How To Win Buyers And Influence Sales with REAL ESTATE AGENT

Every time I speak to someone about my business and career, it always arises that “they’ve thought about engaging in real estate” or know anyone who has. With so many people thinking about getting into real estate, and getting into real estate – why aren’t there more successful Realtors in the world? Well, there’s only so much business to go around, so there can only be so many Real Estate Agents in the world. I feel, however, that the inherent nature of the business enterprise, and how different it really is from traditional careers, makes it difficult for the average indivdual to successfully make the transition in to the Real Estate Business. As a brokerage, I see many new agents make their way into my office – for an interview, and sometimes to begin their careers. New Real Estate Agents bring lots of great qualities to the table – plenty of energy and ambition – but they also make a large amount of common mistakes. Here are the 7 top mistakes rookie REALTORS Make.

1) No Business Plan or Business Strategy

So many new agents put all their emphasis on which Real Estate Brokerage they will join when their shiny new license will come in the mail. Why? Because most new Real Estate Agents have never been in business for themselves – they’ve only worked as employees. They, mistakenly, believe that getting into the Real Estate business is “getting a new job.” What they’re missing is that they’re about to go into business for themselves. If you’ve ever opened the doors to ANY business, you know that among the key ingredients can be your business plan. estate agents Your business plan can help you define where you’re going, how you’re getting there, and what it does take for you to make your real estate industry a success. Here are the requirements of any good business plan:

A) Goals – What would you like? Make sure they are clear, concise, measurable, and achievable.

B) Services You Provide – you don’t wish to be the “jack of all trades & master of none” – choose residential or commercial, buyers/sellers/renters, and what area(s) you would like to specialize in. New residential realtors tend to have the most success with buyers/renters and move ahead to listing homes after they’ve completed several transactions.

C) Market – that are you marketing yourself to?

D) Budget – consider yourself “new agent, inc.” and write down EVERY expense that you have – gas, groceries, cellular phone, etc… Then write down the new expenses you’re dealing with – board dues, increased gas, increased cell usage, marketing (very important), etc…

E) Funding – how are you going to pay for your allowance w/ no income for the initial (at least) 60 days? With the goals you’ve set on your own, when will you break even?

F) Marketing Plan – how are you going to get the word out about your services? The simplest way to market yourself would be to your own sphere of influence (people you know). Make sure you do so effectively and systematically.

2) Not Using the Best Possible Closing Team

They say the greatest businesspeople surround themselves with people who are smarter than themselves. It requires a fairly big team to close a transaction – Buyer’s Agent, Listing Agent, Lender, INSURANCE PROFESSIONAL, Title Officer, Inspector, Appraiser, and sometimes more! As a Real Estate Agent, you are in the positioning to refer your client to whoever you choose, and you should guarantee that anyone you refer in will be a secured asset to the transaction, not a person who will bring you more headache. And the closing team you refer in, or “put your name to,” is there to make you shine! When they perform well, you can take part of the credit as you referred them in to the transaction.

The deadliest duo out there is the New AGENT & New Mortgage Broker. They gather and decide that, through their combined marketing efforts, they can take over the planet! They’re both focusing on the right part of their business – marketing – but they’re doing one another no favors by choosing to give each other business. In the event that you refer in a bad insurance professional, it might result in a minor hiccup in the transaction – you make a simple phone call and a fresh agent can bind the property in less than an hour. However, because it typically takes at least two weeks to close a loan, if you use an inexperienced lender, the result can be disastrous! You might find yourself in a position of “begging for a contract extension,” or worse, being denied a contract extension.

An excellent closing team will typically learn than their role in the transaction. Due to this, you can turn to them with questions, and they’ll step in (quietly) when they visit a potential mistake – since they want to assist you to, and in exchange receive more of your business. Using good, experienced players for the closing team will help you infinitely in conducting business worth MORE business…and on top of that, it’s free!

3) Not Arming Themselves with the required Tools

Getting started as an agent is expensive. In Texas, the license alone can be an investment which will cost between $700 and $900 (not taking into account the number of time you’ll invest.) However, you’ll come across even more expenses when you attend arm yourself with the necessary tools of the trade. And don’t fool yourself – they are necessary – because your competition are definitely using every tool to help THEM.

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