Graduating from a real estate licensing course is extremely exciting, but the task of finding the right brokerage, starting your career, and learning the next steps can be daunting. Having been there myself, and now coaching and training many new agents, I always use the following tips to help new agents start their careers.
1. Find a Brokerage That Offers True One on One Coaching/Training – Unfortunately for new agents, most licensing courses are rich with facts on real estate laws, theory, and how many square feet are in an acre (43,650 square feet – I had to google it to be sure), but they fail to teach about the practical aspects of being a successful agent. Make sure to interview with different brokerages and ask exactly what kind of coaching and training the brokerage offers.
As a newly licensed agent, you are now a business owner. The brokerage should act as a consultant to help you grow your business. Do not rush into the decision of picking a brokerage, and make sure you find a place that will help guide you to success, not just allow you to hang your license with them.
2. Be Consistent – The biggest hurdle for most new agents is keeping the faith for the first six months to one year of being a real estate agent. Keep in mind that the first year of any business is the hardest. As a new agent, you are building a business. Stay consistent with your marketing and your coaching/training, and show up to the office to learn from those who are already successful.
Two of my favorite quotes in business are “80 percent of success is showing up,” and “Action is the fundamental key to all success.” If you show up, and take action after being coached by your leaders/mentors on a consistent basis, the end result will be success.
3. Don’t Be Afraid To Let People Know What You Are Doing – There is that all-too-popular saying, “Always Be Closing (ABC),” but I coach “Always Be Marketing.” It takes marketing to get to closings. Our business might be selling a product (a home), but the best salesperson does not always make the most successful Realtor. Truth is that you could be the best salesperson in the world, and you could never “Sell” a person on a home they do not like. Homes are simply too expensive of a purchase to “Sell” someone on. I tell new agents that I am an awful salesperson.
It is true, put me on a sales floor, and I’d likely find the first corner to hide in. I became comfortable with real estate when I realized that it was not about sales, but rather about finding the people who want to buy and sell and then helping guide them through the process. To be able to find these people who want to buy and sell, you need to market to them. Whether you are marketing to your sphere of influence on social media, or you are chatting with friends/family at a get-together, do not forget to let people know you are active in real estate. The more leads you receive, the more sales you will ultimately produce.
4. Don’t Let Failures Deter You – This tip might sound obvious, but every successful real estate agent has had days, weeks, months and sometimes several months in a row where they have had a string of lost deals or bad circumstances. It will happen to you at some point in your career, and it has happened to me many times. You are not alone. Every time I hear about one of my agents losing a deal, it absolutely kills me inside, because I know how they feel at that exact moment. I encourage them to not let that one deal keep them from trying to see themselves closing the next deal.
The only true failure is when you stop trying. Your first six months to a year may be full of what you view as failures – do not see them as such. I assure you that if you listen to step two (stay consistent) and also listen to your coaches/mentors, you will ultimately find success, not failure.
5. Keep On Learning – Learning should never end during one’s life, but if you are embarking on starting your own business, learning is a MUST! I tell agents to set aside time each week to read articles about real estate in general and marketing, or to research those who are more successful than themselves. I am consistently reading and learning from my peers.
The beautiful thing about real estate is that many successful agents in our industry have shared their knowledge with the community. I am blown away by how willing some top-producing agents are to helping newer agents succeed. Read at least one book a month about something that has to do with real estate, business, marketing, self-growth or motivation. Knowledge is something no one can take away from you, and learning is something you should aspire to do every day for a lifetime.
Mo Dadkhah is the broker/owner of Main Street Real Estate Group, and the president/attorney at the Dadkhah Law Group. He was born and raised in the northern suburbs of Chicago, and has been a resident of the city for the last eight years. He attended both college and law school in Chicago, and in his free time enjoys racing sports cars, competing in Jiu Jitsu and spending time with his friends, family, girlfriend and german shepherd Maverick.