Learning how to become a successful real estate agent is something that every new agent goes through. When you first get out into the market, and you’re trying to build up a reputation, it’s difficult.
It takes time, dedication, communication, and some grit, but anyone can do it. Becoming a successful real estate agent is all about having a systematic set of steps to follow, so I’m breaking it down into 10 steps that every new real estate agent should follow.
1. Partner With Other Agents
Becoming the best real estate agent is all about knowing that you can never do it on your own. From choosing a broker to passing off sales that aren’t quite in your wheelhouse; you need to learn how to work with other agents.
Forming partnerships allows you to piggyback off others success, learn, grow, and prosper alongside them. Co-listing a home is also one major benefit of partnering with other agents. When you co-list a home, you’re getting 50% of what you normally would, usually in exchange for finding a lead and passing it off to another agent.
2. Understand Communication
Communication is the key to becoming a successful real estate agent; it’s important in all aspects of the business. We need to learn to listen more than we speak, and instead of telling prospective clients what they need, we need to listen to their needs and solve their problems.
Whether they’re selling or buying a house, it’s important that we understand that this is likely an emotional and stressful time for them, and it’s our responsibility to relieve the pain.
Our clients trust us and have faith in the fact that we’re listening to them. We have a fiduciary responsibility to keep their best interest in mind at all times. Never forget that people don’t buy houses from an agent, an agency, or a broker; they buy houses from people, so you need to get on their level.
3. Pitch Trending Stories to Reporters using HARO
When people ask how to become a successful real estate agent, it’s all about marketing. You need to be able to promote yourself and get as much attention on your name as possible. We do this in a variety of ways.
Some people prefer to hit the ground running by picking up the phone and dialing FSBOs; some put their face on everything, including grocery carts, billboards, phone poles, walls, and newspapers. Others use reporters to help them out, and this is a unique way to display your expertise as a new agent.
The difference between good and great agents is some of them appear larger than life, and many have a hard time understanding why that is, but for some, it’s just the fact that they’re an “expert.” They’ve displayed industry expertise, and pitching reporters on great real estate stories is a great way to do this.
You can do it locally, or you can use HARO (Help A Reporter Out) and offer your knowledge on a certain subject pertaining to the real estate market.
4. Use Anyone for Leads
One of the critical steps to becoming a successful real estate agent is realizing that you need to always be selling. Some people tell you to reach out to your accountant, attorney, and the person serving you your morning coffee. I say, reach out to everyone you know. EVERYONE.
When you become a new agent, you have zero network except for the people in your close circle and think about it this way. There are always people out there who are “interested” in buying or selling; they just haven’t found the perfect scenario yet to make it happen.
This is where you swoop in and make their dream a reality. You instill confidence in the person and show them that you’re a new and hungry agent looking to find success in the industry, so you’ll do everything you can to make the deal work for them.
Next thing you know, you’ve got a few sales under your belt, people are seeing your name out there, and other agents are starting to recognize you as well.
5. Host Plenty of Open Houses
Open houses are the number one way to bring in business as a new agent. You’ll get a lot of “window shoppers,” but this is your way to put your name out there and get in front of as many people as possible.
Instead of putting your sign out front and waiting for people to call you, host an open house because it draws a lot more attention, and you can get to know more people in the neighborhood.
6. Don’t Turn Down Deals
Learning all about how to become a successful real estate agent is all about doing the work, no one else wants to do in the beginning. You might have to do some jobs that don’t exactly translate into the largest commissions, but they’re worth it because you’re putting your name out there.
Never turn down any business in the beginning, be grateful to get your feet wet, and give it you're all. The last thing you want is a poor experience or review right off the bat.
7. Utilize Digital Marketing and SEO
Remember that becoming a successful real estate agent is all about marketing. You need to know how to promote yourself, and if you can do that, you’ll never have a hard time making money because people will find you.
That said, you need to have the right methods, and digital marketing is much more affordable when you’re starting out. Get active on social media, build a website that’s separate from the agency, post content on there regularly using local keywords that apply to your market.
8. Keep and Maintain Relationships (Even Old Ones)
You need to keep track of all connections you make; please do this. This is one of the most important tips I can offer to new real estate agents because it’s so critical. A lead is a lead, and they’ll never “not” become a lead. People will buy and sell homes for their whole life, and over time, you’ll develop a huge Rolodex of potential clients.
Instead of going in cold on new people all the time, consider reaching out to a list of past connections to see what they’re doing. If someone was trying to sell their house two years ago, couldn’t make it happen, and took it off the market, offer to take them out for lunch.
The $50 you’ll spend on that lunch is well worth the positive reputation you’ll achieve by keeping the conversation light, not going in too hard, and securing the property under your name.
9. Qualify Clients Beforehand
Now, I know I said don’t turn down any work, but that doesn’t mean go out and waste your time on people who will never develop into paying clients. The best example is people who are “thinking of buying.” You need to pre-qualify these people before you get too involved with them.
If they’re thinking of buying a home, you need to find out if they’re getting a mortgage; if they are, are they pre-approved and for how much? If they’re not, it might not be in your best interest to show them a home because they could end up seeing five houses and never follow through with the process because they’re not serious.
10. Work With The Right Broker
Finding the right broker is ultimately the key to success early on. Understanding the steps to becoming a great real estate agent are useless if you’re not working for a broker who cares about you and provides the proper training.
The best brokers will offer a generous compensation package, marketing materials, coaching, and mentorship. Choosing the best broker in your area will make a huge difference in the beginning.
If you’re a new agent and you’re struggling to get started, or you’re thinking of becoming a real estate agent, consider Christian Saunders Real Estate.
We have a great time, excellent mentorship, and a strong reputation with our local community. To learn more, click here or call me directly at 570-335-9000. I’d be more than happy to chat about your goals and see if Christian Saunders Real Estate is the right fit for you!
Christian Saunders Real Estate specializes in Homes for Sale in Lackawanna County, Luzerne, Wayne, and Monroe. All of our agents have combined decades of experience assisting people with real estate transactions in Scranton, Clarks Summit, Dunmore, Old Forge, Moscow, Pittston, and surrounding areas.