I suspect many agents who joined the real estate industry over the past three years are now thinking that they got involved at the wrong time. Interest rates have gone up and the he number of transactions has dropped to half of what it was in 2004. But, there is no wrong time to be in the real estate industry, provided you have the desire and dedication to succeed.

It's important to remember that you don't have to do it on your own. Of course your broker should be a source of knowledge and encouragement, but there are many other ways to find strength in numbers, like participating here on ActiveRain. Another way is to team up with a lender partner, as I discussed earlier.

Today I want to discuss a "strength in numbers" success story that was told to me by Janet Houde, past President of the Santa Clara County Association of REALTORS®. Janet joined the real estate industry in 1978. Over the next three years, home mortgage interest rates rose from 9.63% to 16.63%. I'm sure many agents left the industry, but Janet achieved success by finding strength in numbers.

Janet teamed up with another new agent and they worked open houses together. They researched all the listings in the surrounding neighborhood. If the house they were showing didn't have the amenities a buyer was looking for, one of them would offer to show the buyer other properties in the area while the other stayed at the open house. Janet said that after fifteen minutes in the car, the buyer prospect usually became a client. Using this approach, they sold six houses during one incredible weekend!

Obviously this approach isn't a silver bullet. The basic concepts of real estate still apply.

One basic concept is area expertise. It's surprising how many new agents don't focus their efforts in any specific area. Take advantage of marketing meetings and broker tours to preview properties. If you don't have an open house, tour other open houses in your target area. Being an area expert takes some effort, but it gives you a competitive advantage over other agents who only glance at the MLS when needed.

Another basic concept is being able to determine whether a prospect is serious about buying a house or is simply fantasizing about a new home or looking for decorating tips. As mentioned earlier, it pays to team up with a lender or to have your own prequalification process so that you don't waste your valuable time. Spend your time looking for more qualified prospects rather than trying to convert poor prospects into clients.

Finally, have a plan in place to ensure your own safety. Working open houses as a team is always a good idea for safety reasons. If one of you leaves to show other properties, have a system set up to call each other a regular intervals just to make sure that everything is okay.

New agents often get the impression that everyone is a competitor and that is true to an extent, but as you can see here at ActiveRain, most agents are generous with their knowledge. Remember that you don't have to go it alone in real estate. Join Associations, attend local marketing meetings, indentify role models and mentors, form support groups with peers, and look for opportunities to find strength in numbers.

Have a great week!