Top 25 Tips From The Pros For New Realtors
The world of real estate is not for the faint of heart. If you are just getting started in real estate, you may have already realized just how hard it can be to become a successful agent within your local market. However, with the right advice and guidance from experienced real estate professionals, you can learn various tips and tricks to help kick-off your real estate career on the right track. We have compiled the following 25 tips straight from professionals who have been in the field long enough to know what works and what doesn’t.
Here are the Top 25 Tips From The Pros For New Realtors:
1. Use Premier Agent Search To Expand Your Reach
Using a premier agent IDX search system gives real estate agents an advertising platform and a wider breadth for reaching new audiences. An IDX search option will also give you credibility and incredible exposure when just starting out. According to the experts, you get $2.60 back for every $1 you spend on an IDX solution.
2. Go Out There And Look For Deals
The real estate business is not like most other businesses. For instance, if you own a restaurant, you get up every day, open your doors, and wait for customers and patrons to walk in. With real estate, you need to get out in the world to connect with people and find good deals. No business will ever be done if you just sit at home or in the office.
3. Track Your Finances
Remember to track your finances–especially if you don’t have an accountant or financial advisor. Figure out a yearly budget for all of your business expenses and keep records and receipts for all the money you spend. Also, open up a separate bank account to handle your business finances and maintain an up-to-date profit and loss sheet.
4. Use Your Strengths To Brand Yourself
Every buyer knows that you want to “help them get the home of their dreams”, so you can’t use this cliche to shape your brand. You need to find something unique to help you stand out from the crowd. Think carefully about what you want people to think when they hear your name. What strengths do you have that would make a potential buyer or seller prefer you to another agent in your area?
5. Partner Up With Real Estate Digital Solution Company To Generate Leads
Upgrading your IDX solution is the best way to generate more leads since search ease and quality is a huge priority to end users looking at houses in their local market online. With a VIP IDX solution, your digital listings and assets will be optimized for any mobile platform and also have customizable setting options available. As a new realtor, this will eliminate competition from more established agents in your area.
6. Offer Sellers’ Estimates
One of the easiest ways to identify potential sellers and capture email addresses from your web traffic is by including an online form on your website that offers visitors a free estimate of their property value.
7. Have Lead Forms On Your Facebook Ads
To make your Facebook ads even more effective, add lead forms to help you capture lead information like names, phone numbers, and email addresses. You can then add the leads to your database and use them in email marketing campaigns.
8. Focus On One Specific Area
The real estate market is heavily segmented. There are many ways to get business, but if you try to juggle too many tools, you will be a jack of all trades and a master of none. Focus on one marketing avenue until you’ve mastered it before moving on to the next one. If you choose one marketing avenue such as social media, FSBOs, or videos, stick to it until you start seeing results in traffic or conversions.
9. Don’t Have Just One Lead Generation Channel
However, don’t get bogged down with just one digital marketing channel. Make it your long-term goal to find at least five ways that work for you and get to work. To be successful, you will need to constantly come up with fresh lead generation techniques regularly.
10. Utilize The CE Shop To Grow Your Knowledge
The real estate industry is always changing. The CE Shop helps you stay up-to-date on what sales channels are available to you and what other agents are doing to grow year over year. Whether you need pre-licensing, post-licensing, or continuing education, The CE Shop is a useful tool for both emerging and established real estate professionals.
11. Persistence Is Key
Building a successful real estate business does not happen overnight. It takes a lot of time and hard work to become successful, and you must be willing to put in the work yourself our outsource your lead generation tactics efficiently to build your audience and network.
12. Partner With Movers
Moving companies can be very valuable to a real estate agent since they usually know who is selling or looking for a new home. Give movers incentives to refer clients to your company via promotions such as offering to cover the partial or full cost of a move.
13. Spend Your Advertising Budget Wisely
Along with organic search results, paid advertising is a must if you want to generate online leads, but it has to be properly strategized or else you will end up wasting a lot of money. Start off by researching and defining your target market(s) and choosing the best advertising channels to reach them.
14. Hire A Professional Photographer
In the modern world, chances are most of your potential buyers will want to see photos or a virtual tour of a house first before they actually visit the property. Using poor-quality, non-professional smartphone camera photos for your listings will hurt your reputation and turn away many potential buyers. Hire a professional photographer to take high-quality photos that capture all the details a potential buyer would like to see. It might seem like an unnecessary expense, but the return is tenfold.
15. Practice Due Diligence
Never take anything anyone tells you as fact unless there is proof. The real estate world is full of conmen and frauds that could steal from you if you are not careful.
16. Work In A Busy Office
If you want to learn and develop your network fast, consider joining a team or finding a tip producer with an overflow of business. They could give you leads as well as valuable advice and guidance to get you started.
17. Create Your Own Personal, Relatable Brand
Studies show that when people are choosing an agent, they do it based on the agent’s personal qualities as opposed to the agency they work for. Even if you are working under an agent, build your own brand and if your clients like it, they will follow you wherever you go.
18. Don’t Be Afraid To Ask For Advice From Peers
When making a crucial decision, it is important to seek insight from other agents and professionals in the industry whose opinion is valuable and would be of help.
19. Find A Niche That Works For You
The real estate market has many niches, some of which may work for you and others which may not. Examples of particular niche markets include student housing, senior housing, retirement homes, apartments, and many others. If you take on too many of these, you will be competing against many other agents casting the same wide net. However, if you specialize in one area of real estate, you can become a trusted authority in that niche which makes you the go-to professional for people interested in that niche.
20. Build A Website
You can’t have a successful business today without a website. Your website helps you drive traffic, generate leads, and provide a place where your clients can get information about your business to communicate with you when they have questions or need assistance.
21. Be Ready For Dry Spells
Just like every other business, the real estate market can sometimes be hit by a recession due to factors that are out of your control. In fact, sometimes you can even go months without making a deal. When these circumstances hit, you will need to have a financial cushion to ensure that your expenses are covered during the slower months.
22. Be On The Lookout For The Latest Technology And New Digital Marketing Strategies
In the world of real estate, there is not a single day that goes by without you learning a new thing. To stay ahead of the game, stay up-to-date with new developments, technology, trends, and new marketing outlets.
23. Put More Effort Into Your Social Media Presence
Social media is a great way to stay connected to your clients and communicate with them directly. Social media makes it easy to find you online and makes you seem approachable to potential clients. Create accounts on all leading social media platforms, as well as on real estate listing websites.
24. Create A Strong Network
Networking is vital in the real estate business. It helps you interact with other professionals who can give you leads or great advice to help your business. However, stay within the laws and ethics while networking and be ready to answer the phone when others need your help.
25. Join A Brokerage With Solid Training
You need all the training you can get when starting out in real estate. Find a good brokerage with active, continuous training–not one that just gives you a few days of classes then throws you into the deep end. If possible, find a mentor to take you under his/her wing.
Do you have any more questions about lead generation or online marketing hacks when embarking on your real estate career? Contact our team of experts here at RealtyTech by calling 805-413-7888, or request more information about our digital assets and solutions here.