Thanks for visiting! Welcome back!
Real Estate Client Referrals recommends you sign in with Facebook
and become a fan of our Page

Being in the industry that I am, I deal with agents all day long in just about every state in the union.  Some of the agents I work with are as solid as they can get…others, not so much.  But, the one thing that I do know is that all of them WANT to be successful.  It’s just that some of them have the ability to ensure that it happens to them.

You can WANT to be successful with all your heart – The fact of the matter is that you will only be successful if you work hard, work smart, and avoid the pitfalls that the majority of agents hit at some point in their career…usually within the first 2 years.  According to recent statistics, as many as 50% of new agents are no longer active within one year.  And 75% of them are done within the first 2 years. 

My question is – Why? 

Is it because they don’t know how it works?  Is it because they think this is easy?  Perhaps it’s because they are “visionary” and plan on breaking new ground wherever their butt lands…

News Flash — New agents don’t come into the business to fail.  No one takes on a new career with the specific purpose of being the low man on the totem pole.  But, few realize that this job is just that…a job.  It’s work, people!  In fact, it’s hard work.  And by being such, you must have certain skills and apply some effort to make sure that you succeed. 

Now, with today’s market, there are certain factors that are working against new agents. 

• There is an ever-widening space between what the consumer wants and the performance level of certain agents.  Agents require better training, coaching, and communication skills (online or offline) than ever before.
• The market (in most areas) has become more challenging then ever before.  Agents can’t just jump in and get “easy sales” to get their feet wet.
• Committed, long-term oriented agents (seasoned veterans) are taking a much larger share of the market leaving less for new agents.

So, with those factors in mind, this list of 10 mistakes that new agents make regularly should help you stay on track…and make it past the first 24 months of your career. 

• Don’t think that there are multiple ways to start.  There aren’t.  Despite everything that I have said about this being a “numbers” game in the past, it is sales.  And sales is a numbers game.  
• Don’t try to “do it differently”.  Fast food joints and cell phone kiosks are full of people that thought that they had a better way to go about getting prospects.  If you are not out there talking to as many people as humanly possible about real estate and trying to turn business your way, you will fail.  Lead generation is quite possibly the most work a new agent faces, but one that will lead to the greatest reward in the long run.
• Don’t rely on others for business.  Your manager isn’t going to give you clients.  The other agents in your office aren’t going to give you clients.  If that were the case, your commissions would be much smaller.  If you want business…go out and get it.
• Don’t fall into the technology spiral.  This job isn’t about tasks and technological advantages (although, those help!).  It is about people relationships.  And if you are not out there helping people and talking with people and letting people know what you can do for them, you will be flipping burgers in no time!
• Don’t think that a deal is ever “done”.  I had a manager once tell me that the sale isn’t over until you are eating the steak that you bought with the money that you got from the bank after the check cleared.  And, my immediate response was, “But, if I want to eat that steak again, shouldn’t I keep in contact with that person?”  In this business, the sale is almost never over…because you can sell that person again.  Or get a referral from that person in the future.  Maintain your relationships with your clients and they will monetize in the long run.
• Don’t start off “part-time” without a clear strategy to go “full-time”.  That’s right.  If you have to start this business part-time, you MUST have a full-time mentality.  This job requires at least 50hrs per week.  If you can not commit to that right away, make sure you have a plan in place that allows for a move to full-time within a specific time frame.  “Part-time” is a disservice to your clients and to your officemates.  Also, Managers – Do not hire someone that is going to go part-time without a firm commitment of a full-time placement.  You are wasting your time, effort, and money without it.
• Get coaching often and make sure your broker is on the same page that you are on.  If your manager cant commit to helping you be more successful, maybe you are in the wrong office.  (Managers – You’re goal should be to ensure that you commit 100% to the success of a new agent.  They need you.  Without you showing them the way, the likelihood of them falling on their faces is 75% in 2 years.  As a manager, a 25% success rate should be infuriating!)
• Don’t base your office choice by the commission structure of the office!  Don’t base your decision to work for one office or another on the payment structure of the office.  You need to sell real estate.  In fact, you need to sell LOTS of real estate.  So, choose an office that will allow that to happen.  The money will come as you sell more. 
• Invest in your business!!  Many agents decide that they cant invest in their business until they “get successful”.  When is that going to happen?  How will you compete against all of those other agents that are doing what you are not?  How will anyone find you to work with you?  Why would someone want to work with you if you don’t at least appear to be successful?
• Don’t do this if you are “seeing if its right for you”.  The last stat I read was that 50% of new agents got into this business to see if it was a good fit for them.  If you are not 100% committed to being a success at this business, you are wasting your time, your manager’s time, your broker’s time, your client’s time, and everyone’s money.  As a very wise Jedi Master once said…”Do.  Or do not.  There is no ‘try’”.

I realize that some of these words might be a bit harsh…be a bit difficult for some of you to read.  But, they are true.  Your success or failure rides directly on your shoulders.  So, make sure you choose and environment that will help you get where you want to be.  Pick a manager that is committed to your success.  Find people that will tell you the truth – even when you don’t want to hear it.  And, develop a plan of attack that requires you, your manager, and your broker to be committed to your success.  If you do that, you might make it beyond that 24 month time frame and have a long, successful career. 

If you would like more information on www.recr.com and how we can help you get more clients to work with, contact Clint Miller at 800-977-7058.  Or, follow me on Twitter at www.twitter.com/recr.

One Response to “It’s OK…Everyone Makes Mistakes (Just Don’t Make These!!)”