realtormag.com<\/a><\/span><\/p>\nWhen you\u2019re a brand-new agent, you may feel like you\u2019ve been thrown to the wolves. No one tells you whether you\u2019re making the right decisions for your business; it\u2019s up to you to chart your own path. Believe me, I\u2019ve been there. Now that I\u2019ve been in real estate for six years, I\u2019ve learned some important lessons in the formative years of my business that I hope will help you steady the ship that is your young career.<\/p>\n
Negotiate the Terms of Your Brokerage Contract<\/h4>\n
Most real estate companies will be happy to hire you right out of the gate. But some brokers may offer less favorable commission splits and other terms. You don\u2019t have to automatically join the first brokerage willing to hire you. There are a few things you want to find out first: How much of your commission will the broker keep? Does the company provide training? Will you receive lead generation support? What are the company\u2019s growth goals? Is there a well-thought-out plan to reach those goals? Don\u2019t be afraid to haggle with brokers. You can say, \u201cCompany A is offering me this. Will you?\u201d Being upfront about what you\u2019re looking for in a brokerage will help you avoid regret later.<\/p>\n
Look for \u2018Brushed\u2019 Leads<\/h4>\n
Real estate teams often use their CRMs to filter leads according to their readiness to buy or sell. Keep an eye out for prospective buyers who already have preapproval letters from the bank and sellers who have recently invested in home repairs. These are signs that they have prepared for a transaction and are ready to take action today. Unbrushed leads\u2014those who may be at any stage of the real estate process\u2014are more of a gamble. They may be noncommittal about buying or selling and could lead you down a rabbit hole and waste your time. You need more qualified leads at the beginning of your career so you can secure a few quick closings and start making money and earning referrals.<\/p>\n
Vet Teams Before Joining One<\/h4>\n
Ask team leaders and team members how many deals they\u2019ve closed in the past year. The answer will provide insight into whether you\u2019ll be busy and productive as a new team member. A team with low sales volume may indicate that it isn\u2019t generating enough business to justify the head count. Also, find out if a team employs support staff to handle incoming leads, schedule appointments with clients, and perform other routine tasks. This can help you get a running start cultivating business.<\/p>\n
Focus on Activities That Make You Money<\/h4>\n
You\u2019ll hear coaches say, \u201cWork smarter.\u201d That\u2019s shorthand for \u201cDon\u2019t misuse your time on stuff that won\u2019t make you money.\u201d Different tactics work in different markets, so you\u2019ll have to take that into account when deciphering which activities lead to actual deals in your business. For example, launching a door-knocking campaign to generate leads may not be as productive as checking property data to see which homeowners have received default notices. Those homeowners would probably have a more imminent need for your services. Likewise, calling on expired listings may be a better technique to dig up sellers than blanketing an entire neighborhood with direct mail marketing. Sellers of \u201cexpireds\u201d are probably still motivated to sell. Shoot at your target, not all around it.<\/p>\n
Pinpoint\u2014and Avoid\u2014Time-Wasting Clients<\/h4>\n
Vet prospects to learn whether they\u2019re just using you to get a sneak peek of expensive homes or test the market. Ask sellers where they plan to relocate after the sale and whether they have a specific price in mind for their property. If they can\u2019t answer the first part of the question and they give you an unrealistic figure for the second, they lack the motivation to sell. For buyers, ask why they want to purchase a home now and how soon they\u2019d like to move in. Then ask if they would be willing to speak with a lender first about getting preapproved. If they can\u2019t give you a timeline and refuse to consult with a lender, don\u2019t waste your time taking them on showings. I tell clients, \u201cIf you\u2019re motivated, I\u2019m motivated.\u201d<\/p>\n
Don\u2019t Expect Friendship With Every Customer<\/h4>\n
Don\u2019t take offense if your clients aren\u2019t inviting you to their backyard barbecues after you\u2019ve closed on a transaction together. While it\u2019s your goal to develop a strong connection with customers, keep in mind that these are professional relationships with much more at stake than friendship. It\u2019s your responsibility as an agent to stay in touch with your clients, so don\u2019t take it personally if they don\u2019t keep up with you and your life. Through social media or the occasional email or phone call, you can maintain this relationship in an unobtrusive, professional way. Undoubtedly, some agents do become great friends with their clients. But some clients disappear, never to be seen or heard from again\u2014even though you had good times while working together. It happens. Remember, you\u2019re in this field to make sales first, friends second.<\/p>\n
Charge Ahead in the Face of Failure<\/h4>\n
Nothing feels better than closing on a fabulous two-acre ranch-style property\u2014and nothing feels worse than having a client lose financing on a sweet high-rise condo. Counting your blessings and bouncing back from failure is the secret to your survival in this industry. I once helped a couple whose offer on the home of their dreams\u2014a short sale, no less!\u2014was beaten by another buyer. They made another offer on a different property that they liked but didn\u2019t love, and it was accepted. But then, the husband lost his job and financing at the last minute before closing. We all felt defeated, but we knew we had to keep going. Shortly thereafter, he was rehired at the same company, and the original home they wanted came back on the market. This time, their offer was accepted, and we ended up closing after this yearlong ordeal. You will fail, and you will succeed. Just because you have a fantastic month doesn\u2019t mean the next month will be just as good. And just because this month was horrible doesn\u2019t mean the next won\u2019t be better.<\/p>\n
Be Honest, Even If It Could Hurt a Deal<\/h4>\n
I had a young couple who were buying their first home. Their inspector said he found some old moisture stains in the attic. It hadn\u2019t rained in a while, so the stains could\u2019ve been old, and the roof could have been repaired since then. But there was no sure way to tell. I had to be honest and disclose this to the buyers, even though they had no budget for a new roof and the seller declined to make further repairs. It could\u2019ve ruined the whole deal. But in the end, my clients got the house, along with a repair credit from the seller. Imagine if I hadn\u2019t said anything, and my clients\u2019 attic flooded during the next big rainstorm. They could have come after my broker and me. Hiding facts and failing to disclose to clients what you know is one of the worst things you can do as an agent. Be professional and honest. Isn\u2019t that what you\u2019d expect from someone else?<\/p>\n
Read Original Article<\/a><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"
It can feel lonely when you\u2019re thrown into the real estate industry with no support. These tips can help you advocate for yourself and get a quicker start to your career. By Bill Giannini | Source: realtormag.com When you\u2019re a brand-new agent, you may feel like you\u2019ve been thrown to the wolves. No one tells […]<\/p>\n","protected":false},"author":14503,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4,47],"tags":[],"_links":{"self":[{"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/posts\/7422"}],"collection":[{"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/users\/14503"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/comments?post=7422"}],"version-history":[{"count":2,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/posts\/7422\/revisions"}],"predecessor-version":[{"id":7424,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/posts\/7422\/revisions\/7424"}],"wp:attachment":[{"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/media?parent=7422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/categories?post=7422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.virtuance.com\/member\/wp-json\/wp\/v2\/tags?post=7422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}