New Agent with Questions

10 Replies

Hi all!! I am a brand new agent and long time teacher.I am in the process of finding a firm that is the right fit and making it full time.

Question: IS it the norm for new agents to start as buyers agents? Is it an unspoken requirement?

** I am willing to do it of course but prospecting in the phone for buyers 6 hrs a day is not what I envisioned..The one firm ( team) wanta me to handlebonly the buyer side while one person deals with negotiations/ listings and one handles the contract.

Please help a newbie out.:)))

If you dont want to prospect for clients hours every day...this business isnt for you.  Prospecting is how you will spend the majority of your time wether it is for buyers or sellers.

I understand its crucial...but this firm would not allow me to work with open houses.....nor create listings..I just don't know if that is the norm.I understand the prospecting part and its importance.

I would consider it as "training". In any job role you jump into you will have a period in which you won't be truly in the front lines. This will allow you to get a better grasp of the industry and the people you will be working with. Starting out client facing right away would be like throwing you to the wolves. 

I know it's not ideal to start in this situation but in all honesty to some extent everyone in this industry does it. 

THANK you for the good input.:)

Hi Account Closed!

Welcome and congratulations!

There are plenty of brokers and plenty of ways to do things, you have to find what works for you.

In my opinion there are 4 main ways to make it past the 80% + fail out rate:

1) Pay huge amounts of money in marketing to pull in leads, buyers and sellers.

2) Spend 17 hours (no kidding) a day calling, talking, asking, networking with people to get leads

3) Ride the coattails of someone who is the "rainmaker" bringing you clients. You do things their way and get a foothold.

4) Find that perfect compromise between the above 3

NONE of these are the wrong answer (IMO). You have to find the one that fits you. In the end this is your business. Like all businesses the owner is responsible for choosing the direction of the company (your name in RE). So my suggestion is find the right mix between recognition, money and time that will work for you and interview a few companies. 

Good Luck!

Thank you for the well thought out and insightful response!!! Great advice!

Account Closed Welcome to one of the greatest careers out there.  I wish you all the best!

You already get it girl!  The key is obtaining listings.  The Buyers will come.  Don't let anyone tell you different.

You WILL need to work hard, prospect, even call Sellers and ask them for their business, but concentrate your efforts on Sellers.  Once you get a listing, the Buyers will come.  You build a Buyer pool relatively quickly, and the cool thing is that you aren't begging them for business, but rather THEY are coming to YOU to help them.

Keller WIlliams has a great training program called IGNITE, that helps you focus on hitting the ground running (thus the obvious title).  Reach out to a KW office near you to ask if you can sit in on one of their IGNITE modules.  You will be delighted you did.

Also, if you can spend some money, look into an adwerx campaign.  If you have a website, or even just a splash page that tells people why they should be calling you to sell their house, then you can point a targeted adwerx campaign right to it.  The campaigns are relatively cheap, and can run for as short as a week.  You can target by zip code, radius around a zip code or city, etc.  If you want to gain top of mind awareness in an area quickly, an adwerx campaign would be a big bang for the buck.

Be a FSBOs best friend. Contact them to set up a time to view their home. Tell them that you like to know the inventory in that area whether it is listed in MLS or not because you want to give your Buyers ALL the best options for their purchase, not just those listed. As you walk through their house, ask them how YOU can help THEM with their efforts to sell their home. Offer them an item of value. This could be an open house guest register, or a sample Seller disclosure form for them to review, or a tip sheet on how to hold an open house, etc. Keep in touch with them to see how they are doing. Call them after open houses to ask how it went, and if there was anything else you could help them with. Eventually, IF they give up on their efforts to sell FSBO, they will call YOU because you were so helpful, and not just nagging them for their listing. BTW, ask them if you can have the guest register after their open house so that you can follow-up with the people who attended. If the Prospective Buyers weren't interested in their house, maybe you can find them that suits their needs.

There are alot of ideas for prospecting, especially on a budget, but you DO need to be willing to put in the time and work, be consistent, and focus on the right activities.  As I said before, you are on the right track with Sellers as your focus.  Smart.

Hey Account Closed. And the way many agents talk about it, sellers and listings seem to be more favorable than working with buyers (especially since you get a commission from both selling the property and also helping that seller find a new one, in most cases). But you could flip that argument and say that buyers need to sell their property as well (not always if they're like an investor, but still). Furthermore, I often find it's much easier to convince buyers to sign with me than sellers by telling them that classic line: "Oh, did I mention that my services to you are free?" Of course, that money is still originally from the buyer (and the commission can force the price higher than the buyer would want, but you get my point).

And yes, prospecting is tough... however!! That doesn't mean you can't add some variety. Go to church, get lunch with friends, have a potluck with your neighbors, take public transportation and talk with the drivers, volunteer and network with others, keep posting on the BP forums and send requests to people in your area, etc. No one said you have to eat the porridge bland, bring out the toppings and seasoning! It may seem like a long road but enjoy the experience, have a few laughs and don't forget to ask if anyone's buying because eventually, those people will need to sell and guess who they're going to call? ;)

You might consider a direct mail campaign to potential buyers. One effective list used for this would be Renters, age 26-50, a good income for your area and high Financial Stability Score.

Think about teaming up with a Mortgage Broker to share the cost - it can be a win-win for you both.

You could promote a seminar for home-buying to bring people in.

Originally posted by @Russell Brazil :

If you dont want to prospect for clients hours every day...this business isnt for you.  Prospecting is how you will spend the majority of your time wether it is for buyers or sellers.

Unfortunately, this is true. The good news is that you get used to it over time and even quite adept at it. I don't have a hard time with it -came natural to me coming out of a sales background. But those I have seen that had a harder time with it to begin with got better and better. I suggest splitting your day into bite-sized chunks. Don't watch the clock and get used to no's.

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