Any tips for a new agent?

Question

Hey guys I have recently become an agent and am looking for experienced agents to provide some tips and tricks of the trade to a new agent like myself. Feel free to go off!!

Jonathan Greene · Answer

Build relationships and don't get commission breath. If you want to work with investors, you are always playing the long game. There are A LOT of fake investors that will burn your time so you have to be very good at asking questions to vet them so you spend your time on the good ones. If I was a new agent now, I would join a team at a brokerage right away. You can not do anything as an inexperienced solo agent right now and most brokerages will be happy to take your money and not train you.

Bruce Woodruff · Answer

Funny stuff..... :-)

Bruce Woodruff · Answer

As a long-time investor and a former realtor myself.....1) Be honest beyond all else 2) Communicate like crazy - always return calls immediately if not sooner 3) Be the outside-the-box idea guy, present the buyer with options they haven't thought of....there is never a problem that can't be solved....

Charlie MacPherson · Answer

@Mike Eichler  I also focused on investors when I got licensed and I'll warn you that the investors who are ready, willing and able to transact are few and far between.  If you can find them, treat them like gold.

I concentrated on rehabbers because it looked like 2 commissions.  A tiny crappy commission on the crappy house that was in crappy shape.  But then, a much nicer commission when I sold the rehabbed house.  That sounds good if you say it fast, but I can't tell you how many showings I did in abandoned, frozen, mold-infested foreclosures, only for the "investor" to decide that it needed too much rehab.

You will run into many, many more "investors" who will tell you that they're investors, but in reality, are dreamers.  They've seen a YouTube video, gone to a guru course or even stumbled upon Bigger Pockets and know how to talk a good game - but that's all.  They are neither ready nor able to buy.

You'll want to filter out these time wasters as quickly as you can, because time is all you have and these people will suck your calendar dry.

Start by asking how many deals they have completed and get a proof of funds.  Be aware that many hard money lenders let you print your own proof of funds documents.  Those aren't worth the paper they're printed on.

I got out of real estate almost 2 years ago for much greener pastures.  Looking back on my years in real estate, I think I would have done far better just concentrating on retail buyers and sellers.

Good luck!

Bob Okenwa · Answer

1. Answer your phone. You'd be surprised how difficult of a chore it is getting agents to pick up the phone or return an email/text.

2. As others here have stated, be wary of fake investors. Qualify leads by asking their experience level and for proof of funds. You can usually find the more serious people will have their ducks in a row and will have specific criteria in a specific area and be ready to go when an opportunity arises.

Michael J. · Answer

What is your focus going to be?  Working with other investors?  first time buyers?  Don't be a secret agent.  Tell everyone you come in contact with that you are a realtor and can help them buy or sell a home.

Mike Eichler · Answer

I appreciate the advice, I am mostly looking to be working with investors. I love the advice of telling everyone about what I do.

Any tips for a new agent?

Most Popular Reply