Getting into real estate for the first time can be an exciting experience for new agents. The thought of helping people find their dream homes might be your idea of the perfect job, especially when you factor in the unlimited earning potential.
But the fact is, new agents can get in over their heads pretty quickly, which is why it can help to have some guidance, some mentorship.
If you’re a new real estate agent, here are a few tips to help you hit the ground running with confidence.
1. Find the Right Firm
One of the most important things you can do for your real estate career is to find the right firm. Not all real estate brokerage firms are going to be the same. That’s why you should do your research. Ask around. Join a Facebook group and ask members about their experiences with different firms. Make sure that the firm you choose has goals that align with yours.
2. Create a Business Plan
A business plan will help guide your actions as you start making moves in your career. It describes how you’ll run your business, specifically what tools you’ll use to run and market your business. For example, you might use social media to help bring in new leads. That should be one aspect of your business plan. Look up real estate business plan templates and come up with a business plan tailored to your goals and objectives.
3. Find an Accountability Partner & Mentor
When you’re first starting out in real estate, it can be a bit overwhelming. You might find it hard to complete the tasks you need to complete without the support of someone in the same boat as you.
In addition to an accountability partner, you’ll want a mentor to help guide you through your first few transactions. Typically, the broker will help you through your first two sales. But after that, you may be on your own (which can be scary for a new agent with limited confidence). Find a mentor (either within your firm or outside of it) that can help answer your questions and give you the support you need to be successful.
4. Brand Yourself
Branding isn’t just for companies. You’ve likely seen people creating their own personal brands for business purposes. Creating a personal brand gives you a sense of authority and makes people to trust you more. Think about who you want to be as a realtor and who you’re trying to appeal to (Gen Z, millennials, etc.). Once you hammer out those details, you can figure out how best to shape and present your brand to your community and online.
6. Use Your Sphere of Influence
If you’ve gone through training after being hired by a real estate firm, you’ve likely learned about the Sphere of Influence (SOI). If you haven’t, it’s essentially people you know – friends, family, acquaintances – that you can use to gather up some new leads. Keep in touch with your SOI throughout the year (at least 40 times throughout the year).
7. Make Lead Generation a Priority
Generating leads is an important part of almost any business. Without leads, you don’t have customers. That’s why you need to be a lead-generating machine. Use every tool at your disposal to generate leads – social media, paid ads, email, events, etc. There are tons of ways to generate leads. Do some experimenting to determine which ones would work best for your business.
Becoming a real estate agent isn’t easy by any means. You’ll need to work hard and put in the effort if you want to see real results. Keep the above in mind as you navigate the wonderful world of real estate and you’ll be equipped with the tools you need to succeed.