Starting a new real estate career
It is common for people considering real estate as a career to scour the internet with success tips and the research doesn’t stop, even after the licensing exam is passed. For most new agents in this era, part of their continuing education is online through blogs, news sites and magazines where the learn bits and pieces that make up their consciousness.
A common question is “do you have any advice for me as a new agent?” which is exactly a question asked on Reddit.com that offered an interesting array of advice from users.
Hints and tips for a new agent?
Lsop wrote, “I’m working on signing on with a Brokerage in Toronto Ontario. Are there and Hints and Tips that other Realtors might be willing to give to someone starting out? And you non-realtors, how would you say would be the best way to gain you as a client and, what are things that realtors do that annoy you?”
Right off the bat, this new agent is thinking of the best ways to serve consumers (and not annoy them) which is a good start. The advice on Reddit.com includes old school and new school advice, and none of it mentions Twitter, but the word “business” was used 19 times in the list of advice given to this new agent.
Floor time versus face time
ShortWoman noted that the new agent should take floor time as often as possible while Slidellian contradicted, advising to “think face time vs. floor time,” adding “I think it’s fair to say that you will add more people to your database by spending three hours getting out and meeting people and exchanging business cards and previewing FSBOs than you will in three hours of taking floor time.”
The business of business
Slidellian also advises to “lead with revenue,” and “Make sure you have at LEAST six months of expenses set aside.” Furthermore, Slidellian advises to truly commit to real estate full time, mind contact management closely, never stop reading, and be fair to yourself.
Learn short sales first
ShortWoman noted that agents should “always keep up on the industry and your local statistics,” and reminds the new agent that their “safety comes first.” She told the new agent to ask questions and “Learn how to handle short sales and foreclosures, and a traditional sale will be a piece of cake” and she makes the strong point that “more disclosure is always better than less.”
Shadow success, repeat
Unstoppable says, “Align yourself with a successful agent who’s been in the business for many years. Offer to help him/her out in exchange for lessons and assistance. They may even give you some of their excess business with you paying them a referral fee when they close. Your first year will be tough. Stick it out and listen to the experienced agents’ advice. Ask a lot of questions. Talk to everybody.”
What is your advice?
Knowing what you know now, what would you tell a new agent just starting in this business? It’s a down economy and agents are having to be quite resourceful, what would you tell an agent to focus on first? Tell us in comments what you would advise… new agents are Googling your advice as we speak.