7 Mistakes New Real Estate Agents are Making

August 10, 2017 by realestateresource

      1) Waiting for leads.

Some new real estate agents assume that the day they finish real estate school, the buyers and sellers will just come rushing in. Take time to build your brand, establish your niche, and cultivate leads. When real estate agents come in to interview with a brokerage one of the first things they will ask is, "Will you give me leads?"  This is something you should be looking for, but the leads you will gain through your own efforts will last your entire career. Get out there, and get creative!

     2) Too much too fast.

Jack of all trades and master of none. Ever heard that saying before? I myself, as a new agent was guilty of this. Too much technology, too many fees, too many subscriptions and not enough use of them! Master a couple of things at a time. Ask what works for others and find out what works for you before you commit to more services that you will not use, entirely or well. Know what your rate of return is for each service and prioritize what you need assistance with the most. Make educated decisions when it comes to your output. A lot of things in the beginning can be done with a little sweat equity!

   

 3) Spending too much time on cold leads. 

And leads that are going nowhere!  We have all had one (or maybe more than one…) The buyer who knows what they want but do not have the budget for it, or who has the budget and no idea what they want! These types of buyers can often times turn out to be great clients but there are a few out there who are time consumers.  I always think that we are matchmakers, and we work best when we work as partners with our buyers and sellers for a great final result. Communication is key, so know when to re-evaluate your stance and when something may or may not be possible to attain.  Telling someone that perfect home does fall within their budget if it doesn't is a waste of your time and theirs.

     4) Not spending enough time on new leads. 

One call is not always going to do it. Respond quickly, and with information your buyer or seller may not have. If your lead's property of interest is no longer available, go ahead and pull comparable properties and have those ready to present. That little bit of extra work will help you earn your client's trust and show that you are willing to go the extra mile. They have contacted you because they want to be contacted, so reach out via different avenues, and don't give up after the first failed attempt.

     5) Failing to use time wisely. 

Timeblock. Timeblock. Timeblock. From my experience this is the best way to be effective and maintain control of your schedule. Set a schedule for yourself that gives you ample time to complete the tasks you need to get done. Make sure you set realistic expectations for yourself.

(More to come on what you should be time blocking for later!)

  

   6) Not investing in a good CRM. 

Initially you may think, "I don't need a CRM,  I only have a few people I am working with." But over time, you will begin to see those quickly double, and then do so over and over again. A good CRM will help you to work smarter and remind you of who you should be contacting, when you should be contacting them, and automate a lot of the time consuming tasks you may be doing on your own.

    

 7) Forgetting who the professional is. 

So, you're new. Maybe you feel uninformed, or not ready to jump right in.  But remember, you still have much more knowledge than your average buyer. Don't forget they have hired you for a reason. Share openly about what you do know and find out more about what you dont. Everyone has to start somewhere and we are all novices for awhile as each client is a new experience. The only way to gain experience is to get started. Don't let what you don't know prevent you from sharing what you do know.

Questions? Feel free to contact me!

-Lu

Your Real Estate Resource 

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