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How To Handle Every REAL ESTATE AGENT Challenge With Ease Using These Tips

Every time I talk to someone about my business and career, it always arises that "they've thought about getting into real estate" or know someone who has. With so many people considering getting into real estate, and getting into property - why aren't there more lucrative Realtors on the globe? Well, there's only so much business to go around, so there can only be so many Real Estate Agents in the world. I feel, however, that the inherent nature of the business enterprise, and how different it really is from traditional careers, makes it difficult for the average indivdual to successfully make the transition in to the Real Estate Business. As a Broker, I see many new agents make their way into my office - for an interview, and sometimes to begin with their careers. New Real Estate Agents bring plenty of great qualities to the table - plenty of energy and ambition - however they also make a large amount of common mistakes. Here are the 7 top mistakes rookie Real Estate Agents Make.


1) No Business Plan or Business Strategy


So many new agents put almost all their emphasis on which PROPERTY Brokerage they'll join when their shiny new license comes in the mail. Why? Because most new Real Estate Agents have never experienced business for themselves - they've only worked as employees. They, mistakenly, believe that getting into the true Estate business is "obtaining a new job." What they're missing is that they're about to get into business for themselves. If you've ever opened the doors to ANY business, you understand that one of the key ingredients is your business plan. Your organization plan can help you define where you're going, how you are getting there, and what it does take for you yourself to make your real estate industry a success. Here are the requirements of worthwhile business plan:


A) Goals - What do you want? Make them clear, concise, measurable, and achievable.


B) Services You Provide - you do not wish to be the "jack of all trades & master of none" - choose residential or commercial, buyers/sellers/renters, and what area(s) you intend to specialize in. New residential real estate agents tend to have probably the most success with buyers/renters and move ahead to listing homes after they've completed a few transactions.


C) Market - that are you marketing yourself to?


D) Budget - consider yourself "new agent, inc." and write down EVERY expense which you have - gas, groceries, cellular phone, etc... Then write down the brand new expenses you're taking on - board dues, increased gas, increased cell usage, marketing (very important), etc...


E) Funding - how are you going to pay for your budget w/ no income for the initial (at least) 60 days? With the goals you've set on your own, when will you break even?


F) Marketing Plan - how will you get the word out about your services? The MOST effective way to market yourself is to your own sphere of influence (people you understand). Make sure you achieve this effectively and systematically.


2) Not Using the GREATEST Closing Team


They say the greatest businesspeople surround themselves with people that are smarter than themselves. It takes a pretty big team to close a transaction - Buyer's Agent, Listing Agent, Lender, INSURANCE PROFESSIONAL, Title Officer, Inspector, Appraiser, and sometimes more! As an agent, you are in the positioning to refer your client to whoever you choose, and you should guarantee that anyone you refer in will undoubtedly be an asset to the transaction, not a person who provides you more headache. And the closing team you refer in, or "put your name to," are there to make you shine! If they perform well, you can take part of the credit because you referred them in to the transaction.


The deadliest duo out there is the New AGENT & New LARGE FINANCIAL COMPANY. They get together and decide that, through their combined marketing efforts, they can take over the world! They're both focusing on the right part of their business - marketing - but they're doing each other no favors by choosing to give each other business. If you refer in a bad insurance professional, it might cause a minor hiccup in the transaction - you create a simple phone call and a new agent can bind the house in less than one hour. Nhà đất Huyện Cần Giờ However, because it normally takes at least two weeks to close a loan, if you use an inexperienced lender, the result can be disastrous! You may find yourself in a position of "begging for a contract extension," or worse, being denied a contract extension.


A good closing team will typically learn than their role in the transaction. For this reason, you can turn to them with questions, and they will step in (quietly) if they see a potential mistake - because they want to help you, and in exchange receive more of one's business. Using good, experienced players for the closing team will allow you to infinitely in conducting business worthy of MORE business...and on top of that, it's free!


3) Not Arming Themselves with the Necessary Tools


Getting started as a Real Estate Agent is expensive. In Texas, the license alone is an investment that will cost between $700 and $900 (not considering the volume of time you'll invest.) However, you'll come across even more expenses when you go to arm yourself with the necessary tools of the trade. And do not fool yourself - they are necessary - because your competition are definitely using every tool to help THEM.

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