Two agents ask Realty Times for help with their marketing. Realty Times has some inexpensive tips to help them launch their careers.
Hello Blanche. I am a new agent. I think your site is wonderful. I do have a question though. How do you know what to go regarding marketing when there are so many options to choose from? I am a bit concerned as I am just starting out and want to do the best possible job I can.
-- New Agent
Good afternoon. My name is Michelle and I am a new realtor (and new to the industry) here in Chicago. I'm writing you to seek ANY information you can direct me to or informative articles you may have for new realtors. I'm trying to find ways to market my business that is the least cost-effective to my current budget. I'm also trying to find a creative slogan that's unique about me, yet focuses on what I can offer the customer. Finally, if you have any training resources related to getting started, prospecting, working with buyers, sellers and contracts, they would GREATLY be appreciated. Whew!
I look forward to your reply! Thanking you in advance!
Realty Times responds with a few suggestions:
Hello, new agents! Marketing can seem like an overwhelming challenge, so let's break it down into tiny bites that you can digest easily.
As new agents, you're likely working on commission. You have a limited amount of time when you can go without income, so the best way to start is to get your name in front of as many people as possible as inexpensively as possible.
That means starting with the people you know.
First, let's define marketing. Marketing means packaging yourself and finding a number of ways to get that package in front of people. Advertising is a component of marketing, which I define as paying media to market to people you don't know.
Obviously, it's cheaper to market to people who know you and already like you than to advertise to strangers who are more difficult to convert into clients. I'm not saying you shouldn't be spending money on advertising, I'm just saying that may not be the best place to start, unless you can find an affordable way to be featured as an expert. This is a shameless plug, but many new people enjoy the push they get as Market Conditions Reporters on Realty Times, where you give the local buying and selling conditions just like a weather report. Consumers who find value in what you say will contact you. It's a great place to start because it's not relevant to whether or not you have listings or experience. All you need is an opinion.
There are many ways you can get in front of people, but it takes practice, the ability to take rejection, and turning personal marketing into a habit. Here's how.
- Start with people you know. To keep your list bite-sized, yet filling for your new business, start by filing people you know into your contact management software. Start with family and close friends. Every name that you input, make sure you call them personally and let them know what you're doing. Keep track of when you called and what you talked about, so you can follow up later. Take notes if job, real estate, or family-related topics come up that could lead to a housing change for your contact. Make it a point to spend at least a couple of hours doing this per day.
Next log in the next ring of people -- friends and acquaintances who aren't quite in your inner circle. You will already have plenty of practice making calls from your first circle, otherwise known as your sphere of influence.
- Organize your time. Your day should be roughly divided into several important segments -- contacting people you know, developing new contacts, learning the inventory (MLS tours, open houses, etc.) and learning sales techniques from your broker and shadowing other professionals.
- Volunteer. Offer to help other agents with their open houses. You'll be added security and you'll get to see other agents in action. You'll quickly learn which habits to pick up and which to avoid.
Join an organization that you are interested in to expand your profile to people who don't know you. For example, if there is a charitable organization that sponsors a school, park, or some other feature in your area, you'll become known to residents of the area. If you like to bike, hike or golf, join a club so you'll be able to incorporate your hobby with meeting potential clients.
- Share marketing expenses. If you can partner with someone, you can play to your strengths. What do you do well and what does your partner do well? Offer to do the job that's hard for the other person so she/he will do the job that you find hard.
- Don't be the needy Rookie. Of course you need more help getting started, but other agents don't make a dime for training their competition. Turn that around by offering them a skill you have in exchange for help with marketing advice.
You should have a clear relationship and set of expectations with your broker. Your broker should be supplying you with training, opportunities to meet clients and the materials and equipment you need to market yourself as part of his/her team.
- Build on your previous experience. You have a skill from your previous occupation that can help you in real estate -- what is it? Are you good with data entry? Good with decorating or organizing events? Whether you were a housefrou or a CEO, you have something you can bring to a real estate career. Instead of focusing on how much real estate experience you don't have, concentrate on marketing the skills you do have.
For example, a lot of teachers get into real estate as a way to supplement their incomes during the summer months. Find out all you can about HUD's Teacher Next Door program and help your former colleagues get into houses they didn't know they could afford. You can set up meetings with teachers, firefighters, and police officers and turn your knowledge of HUD programs into a specialty.
- Attend all meetings and training opportunities. Your broker, franchise and local association all provide training and networking opportunities to help you become more successful. Take advantage.
- Stay away from complainers. Align yourself with the people who are on the scoreboard. While it's natural to associate with the same rank, just because you may not have any sales yet doesn't mean you should become best buddies with the person who comes to the office to drink coffee and socialize.
- Read Realty Times daily. Realty Times keeps an archive of every story we've done since 1997. Use the keyword search to find topics you want to know more about. Our news and advice are free, and if you like the style of one of our contributing coaches on Agent News, you can hire him/her for private one-on-one training.
- Don't be embarassed by your lack of experience. If anyone is afraid to use your services because you are new, tell them that as a rookie that's not a problem. You have just completed licensing and are up-to-date on all the latest regulations, and for the rest, your broker will help supervise your fledgling transactions. Your client will be getting enthusiasm plus experience!
