Today I am going to share twenty tips greater towards new real estate agents. Each concept will come from my experience in the field. I wish someone had told me many of these tips before I started. I’ve set aside 20 minutes to write this article, so let’s begin.
Real Estate Agent Marketing Tips
1. Ask every lead how they found you – Every client got your number or email from someone or in some place. Use this knowledge to better refine what strategies are working, and what is not.
2. Remain consistent – No matter how you market yourself, you need to keep to a schedule to accurately gauge if your strategies are working.
3. Validate everything – Always evaluate (and reevaluate) how your marketing strategies is working. If Facebook ads are not producing, stop them. Just because someone else is finding success with them in their market, doesn’t mean it will work in yours.
4. Try something new – Never be afraid to try out a new way to acquire leads.
5. Pick up the phone – 90% of your competition are not willing, or are unable, to pick up the phone. If you call a lead, you are already doing things right.
6. If it’s already common knowledge, it’s probably too late – Everyone knows how to go after expired listings, and just about every newbie real estate agent does it. Make a better mouse trap. How about going after expired rental listings?
7. Keep it simple – If you cannot think of a cool doing business as (DBA) name, use your own. People want to use you to buy, sell or rent their home, not EpicHomesGroup LLC.
8. Fake it till you make it – If you show up in a suit and are well-spoken, a client has no idea if you are a rookie agent or sell $50m+ in inventory a year.
Real Estate Agent General Tips
9. Be honest – Don’t price a house high to get the listing. Always be truthful with buyer’s and seller’s and let them make the final call.
10. Respect your fellow agents – Emotions can run strong during a transaction. Your fellow agents are your competitors one day, and your co-listers the next. What goes around comes around.
11. Trust your broker – Your broker is there to help you. If you ever feel this is not the case, find a new one.
12. Negotiate everything – Everything has a price and almost everything is negotiable. There are no across the board fees between brokerages, so don’t let them take you for a ride.
13. 80/20 rule – 20% of agents do 80% of the business, and vice versa.
14. Know your sh*t – Know how to value a home. Learn how appraisers derive value. Read the FAQ page.
15. You call the shots – You are your own boss. If you want to spend money somewhere, that’s your call. If you want to change your strategies, that’s your call. Take responsibility for your actions, but respect the fact that you have the privilege to choose.
Real Estate Agent Motivational Tips
16. There are no easy deals – That’s a good thing. Once buying or selling real estate becomes a cookie-cutter process, the technology companies take over.
17. Losing out will always suck – Even agents making seven-figures lose out on deals. In fact, many of them lose out on a lot of deals. It’s never going to be easy, but keep pushing forward.
18. Experience isn’t everything – If experience was everything, a young person could never make it in real estate. Yet, many young people can and do succeed in residential real estate sales. If you are younger, you can better empathize with first time buyers, have better tech savviness, etc.
19. The competition isn’t that great – Most agents are not that ambitious, aggressive, etc. Trust me, they are beatable. You can sell more homes than them.
20. Rome wasn’t built in one day – Workaholics are a breed of their own. If you aren’t one, that’s ok. Most of us are not. Don’t feel obligated to work until 9pm on a project that can wait until the next day.
Bonus tip: Look at the road ahead – If you take your foot off the gas, your competition takes over. You don’t need to travel down every path, but you should know where they might end up. In other words, if someone pitches you on a new marketing concept, business strategy, etc. learn where it could take you before saying no.
Boom. That’s 20 tips for new real estate agents. Unfortunately, it took me 30 minutes to compile, but that’s fine. I hope these pointers help you as you enter the, or grow your, business. At first, selling residential real estate can be daunting, but you’ll soon learn to enjoy the ride.