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Getting Into Real Estate - Advice For New Agents

By
Real Estate Agent with Amanda Davidson Real Estate Group Brokered By Real 0225221517

Getting Into Real Estate - Advice For New Agents
Getting into real estate isn't what you see on TV. You're entering into a business that will chew you up and spit you out if you let it but, it's also a business that's extremely rewarding and fulfilling. There's no better feeling than helping someone, especially when it's what is likely one of the largest investments they'll have. Here are a few things I wish someone had told me before I got into the business 10 years ago.

What do I wish I’d known the very first year of getting into the business that cost me lost business and income?

I wish I’d known to interview different brokers. I went with the first brokerage I came across and I wish I’d known to interview different places and ask about mentors and coaching availability. Taking the real estate course and passing the test teaches you very little if anything about how to run a real estate business. The first year was by far my hardest and I felt alone many times. It’s not about commission splits, it’s about finding a brokerage who has a broker or a team that is willing to mentor you and groom you to learn how to run a successful business. Don’t just hang your license with the first broker you come across.

 

Advice For New Real Estate Agents

 

Did I ever question that real estate was the right career choice?

There were multiple times in my first 3 years of real estate that I questioned whether or not I’d made the right choice. I absolutely loved real estate but, the sporadic income when you’re getting established can make it easy to question your choice. I took on some consulting projects to help supplement my income and for lack of a better term bet it all on myself. I didn’t leave an option for a plan B and that was intentional. If you love something and have a passion for it, no matter how hard it is to get established just keep going. If you never give up, work hard, and commit you will be successful.

 

What 3 things have I learned along the way that positively affected me and helped improve my real estate business? 

Be the agent that you’d want representing you – at all times. We all have bad days and it’s easy to interject that into your business. Easy is never the way you want to go when it comes to how you treat your clients. Put the interests of your clients first and truly be their fiduciary. Real estate isn't about sales, it's about relationships. The second you put a price on your integrity is the exact time it’s worth nothing. I learned this from watching my Dad run a successful animal hospital business for over 30 years.

 

Advice For New Agents

 

Don’t dwell on the negative - things are going to go wrong, a deal will fall apart, a client will run you into the ground, and you’re going to struggle. Whatever you do, don’t dwell on it. Think outside the box to hold a deal together, fire a client if they’re abusing you, and if you’re struggling have a pity party for a couple hours and then dive back in and focus on the positive. We become what we think. If I’m feeling negative I always go to one of my favorite quotes. When you change the way you look at things, the things you look at change ~ Wayne Dyer

You’re running your own business and need to treat it that way at all times. Make goals, know your numbers, and be willing to adjust if needed. Review all of them often, perhaps daily when you’re just getting started. QuickBooks is one of my best friends, I use it daily to track where my business is and identify where change is needed. If you don’t know your goals and numbers you don’t know what direction you’re headed in.

Advice For New Agents

 

Real estate is an amazing business but, like anything else you get out what you put in. Be willing to work every day and be the hardest working person in the room. Connect with a mentor you trust who can guide you through every aspect of real estate. You’re going to have a lot of questions! Step outside of your comfort zone and most of all ... never give up!

 

 

Posted by

 

Amanda Davidson Real Estate Group

 

 

      

 

AMANDA DAVIDSON  
l ASSOCIATE BROKER l  
l AMANDA DAVIDSON REAL ESTATE GROUP BROKERED BY Real

C  703.431.3755   |   O  855.450.0442  |   W  www.amandadavidson.com

A  1765 Greensboro Station Place Suite 900 McLean, Va 22102




Comments (21)

Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Love this post and I feel like you wrote from MY heart & head! I didn't ever hesitate because I had my husband's income but, I threw everything at my business, convinced that I was going to make it and show the world I could do so!  And, I love your take on how to treat your clients - that is exactly what I tell new agents...and be who you want taking care of your parents or grandparents!

I'm so happy you found your landing spot but, sad that you even had to miss a step by going with the first one you interviewed. I'm sure they're kicking themselves for letting you down!! 

Great post, Amanda!

Jan 17, 2018 02:24 PM
Amanda S. Davidson

Debe Maxwell, CRS since we connected here I've always felt like we think a lot of alike. I love it! You definitely showed the world you can do it and then some. Your passion always shines in your posts. Have a wonderful day!

Jan 18, 2018 10:30 AM
John Pusa
Glendale, CA

Amanda S. Davidson these are great list of advice's for new real estate agents.

Jan 17, 2018 02:29 PM
Amanda S. Davidson

John Pusa thank you for your comment!

Jan 18, 2018 10:31 AM
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

This is great advice, Amanda, and at the same time, it gives the reader a look into your personality and perseverance. No wonder you were successful.

Jan 17, 2018 02:46 PM
Amanda S. Davidson

Pat Starnes, Brandon, MS thank you! I really believe it's about always persevering. We all get knocked down no matter where we are in our real estate career but, as long as we get back up that's what matters.

Jan 18, 2018 10:32 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Amanda, this is great advice and enjoyed reading about your start and success in real estate.

Jan 17, 2018 02:51 PM
Amanda S. Davidson

Rebecca Gaujot thank you!

Jan 18, 2018 10:32 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Amanda, the real estate business is so much different than what is shown on TV - you got that right! I also agree with your advice about interviewing several brokers right from the start, it amazes me how many of us have missed that opportunity because we didn't know better. 

Jan 17, 2018 03:51 PM
Amanda S. Davidson

Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES it sure is. I do watch some of the shows just to be entertained at how far off they are from the real world :) That's one I really wish I'd known. You're right, so many of us missed that opportunity and I think that still happens regularly. 

