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11 Smart Moves To Avoid Failure As A New Agent
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The beginning of any venture is not easy and in a challenging business like real estate about 50% of the new joiners are out by the end of one year and 75% by the second year. Imagine the waste of resources that occurs! Stopping the attrition seems imminent and this can be done by following 11 smart moves.
1. Real estate is all about sales. So, you need to learn how to increase the sales. This is done by working on the correct sales techniques that work. You need to retrain if you are not using the right ones.
2. Build your network. This is best done by talking to people and trying to gauge more about the market. A sales person cannot afford to shy away from making contacts and increasing referrals.
3. Help yourself. Do not wait around expecting that your manager or office will give you leads. Even the internet alone will not be able to help you much in this. You need to do your own ground work.
4. Real estate is a real people business. You are connecting to real people, the buyers or sellers. Only technology will not help you to get through. Human touch is indispensable.
5. Referral business should be the aim. Try to keep your customers and hope for referrals from them. Real estate is not a product that you sell and forget.
6. It is a full time job and more. If you are in real estate for the flexi hours or part time nature of the job, then it is best to pack up. You need to put in more hours than required if you want to succeed in this line. If you are planning on continuing the business along with another commitment, then you will bow out before long.
7. Keep training. The day you feel you know everything about real estate is the day you will begin to make mistakes. Just like any other job, you need to undergo continuous training to keep yourself abreast of the market.
8. Keep targets high. Maybe by selling just three homes in a year, you are able to meet the ends. But do not stop at that. Go on and sell more. This will help you during lean market periods. New agents who think that they are here simply to meet the demands are mistaken.
9. Invest first. Don’t wait to invest after you become successful. Without investment, success may not be possible. Do not hold back as you need to compete with big time agents and capture the market. Consumer expectations are high and you need to meet them.
10. Commitment is the key. Many new agents fail as they see their time in real estate as a trial period and are not 100% committed. They do not see it as a career. If you are here to ‘try it out’ you will never succeed.
11. Visual Tracker: Put a visual tracker in your office which gives you week over week planned and achieved activities status. For example, if you have planned to do 5 calls a day and at the end of the week you end up doing 20 calls instead of 30, you note that with red ink. So you will see month over month whether you have been able to meet your goals.
Real estate is serious business. New agents need to learn the tricks of the trade with total commitment. They need to devote plenty of time and keep learning to be ahead of the game.
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