Agents, what's your #1 tip? (Plus, NEW BOOK!)

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Agents, what's your #1 tip? (Plus, NEW BOOK!)

Kaylee WalterbachPro Member
Rental Property Investor · Norman, OK · Member since 2018 · 158 posts · 529 votes

SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business is available now!

SOLD provides a much-needed look at how successful real estate agents build their business, close deals, and generate commissions. In this book, best-selling author and expert real estate agent @David Greene shares everything he wishes someone had shared with him—including the exact processes he used to become rookie of the year and top agent in his office.

Whether you’re a newcomer to the real estate world or a seasoned agent that never got mentorship, this is the book you've been waiting for. Learn from the best, refine your business, and become a top-producing real estate agent in record time. You can get the book, along with some stellar bonus content, on the BiggerPockets Bookstore!

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?

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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
5y

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.

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  • Ricardo Ponce
    Member since 2021 · 1 post · 0 votes
    5y

    @Kaylee Walterbach.

    Create a daily schedule that revolves around

    Training

    Generating leads

    Following up

    Admin

    Previewing Property

    Presenting and Showing

    If no appointments for the day then start back at the top until the end of your 8 hour day at least.

    With the training techniques you are learning Try it, Fail Fast, Get Feedback from a qualified person, and Try it again until you nail it.

    Get comfortable with being uncomfortable.

    0Reply
  • Mallikarjun Reddy Pateel
    Investor · NJ · Member since 2021 · 126 posts · 33 votes
    5y

    @Kaylee Walterbach

    try to Transparent with Agents

    0Reply
  • Cade Olof
    Real Estate Agent · Tucson, AZ · Member since 2020 · 104 posts · 64 votes
    5y

    COMMUNICATION IS KEY!!! 

    A study was performed for the purpose of figuring out if people had used the same agent to sell their home as the same agent who helped them purchase that home. When it came down to it, only a few of the clients used the same agent they did previously. When asked why they chose a different agent, they said the previous agent lacked communication. They never followed up with their clients after the purchase of the home and they lacked communication during the buying process. It amazes me that there are agents out there who do this!?!?! You will get most of your business by referrals. Treat every client like their your own family and communicate with them at all times, even after the transaction closes. Once you do this, you should never have a problem getting new clients and obtaining referrals.  

    1Reply
  • Julie DeWolfe Arroyo
    Realtor · southern Idaho · Member since 2020 · 81 posts · 50 votes
    5y

    @Kaylee Walterbach

    Hands down, an honest hardworking new agent, with a great broker, will be the better agent than slick 30 year veteran agent on fat-street, mr. BIG NAME who doesn't disclose to the buyer what he knows about a property.

    Transactions and years dont tell the full story, and there are no programs keeping track of the times an honest agent protected a client by steering them away from a wrecked property.

    0Reply
  • Rick Albert
    Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
    5y

    #1 Tip: If you don't hustle, someone else will.

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    5y

    @Julie DeWolfe Arroyo Great question.

    1. Be a great communicator.

    2. Improve your negotiation Skills.

    3. ALWAYS put your client first.

    4. NEVER Take-on any client you can not help.

    5. Be Honest and Transparent as much as possible.

    6. NEVER stop learning.

    7. Ask questions when in doubt.

    8. Always get recommendations and reviews from current and past clients.

    9. Pick and master a Niche (Do not even try to do it all)

    10. Follow up with ALL parties (especially your clients) and be a problem-solver.

    I will recommend David Greene's Book "SOLD" which I'm currently reading as a refresher and reminder. You can find it here: https://store.biggerpockets.co...

    Goodluck.

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  • Mike Rister
    Realtor · Nashville, TN · Member since 2020 · 1 post · 0 votes
    5y

    @Kaylee Walterbach

    My #1 Tip: Find a mentor, get an accountability coach/partner, seek out the top producer and do what they do. Success leaves clues!

    0Reply
  • LUIS GARCIA
    Rental Property Investor · California, CA · Member since 2021 · 3 posts · 0 votes
    5y

    @Jonathan Frith

    @keyglee

    0Reply
  • Jack Spakel
    Homeowner · Member since 2020 · 2 posts · 0 votes
    5y

    Invest in real estate ^_^🔥

    0Reply
  • Melissa Catena
    Real Estate Agent · Walnut Creek, CA · Member since 2018 · 4 posts · 2 votes
    5y

    I think a large part of being an agent comes down to managing your clients' expectations and educating them on buying and selling. We're not there to make decisions for them but rather guide them through what appears to be a complicated process.

    0Reply
  • Sean O'Dowd
    Specialist · Chicago · Member since 2021 · 45 posts · 22 votes
    5y

    Disclaimer: I'm not an agent, but my customers are. It's given me a really interesting vantage point to see how some agents have been able to grow big businesses and what are commonalities between those agents.