Jan 18, 2018 10:34 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Many agents don't make the right choice at the beginning. I had support but no training which is much of the reason I became a trainer. I never want anyone to go through what I went through.

Jan 17, 2018 06:02 PM
Amanda S. Davidson

Debbie Reynolds no training is so rough. Since opening the office I've taken a step back to make sure that I have the time to train our crew. IMO it sets them up to fail the someone isn't on hand to train new agents.

Jan 18, 2018 10:35 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

So true about not dwelling on the negatives. It happens to all and you just have to move on and forget about some of the disappointments!

Jan 18, 2018 05:31 AM
Amanda S. Davidson

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 it sure does, not always easy but, best to just keep trucking!

Jan 18, 2018 10:36 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Amanda.  Many of our experiences starting out are very similar.

Jan 18, 2018 05:46 AM
Amanda S. Davidson

Gabe Sanders thank you for your comment!

Jan 18, 2018 10:36 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Amanda, you are SPOT ON, and love your words of wisdom!   You started at the bottom, and commend you for hanging in there.    It is tough when you start doing real estate, and the classes do not help you run a business, that is all learned along the way!   GREAT post.

Jan 18, 2018 08:05 AM
Amanda S. Davidson

Joan Cox thank you! Nothing like learning firsthand haha! I had zero clue what I was getting into after getting my license but, wouldn't change it. 

Jan 18, 2018 10:38 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Having you as a mentor would certainly benefit anyone getting into real estate!

Jan 18, 2018 10:28 AM
Amanda S. Davidson

Brian England thank you, that means so much to me. I have really enjoyed mentoring the new agents at my office. It's rewarding to watch them progress.

Jan 18, 2018 10:38 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Amanda S. Davidson,  You tell it like it is and so many of us could of started out better in the business if we had the right mentor or broker and got better advice from other.  But I always say "You learn from your mistakes"   Don't give up but take the time to talk to winners like you!

 

Jan 19, 2018 08:31 AM
Amanda S. Davidson

Will Hamm so true and learning from our mistakes is how we evolve. We all have a story to tell, that's for sure :) 

Jan 19, 2018 09:31 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

One of our managing brokers gave us good advice about 10 years ago - "real estate is a business of highs and lows, try to maintain your emotional keel somewhere in the middle."  We have remembered those words many a day. 

Jan 19, 2018 08:53 AM
Amanda S. Davidson

Debb Janes EcoBroker and Bernie Stea JD wow what wise words. I just took a picture of your comment. Will reference it when I feel my emotions aren't in the middle. That was great advice the managing broker gave.

Jan 19, 2018 09:32 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I think most new realtors think they will go work at that brokerage showing homes and get paid.  The fact is how to attract buyers or sellers? Where do you get your customers?

Jan 19, 2018 03:39 PM
Amanda S. Davidson

Very true Sam, an excellent observation. It's important to have a plan on how to attract customers.

Jan 20, 2018 12:10 PM
Robert Hicks
United Country River City Realty - Savannah, TN

"You’re running your own business and need to treat it that way at all times."

Thanks for sharing, great info here..

Jan 20, 2018 05:44 AM
Amanda S. Davidson

Robert Hicks thank you!

Jan 20, 2018 12:11 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Amanda S. Davidson - From beginning to end you told the truth with no fluff in between. The money may be sweet but it doesn't last, especially when you're starting out and one never knows when the market will dry up like it did not long ago with foreclosures and short sales. Plus, no employee for a company who gets a regular pay check would work as long and hard as we do without pay. We wake up everyday unemployed and when you do get paid, there are your own bills to pay.  

Amanda, you didn't sugarcoat anything in this post. I'm proud to know you and call you friend. 

Jan 22, 2018 06:05 AM
Amanda S. Davidson

Patricia Feager being a straight shooter is something I've always prided myself on. Not everyone likes it but, I know that I always tell it like it is and won't change that. You're right, no employee for a company would work as long as we do without pay. I am proud to call you my friend too, you're a class act. 

Jan 22, 2018 12:08 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Amanda

You have shared so many truths about this business for new and newer agents. There definitely can be tough spots but they can be overcome.

Jeff

Jan 22, 2018 07:44 AM
Amanda S. Davidson

Jeff Dowler thank you. I agree, just have to persevere when the going gets tough.

Jan 22, 2018 12:10 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Terrific market information..thanks for sharing and have an amazing week!

Jan 22, 2018 08:05 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Amanda S. Davidson - Reading your post as an expereinced agent, I would really have enjoyed working in your group. You and I think alike. I know I would be treated and mentored well. This is great advice and the people who work with you are so lucky to be part of your team. It is all about relationships. 

Jan 22, 2018 08:07 AM
Amanda S. Davidson

Sheri Sperry - MCNE® I have no doubt we'd have a blast working together. I've always felt like we are a lot alike from reading your posts. Your care for your clients and love for your family is something I really admire. 

Jan 22, 2018 12:13 PM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Great post, and I love your logo, love the colors and the style. Good advice for any new agent starting in the business. 

Jan 23, 2018 09:10 AM
Amanda S. Davidson

Thank you Nick & Trudy Vandekar, 610-203-4543 I appreciate your compliment! Made me smile.

Jan 23, 2018 11:28 AM
Shahar Hillel
Encino, CA
Mortgage Consultant, Loan Officer.

Amanda good morning.

This is some great information for new agents.

Have a great week.

 

Jan 24, 2018 11:30 AM
Amanda S. Davidson

Thank you Shahar!

Jan 24, 2018 12:21 PM