Ultimate Guide for the Real Estate Agent Newbie

Renae Virata | October 19, 2015 | Best Practices

Building Real Estate RelationshipsYou gotta love ’em – the real estate  newbie. They’re so eager, so hopeful…and so green. All of you real estate pros have been in their shoes at one time, so we culled the best advice from some of you out there to create our “Ultimate Guide for the Real Estate Newbie.”

  1. Put Your Whole Heart into It. It’s important to put everything you’ve got into your real estate career, so do something real estate-related every day. Start a local Google Alert for your area, real estate or otherwise. It’s good to know what’s going on in the industry as well in your neighborhood so you can truly be an expert in your space and share that with your client. It’s also a great way to come up with new and interesting marketing tactics and partnerships that may serve you well for leads.
  2. Lead Generation is #1. If  you aren’t generating leads, you won’t get a (good) paycheck! It might seem like you have a million things on your plate (and you will!), but lead generation should top your list of priorities. The faster you realize this, the more quickly you will succeed.
  3. Find a Mentor and Set Some Goals. Seek the advice of experienced agents in your office. At your brokerage, find an agent who is rocking their business and ask them to mentor you. You can practice scripts, go over goals and exchange ideas and questions you might have. They can also be a great guide for goals you set on number of contacts to make, commissions to shoot for and the like. If your brokerage offers structured training programs, take advantage of them.
  4. Start Marketing Early. Don’t worry if your website, blog, Facebook page and other online portals aren’t perfect – just go for it. You’ll have plenty of time to tweak them along the way. Start networking and leaving business cards at local businesses whenever you are out. Don’t hesitate to start partnerships with businesses who share your audience to start spreading the word outside of the industry.
  5. Make Sure You Know These Things Before Joining a Brokerage:
    • What is the curriculum for training?
    • What kind of mentorship is offered?
    • What does mentorhsip look like? One-on-one coaching? How often?
    • Is desk time mandatory?
  6. Make the Most of Desk Time. If you do desk time, make it worth your while. You probably feel like you’re wasting time answering other people’s calls and telemarketers, but you’ll get a lot out of those calls if you pay attention to them and know what questions to ask.
  7. Stay in Touch with the Market. You’ll have tons of opportunities with your team alone to learn. Pay attention in mandatory meetings. Don’t be afraid to ask questions. Know what the agenda is beforehand and ask for a copy prior to so you can be prepared. Take notes and give your two cents. Be sure to on your broker’s tour every 8 weeks is sufficient for that.
  8. Gauge your productivity early and adjust as necessary. Here’s a picture of what non-lead generating time can look like each month: 32 desk hours, 4 meeting hours, 12 broker tour hours or 48 hours per month. Much of this you have to do, so be sure you make the most of that time. Come prepared, take notes and be ready to take action after.

So, in summary, if you want to make money as a real estate agent:

  • Make the most of your time.
  • Focus on generating leads.
  • A.B.M (Always Be Marketing).
  • Don’t be afraid of the telephone.
  • Do everything you say you’re going to do, when you say you’re going to do it.
  • Represent clients like they were your mother.
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Renae Virata