Starting out in Real Estate can be tough, and it often takes some time to get moving on all cylinders. Below are some recommendations and tips that I would focus on if I were starting from scratch today. (This is from an eXp Realty standpoint, adjust appropriately to your brokerage.)
It’s Who You Know – Or Who You Are Willing To Meet
If you are a new agent with the ink still wet on your license, eXp Realty requires you to go through a mentor program that matches you with a high producer in your area. The reason for this is to lean on the mentor and “barrow” his/her sphere of influence and leverage it to your benefit. The program could be translated to any brokerage you may be considering, it just comes down to more tenured and experienced professionals helping new employees grow.
Best selling author Tim Ferriss says “The amount of success you achieve is directly correlated with the amount of awkward and difficult conversations you are willing to have.”
Don’t be afraid to ask dumb questions and reach out to successful people. Always respect their time and keep a tally of real value they have provided you, so you can repay it someday in the future.
By leveraging referrals, we don’t mean to ask and keep asking past clients for more work, we mean acquiring a lead and passing it off to a top performer. We try to stay away from the pushy salesman tactics of asking clients directly for referrals, instead we advertise for and acquire new hungry prospects via social media ads and hand them off to top producers in that area who are almost certain to get the deal done.
This technique does two things: It takes the extreme burden off of new agents by leveraging and forming relationships with top producers in the network, and two – it allows new agents to get the most out of advertising spend.
Another HUGE resource for new agents who don’t have the ad spend capability to run the technique above, is Opcity. Realtor.com purchased this lead nurturing service to take over the real estate referral market. If you are a new agent you can and should sign up for this service NOW. New leads get sent directly to your inbox or phone, and you get a chance to work those free leads for a percentage of your commission.
Learn more about how we are referring hot leads to agents in all 50 states, while a charging 20-30% commission fee, all while using proven templates with the holey trinity of facebook, google, and youtube.
Crucial Tip: Get the agent to agent commission agreement signed and to your broker BEFORE any work is done!
Getting Valuable Feedback
Being part of the eXp Real Estate community can catapult your business in many different ways. It is important that you leverage the experience of the community to get honest and sincere feedback from people who have done what you are trying to do. For every “gold nugget” that you are able to extract from someone in the organization, make it a habit to pass on something of value to an agent less experienced than you.
Between the workplace community and eXp World, there has been no better time than now to bounce ideas off of high producing professionals. Think about it from an outsider’s perspective:
How would you like to have access to varying degrees of multi-millionaires that have already experienced the hurdles that you are starting to experience now.
Crucial Tip: Be sure you are getting honest feedback. Dishonest positive feedback in an attempt to not hurt feelings will get you no where.
Build Your Team
Delegation drives companies to grow. Have you ever wondered why gigantic corporations take days and several departments to get through your requests? It may sound counter intuitive from a customer service standpoint, but these corporations have mastered the leverage of employees. They are strategically placed in specific departments based on their experience and skill-set.
Doing this can absolutely explode your business. Start taking notes about what you do best in the company, and what areas are a struggle.
Crucial Tip: Just start. If you have the capital, upwork, fiverr and your sphere of influence should be in heavy rotation to source, filter, and fill positions of need. You may make mistakes and have to fire underperformers in the beginning, but when you find over-performers in areas you are lacking, growth happens organically.
A marketing and advertising strategy is arguably the most important tactic. These days to compete in your locoal market, its highly recommended that you go above and beyond the paid lead sights.
Setup your social media campaign complete with at least 3 channels and either block-off time, or delegate content creation. Here are some must-haves for 2021 and beyond:
Getting noticed means getting your brand in front of as many eyes as possible. If you aren’t comfortable starting with 3 channels, focus on one first and put maximum effort in to master it. After all, it’s great to have all of these channels up and running, but what if the content is just not sufficient or even likeable? Once you get in a good rhythm with one add another. This will help organic SEO as well as
Getting into real estate is not hard. But building a real estate business is often more work than people are willing to put in. Resources like this site and the countless apps available make it easier than ever, you just need to know where to start. Just start!!
Bruce Lee once said ” I do not fear a man that practices 10,000 different kicks, I fear the man that practices 1 kick 10,000 times. ” Become a master in one aspect of your business and leverage that momentum to create new opportunities.