It can be frightening to be a new real estate agent.
It’s a new world for you. You aren’t paid a salary. You didn’t learn much in real estate school that would actually help you succeed in this field.
There are numerous resources available to assist you in breaking into the real estate market. In this post, we’ll go over 19 new real estate agent tips that can help you succeed. From obtaining your real estate license to creating a database and finding accountability, these are some of the essential tips that can help new real estate agents succeed in their markets.
1. Obtain Your Real Estate License
The first and most important real estate agent tip for newcomers is to get a real estate license. After all, you can’t work as a real estate agent unless you have a license, so taking the required courses is a must.
There are a few steps you must take to obtain a real estate license. To begin working toward your license, take the following steps:
Step 1: Research your state’s requirements
There is no national real estate license, so you must research the requirements in your state. Age, education, exams, background checks, continuing education, fees, and other factors may vary by state.
Step 2: Complete a pre-licensing course
No matter which state you want to get your real estate license in, you must first complete a pre-licensing course, which can be completed at a local real estate licensing school.
Step 3: Pass your real estate licensing exam
Your pre-licensing course will prepare you for your final exam, which will cover the practises, regulations, and laws in the state in which you are applying.
Step 4: Activate your real estate license
You will be able to activate your real estate license and become an official real estate agent once you have passed your real estate exam.
When it comes to getting your real estate license, you don’t have to go it alone. Enrolling in a real estate coaching program can help you hone your skills and grow your business as a new real estate agent.
2.Consider Joining a Team
A valuable real estate agent tip for new agents is to begin by joining a team rather than going it alone.
A team will put you in close quarters with others who have experience, allowing you to learn the ins and outs of the industry more quickly.
Teams can also offer advice to new real estate agents on how to improve their practises and become more successful in their roles. If you’re new to real estate, learning from an experienced team can help you understand what to expect.
Joining a team can also help with lead generation right away because they may be willing to share leads with you.
3.Consider Starting as an ISA/OSA
Inside (or Outside) Sales Agents (ISAs/OSAs) are in charge of following up on leads and scheduling appointments.
Starting as an ISA/OSA can help you get your foot in the door and gain the experience you need to succeed. Being an ISA can hasten your career by putting you right in the middle of the action from the start. You’ll learn how to prospect, speak with clients, build rapport, qualify prospects, and learn about people’s motivations, wants, and needs, among other things.
This path isn’t for everyone, but it’s worth considering putting yourself out there for six months or so rather than sitting around waiting for your phone to ring.
4.Interested or Committed?
Unfortunately, the market does not require more part-time, partially engaged agents, so you must decide whether you are merely interested in this career path or fully committed to it. While this new real estate agent tip may be difficult to accept, sitting down and determining whether this is truly the right career path for you can help you gauge your motivations and story.
Those who succeed in this business are fully committed to doing everything in their power to succeed and to provide a seamless, five-star experience from beginning to end.
Which is it, then? Are you fully committed or just dabbling?
5.Play the Long Game
Another crucial real estate agent tip for beginners is to recognise that real estate sales are not a “overnight success” type of business.
You must recognise and accept that you are embarking on a five-year marathon, not a sprint.
Before you get discouraged, remember that while doing the things on this list can speed up your progress, it is still a process. Real estate success takes time and disciplined action, so you must be in it for the long haul rather than just for a quick buck.
That being said, you must discover your “why.” Knowing why you are getting into real estate can help you stay focused and work toward your objectives. Anne believes that having a reason for getting into real estate and why you’re going to hustle beyond “to make money” or “to sell a lot of houses” is critical. What does success mean to you? Spell it out in great detail, and keep your “why” visible and visible at all times to keep you motivated.
6.Know Your Story
Knowing your story is essential for becoming a successful real estate agent, but it isn’t always easy to figure out. To figure out what drew you to the real estate industry, consider the following questions:
- Why are you getting into this business? Because of the low barrier of entry, or because you genuinely want to help people and believe you can build a thriving business by doing so?
- What makes you different?
- Why should someone choose you over the competition?
- What motivates you every day?
- What are you trying to accomplish?
All of these questions must be answered, and you must have a compelling story about how you got into real estate. It may require some soul searching, but it is critical to define who you are, who you are for, why you are doing it, and why you are better.
Finding answers to those questions will also help you build confidence more quickly. That is significant.
