10 Ways to Crush Your First Year of Real Estate

Posted by Keystone Custom Homes
Categories: News,Tips

Small_001Your first year as a realtor can be intimidating. Make the most out of your time as a rookie with these tips on how to crush your first year.

Make the Most out of Your Rookie Year

There are many different techniques realtors use to crush their first year, but unfortunately, most of them don’t have a clue where to start and how their first year will go. With these 10 simple tips, your first year will seem like your fifth year!

Get a Mentor

Most of your real estate knowledge will be gained only after you’ve gotten your license and taken your first client. In this business, you learn lessons the hard way most of the time. Having a mentor to guide you through your first few transactions can make or break your career. Leaning on a mentor is good for multiple things including: understanding, filling out, and reviewing contracts; what to spend your money on; how to run the brokerage’s in house software; and advice during negotiations. A good mentor is simply invaluable and completely necessary. Keep in mind, most mentorships come with a timeline or transaction and compensation agreement. It’s completely normal for your mentor to receive a portion of your first 3 transactions if they’re fulfilling their duties and helping you through those transactions.

Choose your tribe wisely

Who you decide to surround yourself with is who you’ll become so try to be selective of whom you hang with.

Skip the “business beers”

It won’t take long for you to figure out who’s who in the office, and there are always those agents that go out for lunch and a beer seemingly every other day. You can write this off as a ‘business lunch’ but people are unlikely to be talking business at noon with a beer in their hand. Limit yourself to one agent outing per week at most. Look at the production of agents who go out for lunch every day. Is their production where you want to be?

Pop in on top producers

Seek out agents in the office who have productions levels and business models that match your goals. Pay attention to what their schedule looks like and how often they’re marketing, doing open houses, and have clients in their office. Some of these agents won’t have as much time to devote to you but popping into their office for a quick 3-minute greeting a few times a week can form a relationship and create an environment that makes you more comfortable asking them for advice every occasionally. While you’re visiting them, ask them if there’s anything you can do to help them out.

Don’t hang with other rookies

You’re a rookie and there are others in your office, but that doesn’t mean the blind should be leading the blind. You don’t have much to learn from another rookie; not as much as you could from a seasoned agent anyway. Limit your time with them and make the top producers your focus in terms of networking and building relationships.

Pack your lunch

Eating out adds up quickly and early on in your real estate career you’ve got a tight budget to stick to. Not only will packing your lunch save you money, it will afford you more time to build your business. While others are out having lunch and beers, you can be a good rookie and eat lunch at your office. Here are a few things to do with this added hour of your day.

Tale someone’s floor time that they couldn’t cover

Send off 10 Facebook messages to people in your database

Write a hand-written note to someone in your database

Read over the buyer representation and agency contracts three times each

You can’t keep up with the Jones’s

Try not to compare your first few months in real estate to someone else’s 10 years of hard work and experience. You simply cannot spend time putting yourself down for not owning the type of business they’ve has so much more time to build. Going out to buy a luxury car, the newest laptop, or spending crazy amounts on marketing just isn’t going to go well. Your business simply cannot support those expenses at this point and that’s okay. You’ll get there… if you don’t blow it while you’re new. Be patient with yourself and have a business plan to keep you on track.

Set goals the right way

The game changer is knowing how to set, track and celebrate your goals.

Set a goal for the year:

Break it down into monthly goals/action steps

Break those down into weekly goals/action steps

Break those down into daily goals/action steps

Repeat steps 1-4 for each yearly goal you have

Work your sphere

As a new agent, your sphere is the only viable marketing campaign that you have in reach. It’s also the most cost effective way to get a few quick sales and build a strong referral business that will last for many years to come. The only way to fully take advantage of your sphere is to first know who’s in it.

Dress for the appointments you want

The reality is that when you’re starting out in real estate you won’t have the number of appointments lined up as you’d like but dressing as if you have a day packed with showings and listing appointments will do a few things for you.

You’ll be more inclined to go out to meet with prospects

You’ll look more professional to the other top producers in the office, garnering more of their trust.

You’ll be ready for floor time or last minute showings

It will boost your confidence and you’ll find yourself speaking and behaving in a more professional manner.

With these tips in mind, you’ll crush your time as a rookie and look like a seasoned professional in no time.

 


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