If you have your real estate license and have begun your career as a new real estate agent, it can be quite exciting as well as daunting. Many new real estate agents, however, never make it through their first few years because of a number of reasons. Working as a beginner real estate agent has numerous challenges and pit-holes. Nevertheless, if done right, it can be a very rewarding career.
There is no magic formula to being a successful real estate agent. As you embark on your new journey, you need to make sure that you set yourself apart from your competition. Knowing what tactics to pursue early on will help you avoid common novice mistakes and boost your career.
So, how do you position yourself to succeed in this competitive real estate industry? Here are some new real estate agent tips and tricks to follow.
1. Pick the Right Brokerage
As a brand new real estate agent, finding the right brokerage to sponsor you can help you start off on the right foot. A mistake most new agents make is focusing mainly on the commission split. However, you need to consider much more.
A good brokerage should have an extensive agent development program. This may include mentorship, training programs, referrals to new real estate clients, and other resources.
2. Develop a Business Plan
One of the most important new real estate agent tips is having a good business plan. Most people who are just getting into real estate become overexcited and immediately start focusing on getting a client.
However, you shouldn’t let your enthusiasm work against you. To succeed as a real estate agent, you should take time to develop a concrete business plan that will keep you stay organized and guide your steps. What are your short-term and long-term goals as a beginner and how do you intend to achieve them?
3. Have a Realistic Timeframe
As you create a business plan, it is important that you set a proper timeline. While it’s possible to make money fast as a real estate agent, it’s important that you give yourself a realistic timeframe to get the business up and running. Don’t expect to start getting regular business within the first few weeks or even months.
4. Find Your Niche
To be a successful real estate agent, you should specialize in one thing and not try to be a jack/jane of all trades. When you become an expert in a specific real estate niche, you will be able to sharpen your skills and provide superior service. This will, in turn, lead to satisfied clients and more referrals.
5. Prospect Consistently
As a new real estate agent, the main worry is usually how to get real estate leads. When it comes to finding clients as a new real estate agent, your best bet is prospecting consistently. At the outset of your real estate career, make sure you are spending a lot of time prospecting. You can’t just sit back and wait for real estate clients to find you.
Do all you can to get your name and brand out there. Put up fliers, cold call, attend community events, send emails, etc. Investing in real estate marketing material like personalized stationery, postcards, brochures, and business cards can greatly boost your real estate lead generation efforts as well.
The more consistent you are at prospecting for new clients, the more sales you will generate, and the faster your business will grow.
6. Be Active on Social Media
Nowadays, it’s hard to find someone who is not on social media. One of the inexpensive real estate agent tips to grow your brand and boost your real estate lead generation is to be active on social media. You should regularly share not only your listings but also valuable content like real estate articles.
Related: How to Engage More Clients on Social Media for Your Small Business
7. Set Up Your Own Website
Nowadays, most home buyers begin their property search online. As a new realtor, having a web presence can help you create a personal real estate brand and attract clients online. Your website should highlight what you do, your listings, contact info, social media links, testimonials, and more.
Related: Online Lead Generation for Agents: 7 Ways to Beat the Competition
8. Create Informative Content
Constantly creating valuable content for prospects is one of the most effective new real estate agent tips for generating leads. This may include infographics, podcasts, emails, blogs, YouTube videos, etc.
The more you help your real estate prospects, the more they will want to work with you. Apart from adding to your credibility, creating regular valuable content will help you to stay top of mind with prospects. When they need the services of an agent, they are likely to think of you first.
9. Network
Another good way to generate real estate leads as a new real estate agent is to network constantly. Every new person you meet could actually result in a future sale, either directly or indirectly.
You can build your sphere of influence in many ways, both in-person and online. For instance, you could get new contacts through family members, friends, mutual acquaintances, at community events, etc.
10. Nurture Your Existing Relationships
As you try to create new contacts, make sure you don’t forget to maintain the already existing relationships. Always keep in touch with your past clients and future clients. This can be done personally, through social media channels, or via customer relationship management (CRM) systems. For example, you could send them birthday cards or housing market updates. As a new real estate agent, this can make you stand out from most realtors in the market.
11. Offer Real Value to Clients
When it comes to building a successful real estate career, the best new real estate agent advice is to create value. When you focus on creating value for your clients and serving their needs, they will always come back or refer people to you. Always make sure you are providing the absolute best customer service to your clients.
12. Stay Educated
Every new real estate agent should invest some of their time and money into learning new things. Commit to sharpening your skills daily. Continued education will enable you to have a better understanding of different aspects of your work. This includes how to sell real estate, attracting real estate clients, real estate laws, local market trends, etc. Go to seminars, watch videos, listen to podcasts, read books, and read agent blogs.
13. Remember That Communication Is Key
Always respond to calls, emails, and texts from clients quickly and satisfactorily. One way to kill your business as a new real estate agent is to always take too long to respond to clients and prospects. Clients will avoid you if they think that you are unreliable.
14. Maintain a Budget
It’s important that you create a budget and stick to it. A budget will help you manage your cash flow and avoid spending on unimportant things. Since you only get paid when you close a real estate deal, being able to keep your spending in check is crucial.
15. Find a Mentor
As a new agent, having trusted advisors to guide you along the way can propel your real estate business forward. Try helping experienced real estate agents who are willing to provide you with guidance and support. Also, don’t be afraid to ask them questions.
16. Qualify Your Real Estate Leads
Not every lead is a serious buyer. To avoid wasting your time and effort on leads that are not ready to buy, you should be qualifying real estate leads before you work with them.
Mashboard is an AI lead qualification tool for real estate agents. It uses data and predictive analytics to accurately qualify real estate leads. The tool can also help you to target your leads with the right properties.
To learn more about our product and how you can use it in your lead qualification process, click here!
Related: These Are the Tools Successful Real Estate Agents Are Using
The Bottom Line
With a high failure rate within the first few years of business, new real estate agents need to be meticulous, dedicated, and willing to go the extra mile. The above new real estate agent tips can help you beat the odds and ensure career success.
With that said, remember that success doesn’t happen overnight. Building a successful career in real estate is going to take time. You’ll need to be patient and develop the right skills and acquire the best tools.