Are you an outgoing person? Do you love the hustle, grind and inevitable freedom that comes from working for yourself? Have you considered a career as a real estate agent?
The housing market is always active. And while many people are choosing this career path, the hard working and skilled agents can easily set themselves apart from the pack. As long as you continue to put in the hard-yards and people continue buying and selling homes; you will have a job.
But it’s not always so simple. This career does come with its share of challenges, with aa few universal mistakes that when avoided can really set you on the right path.
Below are our tips to setting out on a fantastic career path in real estate and how to avoid some disastrous rookie mistakes.
Rookie Real Estate Mistakes
So, you’ve put in the time and study to get your real estate license. You took all the pre-courses, you passed your exam with flying colors, and you’ve joined an amazing brokerage. You’re good to go, right?
Not quite! Now that you’re in the field, there is still plenty to learn on the ground and if you aren’t careful, you could end up making some critical mistakes. Here are some costly mistakes that often plague new agents.
Many hungry, young agents want to dive straight into selling. But getting your foot in the door and cultivating high-value clients takes a lot of effort! It’s common to feel defeated during the early stages of this process. Sometimes it will seem like that big paycheck is never going to come. Prepare yourself for this reality. It will take time. Slow and steady wins the race. Make sure you have some savings tucked away so you can weather the inevitable difficulty of your early stages.
Lack of Strategy
You know how to get to your office right? You know the quickest route to take and where to turn at every stage of the trip. That’s because you have a plan! Your business needs one as well. Create a well thought out and specific road map for your business including a marketing strategy. This plan will help you keep the big picture in mind and will ensure that you are moving towards the right goals, even when things get a little scary or confusing.
Investing in the wrong marketing strategies
It doesn’t matter how talented of a salesperson you are. If you do not invest time and capital into a marketing strategy- no one will even discover how talented you are! Spend the time to map out your marketing strategy. Figure out the precise tools and platforms that will have the biggest impact on your client base. Paint a portrait of your ideal client and determine the best avenues to reach them. Determine the qualities that set you apart from the pack of fellow agents.
What successful Real Estate agents do
Now that you know the pitfalls let’s look at the positive side. Here are a few things that experienced and successful real estate agents do to ensure their own business success.
They work with other agents
No man is an island. The real estate business is a community. Working in tandem with agents that you trust is the best way to ensure that everybody in your tribe wins. Combine your strengths. Work with agents who excel in areas that maybe you lack. You will both equally gain from this collaboration!
They incorporate an online marketing strategy
The world is online. Stay relevant and streamline your marketing by integrating the amazing tools the internet and social media has given to us. Network on local forums and Facebook groups, use online lead generation tools or even host a webinar that targets your precise market.
They work with a marketer or publicist
Marketing is a vast industry. Professionals have dedicated their entire lives to learning the fine art of marketing. Lean on their expertise; it’s a worthy investment. Let them show you how to put yourself best out there. It’ll pay dividends in the long run.
They invest in an insurance policy
one lawsuit and your entire business could go down the drain. Purchasing insurance is the easiest way to ensure that all your hard work and investments stay protected. The most important policy for a Real Estate Agent is a Professional Liability insurance policy. This policy is designed to protect you from the cost of a lawsuit.
If you take the time to learn and set yourself on solid ground from the beginning, a career as a licensed real estate agent can lead to a bright and comfortable future. Follow these tips and consider purchasing a Professional Liability insurance policy for your real estate practice. BizInsure works with leading partners that specialize in ensuring Real Estate Agents just like you. Click here to read more about the coverage we offer and get an instant quote in seconds.
Now get out there and sell some houses!