Top 10 Tips for New Real Estate Agents in 2020

Michael Inzerillo | CEO Inzo Software Inc.

Learn awesome tips to build and grow your real estate business this year.

So you’ve decided that a career in real estate is the way to go? Congrats and welcome to a world of great promise and potential. You see, the field is tough and highly competitive. It is especially more challenging for a beginner like you. But don’t fret; with the right tools and resources, you will be well on your way to success. 

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The allure of self-employment is exciting but you can’t afford to fail. You probably already know that this profession is a multi-skill and technical one. From prospecting to nurturing relationships, real estate marketing, and lead generation, you’ll have to tick all of the boxes at the right places to accelerate your career growth.

In this guide, you’ll learn the basics of how to;

1. Find your X-factor

Anyone can find homes online and research the neighborhood. That’s why it takes more than being average to bring true value to clients and their real estate transactions. So, what value are you bringing to the table? It’s left for you to find your strength(s) and perfectly leverage this for your business success.

It’s understandable that you love the idea of closing big deals and making millions from your new career. But the money aside, you have to find and tap into the other driving purpose(s) for which you’re doing this. This is what will help you stand out for success.

So, how can you find your X factor as a realtor?

  • Find the things (skills, strengths, and abilities) you’re passionate about, and
  • Connect this to your service delivery to individual clients

2. Become a local champion

There is an old saying that ‘the riches are in the niches’. The same applies to real estate if you want to truly add value to your clients and make real success. You’ll hardly go far trying to spread your reach across the whole place. That market is just too saturated already. You have to niche down and become the neighborhood expert that people want to work with.

You’ll be better off becoming an expert in a specific niche.

A lot of people usually have reservations about working with an agent who’s not familiar with their market. They feel like such an agent won’t have enough market exposure and that this may affect their transactions. While this is not always the case, you have to specialize and get to know your local real estate market to emerge successful in the long run.

3. Build your personal brand

You have to define your brand identity and voice from the onset.

I can’t stress this enough but you already know how competitive the real estate environment is. This is why you have to be unique and authentic. For this, you’ll need to build your own personal brand to stand out. People want to work with brands and people they can relate to. Be that professional who wins their heart.

  • Build a professional real estate website

Your real estate website is one very great place to start. Building an effective real estate website will prove very valuable to your business. Aside from helping with your branding and real estate marketing strategies, a good real estate agent website will also make you appear very professional.

MyRealtyWorks helps new and established realtors build professional real estate websites that will help promote their brands and help them turn prospects into clients. You won’t have to worry about the technicalities involved in getting this right.

  • Leverage social media to build your brand

Most of your potential clients are already spending time on Facebook and many of the other social media platforms. Right here is another great branding and marketing opportunity for the real estate agent ready to maximize this potential. Facebook for real estate agents is a great platform to introduce prospects to your brand. Overall, your real estate marketing campaign and strategies should also incorporate your brand identity as well for greater impact.

Defining your brand as a realtor is a challenging but crucial step. However, this will be much easier soon as you’re able to define and identify your target audience.

4. Create and maintain your budget

For starters, you have to create a budget that will help you manage your cash flow. You’ll only get paid when you close deals, sales or rent. You have to have a plan in place so you don’t become financially unstable when sales appear slow. So, how do you do this?

Start by figuring out what expenses you may have to put up with for both personal and business reasons. Don’t forget you’re running a business. You should have a separate bank account for this and also consider hiring a CPA or bookkeeper.

5. Persist in the face of challenges

You’ve got your real estate license now and have chosen a unique career. Despite the huge promise and potential, the challenges here as well are very huge. It is estimated that about 80% of realtors will fail within the first five years. You don’t want to end up among this group for sure.

You’ll have to embrace the unconventional and surmount challenges. You’ll work on weekends when most clients are usually free to check out properties. You’ll have challenges at some points, but like Lee Kiser of the Kiser Group put it in this Forbes’ publication, you have to develop an “I don’t care” attitude and solve whatever challenges are thrown at your feet.

