Sometimes when you’re a new agent it’s hard to know what your priorities should be. In order to be a successful real estate agent long term, withstanding changes in the housing market is important. You need to know how to avoid ups and downs in selling. Ups are always good but we’re talking about consistency here. One year with ten sales is great but if the next year is zero sales it’s simply not sustainable for a career. If you don’t do it correctly you’ll be what I call a yo-yo Realtor. You get your business going and do well and then that success wanes off and you have no business at all. Real estate agent’s income is variable but you don’t want your income dropping off altogether. I want to break down four money making activities that every Realtor should be aware of. Let’s get to it!
Four Money Making Activities:
- The first one is lead generation. This is where all your income starts. You’ve got to start by finding people who want to buy and sell houses.
- Number two is lead follow up. As you’re finding those new leads, you’ve got to follow up and turn prospects into appointments.
- The third money-making activity in real estate is the appointments. This is where you get your leads to become clients.
- Fourthly is the closing process which includes finishing up the sale.
So, how do Realtors, especially new ones, get clients? This can happen in a number of ways. Over time, word of mouth will be your greatest tool. But starting off is going to be a little tougher in that respect. Toss a casual, “I’m a Realtor” into every conversation you have. While it may sound odd to tell your waitress to contact you if ever they need to buy a home, it has to be done. Literally, talk about it, even in passing, to everyone you meet. In social settings it’s common to talk about what you do for a living so feel free to let loose. Beyond that, use targeted ads online and mailers to people in your community. If you can afford a billboard or other signage, go for it! Always present yourself in a helpful and friendly way.
Another way to avoid ups and downs in selling or helping buyers is simply following up. A lot of people love to know that you’re vying for their business. And if you follow up and another Realtor is too busy to do so… You’ll get the client! A successful real estate agent is one that always keeps their clients and potential clients in mind. Anytime you do a mailer go ahead and include a would be client. In between those bulk mailers, send holiday cards and birthday wishes. And don’t be shy – send them via snail mail to their house. That’s the best way to ensure they receive it. Changes in the housing market won’t break you as an agent if you simply keep in touch.
Turning Leads into Clients:
Now, you definitely want to end up with motivated buyers and sellers. That’s the dream, right? Of course a lot of contacts you make will not be people that are serious, that’s okay. Those people may turn in to prospects later on. But, qualified and motivated people are where you can avoid ups and downs in selling real estate. Going on listing appointments and buyer consultations will help you be a successful real estate agent. Changes in the housing market can make this difficult. If there’s not that many sellers you’ll be in competition with other agents to get the listing. Then you have to work extra hard to sell it and that means advertising and finding a buyer quickly.
When it comes to getting appointments with sellers and buyers, don’t be afraid to cold call. You’re a salesperson – sell yourself! Drive through neighborhoods and leave your card. Contact sellers who already have an agent and offer them a better deal. Take less of a commission and work harder than ever. You’ll make less money in the beginning but it will pay off in the future because people will love you. If you take less money and focus on results your clients will most certainly tell their friends about you. But making those appointments and really selling yourself and your services is where you can initially shine. If you can impress a potential client right off the bat, you can make them an actual client.
The Closing Process:
Lastly, you want to close on houses. Getting a bunch of sellers to trust and work with you means nothing if you can’t sell their house. You’ve got to get offers from buyers. Advertising and finding a buyer what they want in a home is how you get offers. If your buyer has a $300k loan don’t show them a $500k house. You want to use a targeted approach by finding a house in the price range and with the features your client wants. You most likely will not be the seller’s agent and the buyer’s agent. So, be willing to work with another agent. Whether you’re working with another Realtor, contractor, buyer or seller you want to have that person’s best interest in mind. But what about your interest, right? I cannot stress this enough; in the beginning you need to set yourself aside.
You will be successful but you have to start with the approach that your client is your main focus. If you can do this for a year, you can avoid the ups and downs in selling. Those clients will put themselves on the line for you; just as you did for them. Your reputation will be out there as a Realtor that truly cares and will take a hit to please your client. Who doesn’t want to work with someone like that? And then the clients will slowly start flowing in, one by one and build up over time. This approach works and will make your career in real estate sustainable throughout time.
NEXT ARTICLE –>> BREAK THROUGH WITH EXPIRED LISTINGS
REAL ESTATE AGENT GUIDE
- WHAT MAKES AN EFFECTIVE AGENT
- FIRST 30 DAYS AS A NEW REAL ESTATE AGENT
- FIRST STEPS FOR NEW REAL ESTATE AGENTS
- CONTROLLING YOUR ONLINE PRESENCE
- HOW NOT TO BRAND YOURSELF
- AVOID THE UPS AND DOWNS IN SELLING
- BREAK THROUGH WITH EXPIRED LISTINGS
- FIND CASH BUYERS – YOU NEED THEM
- HOW TO GET MORE LISTINGS – PREPARATION
- GET MORE REFERRALS
- HOW TO GET SELLERS TO PRICE IT RIGHT
- GET YOUR 1ST DEAL FAST AS A NEW AGENT
- JOIN A TEAM OR GO SOLO
- FAST WAY TO BUILD REAL ESTATE BUSINESS
- BUYING INTERNET LEADS DOESN`T WORK
- WHY MOST NEW REALTORS FAIL
- WHY REAL ESTATE IS FOR ENTREPRENEURS
Real Estate Agents: Are YOU Listed in the USDRE ?
The USDRE is a free search engine that home buyers and sellers use to find their ideal real estate agent. We have a custom search-algorithm called Agent Match that analyzes people’s values, beliefs, and outlook on life to match them with Agents that they will work well with on both a personal and professional level.