Anyone here a Realtor?

[theddguide]

Thanks for all the responses guys. Seems to be a pretty common theme here. Looks like I just have to keep at it. I was just hoping there was some secret and someone would offer a magic trick or easy button on how to get leads. Lol. Is it safe to say it's this way for every new guy?

Sent from my SM-G950U using Tapatalk

 

[crich]

3. Follow through. If you tell someone you will call them back, call them back, even if it’s to tell them that you haven’t found anything.

This.... a flakey agent is the last agent I would ever use again or recommend to anyone.

 

[kfili]

Thanks for all the responses guys. Seems to be a pretty common theme here. Looks like I just have to keep at it. I was just hoping there was some secret and someone would offer a magic trick or easy button on how to get leads. Lol. Is it safe to say it's this way for every new guy?

Sent from my SM-G950U using Tapatalk

I know its the devil but to get some "miles" in...zillow leads, they're generally not great but can at least get you some experience talking to people, showing houses, whatever.... Now that I just recommended the downfall of your industry and mine I am gonna go puke.

 

[CorbLand]

Thanks for all the responses guys. Seems to be a pretty common theme here. Looks like I just have to keep at it. I was just hoping there was some secret and someone would offer a magic trick or easy button on how to get leads. Lol. Is it safe to say it's this way for every new guy?

Sent from my SM-G950U using Tapatalk

Most that I have talked to say it’s rough right now. Low supply and high demand are making it difficult even for agents. Where I live there are ~600 licensed agents and only 60 houses on the market.

 

[h2so4]

I read “instant experience for real estate agents” and I’m not even in real estate. I took a lot away from the book for many industries / careers. I’d suggest reading it. It’s an easy read and should not take more than a week.
Also, BNI seems like a cult.

Good luck!

 

[Glory]

I passed my real estate exams and am waiting for my license here on Prince of Wales. Curious to see what the responses are here. Kinda a side hustle for me in between fishing seasons but have a great broker who obviously wants me to be successful.

Ok, first month update:

Was busy on day 1. Submitted my first offer on day 3. Had two deals looks like will close. 2 deals fell apart. It’s about 5x times the work I thought it would be. LOTS of time on the phone and driving. I am good at the phone stuff though.

Supposedly this is the slow season for up here.

 

[dieselchessy]

Ok, first month update:

Was busy on day 1. Submitted my first offer on day 3. Had two deals looks like will close. 2 deals fell apart. It’s about 5x times the work I thought it would be. LOTS of time on the phone and driving. I am good at the phone stuff though.

Supposedly this is the slow season for up here.

I saw your listing on Coastal for a place out in Port Protection. Was a bit surprised to see your name on the listing. Would think that type deal/location would be too much of a hassle.
How do the banks up there deal with all but a complete lack of building codes?

 

[Glory]

I saw your listing on Coastal for a place out in Port Protection. Was a bit surprised to see your name on the listing. Would think that type deal/location would be too much of a hassle.
How do the banks up there deal with all but a complete lack of building codes?

They probably wouldn’t touch it. Most of those properties built on cedar and hemlock pilings are cash sales.

 

[dieselchessy]

Seems now days lots of folks have lots of cash, so no doubt it will sell.,

 

[slvrslngr]

Get involved in your community. Specifically kids sports. Coach, referee and/or organize. Why? People with kids are the ones buying houses.

“Oh crap, you’re knocked up again. We need more room for the baby. Oh hey, Coach so and so is a realtor, let’s talk to him after the game and see what’s on the market.”

You get the point.

Also, get to know those people in your community that are house cleaners, landscapers and handy men/construction workers. These folks are a gold mine of information and help, cultivate these relationships.

Just be professional, genuine, honest and reliable. No one likes a flake.

There are tidbits I picked up from a good friend that was a very successful realtor. Unfortunately he unexpectedly passed away a week ago.

 

[ljalberta]

Not a realtor, but a lawyer. Based on my experience I would say take the time to connect with a lawyer or two who practices in real estate. Learn what each provision in any given agreement means and the ramifications of including, excluding, or modifying it.

I often see parties agree to verbal terms for a purchase and sale, but then the contract doesn’t line up with what the parties intended. The clients often don’t understand what they’re agreeing too and (unfortunately) rely on the realtor to properly draft the agreement. When it comes time to close and there are outstanding obligations or additional costs involved, it usually results in pissed off clients who are unlikely to recommend your services.

