Mistakes Realtors Make Starting Out
Selling real estate is not an easy business. People who have ever been a part of a real estate transaction probably say to themselves “Well that didn’t seem so hard. Look how much money he/she made. I bet I could do that and make a lot of money!” The sole purpose of real estate agents is helping people buy and sell homes. People, that is the key word here. Those people (future clients) don’t just fall into your lap. A real estate career may start out slowly, but you want to avoid these mistakes when you are first starting out.
Not Prospecting Every Day
You might have been given a lead or two and have started out closing on a few homes. What happens when you no longer have any leads? Lead generation has to continue each and every week. What you prospect now, might not come to fruition for 30, 60, 90 days or at all. It might take months for that relationship you formed to pay off. You need to constantly add new people to your database and keep in touch regularly to keep those clients coming at a somewhat steady pace.
Not Keeping in Touch
A good agent stays in touch with their database (read potential clients) between 26-32 times a year. Excellent ways to stay in touch include a monthly newsletter, phoning your clients, writing personal notes, taking clients out for lunch, client appreciation parties, blogging. Staying in contact with potential clients will keep your name in mind when it’s time for a real estate transaction.
Not Having a Great Listing Presentation
The best way to get a great listing presentation is to attend listing appointments with your mentor or a seasoned successful real estate agent. Going to a listing appointment unprepared will not work out well in the end for you. You are competing for this client’s business, and not having a knockout presentation will make you pale in comparison to your competition. This is where that training comes in. You want to pick the brain of successful agents and know just what makes a good presentation.
Poor Time Management Skills
Time management does not come easy for new agents with a lot of time on their hands. It is easy to get distracted and not use your downtime wisely. You may have come from an office with an 8 hour day that was planned for you. This won’t be the case in a real estate office. You should spend this time thinking of a good marketing plan and prospecting new clients. Don’t let the extra free time get the best of you.
Ignoring Self Improvement and Training
You want to find a brokerage that provides ongoing training. Taking advantage of training is a must when you are first learning the business. Sales skills are not something that comes naturally to most people, it’s a learned skill. Reading self-improvement books and listening to podcasts can make sure that you are in the right mindset. You need to build up your confidence and accept the challenge of working hard to be successful in real estate. Pick up on opportunities as they are presented to you. Even though it might not seem like much in the beginning it will pay off in the long run.