What do new real estate agents need that real estate classes didn’t teach?
Real estate classes teach new agents the role of a real estate agent, real estate terminology, how to interpret market data, how to follow real estate law, how to describe different kinds of houses and parcels of land, etc.
Unfortunately, they don’t teach enough about how to become successful.
What additional knowledge do new agents need?
Start with market knowledge.
All agents should know about the homes for sale in their territory. They should know whether prices are going up or down and be able to state the current average days on market in each general price range.
Once the agent has chosen a territory, they should also be able to answer basic questions about services, zoning, building restrictions, etc.
Then there are forms.
If a client asks the meaning of line 72 or what they should write in the blank on line 85, the agent should be able to answer. (No, I don’t mean memorize the line numbers. Just know the answer when you look where they indicate.)
Marketing and Salesmanship come under both knowledge and skills.
They are learned and developed over time – and a lot of trial and error. New real estate agents need to pay attention to what successful agents do and try to mirror some of that while developing their own style.
IMPORTANT: Read all you can and listen to advice about both topics, but don’t follow blindly. Use your own common sense and respect your own personality. Never try to use a marketing or sales tactic that feels wrong to you.
What mindset do new real estate agents need?
Oh – so much. Beginning with entrepreneurial. Real estate agents are independent business owners. They may have a broker or office manager who suggests things to do, but they have NO BOSS to say “Do this, this, and this. And have it done by 5:00.”
No. When you’re a real estate agent, the only one who can tell you what to do and when to do it is YOU. And if you don’t listen when you say: “Get up, dress up, show up, and do the work,” then you’ll fail.
New agents must have determination and discipline.
Getting started in sales isn’t easy, so it’s easy to get discouraged. Worse, when you’re discouraged it’s far too easy to quit trying. You can’t make things better by sleeping in, staying home in front of the TV, or sitting in the office gossiping or playing computer games. You have to keep moving even when it feels like you’re getting nowhere. It’s the only way you CAN get somewhere!
New agents (and seasoned agents) need “Thick skin.”
They must have the ability to pick themselves up and keep going when discouragement hits. So if you’re new, brace yourself. Be ready to accept setbacks and rejection and just say “next.”
Here are some truths that new real estate agents need to accept:
- Not every lead will turn into a real prospect.
- Not every prospect will turn into a client.
- Not every client will turn into a closed sale.
People will hurt your feelings. Repeatedly. They’ll make appointments and not show up. They’ll look at 27 homes with you and buy from someone else – or maybe just decide to go to some other city. They’ll let you advise them on getting their house ready to list, then list it with a brother-in-law. The list goes on.
Transactions will fail through no fault of your own. Sometimes things just happen. Financing falls through. An inspector finds a serious, expensive problem. Buyers or sellers become ill – or pass away! One summer when I was an agent I had two transactions fail within one month because the buyers decided to get a divorce instead of a house.
What tools do new real estate agents need?
Bookkeeping software…
… and the discipline to keep entries up to date, especially regarding small cash purchases. (But yes, also keep the receipts.) You’ll find that even small deductions add up. That’s important when tax time comes around.
Check with your tax preparer or search on line to see a complete listing of expenses you can deduct.
A website of their very own…
with a domain name not related to their brokerage.
This is important because at some point in the future, agents, including you, may want to change brokerages. If your brokerage owns your website, you’ll lose everything you put into it. And, even if it belongs to you, if it includes your brokerage name, it will be of no use to you. Choose carefully, because hopefully this name will be yours for a very long time.
Choose a domain name related to your location, your niche, or your own name. Try to come up with something easy to remember and easy to type. Note that the word “realtor” is owned by NAR, so don’t try to use it as part of your name.
An email tied to their own domain.
It simply looks more solid and professional.
Informative content on that website.
Before you panic… do remember that your website can and should evolve over time. You don’t need to add every possible page immediately.
You’ll probably want a search function.
After that you need content that isn’t just the same recycled information your visitors will find on every other website they visit.
Your real estate agent bio is essential.
Your real estate agent bio is the tool that allows people to form an opinion of you and decide whether you are the agent for them. Since studies show that this is the 3rd most visited page on a service provider’s website, I suggest that you add this first – right after the search function.
When well-written, your bio will show you for the interesting, intelligent person that you are. It will help you connect with people on a personal level while it showcases your unique business skills. More than one of my copywriting clients has written to tell me that they had just been chosen by a client specifically because of their bio.
And yes, even a brand new agent can have a client-attracting bio. Here’s how.
Add a blog to your website…
Then fill it with interesting posts connected to your market, to your niche, to events and places in your community, and even to your hobbies or volunteer activities. As time goes on, add your listings and your “just sold” news!
Buyer and seller advice and information is good…
…so take the time and make the effort to provide something worth reading. Don’t copy what your franchise publishes, because that will just be same old, same old.
Put your own twist on it or make it related to your niche. And yes, if you don’t write well, it is possible to hire a copywriter like me to write it. You just have to provide the input that would make it “yours.”
Community pages are also good. They not only offer valuable information, they show people relocating to your area that you know the territory. They also give sellers some assurance that you’ll be good at promoting life in the community to those who are considering locating there. Community pages need to be written with care while thinking about what newcomers might want or need to know. They should NOT be a copy of the dry information on Wikipedia.
Round it out with pages related to your niche.
Whether your niche is related to a specific type of property or a specific group of buyers or sellers, you can add pages that will inform and interest them. Later, tie back to these pages through posts on your blog.
