What I Didn't Know Out of School Could Have Filled an Entire Encyclopedia Set

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Real Estate Agent with www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 228209

What I Didn't Know Out of School Could Have Filled an Entire Encyclopedia Set

 

This post is in response to a recent featured blog by Ken Patterson"Can you describe your biggest challenge regarding the jump to real estate?"  Like many of us, Ken is faced with the question from others about moving into the real estate profession - and what the challenges are for us.

Starting out in Real Estate

I will say that not knowing what I was doing straight out of school could have filled an entire A-Z encyclopedia set - if anyone remembers those! Street smarts vs. book smarts is what I equated the experience to.

With my first few transactions, I did my best and, thankfully, because I was driven, I was able to survive. It was an incredible challenge and I wasn't quite sure I was doing everything I was supposed to be doing until after my first or 2nd year in the business. I had a fantastic broker and learned a lot from him but, no real formal training once my feet hit the ground after graduating and obtaining my license.


 

 

Oh, how I wish I had had a mentor who was also a trainer - 'street' real estate is totally different from what I had learned in the classroom. Truthfully, all I needed were very basic lessons about the following. Being able to start in the business, mastering at least 3 of these topics, would have helped me focus more when I began in the business: 


Business coaching, training in real estate

  • Database/CRM - use (who to add, what to add, etc.) and maintenance of a CRM and using it properly for prospecting - DAILY!

  • Time management - more importantly, time-blocking

  • Doing open houses each and every weekend - and how to prospect those open house attendees, week-in and week-out.

  • Phone time at the office would be a MUST

  • Training, training and more training about working your sphere

  • Farming - it works if you do it the right way and consistently. I wish someone had told me that...and that it takes 6 consecutive months to start seeing results.

 

 

Hire a coachInstead, I hired a coach (NINJA training) who ultimately got me on the right track and I'm so very thankful for that!

 

To the list, I would now add building and maintenance of your own website - who to hire, who not to hire and what you need to know about an agent website. Also, in 2019, I feel that social media engagement is very important to our businesses - after all, your sphere is there, so should you be too!

 


 

 

Like Ken, we all have our experiences for which we feel we were lacking in the beginning and they're certainly not all alike. These were just key bullet points that I wish someone had taught me right out of the gate! I am thankful for having mastered these points and enjoy now working to improve each one of these, day after day. 

Happy Selling All!

 

© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | What I Didn't Know Out of School Could Have Filled an Entire Encyclopedia Set

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

OH, the CRM is THE one thing that I wish I had known I needed to utilize. I still struggle with that - did I add them, why don't I have a birthday (from clients over a decade ago). That is one thing that I teach the newbies that I mentor - right out of the gate! 

And, I can't tell you how many times I told people I didn't write anything down - "I just fly by the seat of my pants!" LOL I had no idea what owning a business was until about 5 years in - there is no flying by the seat of my pants now and EVERYTHING is written down...in a PLAN...with goals and deadlines... 😉 

Nov 16, 2019 11:11 PM #10
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Oh, I was talking with my first broker not long ago - we are still good friends with he and his wife and were out to dinner. The funny thing is that I had the 'everything that could go wrong,' scenario go wrong. I had sellers die (TWO of them and not on the same transaction!) and so many more things that now, seem so 'basic' to me but, at the time were BIG situations. I got through them all and am so thankful to be in a business that we have the opportunity to pick up those street smarts fairly quickly...and the lessons continue too!

Grant Schneider, I hope you're having a wonderful weekend! 

Nov 16, 2019 11:15 PM #11
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Thank you, Will Hamm and Ray says HI to you too! 

Everything we do is such a valuable lesson in this business and I love that we are able to continue to learn new lessons even after being in the biz for so many years too!

Hope your Broncos have a great showing tomorrow!!

Nov 16, 2019 11:17 PM #12
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Debe Maxwell, CRS
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Charlotte Homes for Sale - Charlotte Neighborhoods

Theory is great but, once applied, there's always a deeper meaning to that theory in our business! At least that's been my experience, Michael Jacobs! I'll take the street smarts any day over 'book' knowledge!

I always enjoy taking my continuing education classes from one particular instructor. He follows the outline of the class with stated changes in bullet points but, he tells stories that go along with the class/changes. I can relate so much better to those than memorizing theory. I think it's the inner drive to understand things inside-out and upside-down for me! LOL 

Nov 16, 2019 11:20 PM #13
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Many of my favorite agents were assistants first - they 'got' the business before they decided to get into it as agents, Lottie Kendall. I think you just pick up on EVERYTHING better and have a deeper understanding of ever aspect of the business.

