New agents face a steep learning curve in the real estate industry. Although critics of the profession say it takes too little education to get a license, few deny the very real financial investment and risk and the sink-or-swim entrepreneurism required to make a real estate career successful.

Stephen Gore, director of education at the Henry S. Miller University, a learning institution operated by the country's sixteenth largest independent brokerage, is convinced that initial success boils down to a few basic principles. These precepts teach the agent to avoid pitfalls and how to take advantage of their rookie status.

"There are several pitfalls for new agents," says Gore, a 12-year training veteran. "And the biggest is that they want the business to come to them."

"They don't want to go out and actively pursue the business," says Gore. "New agents often aren't prepared for the cold calling and other steps it takes to develop a business."

"One reason is that too many new agents view real estate as an extension of their social life and that is because it has always been a business in which you can work off of people that you know. When you start out helping friends and family with their housing needs, it doesn't "feel" like a business, so they don't look at it as a business. Family and friends are patient while you learn, but sooner or later, you have to begin working with people you don't know."

Gore believes that erroneous perceptions about agents and how they make their income is to blame for many new agents getting off to a poor start.

"Most people outside of the business perceive that we are company employees, drive expensive cars, eat at expensive restaurants and collect big commission checks. So they come into the business thinking it is going to be that way without having a plan to make it happen," explains Gore. "New agents must realize that they are opening up their own business, and one that is increasingly competitive and sophisticated. They have to have a business plan."

According to statistics compiled by the RS Council, an affiliate of the National Association of REALTORS®, 80% of transactions are done by 20% of the agents. Some designations which lend Realtors additional credibility, and helps them establish a niche, such as the Certified Residential Specialist (CRS) designation can only be obtained after years of experience and course work. Competition to appear the most professional is intense, which may make some new agents feel like giving up before they even begin. But Gore believes that new agents have a special advantage.

"New agents have the opportunity to jump in on the leading edge of technology and to grow with it. They can adapt to the changes that technology is bringing to the industry. They don't have a fear of letting go of another way of doing things."

"There is a lot of fear by veteran Realtors that technology will replace the agent, but it will never replace the human touch. Technology is a very useful tool to help the agent work smarter, faster and be more productive," advises Gore.

Gore's mission at the Institute is to teach agents how to give outstanding service before, during and after the real estate transaction to build customer confidence in the brand name Henry S. Miller, Realtors. Training for new agents concentrates on customer service, professional business practices and translating technology trends into practical tools for the agents.

"My goal for new associates is to have them believe in themselves," says Gore. "I teach the three C's - confidence, courage and conviction."

"Confidence comes from having command of the tools of the trade, understanding the contracts, addendums and other documents that they will be working with to produce a happy and rewarding outcome to each transaction. Courage is to meet the daily challenges of balancing both personal and professional demands with humor, a business plan, and a really good day planner. Conviction is to know what is right and fair and what constitutes good business practices - to make the commitment to conduct business on the basis of honesty, fairness and integrity."

Published: December 3, 1998

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