Agents, what's your #1 tip? (Plus, NEW BOOK!)
68 Replies
Kaylee Walterbach
BiggerPockets Publishing Marketing Coordinator from Denver, CO
posted about 1 month ago
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In the spirit of helping new agents be the best they can be, we want to know: Agents, if you could travel back in time, what’s the ONE tip you would give to yourself when you were first starting out?
Jonathan Frith
Real Estate Agent from Richmond, VA
replied about 1 month ago
Number 1 tip,
If you wouldn't feel comfortable of buying a property in a certain part of town, don't buy it.
Bruce Lynn
Real Estate Broker from Coppell, TX
replied about 1 month ago
Talk to more people.
Pick and work your niches.
Nathan G.
(Moderator) -
Real Estate Broker from Cody, WY
replied about 1 month ago
Instead of marketing to a bunch of strangers, strengthen existing relationships and then (eventually) ask them for referrals. They already know, like, and trust you so it's easier to get referrals through them than it is to build new relationships in hopes of finding a buyer/seller.
Make a list of 50 people you think like you enough to refer business to you. Talk to them at least once a month. On the third month, talk to them like you always do but include a request for referrals. Repeat every month.
If done properly, most of them should offer you at least one referral which will result in plenty of business. For those that don't, remove them from the list at the end of the year and replace them with new names. Rinse and repeat.
John Wright
Real Estate Agent from Cincinnati, OH
replied about 1 month ago
Look to the market for your niche before you start investing in marketing. Do a SWOT analysis for your market and try to find the segment or segments that are being underserved and target them.
Jonathan Greene
Specialist from Montclair, NJ
replied about 1 month ago
For brand new agents: read the contract and all buyer paperwork 10 times and then read them all again 10 more times and take notes on what you don't understand and ask someone. When you are new, you forget that to write an offer you actually have to understand every page that is in there so you can explain it to someone.
Klint Ruud
Investor from Nashville, TN
replied about 1 month ago
Selling houses is great but this industry has so many different avenues to be successful in. My recommendation is to diversify your business model as much as possible:
-Retail sales
-Wholesaling
-Build a brokerage
-Property Manage
-Project Manage (Other people's flips)
-Flip your own properties
-Build your own rental portfolio
Ola Dantis
Multifamily Syndicator from Houston, TX
replied about 1 month ago
Invest in Real Estate! 😝
Jay Hinrichs
Real Estate Broker from Lake Oswego OR Summerlin, NV
replied about 1 month ago
Originally posted by @Nathan G. :Instead of marketing to a bunch of strangers, strengthen existing relationships and then (eventually) ask them for referrals. They already know, like, and trust you so it's easier to get referrals through them than it is to build new relationships in hopes of finding a buyer/seller.
Make a list of 50 people you think like you enough to refer business to you. Talk to them at least once a month. On the third month, talk to them like you always do but include a request for referrals. Repeat every month.
If done properly, most of them should offer you at least one referral which will result in plenty of business. For those that don't, remove them from the list at the end of the year and replace them with new names. Rinse and repeat.
Exactly my wife was a trainer for Floyd Wickman back in the day. His son Gino has done very well with his books..
But what you describe is what I seen seen Lori do for years.. build a referral base.
Also for star agents in Northern CA Martin Levy was I think the first mega star he created the team concept before KW was even in business ( I think ) and that guy NAILED it..
I am glad to see BP talking about the life long benefits of creating a real estate sales business that can stand the test of time and once you get about 10 years in it can be very very good.. as opposed to wholesaling which to be successful is constant big budget marketing and you really don't build reporte' with your sellers like a good agent does.. and the buyers well they are investors and you know how loyal they are .. They aren't!! your just another wholesaler
Jon Kessler
Rental Property Investor from Perry Hall, MD
replied about 1 month ago
I'm not an agent but man does this sound like solid advice:
Originally posted by @Nathan G. :Instead of marketing to a bunch of strangers, strengthen existing relationships and then (eventually) ask them for referrals. They already know, like, and trust you so it's easier to get referrals through them than it is to build new relationships in hopes of finding a buyer/seller.
Make a list of 50 people you think like you enough to refer business to you. Talk to them at least once a month. On the third month, talk to them like you always do but include a request for referrals. Repeat every month.
If done properly, most of them should offer you at least one referral which will result in plenty of business. For those that don't, remove them from the list at the end of the year and replace them with new names. Rinse and repeat.