If you’re considering real estate as a career, or you’ve just gotten started – these 3 secrets can make a difference in your success story in real estate.
Many agents never make it through their first two years. Mostly due to its high expectations for income and a real let-down when they’re not doing deals like they thought they would. Just because you go into the real estate business and tell all of your family and friends, doesn’t mean that you’ll start receiving tons of business referral from them. You may get a few from family, but don’t forget that your friends have other friends and they may be in real estate as well.
Then, there’s relying too much on whatever advertising the internet does for you. Don’t think that there will be leads coming in every week from your mention on your website or in the sponsored advertising. Yes, every enquiry is a potential sale/commission. Don’t look down on any prospect, as you may regret it. One of the biggest deals one new agent did her first year was because nobody else in the office wanted to work with the buyer with dirty and torn clothing. He turned out to be the owner of the local trash company.
- THINK SMALL FOR BIG REAL ESTATE AGENT BUSINESS GROWTH
Expectation hurts. Thinking small doesn’t mean not planning for growth and success in this article. It’s about understanding your status as an independent contractor and setting up your business practice and marketing to maintain your business status.
- DEVELOP A BUSINESS PLAN AND STICK TO IT
Beginning a new career as a real estate agent is exciting and you’ll want to hit the ground running. Your long-term success depends on many things, but a good beginning real estate business plan is one of the most important.
Don’t let your excitement and enthusiasm to get a client right away keep you from the all-important business planning and budgeting tasks. The tools and instructions here will help you to focus on important business practices and get a fast start on building your prospect base without spending a lot of money.
- DEVELOP A BUDGET AND STICK TO THAT
It’s critical in your real estate agent career, that you not only cover your real estate agent expenses but your personal living costs as well. Write down your personal living expenses and don’t leave out anything, including something as little as cash out of pocket for fun or coffee. Write them out and miscellaneous too so that you will be prepared for unforeseen expenses and never run out of cash.