The best thing is to send the client to a lawyer to review and explain the purchase agreement, but that just doesn’t happen where I live that much. As such, a realtor who has a really solid base of contract law and conveyancing goes a long way.

If you develop a relationship with a lawyer and are sending them business, they’ll likely be more than happy to help you out in this realm and field calls and questions to help ensure contracts are correct from the start.

Another great thing is, a real estate lawyer may close thousands of sales a year. They meet with those clients and a good many of them are unhappy with their realtor and ask for future recommendations. If you have a good working relationship with a lawyer, you could very well get these future referrals.

I wish you the best on your new venture.

 

[H2PVon]

Wife is a real estate agent. First couple of years are/were rough. She gets a lot of referrals now.

 

[HomeTownJB]

Some good advice here already. I've been in real estate for a while, I have been an agent, broker, manager, and now I am on the corporate management side. I will echo a lot of what has already been said.

ANSWER YOUR PHONE. It never ceases to amaze me at how many agents don't answer their phone. If you can't answer, be sure to follow up with whoever contacted you ASAP....not days later. Especially if they are a lead.

The business has evolved dramatically over the years, but it is still the same in principle. It's shifted from a professional first, product second environment, to a product first and professional second way of life. Consumers can shop and research anything and everything online before they ever contact you. The point here is make sure your online profiles are all up to date and have information filled in (about me, contact info, testimonials, etc.). Also realize that many clients go with the first agent they come in contact with, which is why it's important to be responsive. Clients have all the data they could ever want, your role is to help them make heads or tails of it and guide them professionally through what typically is their biggest transaction of their life.

Build your brand. Name and brand recognition go a long ways. Don't just rely on your brokers brand. Use and leverage whatever your broker provides to help you build your business, but never rely on it.

DONT BE A SECRET AGENT.....you should never be afraid to let people know you are a real estate agent. People love to talk about real estate and you never know where that next deal will come from. You can do this without being the annoying salesman that's just looking for a commission check. Treat people how you would want to be treated.

Focus on your sphere of influence. People usually work with someone they know, like and trust. Or they will refer someone they know to someone they know, like and trust. 80% or more of your attention should be focused on this group of people. Your past clients will be a part of this group as you help more and more people buy and sell properties. If you don't have a big SOI.....BUILD ONE. Volunteer, join a networking group, church, school, kids friends parents, golf leagues, bowling leagues, other sports, other hobby organizations, attorneys, contractors, etc etc etc. MOST IMPORTANTLY....keep this list of people organized in some fashion. Excel spreadsheet, a fancy CRM, whatever works for you.

Old school prospecting methods still work....open houses, FSBO and expired prospecting, targeted mailings, handwritten notes are some examples.

Find a niche. What kinds of properties interest you? Or what do you want to specialize in? Equestrian properties, fixer uppers, condos, rural properties, urban flats, etc.

I'm not sure how large the office is you work forz but if there are a few agents there that have been in the business for a while, don't hesitate to befriend some of them. You'll definitely learn some stuff but they may also eventually trust you to take a few leads from them that they don't have time for, and you can pay them a referral fee.

That's probably enough for now! Sorry for the long post. I have a passion for helping aspiring new agents. It's a great career and I wish you nothing but the best of luck. If you do the right things and you work hard, and I mean REALLY work hard, you will find success. It's not an overnight get rich quick type of business. Stick with it.




Sent from my Pixel 6 Pro using Tapatalk

 

[kfili]

Just chiming back in to say you should take what JB said to heart! He is on it!
@HomeTownJB great stuff there! As a mortgage guy the successful agents I work with seem to follow what your saying.

 

[Fartrell Cluggins]

I'd add that from a client perspective, not sucking is important. Most realtors suck. I just bought 3 acres on a lake in TN. I live on the Gulf Coast. I took two trips up to TN looking and made quite a few calls lining up visits for each trip. A number of realtors would not call back. A few stood me up on my 500 mile drive. I was prepared for that, so I had workarounds in place. Very few knew a damn thing about the property they were selling.

