What are the first steps to take after you've become licensed?

9 Replies

I'll be starting my first week as a licensed agent next week. What are the very first steps that I should take to get customers? We all are taught in the real estate training what to do but I'd like to hear what people REALLY do, what works, and best practices. Also which practice has the best ROI?

Are you asking about being a realtor or investor?  From the school of Keller Williams, What are your real estate goals?  

Your investments have a ROI. Your work as a realtor doesn't. If you want to compare the ROI for business cards vs time spent at open houses vs spending money on an Acura vs keeping the family minivan, then all i can say is you will be spending a lot of time worrying about things that won't put a dime in your pocket.

@Jennifer Griffin

Congrats on passing the exam! That's a huge accomplishment in itself so pat yourself on the back. Now it's time to put the rubber to the road. I'm no veteran agent or a million-dollar producer (yet) but I have learned a ton by making my own mistakes as well as watching what the great, and not so great, agents in my office do. 

My biggest mistake initially was thinking that business would find me or that my SOI would refer enough business to me to keep me afloat. Therefore, I didn't invest much of my own money into marketing. That was a HUGE mistake. Pull the trigger on some Zillow advertising, Trulia, etc. and see what works best in your market. For me, spending a few hundred dollars per month on becoming a Zillow premier agent has paid off big time. Hold open houses for other agents in your office just to get your face out there and interact with the public. Send out announcement cards letting all of your friends, family members, former coworkers, etc. know that you are now in real estate. 

I could go on & on but I'll spare you all the gory details. Help people make wise decisions in regards to their real estate purchases and keep it as stress-free as possible for your clients; that alone will separate you from the pack.

@Jennifer Griffin what type of clients are you wanting to work with? If you want to work with investors then get to networking. You're very unlikely to find that type of client in the day to day grind as a broker. If you want to work with a wide variety of people then @Michael Jobe has given some good suggestions. It's a modern world so the marketing is changing constantly. Find what type makes you comfortable and commit to it. Bouncing around from one type to the next won't give you feedback on what is actually working. Good luck!

Dan Mackin, Real Estate Agent in CO (#FA.100056958)
720-971-7139

@Dan Mackin and @Michael Jobe ,

Thanks you two for the feedback. It is very helpful to know that advertising, marketing and networking are very important even right out of the gate. I might have taken my time, and entered into it slowly had you not mentioned that. I'm also happy to hear that it is OK to stick with forms of advertisement that are comfortable for me. Speaking of that, do I HAVE to do cold calling and go door to door? My husband insists I go door to door, but I'm hesitant.

@Jennifer Griffin

The only time I have done door-to-door is when I was handing out flyers for an open house. It's somewhat difficult to do in my market because the majority of the subdivisions have strict 'No Solicitation' rules. In the neighborhoods that I focus on, it's a surefire way to get the police called on you. Cold calling works but the challenge with that is finding the actual phone numbers since most people have cell phones now. If you can track down a phone number for someone, I'd suggest sending them a post card or handwritten letter first and then following up with a phone call once you know that they've received your mailing.

Get it girl!  Go knock on some doors.  Once you get that one person who is willing to talk to you and you end up with a listing agreement you will never be shy about cold calling and knocking on doors ever again.  You have to look at every opportunity as a dollar and what you are know playing is a numbers game.  The more people you connect with (good or bad) means the more money you make :)  Trust me, they will not be knocking on your door, you need to find them 

Marketing. Marketing. Marketing

Get e mails and phone numbers!

Don't spend much on marketing

Here's a few comments I've made before and they may help a bit:

1). Finding a mentor can, depending on the person save much time on "ramping up" your business but it could come at a cost of not being your own independent creative thinker and doer. IMHO, the business lacks individuality and to be a top performer you'll need to more than copy another. 

2). Can "go it alone"?  Yes, in fact the most surprising thing about getting into the business is the realization that you are just that... ALONE.

3). There are amazing books and courses that can help you research and learn. If you use this method you will have a really good shot at finding out the individuality you'll need to find. Now that you are licensed I would highly recommend the NAR library as a resource.

4). How long will it take to ramp up?  You'll find going for your first sale will slow down your training on other things, a reasonably stable yearly income level normally takes 18-24 months IMHO, becoming really good could take the rest of your life.... Lot of really good competition out here!

5). Best practices:  Good relationships are to say the least CRITICAL. New Realtors® find out it takes relationships to get to square one pretty fast.  Under the category of "if a broker/agent is lying to his clients" here's my take :

There is no way anyone can ever find out BUT, you must ask yourself the same important question he asks himself... If he gets caught would it be worth the lawsuit, license loss, fines and destruction of reputation to do it? Most brokers tell the truth because it would kill thier business if it ever got out. If you don't have ethics you run out of clients fast. Other agents will boycott you and you will not have a market in no time at all. One commission does not make a business, but lying about things will insure you don't have a business at all.

Remember that there is almost no incentive being paid only on the difference, it's hardly enough reason to take the chance of somehow getting caught.

BEST LUCK!

Originally posted by @Jennifer Griffin :

I'll be starting my first week as a licensed agent next week. What are the very first steps that I should take to get customers? We all are taught in the real estate training what to do but I'd like to hear what people REALLY do, what works, and best practices. Also which practice has the best ROI?

 There are books at Dearborn publishing about marketing and advertising I would look at

Join the Largest Real Estate Investing Community

Basic membership is free, forever.