Tips! Advice for New Real Estate Agents

So you got your Real Estate license, now what? You probably already have a vision of what your life as an agent will be. However, the first year in real estate is usually the toughest one. In fact, the first year will either make or break an agent. Here is some advice new real estate agents

You are at the beginning stage of entrepreneurship.  This is very different from working 9 to 5 with benefits and with a fixed salary. As an agent, schedules are flexible and income is based on an individual’s efforts and how much they are able to manage. 

One of the most asked questions in the beginning state of a Real Estate career is, “how much will I be making my first year?” It’s all up to you – based on how much YOU are able to generate business and it all depends on your effort.. 

Here are some tips for you to help you through your first year!

• Prepare yourself financially AND mentally
  • Being an agent in the beginning can be a bit tricky. You won’t see your first paycheck for a while, therefore, it is important that you budget for a slow start and don’t get discouraged if it takes a while for money to be generated. REMEMBER! It’s all about steady commitments to grow your client base and then it gets easier from there!
    
• Make Goals/ Plan
  • Make goals that you can strive to attain. It is important to keep these goals in line with reality. Along with goals, there should be an action plan of how you are going to achieve it. Goals often help you stay focused and find purpose. 
  • Check out the National Association of Real Estate’s 7 Essential Components of a Business Plan

• Find a Mentor or Coach
  • The first year can be intimidating for many individuals, therefore, it is important to have someone that is willing to guide you towards a successful real estate career. A mentor will be able to boost your confidence and knowledge by providing an important source of information. Finding a mentor can be tricky as well, when looking for a mentor look for someone with a reputation who you are able to admire and look up to. Read reviews about them to get a better insight of who they are before choosing them as your coach. Who you choose can have a lasting impact on your success. 
  • We have a Success Your First 90 Days class here at the Center for Real Estate Education with Real Estate Coach Susan South.  All students from her class are urged to ask her questions about their business plan and business growth.

• Build a Network
  • Your circle should be networked with  mortgage lenders, real estate agents, home inspectors, property managers and other trusted professionals that will be beneficial for you along your path. Attending seminars and workshops will allow you to connect with people in the best way. REMEMBER! Networking is one of the main ways to reach success. Happy clients will refer you to friends, so your circle has the potential to grow.
• Building a schedule
  • Although having a flexible schedule can be an advantage, sometimes it has the potential to become harmful as well. It is important to have days where you KNOW you have to put the time in. Allowing yourself scheduled time to do the work will get you adjusted to new work habits and help you make a smooth transition to your new career. 

First year of being an agent is always the toughest. If it wasn’t, then everyone would be doing it. It is up to you on how you want to spend your time learning new materials and understanding the market of real estate as well as understanding people. Altogether, it will help you obtain success. Ambition alone is not enough, real estate requires dedication and networking skills. Keep striving and stay goal oriented to see faster results!