Real Estate Agent for noobies

10 Replies

Hello BiggerPockets world, I am from Cincinnati Ohio and am currently taking my courses to become a real estate agent. I was wondering if I could get some insight from all of you very smart investors about what you specifically look for in a real estate agent.

What separates the “rockstar” real estate agent from your average run of the mill one?

As and investor what can I do to give you and myself a ton of business?

Thank you guys and happy investing✌️

Agent & investor here. 

Income and success statistics for real estate agent's is not overly impressive. 

Most agents do not realize they are starting a business. They are the CEO and employee of their business. 

Planning, strategy, and sales & marketing are a few vital tasks that every business needs to succeed. 

Rockstar agents know (and constantly improve) their value proposition / competitive advantage, know their target market, and know their avatar client. Average agents do the same thing that the thousands of other average agents do and achieve the same average or below average results. 

Finding a mentor early on to accelerate the learning curve is important. The best brokerages will require you to partner with a mentor to help you through the first few transactions. 

Let me know if I can help out in any way. Our brokerage operates in OH. My team educates agents how to invest and build better businesses. 

@Evan P Stegman I love working with agents that bring me deals! Haha. Doesn't everyone? But, that's the truth. I have a team and money ready to go, but it is so difficult to find deals. The best brokerages are able to source deals and then match them up with their investors. I've also had great experience with agents giving me great referrals for property managers and lenders. 

That's great @Evan P Stegman , exactly what @Lee Yoder said. If you have the deals, you will do well. I have had a lot of success in my business because of my off-market deals in Columbus, OH. There are different ways to get these but it's something I would try to build up! 

Originally posted by @Evan P Stegman :

Hello BiggerPockets world, I am from Cincinnati Ohio and am currently taking my courses to become a real estate agent. I was wondering if I could get some insight from all of you very smart investors about what you specifically look for in a real estate agent.

What separates the “rockstar” real estate agent from your average run of the mill one?

As and investor what can I do to give you and myself a ton of business?

Thank you guys and happy investing✌️

In order to make a lot of money in real estate as an agent you need to do one simple thing... pick up your phone and respond to people

 

So true @Remington Lyman ! It's blows me away when brokers don't call/email back. I guess in this market, it's too easy to find buyers, so they don't feel the need to network.

@Zeke Liston Any recommendations on how to increase your off market deal flow? Networking is always the go to response but curious if there is any other form of marketing you recommend? Mailers, bandit signs, etc. similar to what wholesalers do? Thanks for any insight you're willing to provide. 

Hi @Luke R., I do cold calls. It's no fun but it's efficient. No magic pill, just plain old cold calling. 

@Zeke Liston Thanks for the reply. I've done phone sales in the past, so I'm actually happy to hear that. If you don't mind me asking, where do you get your calling lists from? The county, a service like Redx, skip tracers on properties you want to reach out to specifically? 

I'm looking into automated skip tracing systems but for now, I use the auditor website.