When starting my career in Real Estate in the early 90’s I was told to make sure and have at least 1 year in savings to start my new venture. I ended up selling my first property after 9 months of being in the business, 2 companies later and taking 3 unsaleable listings . After blowing through all my savings and spending it on senseless real estate tools I became frustrated. My biggest mistake was starting out with the wrong company, depending on floor time and most of all spending my hard earned cash on real estate products that I never used.
Once I was connected to the right company who truly did value me, my career took off and then I knew that I was definitely in this for the long haul and I truly love the business. It was not long before I grew, 3 buyer’s agents, 2 transaction coordinators, Jackpot, I hit the big time. My second year of real estate I listed and sold 67 properties.
Although I do not actively sell (non-competing broker associate/trainer) I still generate many leads, recruit, train and manage, I do what all of you do except go out on appointments with customers. My appointments are with associates that I work with and new and seasoned potential recruits, just like you I have to sell these people.
Hope you find these tips useful……..
Take your time and interview the companies that you are interested in. Remember they are lucky to have you so make sure they offer the tools and services for a long and successful career. Don’t rush to join a company unless you have read the policy and procedure manual and understand it thoroughly. It’s not always about the commission, look at the overall picture meaning training, services such as listing coordinators, transaction coordinators , marketing, etc. etc. the Company’s Value Pack!!! Save yourself a lot of aggrevation and DON’T JUMP AROUND. In my first year I had worked for 4 companies trying to find my real estate home. Think about all that business I probably missed.
Think about the image you want to portray, create a mission statement and a memorable tagline. For me “Specializing in People” has been with me since day 1. Your designs for your business cards, ads, farming tools should be uniform. It gives a professional look and is consistent once exposed to the public it becomes familiar to them and consistency is extremely important in our business. Think of Burger King, “Have it your way!”
Work your sphere hard. When putting your sphere together or updating your sphere, think about schools you attended, the previous employers you had and get your family involved. Use their address books, your address book, heck I got the phone book out just going through names helped me remember all the people I knew. I sold one of My high school teacher’s house, Winn
Dixie associates houses( I worked for Winn Dixie for 12 years), People I went to high school with, my children’s friends parents. I could go on and on. Don’t forget about theworld-wide referrals, a lucrative referral business can keep you up and running. Your sphere is extremely important to you. Court them, love them, THIS WILL HELP REMIND THEM YOU ARE REAL ESTATE.
Watch who you keep company with. Your top producer’s, broker’s, trainer’s and mentors are who you want to be around while working. Invite them to lunch, to your first listing appointment by chatting and picking their brain this will help you along in your career.
Your business is what you make it, another words, you can make as little or as much money as you want. Real Estate is a numbers game, plain and simple, the more contacts you make the more sales you will achieve. PROSPECT, PROSPECT, PROSPECT, NETWORK, NETWORK, NETWORK and TRAIN, TRAIN, TRAIN!!!!
Be consistent in your marketing, its better to farm fewer homes more frequently and be consistent than have the public receive a glimpse of what you can do for them on occasion. Just like a movie star or rock star you have to be in the public eye.
If you are new, take someone on a listing appointment with you. It’s better to recieve 50% of something than receive nothing. I am not going to say by going alone you will not get the listing but increase your odds and take someone experienced at the same time learn something by allowing them to do the presentation and you service the listing. If your production isn’t where you want it to be or if you are not getting the listings on your appointments, take a top producer and see what happens.
Use a buyer broker agreement and a service pledge, “Here is my commitment to you all I ask in return is a commitment from you. “ Take the time and educate your customers, do what is right, don’t forget to remind them you can show any property in mags, mls, fs
bo, new construction, consult with them, get them excited. You should be excited as well afterall you are helping someone achieve the American Dream!!!!
Web Presence, really important, you can get a free website on http://www.point2agent.com/, now they offer national mls and a network of over 140,000 real estate professionals. I have used every level and currently use the free version. If you type in Daytona real estate in yahoo, I am #3. You can purchase domain names through yahoo anywhere from 1.99 a year to 9.95, it changes daily, just create a yahoo id. Blog, Blog, Blog this has helped my placement on the search engines.
Prequalify your customers, really screen your leads, make sure the buyer is a buyer another words ask the right questions, get them approved for a mortgage and follow through every step of the process. With sellers, make sure they have to sell, not want but have to sell, pre-qualify them and ask them the right questions, be gutsy enough to say no to the overpriced, unsaleable listings. You are doing a disservice to the other sellers on the market, yourself, and your company when you market a property not worthy of your time, money and expertise.
I firmly believe this holds true, “ Fair business practices produced bad results, good business practices produces fair results , Excellent business practices produces good results!”
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Great advice, Midori, for new agents as well as those who have been in the biz for a bit but perhaps not finding the success they desire. Thanks for sharing.
Jeff