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I’m doing a bunch of elearning from my agency... what do I do after? How does one real estate?
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- Cody, WY
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Originally posted by @Jeremy Gates:I’m doing a bunch of elearning from my agency... what do I do after? How does one real estate?
The simplest way to explain it: know your market and know people.
Study the market. How many homes are listed? How many went under contract? How many closed? What's the average days on market? What's your attrition rate? What's the average sales price? Who's buying or selling? You need to figure out what a GOOD agent would know and then find that information and study it every day.
Once you have a decent grip on the market, then you go out and meet people. Let everyone you meet know that you sell real estate. When they ask, "How is the market?" you will be able to answer them intelligently with real facts and figures instead of "it's a strong market" like 90% of all agents do. Get involved in volunteer groups, join a board, attend sporting events, go to business open-houses, etc. There's no magic formula: people tend to buy/sell with the agent that happens to be on their mind at the moment they decide to buy/sell. Your job is to get in front of them and stay in front of them so they'll choose you when the time comes. It helps if you actually know what you're talking about, as mentioned in the first paragraph.
@Nathan G. What is the best way to learn about the market. Is there a magazine?
1) What do you want to do in RE?
2) Explain that do your agency or principal broker and ask how
3) Don't use blogs for advice or in reliance
I would try and find a mentor in your area. A person that you can provide value to and also learn from at the same time. @Jeremy Gates
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@Brandon Goldsmith yeah that one makes sense
@Steve Morris this is also true they have given me some resources.. this is more to figure out which direction to head. What is the easiest thing to gain a handle on when you start
You should read "The Millionaire Real Estate Agent" by Gary Keller. That book lays out the steps for you to be successful. Good luck getting started!
@Jeremy Gates real estate is just a sales/lead gen/relationship business. Best thing you can do is find an agent who has figured out how to buy leads and has too many leads to deal with. Then get those leads and learn from the experienced agent. After they help you through your first few deals, you’ll be ready to go kill it on your own
@Sean McDonnell I’ll Add it to my list I’m reading the mike ferry one now and just finished blink which isn’t a bad read
@Connor Cushman true enough a lot of my agency already has teams. I’m odd man out :/
@Jeremy Gates I've discovered that my area has far too many agents for available listings, new construction is strong but they dont generally use realtors.
Local investor group member pointed out 425 agents for 77 listings in largest local community. Since I am also new, I would like to have mentoring but folks are not motivated to help. I have discovered gross neglect within my local industry which has crossed into unethical, possibly criminal neglect, proving the deep need for mentoring.
If you can find a mentoring brokerage, local builder who will give you listings or flat fee for open house, or other real estate related side job, you may find it accelerates your business.
@Jeremy Gates find a different agency. Shop around. I’m certain there are teams near you that have too many leads and are letting some of them sit and would be happy to bring you on to handle them. Your situation may not be ideal at first, but grind to get those first few deals and over time you become a more valuable recruit for other agencies. Find people with a growth mindset and find good people that aren’t just going to money grab your commissions.
@Connor Cushman I also get leads for free from my agency. I chose mine because they give you free leads lmao I’m doing learning to know what to do with them.. it’s just a matter of learning the talk and the marketplace
@Jeremy Gates
Find a home inspector that will let you ride along for a day. Learn everything you can about the houses themselves. This will serve you well when a listing comes to you.
@Amos Mainville actually a great idea
Originally posted by @Jeremy Gates:@Amos Mainville actually a great idea
I am a NY home inspector. Love humble agents that are looking to learn. Can't stand pompous windbags that think they know everything
It's fantastic that you are self educating, but keep in mind that most of your learning and experience will come from completing the actual deals. Keep up your drive @Jeremy Gates
I'm in the same boat! I just started my e-courses. Message me and maybe we can zoom and go over what we learn/ prep for the exam together!
@Sammie Olson sounds good to me thanks my inbox is always open
@Marlen Weber thank you for the encouragement
@Amos Mainville thank you thank you I appreciate the encouragement
Welcome aboard King!
All messages above are great answers. I would repeat what they said. Plus books, YouTube, mentors etc...
Also, It takes having a go getters mentality. The industry is flooded with a bunch of wannabe agents. Those at the table 1st eat good.
Good luck king, good energy your way.
Hey Jeremy, here are some resources that I use to keep up to date with things:
https://rismedia.com/category/...
https://www.nar.realtor/blogs/...
https://www.nar.realtor/resear...
Spend some time checking these out and let me know your thoughts. Also, let me know if you have other resources that you think would be helpful to review.
Best of luck.