For new real estate agents first entering the market, it can be an exciting – yet daunting – time in their career. Many ask themselves, “Okay, I’ve passed the state test, now what?” But as Tigi Tasso, broker and licensed instructor with john greene Realtor explains, there are steps new agents can take to combat the common challenges they’ll face when launching their real estate career.
5. Lack of Real-World Experience – When starting out, rather than relying solely on the nuts-and-bolts of real estate, new agents should consider opportunities that will help them apply classroom knowledge in the real world. Brokerage firms that align new agents with experienced agents for field training and mentorship programs, provide critical hands-on experience not available in the classroom.
4. Inability to Manage a Portfolio – Regardless if new agents master the necessary skills to be a good agent, if they are unable to build a client network, they will not make money. And if they do not make money, they will not stay in the business. Fostering new relationships and nurturing existing ones, should always be top of mind for agents trying to build a portfolio.
3. Complicated Technology – There are many tools that are available to agents, but even the most technologically savvy agent can find it overwhelming to learn. Continual training, whether provided in-house or through outside industry groups, is key to helping new agents master tools, know the latest options available, and navigate what does and does not work for their business.
2. Absence of Partners – New agents are starting fresh and have yet to establish the relationships that are critical to the transaction process. Brokerage firms that offer an in-house lender, and can link new agents with partners, such as attorneys and home inspectors, will help new agents to manage the process and deliver a positive experience for their clients.
1. Short-Term Focus on Training – Initial training and onboarding programs are key to educating new agents, but training opportunities shouldn’t stop after the first few weeks on the job. Attending workshops and other educational sessions led by experienced agents long-term, helps new agents perfect how to build a portfolio, create a referral business and master the transaction process throughout their career.
Tigi Tasso is a broker and training and development director at john greene Realtor, one of the largest brokerage firms in Chicago’s western suburbs. Tasso holds 15 years of industry experience, is a licensed instructor, and is member of the Professional Standards Committee for the Mainstreet Organization of Realtors.