What Should New Real Estate Agents Do?
So, you’re fresh out of real estate school and ready to embark on your new career. What should new real estate agents do? There is so much to do that you may not know where to start.
There are some foundational tasks you’ll want to complete to ensure you’re set up for success. Once you do some research, you’ll glean what to know as a new real estate agent.
Choose a Broker.
Now that you have your license, you’ll need to work under a broker. There are many brokers with a variety of business models. Some brokerages are franchises, while others are wholly owned. Training, commission splits, location, and reputation are all considerations. You’ll want to interview a few branch managers to find your best fit. Keep in mind you will have to pay for the privilege of working with them! This might be a certain percentage of commissions or a flat fee.
Order Business Cards.
One of the first things new real estate agents should do is get their sales collateral sorted. Order business cards with your company logo and a professional headshot. Photos on real estate business cards go a long way to building your brand and cultivating awareness.
Begin Spreading the Word.
Start with your social media feeds and announce to everyone in all your networks about your new career. The best way to start selling real estate is through your personal network.
Build Your Team.
Successful real estate agents don’t operate on their own. You’ll want to create a team of partners. Meet with a variety of lenders. You’ll want to have more than one, depending on the needs of your clients.
Find a great photographer. Professional photos will help sell your listings, so be sure not to skimp on pictures. If you’re not comfortable writing listing descriptions, hire a professional writer.
Remember that the pictures and description will be the first impression your potential buyers will see. Some other resources you’ll need include a home inspector, title company, contractors, remodelers, plumbing/electrician services, roofers, pest control experts, etc. Whom to know is just as (and more) important as what to know as a real estate agent.
Create Your Website.
In the digital age, it’s crucial to have a virtual presence where people can find you. Include a bio, current listings, and articles or blog posts that suggest you understand the market and community you’re selling to. The vast majority of homebuyers begin with their search online; be there for them.
Find a Mentor.
Find someone to look up to and emulate. Look for someone in your office who has a similar style, with more experience than you, and pick their brain. Try to set up a weekly coffee meeting or another opportunity to meet up, ask questions, and share ideas. There’s no need to reinvent the wheel. See what works for other successful agents and see how it can work for you.
When you are a newbie in the business, following experienced agents to see how they succeeded can be really helpful and inspiring. There are many experts ready to share their knowledge and experience with people who want to get started in the business. You can follow Tom Ferry’s tips for getting started in real estate. Though being a new real estate agent can be scary, having all the necessary information can make the experience less stressful and more enjoyable.
Niche Market.
Establish the area where you’d like to sell and learn everything you can about that community. You’ll want to position yourself as an expert about the neighborhood, schools, amenities, recreation, etc.
Create a Marketing Plan.
Once you establish your desired market, decide how you’ll market to that community. Digital marketing is inexpensive and can reach a broad audience. Leverage your existing social media networks and subscribe to industry-specific sites to grow your network. Print media marketing is also a powerful way to market your business. Flyers, ads, and items like magnets can produce meaningful results.
Set a Schedule.
Real estate can be a 24/7 job, so it’s essential to establish a schedule. Remember to maintain a work/life balance and create boundaries so that you don’t burn out.
On the other hand, since real estate is an individual endeavor, you’ll have to stay motivated and make sure you’re utilizing your time wisely. You won’t have a boss looking over your shoulder, and you won’t be punching a time clock, so you’ll have to be self-disciplined to be successful.
Establish Boundaries with Clients.
When you first get started, you’ll want to entertain any and all opportunities to gain clients and sales. You’ll learn very quickly that not all clients are created equal. Unfortunately, many people will waste your time and aren’t necessarily serious about buying or selling a home.
Don’t be afraid to turn clients away if you don’t feel like you’re a good match for your needs. While it’s hard to turn down potential business, you’ll be doing yourself a favor in the long run.
Figuring out what to know as a new real estate agent can be daunting. If you follow a plan and rely on others’ advice and experience, you’ll quickly learn what new real estate agents should do. Be patient, have perseverance, stay focused, and most importantly, have fun with your new real estate career.
Start connecting to a professional community that will move your career forward, helps you generate leads, and shines a spotlight on your listings. Visit Homes & Land to learn more.