7.Track & Measure Everything
To track and measure everything is a crucial real estate agent beginner tip. You should get into some habits right away before they become challenging to maintain. The most important of these is keeping track of and measuring everything you do, which entails gathering, evaluating, and comprehending data. This is among the most crucial advice for new real estate agents on the list because it enables you to make defensible decisions.
For instance, how many leads are converted into sales? Are your marketing efforts reaching the intended demographic? Data and analytics allow you to collect numbers to see how you’re doing and whether your lead conversion or marketing efforts are working, or if you need to change course to meet your objectives.
In today’s world, data is everything, and the more you know about your numbers, the more certainty you can bring to your business. It’s critical to understand what metrics you should be tracking, such as appointment setting conversion rates, emerging trends, and so on.
8.Know the Market
Knowing your market inside and out is one of the quickest ways to build confidence (and speak confidently).
I’m talking about daily MLS research so you can develop talking points to share with your network and prospects. You must understand what is selling, how quickly it is selling, what is not selling and why, what is happening with interest rates, and other factors.
The more you practice this, the better you’ll be at identifying trends and guiding your clients to successful outcomes. In addition to these important market characteristics, you’ll need to be well-versed in talking points such as:
- Schools
- Crime rate
- HOAs
- Public transportation
- Community
- Neighborhoods
Make market research a part of your daily morning routine if you’re a new real estate agent. And that’s not all there is to creating a morning routine. Follow this advice:
9.Know the Answer to “How’s the Market?”
As a real estate professional, you’ll quickly learn – especially as things return to normal with increased social interactions – that there’s one question you’ll hear more than any other: “How’s the market?”
Many agents make the mistake of responding with a simple “It’s good” or “I’m busy,” but these responses are ineffective. It’s best to memorize a real estate script that can assist you in answering this question, such as asking clients what their intentions are, such as buying, selling, investing, or renting.
Inquiring about clients’ intentions starts a conversation in which you can explain whatever situation they mention.
Another real estate agent tip is to interact with clients who are undecided or simply curious about the market. When you ask them why they’re interested, they may open up about their own motivations or someone they know who may be making a move soon.
Mastering your script can help you engage leads and clients in order to make conversions that will help your business grow. However, it is also critical to understand current events and how they may impact the real estate market. Creating a new script for the pandemic, for example, can help you find their motivation, but the process takes a different path.
When they inquire about the market, you can be honest and explain how difficult it is due to a lack of inventory, a surplus of buyers, and mortgage rates at an all-time low. Honesty is a great way to establish trust with your clients and to lend an empathetic ear by asking how they’re doing and how the pandemic has affected their housing needs.
When you meet their needs, you’ll build a strong relationship based on trust that can lead to success.
10.Build and Organize Your Database
Staying organized is a new real estate agent tip that should not be overlooked — and this can be accomplished by using the CRM your company provides for you and beginning to build a database.
When you have your CRM up and running, begin by uploading every contact from your phone.
Then, think about who else is in your orbit, such as family members, club members, church members, service providers such as hairdressers, doctors, former coworkers, and so on, and include them as well. A large network of contacts can help you get referrals, spread your name, and expand your real estate business.
11.Choose Two Additional Lead Sources
Marketing is critical to running a successful real estate business. This new real estate agent tip will assist you in growing your brand and reaching a larger audience, resulting in more leads.
Starting out, one of your primary lead sources should be your database/sphere.
In addition to your database and sphere, it is recommended that you identify and implement two other lead generation pillars.
These are the top five sources of information used by our coaching members, who average 36 transaction sides per year:
- Database
- Geographic farming
- Digital advertising
- Open Houses/Virtual Open Houses
- Circle Prospecting around recent sales/ Yikes Campaign
These are just a few of the ways you can get more leads. To generate and convert more leads in less time, you can also use resources such as real estate agent tools and case studies.
12.Get Comfortable on Video
Nothing connects with today’s consumers as quickly or as effectively as video. If you’re camera shy or don’t like the sound of your voice, practice and get comfortable. Speaking in front of a camera will become second nature over time.
The key to making an effective video is to act as if you’re speaking directly to an old friend or client.
