When you are just getting started in real estate, there are many questions on how to turn this into a large business, that will go within covering your bills for rent. There is a lot to find for a new real estate agent.
We’ve tried to assemble a few tips for new real estate agents that will help you start growing.
1. Partner with other brokers
Perhaps this buyer or seller isn’t your best match. Or maybe their budget isn’t in your wheelhouse. Rather than turn these prospective clients away, you should co-list or co-represent them with competitors.
2. Hire a real estate copywriter
A good story is a key to a good sell. Not everyone can write well though. Try to hire a copywriter for your emails and listing descriptions. Not necessarily full time, try Fiverr.com or Upwork.com to save a dime.
3. Set up a CRM for real estate
It’s hard to remember everything about every lead and every property on the market. Consider every forgotten opportunity, as your personal loss. Good CRM will not only help you to remember everything but will enhance your productivity to a brand new level. Give a try to Propertymate.ai and match your leads with all listed homes automatically. Speaking of, we wrote an interesting post about why it is important to use CRM for new developments previously.
4. Host lots of open houses
Open houses are the best thing when you don’t have many leads. You don’t have to spend any money to host them, and in addition to growing in potential buyers, they can help you build a brand of a neighborhood expert.
5. Tap vendors for real estate leads
Successful brokers milk business from vendors and investors they meet everywhere. Accountants and lawyers tend to be especially useful sources of business.
6. Pitch stories to journalists
Reporters are continually hunting for story angles. Rather than only suggest that they use you as a source, hand them scoops on a silver platter. Are Murphy’s beds or new areas trending, or maybe you have your own list of tips for real estate agents? Tell them.
7. Don’t turn down any deals
When you’re getting your legs, never turn a seller or buyer away. Some transactions may not translate into fat commissions. However, they might send more business your way or buy pricier homes in the future.
8. Support connections with referral sources and past clients
Buying a lunch a few times a week for contacts delivers about a 10 percent return on investment, much higher than the 2 percent return on investment he sees from blanketing neighborhoods with postcards.
9. Find your real estate mentor
It’s much better to learn on mistakes of others. Besides experience, usually, mentors share with you their wisdom, network, and energy. Everybody has somebody to learn from, whether it’s through informal interactions or lessons. When you already have an experience, you owe it to yourself to find people who can broaden your perspective and illuminate for details you’d otherwise miss.
10. Work on your online presence
According to NAR, 99% of Millennials and 89% of Older Boomers search for homes on online websites. That means that almost every real estate client in on the Internet. Be active in your Facebook, Instagram, Twitter, Snapchat and try to start a Youtube blog. We know it’s hard to keep up with everything so that you can try buffer.com for better Social Media management.
11. Don’t forget to follow-up
99% of deals are not won on the first day when you’ve met the client. The easiest way to keep up with everyone is the habit to consistently follow-up with your client. Every two days with an active buyer, every week with someone who is casually searching, and every month with a passive buyer who is not going to buy soon.
These tips for real estate agents can help you to build a successful business, but, to be honest, it’s just a small part of the equation. Hard work and persistence is the thing that differentiates those who have from those who want.
However, if you combine smart and hard, your success will not make you wait for it.