How to Build Confidence in Real Estate

By
Real Estate Agent with RLAH Real Estate AB95346
http://activerain.com/droplet/4YpM

The other day, one of my favorite blog buddies did a reblog that caught my attention - because it really bothered me!  The major thesis was that 67% of all Realtors felt a lack of confidence when it came to their work.  And that didn't surprise me. 

But their solution did.  It was a guide that seemed to be saying "Here is how to fake it till you make it." And while the post seemed to be aimed at new agents, there are plenty of people with older real estate licenses who can relate.

If you have confidence issues, you have competence issues.  And there is no short cut to fixing competence.  

It's all about mastery, and you cannot fake mastery.

If you want to hit the ground running in your new career, I have some suggestions that have worked for me and for agents I have trained:

  • You have to understand the paperwork, especially the three documents you'll need to have people sign - listing agreements, buyer agency agreements and the contracts used in your jurisdiction to make offers on homes.  If your company does not provide serious training in these basics, look to your local board of Realtors to see if they offer classes - they usually do.  If not, check with local title companies.  I've seen a few that put together a good analysis of the major documents. 
  • You have to know the territory, including the neighborhoods in your immediate market area and the inventory.  And you are not going to learn it sitting in front of your laptop looking at virtual tours.  You have to get out to see what's available, and you need to use your feet and your eyes! 
  • Never ever misrepresent your experience because sooner or later the client or prospect will find out you are brand new pea green, and if you've lied or exaggerated, they will dump you. I went to my first listing presentation at the home of a former colleague.  I'd previewed everything for sale, had a fabulous written CMA and marketing plan, and my broker came with me.  And, competing against a highly experienced neighborhood expert, I walked out with a signed listing agreement.  He knew I was new, but he also knew I was basically smart and competent - and well supervised.  You don't have to lie.
  • Never take credit for selling a colleague's listing! The authors of the reblogged post suggested that, in order to hide your total lack of experience, you emphasize the homes in their neighborhood that sold from your brokerage. Forget that you never set foot inside any of them.  If you are selling your brokerage as a group of agents who are experts in the neighborhood, that's one thing.  But don't leave them with the impression that you personally were responsible for either listing or selling any of these properties.
  • Newbies have some strong advantages! When I look at the new agents in my office, I envy their enthusiasm and energy.  They are soaking up knowledge from courses and their experienced colleagues.  They often have prior work experience that translates into real estate, and they have a ready-made sphere of influence from a previous career where they had a reputation for being smart and competent, and the people who knew them are willing to be among their first clients.  And they are not faking anything!  They are taking advantage of a unique advantage that they won't have forever!
  • Oldies need to keep up with changes.  Recently, there were major changes to our contract forms, and I realized I really needed some training.  I need to work hard to stay current with changes in technology and industry changes. Neighborhoods are changing as various corners of town are seeing huge renovations and new commercial development, and it can be interesting trying to keep up with inventory possibilities.  Learning never, ever stops in our business.  

If you have persistent confidence issues, you can solve them by seeking new ways to improve your basic skills.  If you know what you are doing, it shows, and you will be one of the 33% of agents who can walk into a listing presentation and do yourself proud. 

And you won't get there without mastering your craft.

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Ambassador
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Harry, and if you've done this before beginning your real estate career, you will have a leg up!

Dec 31, 2016 03:33 PM #116
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Chris Ann, I think it's the excitement and the willingness and energy to work hard.  I could use a dose of this!

Dec 31, 2016 03:34 PM #117
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Charlie, right you are!

Dec 31, 2016 03:34 PM #118
Ambassador
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

John, these agents are usually trying to cover up a complete lack of confidence, and they are fooling nobody.

Dec 31, 2016 03:35 PM #119
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Praful, those of us who have been around for a long time had a much shorter learning curve.  I would hate to jump in right now and have to learn it all in a few months.  Especially all of the contracts.  

Dec 31, 2016 03:37 PM #120
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Eva, something tells me you will have a terrific year.

Dec 31, 2016 03:38 PM #121
Ambassador
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Carla, experience has to be doing the right things correctly!

Dec 31, 2016 03:38 PM #122
Ambassador
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Nathan and Angie, now that is a smart approach to mastery.

Dec 31, 2016 03:39 PM #123
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Bob, thank you so much!  Love the pic.

Dec 31, 2016 03:40 PM #124
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Thank you, Chuck!  I feel honored.

Dec 31, 2016 03:41 PM #125
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Patricia Kennedy I missed this Featured Post -- it is awesome and well deserved . You should put this in the Sunday Post

Dec 31, 2016 04:25 PM #126
Rainer
395,106
Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH
CRS

One customer at a time, that's how its done. You win some and some you don't , just move on to the next

Jan 01, 2017 05:49 AM #127
Rainmaker
856,428
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Excellent advice, especially about experience.  I remember my first buyer client from an open house I did for another agent.  He liked my enthusiasm and I told him I was new but would help him find a house no matter what.  It worked and the next day he bought a home here during our all day work together.  

Jan 01, 2017 04:58 PM #128
Rainmaker
421,683
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Specializing in Brookside, Waldo, Prairie Village

Good tips!  I especially appreciate the comments about the enthusiam of newbies and their good ideas, a differant way of looking at things. Important to always behonest with clients as well--if you don't know, admit it and find out!

Jan 01, 2017 06:44 PM #129
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Jan, I wish they could bottle the new agent energy!  It would sell for a bundle after we've been around a few years - or decades!

Jan 01, 2017 08:34 PM #130
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Hannah, somebody else has to put it in a Sunday post!

Jan 01, 2017 08:35 PM #131
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Sham, if we do a great job, hopefully they will stick with us!

Jan 01, 2017 08:36 PM #132
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Mary, most of the newbies I work with are really honest with their clients.  They also have a great support system in the office.  It takes a village to raise a newbie!

Jan 01, 2017 08:38 PM #133
Anonymous
JOANNE OCHMANSKI

Great information. I am in need of a boost and this is a beginning. I know I need to research my area better than I do. I know it would help me a whole lot feel more confident. Thank you

Jan 03, 2017 08:17 AM #134
Rainmaker
745,298
Thomas J. Nelson, Realtor,CRS,e-Pro
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

Well I'm a huge proponent of competence & character but I did fake it until I made it in a few jobs without ever compromising ethics. When you are hungry and need to provide, you just dig in, work hard (and longer hours) to trim that learning curve. I did it by partnering with a senior agent who mentored me and allowed me to grow & learn quicker than had I been on my own. So there are ethical ways to fake it til you make it.

Jan 18, 2017 07:56 PM #135
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