These three tips will ensure you succeed as a new real estate agent.
Statistics show that 45% of real estate agents have less than two years of experience. If you’re new to the industry, how can you ensure success? There’s no magic formula, but there are a few strategies you can use to give you a leg up. Here are three things you need to do if you want to find success as an agent:
- You should have a six-month reserve. The six-month mark is critical, because for the first 90 days, you’ll just be getting your feet wet. You may learn how to write a contract, but getting to the point where you’ll make money could take some time. For the first three months, you’ll be absorbing everything that you possibly can; you’ll likely start making money in the following three months.
- You should treat this as a career. About 87% of the agents drop out of the industry within two years. Although that number might seem high, if you treat this as a career, you’ll easily be part of the 13% who make it. You have to be ready to put in the effort, learn what to say, understand the market network, etc. If you do, you can provide value to your clients that will eventually pay off over time. Don’t focus on making a certain dollar amount. Focus on becoming the person that you need to be to make that amount instead.
- You should find a mentor. If you want to be a serious agent, you can’t get there alone. Find a mentor you trust and absorb everything you can from them. It’s like being a chef when you first start out. You need a good recipe before you can eventually go off on your own. The current real estate market and lack of homes in the area have made it very challenging for agents across the country to sell homes. Despite there being so many buyers, inventory is still at an all-time low almost everywhere in the United States. We’re now bordering on a housing crisis, making this one of the hardest periods to work in as a real estate agent.
However, despite what the current market looks like, not everyone is struggling. In fact, our very own agent Rob Strum has been working with us for only four months, yet he’s already on track to serve 70 families this 2022. Before joining our real estate team, he was serving around 10 families a year. There are many agents, especially those with great teams behind them, who are still pulling great commissions and selling lots of homes. So how do they do it?
“Don’t focus on making a certain dollar amount; focus on becoming the person that you need to be to make that amount”
According to Rob, the secret to his success has been the team structure that the Dave Friedman team has. If your brokerage has high-quality leads constantly coming in, it will be much easier to build relationships with serious buyers and sellers.
If you’re considering a change and want to start making more money, visit our website, give us a call, or send an email, and learn more about who we are, what we do, and also how we can make you become a better agent. We’d love to connect with you!