How Not To Fail In Real Estate Your First Six Months

By
Real Estate Broker/Owner with Bayou Properties
https://activerain.com/droplet/4SkN

How Not To Fail In Real Estate Your First Six Months

Homes For Sale in Alexandria La

By the grace of God and your hard work, you managed to pass the real estate exam. With freshly minted license in hand, you stride into your new brokerage. After meeting the secretary and finding the bathroom (two important keys to success), you find your desk.

Now what? Did the real estate instructor mention that 85% of newbies fail in the first two years? Of course not! Only a fool would take those odds...

Well hello fool, take some advice from a fellow fool. The first six months are key to your survival. Here are some things that I wish I knew day one.

  1. Stop buying shit-- Now, as in right now. You do not need custom pens, calender magnets, t-shirts, or sponsor every little league team in town. Put the credit card down, you are going to need it to buy groceries for a while...
  2. Stay away from the office coffee drinkers-- Seriously, these guys and gals will drag you down. Would you take swimming lessons from a drowning man? Then why take real estate advice from someone who sold 3 houses in 2015?
  3. Don't expect to be fed- Brokers are there to hold your license, not give you leads. Sure most will offer something to get you started, but expect to generate your own leads. What happens to the baby birds that only eats crackers from the neighborhood kids?
  4. Develop and follow a daily schedule- Set aside 2-3 hours each day (I recommend early morning) to prospect for new business. Then have time for paperwork, appointments, and errands. No set schedule means you are a slave to whatever the day throws at you.
  5. "I don't know" is a great answer-- Rookies tend to compensate for their lack of experience by acting like they know everything. This is a great way to lose clients AND get sued. When stumped, say you are stumped then go find the answer.
  6. Accept that there will be bad days- Real estate practice is NOTHING like House Hunters. Deals blow up, "loyal" clients go with someone else, and some folks are just nuts. Learn to brush off the madness or find another career path.

We were all new at one point. And yes, most of us veterans had moments when we almost quit (I can think of three). Keep a positive attitude, follow a schedule, and learn from those who came before you. In no time, YOU will be writing a post such as this. Best wishes!

Homes For Sale in Alexandria La

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Searching for a Top real estate agent in Alexandria Louisiana? Need help selling your Pineville, Louisiana home? Either way call Doug today!

Doug Rogers

Broker/Owner

Bayou Properties Realty LLC

 

Bayou Properties Realty LLC

301 Jackson Street, Suite 201

Alexandria La 71301

(318) 613-1994

 Equal opportunity housing. Doug Rogers is a licensed real estate broker in Louisiana

 

 

 

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Re-Blogged 5 times:

Re-Blogged By Re-Blogged At
  1. Stephanie Leon | Miami Lakes Realtor® 06/11/2016 06:42 AM
  2. Lori Bergeron 06/12/2016 01:42 AM
  3. Lesley Wilson-VanGoethem 06/13/2016 02:01 AM
  4. Winston Heverly 07/01/2016 12:21 PM
  5. Bob Crane 07/05/2016 08:44 PM
Topic:
ActiveRain Community
Location:
Louisiana
Groups:
Active Rain Newbies
POSITIVE ATTITUDE for the Weary Soul
REALTOR LIFE
Real Estate Professionals
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Rainer
577,123
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

It looks very lucrative from outside, until you get in!!!

Did the real estate instructor mention that 85% of newbies fail in the first two years? Of course not! Only a fool would take those odds...

Jun 12, 2016 09:18 PM #71
Rainmaker
401,623
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Doug, this list should be read by ALL agents, not just the new ones.

I would add: Find a Mentor to help you through the first couple of transactions.

Thanks for sharing.

Jun 12, 2016 09:19 PM #72
Rainmaker
281,718
Nancy Robinson Ranked #6 in MI
Century 21 Town and Country - Royal Oak, MI
#11 Century21 Realtor in the US, #16 in the World

The entry level to thisprofession is too low for most folks to succeed.  I maintain  "easy in easy out"  is not a good thing for any  career. 

Jun 12, 2016 10:03 PM #73
Rainmaker
102,978
Alicia Utz
EXIT Realty Associates - Lorton, VA
REALTOR & Military Relocation Professional in NOVA

The reality -- plain and simple.  Thanks for sharing!

Jun 12, 2016 10:19 PM #74
Rainer
226,260
Robert Hicks
United Country River City Realty - Savannah, TN

Solid - Basic- Truth-... Stay focused and keep getting "no's",,,the "YES'S" will come...

Jun 12, 2016 10:40 PM #75
Rainer
108,481
Paul Weese
Colorado Group Realty - Steamboat Springs, CO
Steamboat Springs Broker and Outdoor Enthusiast

Great post, and some advice I still live by.  

