How to get started as an agent?

Question

What can I do to prepare me to become an agent once I get my license? Should I start memorizing scripts, analyzing my market, etc?

Robert Whitelaw · Answer

Hi Kenji,

I am going to make some suggestions on this one. This comes from over 25 years experience as an agent and a real estate broker in California.

Step 1 - DON'T LIE. I mean this in the strictest way possible. You will be tempted by the casual real estate lie. In fact, if you join a big office, you are likely going to be trained in the art of the casual and "excusable" lie. Never rely on plausible deniability or having to say, "I didn't specifically say that". You are going to be given scripts that are going to contain these kinds of casual lies. Do not allow yourself to accept these teeny little misrepresentations as something you should tolerate. Let me give you a couple of real world examples, never contact a for sale by owner by telling them you have a buyer who wants to make an offer unless you actually have a buyer that wants to make an offer.

In my case, I am getting my property ready for sale. I am doing the usual staging plus some more involved remodel work. I decided to use the "Make Me Move" feature on Zillow. I picked an amount I would take for my property before doing all of this work I had planned. I figured it would be a good way for a buyer to get a good deal and if they did the work themselves, be able to pocket about $100k worth of equity after they did the work I planned themselves. After doing that, I began getting messages from real estate agents. As of today, I have received 19 contacts. All but one of them opened contact with me by using a lie. There were two basic lines:

• I have a buyer ready to buy your property
• I am an investor who wants to buy your property

In all these cases, what they really wanted was a listing. Of course, if they had actually read the description of my property, they would have seen that I point out that I am a broker who will not be listing with any agents. So I suppose they all failed 2 intelligence tests. Of course, now I have made note of these folks and will never send a referral their way. Then there was 1 agent that reached out and just honestly informed me that should would be happy to list my home if I decide to go that direction. She wins, because now she is going to get all my referral business for the county she is in.

Here is the downside. Lying works. Remember those 18 agents that lied to me? Well, 4 of them were top producing agents/teams in my area. Lies tend to be sexier and once you are willing to let go of the truth, you can really ramp up the appeal of whatever line you are selling. It only costs when you get caught and it is all a numbers game - right?

Ok, now that I am off of my soapbox, I think you have the right idea. Become THE expert in the market you choose to serve. Visit every single property that comes onto the market. Run numbers, spot trends, be aware of the plans the city has for future development, get connected with what is happening with lending in your area. Then start sharing that knowledge with the folks in the area you want to serve.

You will get plenty of trainings from whatever brokerage you sign with that will give you what you need in terms ideas for self promotion, marketing, farming, etc. Just don't let them talk you into the casual lie.

Good Luck,R

Joel Owens · Answer

Be a non-conformist. Stand out, be unique, be seen as different and special in the field in a good way by each client and word should spread and referrals start pouring in.

Pick a specific part of real estate you like and focus everyday to become not average but a world class expert in it.

Many brokers and agents are lazy and just want to be average and comfortable. To be at the top takes extreme drive and passion while managing work/life balance to be fulfilled in all other parts of your life. It's not easy or everyone would be doing it! lol

To do something that not many others are doing is very fulfilling. It's about challenging yourself each day to reach your full potential and being content you are giving your all each day. Money is just a byproduct that happens from all the smart work and efficiency created.

Stanley Parsley · Answer

I'm not sure how it works in CALI but here you have to work for a broker for a couple years before you can go on your own

if you have experience in real estate and have done a few deals then you should be ready to go get it done

if you haven't done any deals then the first thing I would suggest is you get you a property tide up

you should know your markets in your area and try to focus on what you are going to specialize in-wholesales, rehabs, foreclosures ect..

find your network, bankers, HML'S, title companies, other folks who have done deals and are go getters, surround yourself with folks who are like minded and that don't listen to the word no

enjoy

Patrick Britton · Answer

Account Closed  1.)  analyze the crap out of the market.  2.) prepare a list of everyone you know (friends, family, dentist, neighbor, former co-workers, etc.) and write up a letter saying you are a real estate broker and happy to take new clients,   3.)   think of one or two forms of marketing you will do AND enjoy.  Enjoyment is key because it will be the fuel for consistency which is the most important thing.  For me, it's networking.  For others, it's cold calling, door knocking, internet marketing, mailers, etc.  Find out what you like and stick to it.

Ariel Smith · Answer

I totally agree and love what @Patrick Britton said! When you are new, you don't really have any sort of advantage when competing for business against an agent who has done more deals. However, there are certain things that you can control! Things like your market knowledge, having a niche or something special that makes you different, and tenacity and spunk!

The best thing you can arm yourself with quickly is knowledge. Learn your market like the back of your hand. Go visit open houses and observe the property (and other agents!) Find out what planning projects the city has coming up. Study the schools and which ones are more desirable.

Learn the contracts. Read them over and over and over. Practice filling them out with made up scenarios. You should be able to explain them in layman's terms easily.

If you focus on these things when you're new, you will ramp up very quickly. Then you'll find that when you get in front of prospects, you will feel much more confident in your ability to do an amazing job as their agent.

Best of luck!

Bryan Hancock · Answer

+1 on being different.

If you learn to accurately analyze investment opportunities you'll be in the top 1% of brokers or agents.  It never ceases to amaze me how uncommon this skill set is in the industry.

Teddy Smith · Answer

When I first started I cold called financial advisors and asked who they recommend a realestate agent for investments. 90% of them had nobody so I introduced myself and talked for a bit. I got some business out of that. I networked down at the chamber of commerce a bunch too.

In terms of investment properties there's lots of ways to prospect including absentee owners, financial advisors (like I mentioned), expireds. Learn how to skip trace OP and starting hitting the phones.

Mike Cumbie · Answer

Hi Account Closed

Hi

My couple suggetions.Make a list of things you must do in a day- Get into X Real estate conversations with new people daily regardless.- Steer conversations to Real Estate- Give out X cards a day or put on boards- Call X number of expireds or FSBO- Send out X number of Post cards to FSBO and expireds.- Reach out to X number of people you don't see often (Happy Birthday, how are the kids, the market is good right now... etc etc)

Make those numbers you can reach in a day (Maybe 3 or 5). You can always go over but you have to stay working until you have accomplished that number so don't make it where you are just doing those tasks all day. Some days you will have inspections and 8 showings so make your "daily tasks" something you can do in about 2 hours.Good Luck!

Robert Whitelaw · Answer

Thanks Bryan. Just a note on the Do Not Call list. My understanding (Believe it or not there are actual classes taught on how to get around the DNC list) is that if you advertise your home for sale, that is considered a public solicitation and if someone calls regarding that solicitation, then the DNC rules do not apply - as long as the agent is calling the number included in the FSBO ad. However, if you are trying to sell as an owner, one way to get around that would be to simply state in all advertising something to the effect of "Only direct buyers, no real estate agents should contact the seller". Mix that with being on the DNC list and I would imagine you are then covered. However, not a lawyer.

How to get started as an agent?

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