Common Mistakes New Agents Make
With that freshly minted real estate license in hand it’s common to want to leap right out there into the real estate world and get started. Hey, we get it. We 100% believe in diving in head first … WITH the exception of being sure you do your research, and planing ahead enough to know the direction you’re going in. We’ve gathered up a list of common mistakes that new real estate agents face as food for thought as you get your feet wet in the best business around!
Keep in Contact with Clients
Have you heard the stat that 27% of real estate leads are never contacted? Best practices say to contact leads daily until you are either told they are not interested or they communicate they are interested in working with you. Once you know someone is interested in working together you can determine the communication channels and cadence that you communicate and keep front of mind. (Reminder: Don’t be afraid to spend money on marketing to get those leads!)
Even with your license in hand and your real estate classes behind you, you should never stop learning! Keeping up with the latest technologies, best practices and resources is essential to getting ahead of the curve! (Not to mention utilizing the latest technology helps ten-fold with everyday workflow).
Saying “Yes” to Everything
While that commission can be alluring, you don’t have to say “yes” to everything. If something doesn’t feel like great timing, or something in your best interest, saying “no” not only saves you from a sticky situation, but also allows you to have the time for better opportunities and connections in the meantime.
Making a Plan
Just like any business, starting a real estate business requires short and long term goals, planning where you will be getting your financing, projected financing and the tactical steps of maintaining your business. Planning out even the simplest marketing plan in advance, will also give you a baseline for how you will get clients. If you don’t feel comfortable writing out all these goals and plans yourself, don’t skip it - seek guidance from someone here at Parks Realty, a financial advisor or fellow agent. You won’t regret it!
While the real estate business does have it’s glamorous moments, you have to be prepared for the potential of months without an income from your real estate business. Be sure you are preparing ahead of time by setting aside money, having an additional side income, or know how you will borrow money to start your business. In addition to not making a profit - there’s also the “takes money, to make money” that you have to think about, as well. Plan, plan, plan!
Plan Your Home Tours
A small, yet mighty tip: ALWAYS plan your home tours ahead of time. Nothing is worse than having clients in the back of your car or following you while getting lost or stuck in unnecessary traffic. Sometimes the little things are the big things!
As a new real estate agent it’s easy to want the home you are trying to sell to be the absolute cleanest and most perfect looking that anyone has ever seen. However, you want houses to look lived in and just enough personalization that a family can easily picture themselves calling it home!
Burning Yourself Out
Diving in head first is exhilarating … and exhausting. Be sure to start off on the right foot in your new career by blocking off time for you and your loved ones to recharge. If you want this to be a lasting career, starting off with healthy habits is essential!