Nov 16, 2019 11:21 PM #14
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Debe Maxwell, CRS
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Charlotte Homes for Sale - Charlotte Neighborhoods

It really is and boy, do I love that about this business, George Souto! Well said and spot-on!

Nov 16, 2019 11:22 PM #15
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Same here, Sheila Anderson and I think the drive to learn also helped - I wanted to understand every single thing before I did it so, that helped tremendously too!

Nov 16, 2019 11:23 PM #16
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James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Debe.

Like you I had no formal training when I started. I was shown a cubicle and that was it.  

Nov 17, 2019 01:32 AM #17
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Anna Banana Kruchten CRB, CRS
Phoenix Property Shoppe - Phoenix, AZ
602-380-4886

OMG I so remember those enclopedia sets. We had a library at our house and I spend many a hour scouring through those books.  Fun memory. I think it's true for most of us, we figured out what really needed to happen along the way through excellent mentors and education.  Ninja was my path early on, before I know there was actually a Ninja program! I was fortunate to have  great broker in the early years who was a top notch business person. He always said - do the right thing for your clients - always.

Nov 17, 2019 11:19 AM #18
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Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

The best thing someone suggested to me out of the gate was to get my GRI. It was invaluable to me in the days when only "special people" had websites. It taught me so much and I never looked back. Great list, my friend, and should be shared with new agents everywhere.

Nov 17, 2019 03:29 PM #19
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Wasn't that the way for many of us, James Dray? I was shown the way to my front door - my neighbor's home office was his office and mine was in my home as well! LOL

Nov 17, 2019 03:45 PM #20
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

OH, me too, Anna Banana Kruchten CRB, GRI, WLS! When I was sent to my room to stay (for doing something my mother didn't like), I would get lost in the encyclopedias! It was like a vacation in my own room and it took away the pain of not being able to be a part of the rest of the family!

I did have a wonderful first broker and you're so right, integrity was the lesson at every turn. Having been a nurse, that was so easy for me and I've never strayed from that lesson.

Nov 17, 2019 03:48 PM #21
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I'm laughing at the 'special people' comment, Mimi Foster - and now, everyone and their child has one! LOL

Like you, designations were important to me and I am so thankful for all that each of them taught me.

Hope you're feeling well. Sending you big hugs!

Nov 17, 2019 03:50 PM #22
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

LOL I did, Anna Banana Kruchten CRB, GRI, WLS - My mother was seriously, the strictest mom on the planet - she wasn't with my younger brother but, with me, it was over-the-top. That's one of the reasons I loved spending summers with my grandparents - life was 'normal' with them!

Nov 17, 2019 04:39 PM #23
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Tom Bailey
Margaret Rudd & Associates Inc. - Oak Island, NC

Well said Debe! I realized shortly after starting RE school, that I was going to need outside help. RE school only teaches you how to stay out of RE Jail 

Nov 18, 2019 04:05 AM #24
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Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Debe I had this very same conversation with a new agent in our office just last week.  The gist of it was that what she needed to know or wanted to know had not been discussed with her in a way that she felt had helped her.

For example, the biggie, how do I get clients?  What do I do if I have a prospective buyer or seller?  We talked about understanding the MLS and how to start using it to understand market data. All of this, it seemed, left her in awe of what she DIDN'T  know or hadn't been trained.  At any rate, I sort of gave her 3 "assignments" that would get her going in the right direction and will touch base with her again this week.

By the way, it's a good thing that we (Rainers) compiled our very own encyclopedias.  Where in the world would we be without them?  Great post Debe.

Nov 18, 2019 06:23 AM #25
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Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

It seems it never ends what we have to improve as well as staying on top of any deals we are handling as well.

Nov 18, 2019 12:00 PM #26
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Ken Patterson
TPR Properties - Rocklin, CA
Roseville Real Estate, TOP Rocklin Realtor

Debe Maxwell, CRS Hey!  Thanks for the shout out!  And, great topic as well as comments.  Have an awesome week!

Nov 20, 2019 11:40 AM #27
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Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I started off on a small team of women--there were four of us--and I did learn quite a bit.  I suggest that for new agents if financially possible.

Nov 22, 2019 01:29 PM #28
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Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

In my first year I was terrified of doing anything wrong so I just waited and watched and learned until I felt comfortable enough to handle a buyer transaction or two. My first listing was so exciting, and nerve wracking! 

Nov 22, 2019 01:39 PM #29
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