It takes a lot of work to build a sustainable audience which is very important for long term success in real estate. While you may have to put in more work as a beginner in this field, your persistence and consistency will most likely pay off in the long run.

6. Communicate effectively

How can you sell properties to people who don’t know you exist? Quite impossible, right? That’s why you have to maintain constant contact and communication with prospects and clients. You won’t do much keeping silent and not getting people to know your brand and offerings.

How fast and how great you respond to clients’ texts and emails will prove very important. These may come across to you as little things but even the little things matter. It’s perfectly fine to respond to messages before the close of the day but going above and beyond to respond NOW is awesome! You know, you are your brand’s number one billboard so it’s important to represent very well.

  • MyRealtyWorks Real Estate CRM Software / Communication Hub

If you’re finding this increasingly difficult to manage, a lot of other realtors do too. The smart ones are already working their way around this without compromising value. A real estate CRM software, and especially one like MyRealtyWorks’ own platform that can function as a communication hub can help in this case.

You can now easily send, receive, and manage multiple email accounts, text messages, and chats from a single, unified and searchable inbox. This means more ease and convenience for your client management and lead conversion goals.

7. Win at real estate marketing

It doesn’t matter whether or not marketing is your cup of tea. Without effective real estate marketing, you’ll find it hard to make sense of your real estate career. But you’re smart enough to understand how important this is because that’s why you’re here in the first place.

But then, many real estate agents struggle and fail at this.

The time, technicalities, and all of the other things involved is not something available to everyone. However, you can easily outsource and automate this so you can focus on what you know how to do best… closing more and more deals!

  • MyRealtyWorks Real Estate Marketing Service

As a new real estate agent, you’ll probably have to operate with a limited budget. It’s therefore important to ensure that every penny that goes into your advertising needs to be well-spent. With a real estate marketing company like MyRealtyWorks, your ad dollars will be spent where they would guarantee the most returns.

You can get an all-in-one real estate marketing service that includes real estate SEO / PPC. The technical experts here will leverage their expertise and experience to help you secure this badly-needed win in getting your brand in front of more prospects for more deals.

8. Manage prospects and clients

You know that real estate lead generation is the lifeblood of your real estate business. That’s why you have to bring your A-game for the proper management of prospects and past clients. Your prospects represent potential sales while clients also represent potential return sales and referrals.

How well you get at nurturing leads and managing them will prove important to your success, going forward. So, how can you manage your prospects and clients with great success? You need a scalable and reliable CRM. MyRealtyWorks comes in to help yet again!

  • Real Estate CRM Software Tool

MyRealtyWorks Real Estate CRM is more than just your communication hub. This easy-to-use CRM system will help real estate agents, brokers, vendors, and their teams track leads, contacts, properties, notes, SMS, files, meetings, events and more with greater ease.

Beyond this, it is also designed for perfect web integration and team management. It can fit well into your real estate marketing strategy and ultimately help you win more clients. While the system saves you a whole lot of time and money, it’s still very fast and easy to use.

9. Avoid being the annoyingly salesy agent

So, what if I tell you that your job as an agent is not to sell?

Your client wants you as a professional and values your professional input into the transaction. They don’t want to be ‘sold’ and don’t like you as a salesperson. So you have to find a balance and draw the line between effective real estate marketing and annoying sales tactics that scream desperation.

You’ll have to prioritize your client’s goals and then provide valuable advice along with your professional input to help them achieve these goals. So stop with being that annoyingly salesy agent that ends up making the client feel like ‘real estate agents are liars’.

10. Provide value!

You have to provide value for clients and that’s why they need you. Besides, no real estate marketing tactics work as powerful as word of mouth marketing. Positive testimonials would earn you recommendations and referrals from happy clients as well as the trust of new prospects.  By providing value for your clients, you’re easily investing in your business to drive more results. Just maintain consistency with this and watch how your business will flourish in no time.

There’s nothing to sugarcoat really.

The real estate environment is tough and only the smartest will survive the competition and thrive. However, you can leverage these tips above and the tools and services at MyRealtyWorks to help you build a solid foundation for your real estate career. With these, you’ll be well on your way to real estate business success.

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