Tips to Jump Start New Real Estate Agents
By Mark Nash
Tip! Land, split and resold. Good points: Simpler than some real estate investments, with the possibility of great profits.
The first year in real estate can be rewarding for those that can set objectives, gather information to support and find resources to meet them. When a new agent that I coach doesn't have objectives, information or resources it's a red flag. Being a fresh face in a new career and office overwhelms the majority of we call the future of real estate.
With the growing ranks of new agents, the competition is getting tough. Do your new agents have the support from you, a mentor or your company to find real estate sales rewarding? Here are some tips to jump start new agents.
Set objectives through a business plan.
·Be realistic.
-Set attainable goals to motivate and reward yourself.
·Develop three-month, six-month and twelve-month goals.
-Look short-term the first year to minimize stress.
·Focus on closed transactions, either buyers or sellers.
-Remember buyer's turn into sellers in time.
·Create a marketing plan to develop yourself as a brand.
-Diversify your marketing to include Internet, print, and direct mail.
·Work smart and use good time management skills.
-Evaluate clients and office demands of your time weekly.
·Appreciate people and their personalities.
-Understand that selling or buying a home is a vehicle for people to interact.
-Gather information to position your self as an expert.
·Attend office caravan or tour every week to get an early view of new listings.
-Familiarize yourself with new inventory to share with clients.
·Participate in broker's tour each week to see other offices listings.
-Investigate new listings on broker's tour and with MLS hot sheets.
·Visit public open houses to see what buyers are saying and interested in.
-Understand first hand what buyers are looking at and their feedback..
·Research current market prices and how they contrast to previous years.
-Seek historical data and how it impacts market conditions today.
·Know all the details of the transaction process.
-Contemplate situations to appear knowledgeable to clients.
·Understand the importance of the Internet in real estate.
-75% of all buyers start their search on the Internet.
·Gather statistics on national, regional real estate trends.
-Learn the big picture, clients will ask you to interpret the future.
·Know your competitor strengths and weaknesses.
-Strategize exceeding real estate consumer's expectations in your market.
·Develop an interest in local building, zoning and planning agendas.
-Attend meetings to watch for decisions that could impact your clients.
-Find resources to support business objectives.
·Find a mentor in your office.
-Approach an experienced agent to share their cliff notes for real estate.
·Research low-cost training for floor duty, prospecting and lead generation.
-Contact Real Estate Agent board for training in weak areas of your business.
·Consider corporate relocation a fast track to developing new clients.
-Inquire about certification to receive incoming referrals.
·Give back to your community through non-profit participation.
-Discover the power of giving back to receive.
·Understand that your client pipeline is your future.
Tip! Foreclosures - while highly lucrative and one of the top income producing methods of real estate investing, the time and knowledge required to actively pursue such deals is becoming more difficult all the time.
-Communicate regularly with past clients who could provide future referrals.
·Network by meeting new people out of your office, family and friends.
-Join professional organizations outside of your sphere of influence.
·Accept administrative, marketing and technology expenses in your business.
-Budget for business costs from day one in real estate.
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