When it comes to video topics, the possibilities are endless, but here are a few that you could create on a regular basis:
- How’s the Market – Providing regular market updates
- Did You Know? – Educating the public about real estate issues
- Around Town With… – Feature local businesses, activities, destinations, all demonstrating your connection to the community
It’s worth noting that these aren’t all strictly real estate-related. Talking about a variety of topics can help you attract more viewers and gain more attention.
13.Get on Social Media
This real estate agent tip should go without saying, but make sure you’re on social media.
Additionally, be yourself!
You can show people the business and personal sides of yourself on social media platforms such as Facebook, Instagram, Twitter, TikTok, and Youtube. Allow them behind-the-scenes access, educate them, and reveal your personality and sense of humor—all of these are ways to engage your audience and be more personable.
14.Practice Your Scripts
Because practice makes perfect, you should spend time every morning practicing your scripts before meeting with clients. You can improve your speaking confidence and ease the process of selling homes by memorizing your scripts.
To practice, find a role-playing partner, such as your spouse, children, friends, family members, or coworkers. Spending just a few minutes a day memorizing your scripts will demonstrate to your clients that you are knowledgeable and an expert in your field.
At Tom Ferry, we have a variety of resources available to you, such as our real estate script book, which you can review before any important meeting. Practicing scripts is an excellent way to boost your confidence and sharpen your skills.
15.Make Your Calls
Making calls is an important part of the job, even if it isn’t the most exciting new real estate agent tip. A simple 3-2-1 plan, which goes as follows, is an easy way to make calls:
- 3 hours of prospecting calls or other lead generation
- Identify 2 leads
- Set one appointment
You’ll be a huge success in this business if you stick to that plan every day. The key, however, is to do it on a daily basis, not just when you feel like it.
16.Strategize & Implement
As a new agent, you must develop three strategies: an email strategy, a direct mail strategy, and a social media strategy.
Don’t just go by ear. Sit down, do the work, and learn best practises instead.
Then, make sure you implement, stick to your plan, and review metrics on a regular basis to see if any changes are required.
Constantly educating yourself and keeping up with industry news and trends is an important part of strategizing. There are numerous resources available online to help you improve your strategy, whether it’s creating an email marketing campaign or expanding your social media presence.
17.Master Your Presentation Skills
“It’s all about asking the right questions. That’s how I got a head start.” Anne Schreiber’s
“Know your audience” is one of the most important sales and marketing maxims. This is especially true when it comes to listing presentations. Anne makes an effort to tailor her presentation to the personality type of the homeowner. For example, she understands that if they are highly analytical, seeing the data will be critical. Others may be more concerned with neighborhood amenities and lifestyle. Match your presentation to the individual rather than forcing the homeowner to conform to your “one-size-fits-all” presentation.
You shouldn’t be too picky about who you work with as a new agent. Every transaction, every showing, every renter, every buyer, every seller, and every investor teaches you something new. Even if it doesn’t lead anywhere, it’s a valuable learning experience.
But, at some point, you’ll probably want to focus more on listings as your primary rainmaker, which means it’s never too early to perfect your listing presentation.
Use your company’s statistics if you haven’t yet established your own to show a potential seller. Rehearse your presentation with friends several times. It’s also a good idea to record yourself and play it back to identify areas for improvement.
The more comfortable you become presenting to clients in order to win their business, the faster you will rise.
18.Be a Sponge
Reading books, going to events, finding a mentor, and shadowing top producers are just a few ways to become a lifelong learner in the real estate industry.
There is no such thing as “learning too much” at this point in your journey, so take the time to observe how different people do things. Learn everything, apply what you like, and discard what you don’t.
There are also plenty of tools and resources available to help you improve your skills. Listening to the Tom Ferry Podcast Experience, for example, is an excellent way to learn new strategies, stay current on emerging trends, and compete in the real estate industry.
19.Find Accountability
As a new agent, everything you need to do to be successful may appear manageable – for the time being.
However, things move quickly in this industry, and before you know it, you’ll be drowning in missed calls and unfiled paperwork.
When you let your guard down, you’re suddenly strapped into the “real estate rollercoaster” – rich/poor, lots of clients/no clients, high life/totally stressed out.
That is why, as a sole proprietor, consistency is critical.
You will never reach your full potential if you do not maintain discipline on a daily basis.
Accountability is essential for remaining a successful real estate agent.
You need someone to hold you accountable for the recurring actions and behaviors that lead to success, whether it’s another agent, your broker, a friend, a family member, or a coach.