While it's relatively easy to obtain a real estate license, establishing and growing your business can be a difficult challenge! We have some important tips to help you launch your real estate career, gained from our own experience in helping new agents as well as top producers.
1. Join the right team. Look for a brokerage that will invest in your career and provide mentoring. While most real estate companies welcome new agents, not of all them will care about your success!
Also be ready to bring something to the table - such as ambition, a good work ethic, and strong integrity.
2. Plan and budget your business expenses. These commonly include error & omission insurance, MLS fees, marketing fees, broker fees, laptop or tablet purchases, office supplies, phone expenses, professional clothing, business cards, website, ect. You will need to invest in your business; do so wisely.
3. Keep excellent records. The bright side of all those business expenses is that many of them are tax-deductible if you itemize your income tax return. Keep your receipts, and keep a running log of your business expenses. Get the advice of a good CPA early into the tax year; don't wait until April to be surprised by what you can, or cannot, deduct!
4. Set specific goals and plan your workday. Devote a set number of hours each day to prospecting. Don't allow yourself to be discouraged when you hear "no." You'll hear that a lot; get used to it. It's going to take time to gain clients and earn referrals. Persistence pays off!
You should also have specific, reasonable goals that are attainable. Take the action that supports your goals! You won't get 5 new listings by dreaming about them; you must make the calls, send the emails, knock on the doors, hand out business cards, and communicate what you have to offer.
5. Establish your brand. Your brokerage might have a nationally-recognized brand, but your brand is your face, name, and reputation. You must be memorable and distinctive, and convey your unique value proposition. Your website, business cards, social media pages and marketing materials should present a consistent, professional image.
6. Associate with upbeat, successful people. Meet local business owners, mortgage lenders, accountants, movers, contractors. attorneys, civic leaders and charity groups. Take an honest interest in other people and what they do. Go to meetings and mingle. Build your own professional network.
7. Learn from the experts. Gather information from real estate coaches and marketing companies. Attend seminars, workshops and webinars. Read industry publications that keep you informed of market conditions, emerging trends and technologies. Stay involved and stay informed!
Another important tip: leverage your time to focus on income producing activities. There are many tasks you can outsource in order to free up your time, such as listing marketing, personal branding, social media, blogging, website creation and maintenance, SEO and more! At RealSupport, we have been helping real estate professionals succeed for 15 years! Contact us today for real estate marketing strategies and custom-tailored solutions.
Bonita Breit
Copywriting & Marketing Specialist
RealSupport, Inc.
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