Paving the Way for New Real Estate Agents: What are Your Next Steps?

Posted On Tuesday, 10 November 2020 21:19

So, you just started your real estate career. Congrats!

And now you’re wondering what the heck to do next.

We’ve got some good and bad news. The Good: A career in real estate can be seriously rewarding for those who are motivated. It not only gives you the flexibility to choose your own schedule but also comes with unlimited income potential.

The Bad: It can be a challenging industry to crack into, especially if you’re a new agent. Statistics tell us that a great many new real estate agents never make it past the first two years. But with hard work and the right guidance, you can ace it. Here are the 5 things new real estate agents should focus on right off the bat.

1. Get a Coach

As a freshly minted agent, you’re completely new to the world of real estate.

You’ve some daunting questions. What do I do next? How do I generate leads? How do I even get clients to trust me with zero experience?

This is where a real estate coach comes into play.

By hiring a real estate coach, you get personal consultancy and guidance from someone who knows how to navigate the murky waters of real estate.

In a 2014 Inman’s survey on Real Estate coaching’s Payoffs, 90% of the respondents said in their first year working with a coach, their business grew by at least 10%. When asked about the other benefits they gained from coaching, popular responses were accountability and motivation.

But that kind of service isn’t free. Expect to pay around $500 per month for the best coaching programs. Ready to get a coach? This guide to the top 30 real estate coaching programs will give you a head start into the right coaching program for you.

2. Build Your Professional Profile

You want every client to know they are dealing with a professional. You’ve got to convince them you’re the right candidate for the job.

Start by building a real estate website.

Make sure to include your contact details—phone, email, physical address, as well as your professional bio on your website. Next, set up social media accounts for your business and use professional photos. For you to stand out, your profile must reflect a professional demeanor.

3. Hire a Professional Photographer

You’ll want to hire a professional photographer to take quality listing photos.  

That’s because unprofessional photos affect the perception of the home and your business, which can cost you leads. When it comes to professional real estate photography, key factors to focus on include lighting, composition, and clarity.

Professional photographers know how to balance all these elements to capture quality photos. Moreover, they can also help you with home staging.

3. Grow Your Sphere of Influence (SOI)

Your sphere of influence are circles of people you already know.

Included in this bucket are friends, family, work colleagues, members of your church, etc. As a new agent, you’re likely to get your first client from your sphere of influence.

Tell everyone in your SOI that you’re now a real estate professional and ask them for referrals. Approximately 82% of real estate transactions come from referrals and word and mouth. So, start checking in with your sphere of influence and reestablishing existing relationships.

5. Explore the Neighborhoods

Many experienced agents have a niche in which they operate.

But as a freshly licensed agent, you don’t have the luxury of having a niche. Your goal is to make sales and gain some real-world experience.

And since you don’t have many clients, use this time to learn more about the neighborhoods. What are the house styles, amenities, and price points? Also, pay close attention to security and any upcoming developments. You’ll need this information when conducting an open house.

Got more tips to help new agents grow their business? We’d love to hear them! Share with us in the comments section below.

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