Embarking on a new Real Estate career is an exciting time. New Agents are often ready to hit the ground running before the ink is dry on their FFC.

Many new Agents learn the business as the problems fall in their lap or by making mistakes.

Here are seven common mistakes you might be making as a new agent.

  1. Your choice of Firms

Real Estate Firms are not a one-size-fits-all – they come in man shapes and sizes, just like people.  Determine what your goals are with your new career, and find a company that aligns with your needs and where you are comfortable with the company culture and training.

  1. Negotiating does not have to be Ugly

Much of Real Estate is negotiating. Agents negotiate with Clients and other Agents on a daily basis.

Negotiations are about how to best serve your Client, not about how much you berated the other party into giving up something.

  1. Being the know-it-all

Getting your EAAB Fidelity Fund Certificate does not mean you are an expert in the industry. Take training seriously, and take training courses often.

I can tell you after 10 years+ in the Real Estate business, I still have a lot to learn. The Real Estate industry changes at lightning speed, and every day you wake up, it’s a new day in Real Estate.

When you are new, it’s OK to not have all the answers. Work to find the answers, and try to learn something new every day.

  1. Throwing manners and etiquette out the window

Understand and appreciate your seller Client’s boundaries on Show Days.  It is not a buyer’s home until they’ve bought it and thus they need to respect the property when viewing.

Set the proper boundaries with your Clients at the start of your relationship.

  1. Jumping for every new lead opportunity

All business is good business and a learning opportunity when you are new. But it’s important to create a habit and a system early in your business to run it like it is — a business.

Real Estate is a relationship business. Spend time qualifying new buyers or sellers before you run out the door to meet a random stranger at a home you don’t know.

Ask them questions to find out more about their property needs and how they found your information, and find out what stage they are at in the home buying or selling process before meeting them.

  1. Not treating your Real Estate business as a business

Being an Estate Agent is in fact, owning your own business.   Owning a business means you will work harder than you have ever worked before.

As a new agent, a business plan is essential. This will help you map out where you will spend your money, and it will help you remain consistent with how you will develop your Client base.

  1. Buying leads, trinkets and other shiny objects to grow your business

Buy leads, trinkets and shiny objects when you have the business systems, staff and money to pay for them. Until then, don’t.

As a new agent, there is no replacement for hard work, networking and learning. It’s easier to add on more layers to diversify your business after you have learned how to manage the fundamentals.

Mistakes, even those that seem simple can cause an agent to lose valuable time, money, or worse, be faced with an ethics violation for not conducting yourself professionally.

Spend time working on your new business fundamentals and work to avoid these simple mistakes as you embark on your journey as a new Real Estate agent.

 

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