This post could be titled "What I Wish I Knew When I Got Into The Real Estate Business".
We all decided to enter the real estate business at some point in our lives. I doubt we were prepared for the work that lay ahead. We probably observed a successful Realtor and thought, "If THEY can do it, so can I!"
But if the truth were known, we didn't know what to expect.
Thousands of agents take the courses and licensing exam, obtain a passing grade, and think they are on easy street. They don't realize their education has just begun. Getting a real estate license is the easy part. The next is learning what it takes to be a success.
We were asked to give advice on the following questions:
What do you wish you had known the first year you were in the business that cost you lost business or income?
My first broker told my co-workers in order to "claim" a client, we had to "routinely and regularly" follow up with them. The definition of regular follow up was to contact the prospect at least once every other week.
They failed to tell me not to pester them! So every other week without fail, I made the call to "stay in touch", even though the prospect said they were months away from listing their home. After the third or fourth time of cheerily greeting them on the phone, the homeowner was tired of me calling.
"I TOLD YOU I WOULD CONTACT YOU WHEN I AM READY, AND I AM NOT READY!"
I'm fairly certain my "routine and regular" calls to "keep the client" cost me that listing. I SHOULD have learned how to establish client loyalty. Instead, I was so determined to get the business that I pushed a good prospect away.
Did you question whether you made the right choice of becoming a real estate agent?
Not really. There have been times over the last 30 years (when the real estate market crashed or I relocated) and had to start my career over in a new city. During those times I relied on other income to get me through the tough times.
What events caused you to stick with it and succeed? What are 3 things you have learned along the way that have positively affected you and helped improve your real estate business?
Above all else, put the clients needs above your own. Always come from an attitude of SERVICE. If you do that, success will come.
Adapt to change. If one segment of the market dries up, learn to shift your skills to another area of expertise. Find your niche and work it!
Always sharpen your skills. Realtors need to be counselor, therapist, home stagers, listener, advisor, marketing expert, lead generator, negotiator, salesperson and document processor, all wrapped into one. Don't take the bare minimum continuing education classes. Read, study, and continue to expand your knowledge. You'll be better equipped to serve your clients, and your business will thrive.
That's my advice to new agents or those who want to get into real estate. Many practitioners have shared their advice on the activerain platform this month. To read other articles on the same topic, links will appear in the comment section of this post Advice For New Agents Getting Into Real Estate.