Jun 12, 2016 11:53 PM #76
Rainmaker
101,524
Scott Lawson
America's Home loans - Santa Rosa, Petaluma Mortgage Broker - Santa Rosa, CA
Mortgage Broker FHA, VA, refinance or purchase

If you show this to upcoming examinees before they take the  test, brokers would likely have very few new recruits each year...

Great article...

Jun 13, 2016 12:38 AM #77
Rainmaker
307,716
Jeff Stevens
Berkshire Hathaway HomeServices New Mexico Properties - Las Cruces, NM
Jeff Stevens, Associate Broker

Great post, Doug. Where were you, and this blog post, when I was new in the business? Could have really used #1, man did I buy a lot of useless crap. And #6, that first deal that went bad was absolutely devastating. I almost left the business because of it.

Jun 13, 2016 12:38 AM #78
Rainmaker
283,571
Randal Jenkins
Coldwell Banker F I Gray and Sons Residential, Inc. - New Port Richey, FL

Be honest.  Tell your prospects that you are newer and that is why you answer the phone and will work so hard.  Make sure that you are mentoring under a seasoned professional with strong local real estate knowledge and sell your mentors knowledge and expertise.   In my case, I was able to thwart 3 potentially bad situations that my Broker knew about...one neighborhood, really nice but down wind of the dump and on certain days, foul smelling.   One commercial buidling...well priced....sinking.   And a potential buyer of a land and I learned that the street that the subject property was on did not have the utilities to handle a subdivision, in fact the rural street was not even on the 10 year plan to get the kind of utilites needed for a subdivision....who knew the county had a 10 year plan.  When I am interviewed I tell these three stories and how my mentor will help me help them.

 

Jun 13, 2016 01:59 AM #79
Rainmaker
1,540,527
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

I didn't know there were office coffee drinkers anymore.  I thought they went out with the market failure ten years ago!

Jun 13, 2016 02:59 AM #80
Rainmaker
1,178,046
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Real estate is not for the faint of heart. And even when you make it there will he lean times. Good advice you gave here, Doug.

Jun 13, 2016 06:25 AM #81
Rainer
23,250
Desmond Neoh
Weichert, Realtors - North Bethesda, MD
Your Area Specialist, Multilingual

Awesome tips! My favorite is #1 and #6!!

Jun 13, 2016 12:36 PM #82
Rainmaker
708,187
Peter Mohylsky. The Santa Rosa Beach Expert
PrimeSouth Properties - Santa Rosa Beach, FL
THE BEACH IS OPEN

Good advice for agents young and old.  Real estate drama is the bane of my existence which includes the coffee drinkers you mentioned in your post.

Jun 13, 2016 12:55 PM #83
Rainmaker
443,759
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

Also good to have either cash or income from another source for those first six months.  Some people like Lori Bergeron start out strong, but for most of us there's a learning curve.

Jun 13, 2016 09:52 PM #84
Rainmaker
62,274
Tere Rice
Allison James Estates & Homes - Temecula, CA
First Time Home Buyers, VA Buyers, Horse Ranches,

Here's one, don't waste your money on so and so's system. Use common sense when purchasing any thing I guarantee you won't need 5 agent for sale signs. Best investment OPEN HOUSE signs with your phone number do as many Open Houses as you can as often as you can helps get ypur sales rap down and mostly be authentic if you don't know say you'll find out and always follow thru. Educating the public is the best strategy. Know your business, taxes, sf $, schools in Calif. dictate prices!

Jun 14, 2016 06:55 AM #85
Ambassador
379,994
Karen Hurst
RICOASTALLIVING.COM - Warwick, RI
Rhode Island Waterfront!

I loved this post! There are so many things no one tells people when they are starting out, and this post is just the tip of the iceberg!  

Jun 14, 2016 10:27 PM #86
Rainer
304,570
Mihir Gandhi
First Team Real Estate - Placentia, CA
Real Estate in Placentia - North O.C. CA

Great post!  Stay focused and don't give up!

Results will come with hard work and over a period of time.

Jun 15, 2016 05:11 AM #87
Rainmaker
1,373,000
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Doug Rogers - Always love those folks who I think I will try real estate. I usually ask them if they have $20 grand to get them through the first year?  Most have no clue how tough this job is and what it takes. They just see all the glitz and glamour.

Jun 17, 2016 01:41 AM #88
Ambassador
4,669,915
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Solid advice Doug, I have seen so many make these mistakes, and the cycle continues.

Jul 05, 2016 08:41 PM #89
Rainer
289,633
Chris Lima
Atlantic Shores Realty Expertise - Port St Lucie, FL
Local or Global-Allow me to open doors for you.

Great post and advice.  It all seems so easy, but when you ask most people, it's like they are reinventing the wheel.

Jul 27, 2016 06:27 AM #90
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