make changes as necessary.
Building a good business doesn't happen overnight. I am filled with many regrets about what I didn't do early in my real estate career. Don't make the same mistakes I did. I am just now beginning to reap the rewards of consistent blogging.
I don't ever want to hear you say, "There were things I wish I'd known my first year in the busines."
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Tammie White, Realtor® in Franklin TNCell Phone: (615)495-0752Serving the Franklin, Brentwood, Nolensville, Spring Hill, Thompsons Station, College Grove, Leipers Fork and greater Nashville area. All information is believed to be accurate but is not warranted.
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