Hello Newbies! I really enjoy sharing my knowledge with others, and there is so much I wish I had known when I first got started in real estate. There are so many aspects to this business and it can certainly be a bit overwhelming at the beginning when you don’t know where to start. I hope my answers to these question will help guide you!
- What do you wish you had known the very first year you were in the business that cost you lost business or income?
First, I wish I truly understood that when you are interviewing with brokerages, you are interviewing the brokerage, not the other way around. Unlike in a traditional job, the broker will make money off of you! Do your research, interview multiple brokers and find the best fit for you! I didn’t understand the team philosophy when I first started. In fact, my brokerage said something along the lines of “you’re a go-getter, you don’t need to be on a team”. Consider joining a team when you first start. You will learn much more quickly this way, even if you are sacrificing more of your commission. Also teams sometimes give leads. When you’re first starting out a high commission split lead is better than no lead.
- Was there ever a time you questioned whether you had made the right choice of being a real estate agent? What events caused you to stick with it and succeed?
Six months into my real estate career I was freaking out. I had been doing everything I was told, prospecting for leads everywhere I went, and still didn’t have a sale under my belt. Ultimately, I ended up joining a team where I learned a ton, and also started making a living in real estate.
- What are 3 things you have learned along the way that have positively affected you and helped improve your real estate business?
Never be afraid to move brokers. One broker may be the right fit for you today, but you may find another broker makes more sense down the line. Prepare that you will change brokers during your career and develop your own systems that can travel with you. Create one email that is not tied to a brokerage company that you can use throughout your career.
It’s all about the follow up. When I first started, I would call a lead once, email them, and maybe text. If I didn’t hear back, I would simply assume they weren’t interested and forget about them. If you want to be successful in this business, you must be willing to follow up frequently. I was recently told “keep contacting the lead until they tell you to go away.” Many new agents believe they are bothering the person by continuously contacting them. If that’s how you feel, change your mindset. Remember the value that you bring, and keep calling by being driven by your genuine desire to help this person.
Tell everyone you know you’re an agent, and keep telling them. When you first start in real estate, it’s recommended you send out a letter to your SOI announcing your new status as a real estate agent. Do this! Tell your hairdresser you’re an agent, leave business cards with the cashier as your buying groceries, don’t be a silent agent. 75% of my business comes from word of mouth, and the more you use your mouth to tell others about your occupation as a real estate agent, the more chances you have to make money!