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Some Advice For New Real Estate Agents

Aug 17, 2007
Many new real estate agents think that once theyve obtained their real estate license that the road to success will be easily obtained and quickly traveled. These agents experience a rude awakening when they realize the amount of time and effort that must be put into their work to experience even the smallest amount of success. Its rare that a new real estate agent can achieve a significant amount of success by working part time. This is does not meant that success is impossible. Rather, that it will not be gained so easily.

Expect to make a financial investment that will not be returned in a short amount of time. You will spend money when you first begin your career as a real estate agent. Some fees that a new real estate agent must pay include the business license, local Multiple Listing Service fees, Board of Realtor fees, training or certification required by your brokerage company, as well as expenses for doing business.

It is a good idea to have a healthy savings built up because it could take a few months for you to receive your first pay check. As a real estate agent, you are paid commission based on the houses you sell. The transaction must close before you are paid for the transaction, so dont expect to receive your commission immediately. It typically takes between thirty and sixty days for the transaction to close.

You will likely work long hours when you first start out as a real estate agent. In most cases, you will be allowed to make your own hours, but keep in mind that you might have to work around your clients schedule in some cases. By no means should your clients control your time. However, be prepared to make a showing in the evening or on the weekend in the case that a client does not have any other available time. This might not be your ideal situation, but it is often necessary.

Know that you are expected to be more than just a salesperson. Often, real estate agents forgo customer service for the sake of making a commission. Your clients want to be treated as more than dollar signs. Putting more into each deal gives clients a reason to refer you to their family and friends. At times, your referral network will prove to your best marketing tool. Do the work it takes to find the perfect property for your clients. Understand that there may be times in the process that your client needs emotional counseling. These are the aspects of a real estate agent that make clients want to tell their friends about you.

Discouragement can come easily during your first months as a real estate agent. It might seem like everyone around you is closing deals while you struggle to find clients. When you start to feel this way, remind yourself that you are just starting out and these people have had years of practice. Until you build your referral network and other marketing strategies, finding your clients will be entirely up to you. You will have to resort the manual method of overturning every stone to find clients. With some practice you will refine the way you find new clients and the new guy in the firm will look to you for advice on finding clients.
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