There are so many things that we hear new realtors wish they knew right away to aid their careers right out of the gate. Real estate agents have so much to learn, it’s definitely an overwhelming process. Here is REC’s advice for any junior or seasoned professional to get over the initial hurdle to become the best agent they can be.
The very first thing we recommend is getting an assistant. Everything can quickly build to an excessive degree, and they can be there to help at the very first step of the process. They can help you handle your schedule to streamline everything; maneuvering through all of the appointments, phone calls and listings. They are truly worth the cost, as any time something slips by it could be business potentially lost business that another realtor could quickly pounce on.
Practice your phone skills. You’re going to spend a lot of time talking to clients and potential buyers, it’s important to comfortably present your best and most authentic self. Learn to listen to their needs, and do everything in your power to attain what they are seeking. Much of your business will be making calls and getting clients to warm up to the idea of how you can benefit them.
Building rapport is a necessity for any successful real estate professional. The more time that clients can connect with you the more likely they will welcome your offers. On the phone, be personable, ask them how the family is, make yourself relatable. Be genuine. Ask if they are comfortable offering your services to other people. As soon as you get your license you should call everyone in your database to let them know that you can help them buy, sell and invest, and ask if it’s okay to contact them (asking for permission goes a long way).
Whenever you get on a call or have a meeting, we advise to ask for feedback. The only way to improve is to get constructive criticism; you won’t know where to improve if you aren’t informed on where you misstep. This is all about ensuring everyone can warm up to you as soon as possible.
We recommend getting Client Retentive Management software (CRM). This will help you keep better track of your appointments to know when and how to reach out. It gives you the option to add notes for personal touches of information to mention to clients that can really stick out to them. It’s another method to build strong rapport.
You want to dedicate time to prospecting new clients. We advise contacting everyone you know, I’m sure there’s a quite a few in your circle of friends who can benefit from your services. Don’t be afraid to knock on some doors, it’s a good way to meet potential buyers and warm yourself up to contacting people. Open houses are the tried-and-true way to accomplish this, you can connect with so many interested parties and meet people you can assist in the future. It’s recommended to hold events so people can see what you have to offer, piquing their interest in investing. The more clients you get the more it will snowball to potentially more clients.
Getting a mentor is something that is beneficial to anyone starting out in this field. Their journey can aid you in understanding all the minutiae, helping you to hit the ground running and help streamline your career from the very beginning. We advise that you work for free in this capacity, you can provide your teacher value, but what they can provide you can boost your career exponentially further than you could possibly have reached without early on. Any and all involvement can give you the boost you need to further become the professional you wish to be. There’s also the benefit of gaining any overflow business, they will do whatever they can to help you succeed due to the benefit you’re providing them. A mentor is absolutely invaluable.
Having a set schedule helps me to maintain productivity at its peak. We recommend prospecting clients from 9–11 am, calling all hot leads and setting up meetings. 11–12 return calls from any interested party. At 12–1 don’t forget to take a break and get something to eat, in this business we are so focused that we forget about food. 1–4 is a great time for meeting people face-to-face. Between 5–6, return more calls. 6–7:30 make sure that you eat again, and spend some family time, cooling off is a great way to refresh. From 7:30–9:30 appointment setups once again.
Start documenting your ups and downs now, and present it to the public. Don’t wait on it, people will connect with your authenticity right away. The more content you present the better people will connect to your journey. When you step into the mentor role this will have so much added value to whomever you are teaching.
New realtors should take very deal possible. Whether it be a million dollar home, a small one bedroom or helping a landlord find a tenant, this will help you hone your skills. No property is too big or too small to gain some practice. With more trial and error you’ll get more comfortable with the paperwork, more relaxed talking to people and just with the overall process.
Network with as many people as you can. The more people you meet the better off you will be. Face-to-face interactions are the strongest connections you can make; this the best way both parties can relate to one another. Hosting events is a good way to expand your network and generate positive word-of-mouth. It doesn’t always have to be “salesy,” if it’s engaging people will come to you, which will generate organic business.
You want to be in contact with people 36 times a year, you always want to be top-of-mind for invested and casual parties. 2 emails a month inquiring for interest and offering value is a quick way to show their importance to you, this is 24 easy touch points. 4–6 events annually demonstrate that you are a key player in this field. You should be calling those in your database a minimum of 6 times a year. It will be impossible for them not to realize how much you appreciate their business, letting them know how valuable they are to you.
Money management is a key component for any member in the field of real estate. You need to understand that when you get a commission cheque it’s not all yours. You need to pay the CRA (income tax and HST, approximately 33%), take into account future marketing dollars, money to save for general things down the line, and the rest to pay the bills.
These tips can benefit any realtor who is just getting into the field. The name of the game is really about meeting people and building those connections into long-term bonds. It is rather overwhelming, but this will help you ease into becoming the best professional you can be.