If selling rural properties, people will want to know about utilities. They are more or less a given in residential settings. Know about tap fees. They can be substantial in places. Where a well will be required, have a ball park idea of how much a well will cost and know a few companies that drill them. If there are covenants in place, be familiar with the ones you will get the most questions about. Square footage requirements will be a common question. Know if any perk tests are on file. Know of any wetlands and flood zones. Know about school zones. Know a few builders that you can refer clients to. Partner with a few real estate attorneys.

It was most common on this recent quest ,and every other quest I have been on, for agents to be remarkably ignorant of their properties. I came in contact with the agent I used when I called about one of his listings. That one didn't work out, but he was so familiar with the area, the development and the covenants that I ended up using him to get information about another agent's listing.

Be available, be responsive, be knowledgeable and be capable. You'll have a leg up on 99% of the competition. The industry standard is a great big bucket of suck.

 

[sneaky]

I'd add that from a client perspective, not sucking is important. Most realtors suck. I just bought 3 acres on a lake in TN. I live on the Gulf Coast. I took two trips up to TN looking and made quite a few calls lining up visits for each trip. A number of realtors would not call back. A few stood me up on my 500 mile drive. I was prepared for that, so I had workarounds in place. Very few knew a damn thing about the property they were selling.

If selling rural properties, people will want to know about utilities. They are more or less a given in residential settings. Know about tap fees. They can be substantial in places. Where a well will be required, have a ball park idea of how much a well will cost and know a few companies that drill them. If there are covenants in place, be familiar with the ones you will get the most questions about. Square footage requirements will be a common question. Know if any perk tests are on file. Know of any wetlands and flood zones. Know about school zones. Know a few builders that you can refer clients to. Partner with a few real estate attorneys.

It was most common on this recent quest ,and every other quest I have been on, for agents to be remarkably ignorant of their properties. I came in contact with the agent I used when I called about one of his listings. That one didn't work out, but he was so familiar with the area, the development and the covenants that I ended up using him to get information about another agent's listing.

Be available, be responsive, be knowledgeable and be capable. You'll have a leg up on 99% of the competition. The industry standard is a great big bucket of suck.

What part of TN did you end up buying property in?

Sent from my SM-G955U using Tapatalk

 

[Fartrell Cluggins]

What part of TN did you end up buying property in?

Sent from my SM-G955U using Tapatalk

Fredonia Mountain Nature Resort up on the Cumberland Plateau above Dunlap. I haven't closed on it yet, but should any day now.

 

[sneaky]

Fredonia Mountain Nature Resort up on the Cumberland Plateau above Dunlap. I haven't closed on it yet, but should any day now.

I grew up about 45min east of Dunlap. Have a buddy looking at land over that way as well.

Sent from my SM-G955U using Tapatalk

 

[Muleys32]

Late to the party here, how has it been going for you? Odds are you are beyond this, but if you haven't yet, I was going to recommend sitting down with all of the legal forms you use and rewriting every paragraph in your own words to ensure you totally understand them. Just as a practice to make you understand everything contractually on a deeper level. I did this 2-3 weeks into becoming a REALTOR in 2019. This brought me from having lower confidence in the process to having a high amount of confidence in understanding and utilizing agency disclosures, purchase agreements, buyer agency contracts, listing contracts, etc... I could go into a lot of things like having the heart of a teacher, doing the right thing, talk people out of buying homes or at least give them the downside perspective if your gut says it should be said, etc... but I am sure you are figuring all of this out.

 

[Boarmaster]

I’m a Commercial Broker and specialize in Industrial Sales and Leasing. I have 30 years under my belt. I got my start working with another broker that had more to do than he wanted. He fed me deals and clients for a cut of the fee. I worked for pretty cheap but Within the first few years I got to work on ten times more transactions that other folks starting out. This meant my name got out there and I had something to talk about on a listing call. I decided right away to focus on Sellers and Owners rather than Buyers and tenant rep work. Residential is somewhat different than commercial but the theory is still the same. If you want listing you need to compete against brokers who have experience.

So you need experience. It isn't a get rich quick career. It takes years even a decade to get to where the phone rings and theres someone who is calling to business with you every week. I never did any cold calling or prospecting. I spent my time working for a cut of the action on transactions building the number of those up. This is just the way I got started not the only way. Dont worry about how much of the fee you need to give up to get work. Worry about how much work you can get the first few years. Then you have something to talk about when you do get an opportunity to compete for a listing or a client.