Hello. I am a new agent. Looking for any advise someone would like to give me for getting started in such a high demand market that we currently have. Luckily for me, I am not a full time agent and have other sources of income, but still plan to build a book of business. Any advise or tips would be wonderful! Thank you!
@Steven Hayes congrats on getting your license! Being a realtor is such a wonderful opportunity to serve others, build relationships and make a fantastic living. I got a lot of value early on out of a book by a fellow BP member that I always recommend called How to Make it Big as a Real Estate Investor by Mark Ferguson. That book was probably the best $12 I spent a few years back and the basic principles in that book helped me stay on course as I built my business.
Welcome! I made the jump from Investor/Military Officer to a full-time Realtor a few months ago. Few things that helped me really jumpstart:
1) Who you work with matters: Your brokerage is more than just a name, I am with Keller Williams Boise, and most people love to knock on exp/KW/local brokerages for the stigma's surrounding them but the bottom line is, it's a name. The people that are within that local organization are where your money is made. I interviewed several brokers and what I gathered was this: Most exp agents were trying to "recruit me to their downline" and not necessarily wanting to bring me on their team. Saw this with a few KW agents as well. The local brokerages for the most part were mainly about "low fees" but offered little training/technology/Support. These are mainly generalizations and my personal opinion, not "factual" in nature.
2) Find a team and join it! If you listen to the podcast I'm sure you've heard David constantly talk about how we've lost the mentality of apprenticeship, this is true. I'll be upfront- it was an ego gut check for me personally after making it so far in the military and having a pretty solid knowledge of real estate (about 9 years investing) to be a new agent on a team giving up a good split. But, you're paying for more than just the brand, you're getting mentorship, an inside view of how their team and systems/processes work, and you can evaluate and decide if you like this model or if you want to build your own brand in the future.
3) Hold open houses for EVERYONE! I volunteer every weekend and try to do 2/3 a weekend. I've found what works best for me is not scripting and being a typical sales-minded agent and really just enjoy talking to people. I've never had a sign-in sheet, I leave some contact cards for people to fill out and never ask for them to fill them out unless they want to work with me. Most people would scoff at this, moral of the story? Do what you're comfortable and natural at and it will come to you with small adjustments, don't read some Ben Kinney scripts verbatim at an open house, and expect your robotic reactions to garner any real interest.
4) Network your butt off! I've taken more seasoned agents to coffee just to pick their brains than I can count in the past few months. And I have yet to regret that 5 dollars I spent on coffee, people like @Corby Goade who run successful teams but always take time to reach down and be a mentor are a god sent, and I'm sure there are several in your market that would be willing to do the same.
5) Last but not least, even if it's your part-time gig, for now, give your clients your full-time attention. No one likes a half-assed approach at one of the largest financial decisions the average American will make in their lifetime. Educate yourself, ask questions and be honest. If you don't know something tell them how great of a question that is and that you want to ensure you get them the most up-to-date info and go find it!
Read @David Greene 's book Sold. I'll be honest, I usually laugh when people tag him in stuff, so I am doing it just to make fun of myself. But in all reality. I have been through that book twice already and I am sure it will be a resource I go back to as I refine my own business model.
If you have specific questions or just want to chat, reach out. I love a good reason to try and find a reason to not do telephone prospecting haha. Heck, I can even sales pitch you to add you to my downline at KW if you'd like!- Kidding, kind of.
Good luck man, don't get discouraged.
@John Warren Thank you for your input. I truly appreciate it! I will definitely purchase that book.
@Eric Giovannucci THANK YOU! These are amazing tips and advise. I am grateful you took the time to write them down and send them to me! I am currently going through the broker interview process and it has been interesting to say the least. Again, thank you again for taking the time to write this down. I will be saving ALL of it!
Hey! What part of Texas are you in?!
Focus 100% on listings. It can be very tough working with buyers in this market. Almost all listings should sell, even if you are not good pricing them, not good negotiating for a realistic price from the seller, the house is ugly, the house needs updating, the house has issues....they all still seem to sell.
@Katie Greenman Fort Worth and surrounding area.