Staring out as a new realtor, need advise

5 Replies

Hello,

My wife recently got her Colorado real estate broker license, partially to help with our investing, and also to try and earn some extra money. She just began working as an agent, and the competition for agents in the area is very tough to crack. She has been telling everybody we know that she is an agent, as well as giving business cards to everyone she can.

I have came to BP looking for tips she can use to begin to break into the market as a new agent. We are looking for some creative ideas to set her apart from the pack, and get some sells under her belt. Also, what are your thoughts on Zillow premier agent, is it something a new agent should begin using immediately? She is reading a some recommended books we have heard mentioned on BP podcasts, any good reads you may know of would be appreciated. Thanks in advance for any advice.

Create a marketing campaign. Monthly snail mail piece to sphere of influence. Monthly email to sphere of influence. Quarterly getting an item of value into hands of sphere.

Start a geographic farm. Monthly snail mail piece to farm using every door direct mail. Quarterly neighborhood event. Create a neighborhood website and post regularly news items that affect the neighbourhood. 

Thank you Russell, she is beginning to mail to a target neighborhood. I particularly like to idea of the neighborhood website with news updates. We were considering a value add blog/website of some sort, but didn't know what type of content to provide, this is great!

As far as Zillow Premier agent goes - it partially depends on the available areas and the price, but typically I would say this would not be a tool for new agents. You are paying for your profile to appear along side of 2 other agents on a home listing. Without recent sales or feedback, it is not likely that your wife would be selected over the other two. It is very costly ($500/month to get started in my area) and the ROI is around 50-150% in my area which may sound good until you consider the time and effort it takes to convert those leads, maintain/nurture those relationships, and close the deal(s).

Hi Cody.

While I have worked in real estate for about a decade now, I am new agent who became licensed in April 2017.  I am a part-time agent who works full-time as a Property Manager, so I do have lots of flexibility to do what I need to do during business hours. 

Here is what I have done that has worked for me. Like others have said, I focused on my sphere of influence.  I did market analysis for friends/family who had mentioned selling in the past or just seemed like their house didn't work for them.  That helped me get my first few listings. My family and friends tag me in social media post quite frequently when they noticed people ask for realtors and I always reach out.  Same with me when I see someone on social media discussing selling.  I also found a mortgage broker that is AWESOME!  At the time, she didn't have a lot of agents who brought her most of their deals, so I meet with her learned about loan programs and sent everyone her way - because again she's a broker, she has tons of loan programs that work for everyone and she is great with her clients. Overtime, she began to know and trust me and when she has people that doesn't have a realtor, she sends them my way.  This doesn't happen a lot but it does sometimes.  So she should work to find partners in all aspects - lenders, inspectors, surveyors, etc. 

In July of 2017, I started using realtor.com for leads.  I chose them at first because they were a lot less than zillow and I liked the fact that if it was a shared lead that both agents got the same email and you both had the opp to reach out and connect.  Like others have mentioned zillow isn't like that.  I also chose zip codes that I was really knowledgeable about but also weren't areas that have top selling homes - those are higher demand and more costly.    I also took zip codes that were close to me that were cheap and learned those areas.  Be prepared that you will get lots of leads but they don't always pan out and I chose the ones I want to target. I found another agent in my office who wasn't paying for leads so I toss them the ones I don't want and they pay me a referral fee.  This works well for me.  

I know that there are tons of agents who don't follow up with leads or have price points they just don't go under.  So network with the agents in her office and see if they have any leads they are willing to send her way. 

Now that I have closing and ratings under my belt, I started advertising today with Zillow. Day one I have three leads and meeting a cash buyer in the morning to "write up a contract" of course that doesn't mean it's going to happen but hopefully it well.   In realty, I only purchased the leads because Realtor.com didnt have any additional ones they could offer and I am paying the same price for two zip codes as I do for 6 with realtor.com.  I am hopefully it will pay off. 

Wish you and your wife all the best.  She is going to kill it! 

Originally posted by @Cody Harmon :

Hello,

My wife recently got her Colorado real estate broker license, partially to help with our investing, and also to try and earn some extra money. She just began working as an agent, and the competition for agents in the area is very tough to crack. She has been telling everybody we know that she is an agent, as well as giving business cards to everyone she can.

I have came to BP looking for tips she can use to begin to break into the market as a new agent. We are looking for some creative ideas to set her apart from the pack, and get some sells under her belt. Also, what are your thoughts on Zillow premier agent, is it something a new agent should begin using immediately? She is reading a some recommended books we have heard mentioned on BP podcasts, any good reads you may know of would be appreciated. Thanks in advance for any advice.

 First of all, it takes time and money to market and become a successful agent. I really like Gary Keller's Millionaire Real Estate Agent book. It is a cook book and if you follow it, you will be successful. Most don't have what it takes to follow it. Hope it goes well for you and your wife.

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