Top 25 Quotes On REAL ESTATE AGENT

Every time I speak to someone about my business and career, it always arises that “they’ve thought about getting into real estate” or know someone who has. With so many people thinking about getting into real estate, and getting into real estate – 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 REALTORS in the world. Personally i think, however, that the inherent nature of the business, and how different it really is from traditional careers, helps it be difficult for the average indivdual to successfully make the transition in to the Real Estate Business. As a brokerage, I see many new agents make their way into my office – for an interview, and sometimes to begin with their careers. New Real Estate Agents bring plenty of great qualities to the table – plenty 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 PROPERTY Brokerage they will join when their shiny new license comes in the mail. Why? Because most new REALTORS have never experienced business for themselves – they’ve only worked as employees. They, mistakenly, believe that getting into the Real Estate business is “getting a new job.” What they’re missing is that they’re about to go into business for themselves. If you have ever opened the doors to ANY business, you know that one of the key ingredients is your business plan. Your organization plan can help you define where you’re going, how you are getting there, and what it does take for you yourself to make your real estate industry a success. Here are the essentials of worthwhile business plan:

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

B) Services You Provide – you do not wish to be the “jack of most trades & master of none” – choose residential or commercial, buyers/sellers/renters, and what area(s) you intend to specialize in. New residential realtors tend to have probably the most success with buyers/renters and move ahead 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 write down EVERY expense you have – gas, groceries, cell phone, etc… Then write down the new expenses you’re dealing with – board dues, increased gas, increased cell usage, marketing (very important), etc…

realmove E) Funding – how will you pay for your allowance w/ no income for the initial (at least) 60 days? With the goals you’ve set on your own, when do you want to break even?

F) Marketing Plan – how are you going to obtain the word out about your services? The simplest way to market yourself is to your own sphere of influence (people you understand). Make sure you achieve this effectively and systematically.

2) Not Using the Best Possible Closing Team

They say the best businesspeople surround themselves with people that are smarter than themselves. It takes a pretty big team to close a transaction – Buyer’s Agent, Listing Agent, Lender, Insurance Agent, Title Officer, Inspector, Appraiser, and sometimes more! As an agent, you are in the positioning to refer your client to whoever you select, and you should guarantee that anyone you refer in will undoubtedly be an asset to the transaction, not someone who provides you more headache. And the closing team you refer in, or “put your name to,” are there to make you shine! When they perform well, you can participate of the credit because you referred them into the transaction.

The deadliest duo out there is the New AGENT & New LARGE FINANCIAL COMPANY. They get together and decide that, through their combined marketing efforts, they can take over the planet! They’re both focusing on the proper section of their business – marketing – but they’re doing each other no favors by choosing to give each other business. In the event that you refer in a bad insurance agent, it might cause a minor hiccup in the transaction – you create a simple phone call and a new agent can bind the property in less than an hour. However, because it normally takes at least fourteen days 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 know more than their role in the transaction. For this reason, you can turn to them with questions, and they will step in (quietly) when they visit a potential mistake – because they want to help you, and in exchange receive more of your business. Using good, experienced players for your closing team will help you infinitely in conducting business worthy of MORE business…and best of all, it’s free!

3) Not Arming Themselves with the Necessary Tools

Getting started as a Real Estate Agent is expensive. In Texas, the license alone is an investment which will cost between $700 and $900 (not taking into account the amount of time you’ll invest.) However, you’ll come across even more expenses when you go to arm yourself with the required tools of the trade. And do not fool yourself – they are necessary – because your competitors are using every tool to help THEM.

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