    The biggest commonality has been agents who spent a lot of time at the beginning of their relationship with their customers to define what 'good' looks like.

    For example, let's imagine the agent is working with a couple who is trying to sell their house.

    The rockstar agents spend a ton of time understanding everything they possibly can about how their clients think. For example:

    • What does the ideal outcome look like for you?
    • What is most important: sale price, close date, or something else?
    • (now) Are you comfortable with open houses during COIVD?
    • What does the ideal communication look like during this process?

    These are just a few examples. The rockstar agents ruthlessly prioritize this aspect and spend 30+min with clients discussing these parameters.

    Since the rockstar agents know all of this info ahead of time, they have the 'rubric' on how to succeed in their client's eye. It leads to really great transactions and tons of referrals.

    1Reply
  • Andy Nathan
    Rental Property Investor · Chicago, IL · Member since 2019 · 203 posts · 119 votes
    5y

    @Kaylee Walterbach do something every day to move the needle. I work a full time job. Between my investment properties and just getting licensed, I have found that while I might not be able to compete with those who are full time. However, if I can spend 30-60 minutes marketing and selling every day then I move the needle forward and start bringing in new clients.

    I love Nathan's comment about a list of 50 people. I think I reached out to about 20-30 and got 3 leads/deals from that.

    0Reply
  • Deneuve Brutus
    Investor · Woodbridge, VA · Member since 2019 · 162 posts · 64 votes
    5y

    @Kaylee Walterbach As a brand new agent, my number one tip is to buy the book SOLD! It's like my personal mentor, for my first 30 days! Which is invaluable.

    0Reply
  • Tom Hovind
    Real Estate Agent · Haverford, PA · Member since 2020 · 9 posts · 5 votes
    5y

    @Jonathan Greene agreed. In my licensing class the instructor told us he reads through the offer contract, line by line, with his buyers even after 30 years in the business. He does that because they won't read it otherwise and then they'll be surprised by something in it later.

    RE contracts are continually reviewed by the state real estate commission or board and changes can happen at any time.

    1Reply
  • Matthew Irish-JonesBusiness Member
    Real Estate Agent · Buffalo, NY · Member since 2017 · 2k+ posts · 2k+ votes
    5y

    @Kaylee Walterbach

    #1 tip: Tell the truth

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  • Mallikarjun Reddy Pateel
    Investor · NJ · Member since 2021 · 126 posts · 33 votes
    5y

    @Kaylee Walterbach

    Specially for New agent don’t think you don’t have experience and No one wants to work with you.

    everyone has to start Somewhere.

    This Business is all about Mindset. build that Mindset and Know your Market. these days it’s Easy to get Leads but Most agents fail to Follow up, hence they Loose Opportunities.

    0Reply
  • Jason Mileshko
    United States · Member since 2021 · 151 posts · 49 votes
    5y
    Originally posted by @Kaylee Walterbach:

    SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business is available now!

    SOLD provides a much-needed look at how successful real estate agents build their business, close deals, and generate commissions. In this book, best-selling author and expert real estate agent @David Greene shares everything he wishes someone had shared with him—including the exact processes he used to become rookie of the year and top agent in his office.

    Whether you’re a newcomer to the real estate world or a seasoned agent that never got mentorship, this is the book you've been waiting for. Learn from the best, refine your business, and become a top-producing real estate agent in record time. You can get the book, along with some stellar bonus content, on the BiggerPockets Bookstore!

    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?

     Become the local expert, and be of actual service to people. 

    0Reply
  • Michael Nugent
    Real Estate Agent · Riverside, CA · Member since 2019 · 54 posts · 23 votes
    4y

    @Matt M. Potentially the most important advise.

    0Reply
  • Maj Valero
    Real Estate Agent · Laguna Hills, CA · Member since 2019 · 14 posts · 8 votes
    3y

    @Stephen DeThample tips on convincing clients to get pre-approved?

    1Reply
  • Stephen DeThample
    Real Estate Agent · Las Vegas, NV · Member since 2020 · 461 posts · 305 votes
    3y
    Quote from @Maj Valero:

    @Stephen DeThample tips on convincing clients to get pre-approved?


     1) It sets the limits for the house hunt. You don’t want to look at houses that are more expensive than you can afford because then you won’t like anything else that is less expensive. 

    2) It makes your offer more competitive when it’s a true pre-approval and not just a pre-qualify where they haven’t run their 2 years W-2s, or checked their credit. 

    3) When you do find the house you want, your loan will be almost completed. You just need to run the house numbers instead of your personal numbers as well. 

    0Reply
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