Newly Licensed and Lost?
Issue 50 - September 17th, 2021
You just got licensed; you have joined your first brokerage firm, and now you are wondering what in the world you are supposed to do next to start churning up business.
The first year of a new agent's life is a whirlwind, and if you can make it through your first few deals then you will be setup for a successful career where the sky is truly the limit as you keep growing your business. There will be some boring days and there will be some crazy days, but if you just consistently keep working your network and learning your market then you will succeed.
Treat every early customer like they are the only person in the world and build off successful client transactions to expand your network with their friends and other contacts. The best way to earn more business is to do an excellent job on your first few deals and ask for referrals. When you have slow days, go drive or walk areas where you want to sell properties and learn every little thing you can about the neighborhood. Go knock on your neighbor’s door and introduce yourself. Memorize the cross streets of your favorite neighborhoods, learn the school districts, know the best kept secrets on local restaurant menus, and just continue to emerge yourself in the area. Real estate is a momentum game and as soon as you get the ball rolling with a few deals then it will be hard to stop! Check out the following tips for some other helpful ideas for the early days, and I wish you the utmost success as you immerse yourself in this incredible industry.
9 Things I Wish Someone Had Told Me When I First Got Started:
Shout from the rooftops to your network of friends and family that you are now a real estate agent, and take the time to go meet with them to tell them what you do and how you can help.
Don’t be afraid to ask for help. Bring in a seasoned agent at your firm and cut them into your commission to show you the ropes if you are not sure of everything when you get your first client. Seasoned agents love to help new agents, BUT you have to show your willingness to learn. Don’t just ask questions without context and waste a busy agent’s time. Try to solve an issue on your own before you go to them for advice.
Don’t assume that just because you are licensed that all of your friends will start using you to be their agent. PROVE to them your value and work hard to earn their business. Assuming your friends and family will use you as their agent will only hurt your feelings when they go with someone else. EARN THE BUSINESS!
Use a blend of old school and new school marketing tactics. Handwritten letters work and grab people’s attention, but don’t forget to chronicle your successes, learnings, and new listings on your Instagram and TikTok pages too.
Video content is a gamechanger and don’t be afraid to put yourself out there in a video on your social pages. Live video content gives people a glimpse of your personal side which leads to a connection which leads to a new potential customer. House searching is a personal endeavor and a lot of people choose agents who align with them on life stages and other similarities so let your personal side shine in your social media.
Don’t be afraid to say “I don’t know, but I will find out ASAP and get back with you” if a client or potential client asks a question you are unsure of the answer.
Lean into your inexperience and tell early customers that you have all the time in the world to dedicate to their listing or house hunt. Don’t be afraid to be honest and you will find early customers who respect your work ethic and dedication to their house selling or searching efforts.
Work hard to keep up with market trends and network with other agents in your area. Drop by their open houses to support them and introduce yourself.
Keep a positive attitude and find other new agents in your area to meet with regularly to support each other in the early days. Accountability helps big time when you are feeling lost or unsure of what to do next on a deal or a client issue.
Newsworthy Links To Share
Compass agrees to acquire Dallas,TX based LegacyTexas Title. (PR Newswire)
Half of American workers want to work from home forever as the pandemic continues to delay office reopenings. (Inman)
Real estate tech disruptors are investing billions to build integrated brokerage and mortgage experiences. Some have more resources than others, but all have the same scaling bottlenecks. And in the end, the biggest disruptors -- and who is most at risk -- may come as a surprise. (Mike DelPrete Blog)
Freddie Mac will reduce down payment requirements on primary residences for borrowers with incomes up to 80% of the area median taking out mortgages secured by 2- to 4-unit properties. The revisions to underwriting through Freddie’s Home Possible program strive to fulfill the Biden administration’s recently announced affordable housing goals.
Samsung has chosen Taylor,TX just outside of Austin for a new $17 BILLION dollar chip plant further cementing Austin’s dominance in tech relocations. (Austonia.com)
Roofstock, a single-family rental investor platform, plans to launch a fractionalization service later this year to capture the surge in retail demand for single-family rental product. Investors will be able to put as little as $5,000 to work in the investment product.
Mynd, a company that aims to make it easier for people to buy and manage single-family rental properties, announced it has raised $57.3 million in funding from QED Investors. (TechCrunch)