Dans The Online Dog Trainer

Every time I talk to someone about my business and career, it always comes up that “they’ve thought about engaging in property” or know anyone who has. With so many people considering getting into real estate, and getting into property – why aren’t there more lucrative Realtors in the world? Well, there’s only so much business to go around, so there can only be so many Real Estate Agents in the world. Personally i think, however, that the inherent nature of the business, and how different it is from traditional careers, helps it be difficult for the average person to successfully make the transition in to the Real Estate Business. As a Broker, I see many new agents make their way into my office – for an interview, and sometimes to begin with their careers. New REALTORS bring a lot of great qualities to the table – lots of energy and ambition – however they also make a lot of common mistakes. Listed below are the 7 top mistakes rookie Real Estate Agents Make.

1) No Business Plan or Business Strategy

So many new agents put all their emphasis on which Real Estate Brokerage they’ll join when their shiny new license will come in the mail. Why? Because most new REALTORS have never been in business for themselves – they’ve only worked as employees. They, mistakenly, think that getting into the Real Estate business is “obtaining a new job.” What real estate marketing tips missing is that they’re about to go into business for themselves. If you’ve ever opened the doors to ANY business, you know that among the key ingredients can be your business plan. Your business plan helps you define where you’re going, how you are getting there, and what it does take for you to make your real estate industry a success. Here are the essentials of any good business plan:

A) Goals – What do you want? Make sure they are clear, concise, measurable, and achievable.

B) Services You Provide – you do not want to be the “jack of most trades & master of none” – choose residential or commercial, buyers/sellers/renters, and what area(s) you want to specialize in. New residential real estate agents tend to have the most success with buyers/renters and then move on to listing homes after they’ve completed a few transactions.

C) Market – who are you marketing yourself to?

D) Budget – consider yourself “new agent, inc.” and jot down EVERY expense that you have – gas, groceries, cell phone, etc… Then write down the brand new expenses you’re dealing with – board dues, increased gas, increased cell usage, marketing (essential), etc…

E) Funding – how are you going to pay for your budget w/ no income for the initial (at the very least) 60 days? With the goals you’ve set for yourself, when will you break even?

F) Marketing Plan – how are you going to obtain the word out about your services? The MOST effective way to market yourself would be to your own sphere of influence (people you understand). Make sure you do so effectively and systematically.

2) Not Using the GREATEST Closing Team

They say the best businesspeople surround themselves with people who are smarter than themselves. It requires a fairly big team to close a transaction – Buyer’s Agent, Listing Agent, Lender, INSURANCE PROFESSIONAL, Title Officer, Inspector, Appraiser, and sometimes more! As a Real Estate Agent, you are in the positioning to refer your client to whoever you select, and you should be sure that anyone you refer in will undoubtedly be an asset to the transaction, not a person who provides you more headache. And the closing team you refer in, or “put your name to,” is there to make you shine! If they perform well, you get to participate of the credit because you referred them in to the transaction.

The deadliest duo out there is the New AGENT & New LARGE FINANCIAL COMPANY. real estate social media marketing get together and decide that, through their combined marketing efforts, they are able to take over the world! They’re both focusing on the proper section of their business – marketing – but they’re doing each other no favors by choosing to provide each other business. In the event that you refer in a bad insurance professional, it might cause a minor hiccup in the transaction – you create a simple phone call and a new agent can bind the house in less than an hour. However, because it typically takes at least two weeks to close a loan, if you use an inexperienced lender, the result can be disastrous! You might find yourself ready of “begging for a contract extension,” or worse, being denied a contract extension.

An excellent closing team will typically learn than their role in the transaction. Because of this, you can turn in their mind with questions, and they will step in (quietly) if they see a potential mistake – because they want to assist you to, and in exchange receive more of one’s business. Using good, experienced players for your closing team can help you infinitely in conducting business worthy of MORE business…and on top of that, it’s free!

3) Not Arming Themselves with the Necessary Tools

Getting started as an agent is expensive. In Texas, the license alone can be an investment that will cost between $700 and $900 (not taking into account the amount of time you’ll invest.) However, you’ll run into even more expenses when you attend arm yourself with the necessary tools of the trade. And do not fool yourself – they are necessary – because your competition are definitely using every tool to help THEM.

A) MLS Access is probably the most expensive necessity you are going to run into. Joining your neighborhood (and state & national, by default) Board of Realtors will help you to pay for MLS access, and in Austin, Texas, will run around $1000. However, don’t skimp of this type. Getting MLS access is probably the most important things you can do. It’s what differentiates us from your own average salesman – we don’t sell homes, we present the homes that we have available. With MLS Access, you will have 99% of the virginia homes in your area open to present to your clients.

B) Mobile Phone w/ a Beefy Plan – Nowadays, everyone has a cell phone. But not everyone has a plan that will facilitate the amount of use that REALTORS need. Plan on getting at the very least 2000 minutes per month. You want, and need, to be available to your clients 24/7 – not only nights and weekends.