How to start gaining traction

[Account Closed]

Hi all!

I've been interested in real estate for quite some time. Quick back story, I was a student at DePaul from 2017-2019 on a full scholarship. After switching majors  times, I realized it wasn't for me, left, and started working as a leasing agent in early 2020. Shortly after the pandemic hit so my career took a total halt. I was and have been doing Uber Eats deliveries to keep myself afloat. I'm proud to say that in March of this year I got my Real Estate license and am officially a Realtor.

I was working at a small local brokerage from March to early May. Unfortunately, my experience here was not the greatest. There was no training whatsoever and such a lack of support. I mainly chose it because of the cheap monthly desk fees, but I realize now that you get what you pay for. I am currently at Coldwell Banker and am feeling like much more of a "professional." However, I just feel quite lost. I am trying to figure out how exactly to establish myself and get clients, but don't know where to go from here. So far, I've taken whatever listings I could from my fellow agents and am posting sales on Facebook and rentals on FB and apartments.com. Aside from that, I try posting on my Facebook page at least 2 times a week. Usually with just an article or some helpful real estate-related tips. I've done one open house so far for another agent, but unfortunately due to bad weather nobody was able to show up.

I just think I need to be doing more. I've been reading up on farming and want to get postcards sent out to around 200 houses to farm. I'm just not sure what exactly to include in these farm postcards. I'm wondering how else I should be advertising myself. Should I make an introductory video of myself and post that? Should I be promoting ads on Facebook with ad credits? I am an extroverted individual so I wouldn't shy away from any suggestions. I think my biggest concern as far as advertising goes is my budget. I left school so that I could dive all the way into Real Estate without other obligatory distractions; burning the ships, as Brandon Turner says. So while I am dedicating a lot of time to it, the time I have off is usually doing Uber, and between rent and my desk fees, I can only spread my income so thin.

Lastly, I hear a lot of talk about finding a niche, but is this something that comes from experience? I am wondering if targeting pre-foreclosures is a good idea for a new agent to try getting some listings.

I really hope this post doesn't come off as a needy or lazy one. I'm more than willing to do the work and grind, but I think some direction could really help me. Thanks all.

[Irene Nash]

Hi @Account Closed,

Congrats on getting your license. All the questions you ask are good ones. Here's my take based on what I've seen and experienced over the last 20 years.

Sphere - most agents when they start out are told to do all kinds of things to initiate contacts that will lead to business, but are not told to reach out to their family, friends, colleagues, community group members, etc.

I totally understand we don't want to bug these people and an agent will usually say 'none of them want to buy or sell right now' but that is totally not the point, and it's an enormous loss of potential business. Your sphere can actually be the core of your business.

Each one of them knows a whole other network of people you don't know, and if they think highly enough of you to recommend you they will, to those many people you would otherwise not be able to reach.

So how do you reach out to your sphere?

1) Consistently - at least once a month, ideally a bit more. (Some people will say weekly, at least in the beginning, I'm not saying that's wrong, but most agents will burn out or run out of money). If you manage once a month for a year you'll probably be in the top 20% of agents as far as consistent communication.

2) This ties in to your question about what to send - with info of high value. Of course you don't want to send salesy stuff, instead send something that anyone will find interesting (85% to 95% of people in your sphere are likely not buying or selling in the next year anyway, your info needs to speak to them). 

-- Anything that helps them increase the value, safety, or enjoyment of their real estate - or their future real estate - is a no-brainer. Who says "I don't want to hear about something that will increase the value, safety, or enjoyment of my home"?

I like trainer Brian Buffini's method of showing competence and character at the same time.

One thing I used to send out once a month that people really liked was a nice half page size glossy postcard that had local events for that month listed on the color postcard side, and on the back side had a note from me with a paragraph about how the market was doing. The bonus with the events postcard thing is that people tend to keep it around for the whole month, so make sure you info and ideally your business headshot are on the front.

As far as your farm, it's good to do the same kind of thing - always have something that shows competence, like a market update, but if you can include something else that's useful or funny (truly funny) that sets you apart or makes them think -'gee, that's helpful, I think I'll keep this) then that's better. 

The Lighter Side of Real Estate (I am not affiliated with them at all) has funny stuff you can share for free with their branding, or you can subscribe to remove the branding. Their stuff is truly funny. And you can use their posts on Facebook, etc.

Don't feel like you need to try to get actual sales from your sphere, that will come.

Buffini teaches to ask 'if you had a friend who were buying or selling a home, do you have an agent you'd refer them to?'  This is a low pressure question.

If they say no, then you can say 'I'd love to be the agent you refer your family and friends to. I send out market updates and helpful home tips to my clients every month, would it be OK for me to include you on that so you can get a feel for how I work? That way you can feel good about recommending me to the people you know.'

The goal is to get them on your CAP (client appreciation program) and then DO it consistently, even if it's just once a month, send something that shows your expertise and also that you're a decent person. People need to hear from you multiple times to forget a connection and trust your expertise in real estate.

Do not overcomplicate it or it will not get done, if you're like 99.5% of the rest of us. :)

Don't underestimate your sphere, they should be your best resource, these people know and like you and by approaching them like this it's super low pressure, won't make you feel salesy, and eventually of course if they like you enough to recommend you they'll use you as well.

PS. If they say 'yes, we have an agent', you can say 'that's great. It sounds like you have a really good agent that you like a lot. If down the road you ever come across someone who you think would be an especially good fit for me, please feel free to reach out and I'll do my best to make sure they have a great experience.'  And then leave it at that, it kind of plants the seed and you never know.

Aside from that, gaining traction is a huge topic. YouTube is great, and is a search engine, unlike Instagram and FB. If you're comfortable on video, go for it, most other agents won't.

The main thing is, the same concepts apply - be consistent, and provide useful information. Mainly be consistent. :) And use local keywords in your video titles. (Don't keyword stuff, but make sure your market update video title has your town name and state and other relevant terms in it.)

Niching can work but frankly it had better be a darn huge or high end niche. If I had niched when I was told to I would have said good-bye to a lot of great clients who have sent me tons of referrals and repeat business over the years. I would recommend not niching unless it jumps out in front of you as a no-brainer. Pre-foreclosures are difficult and lots of work, IMO. If you do niche, try to niche up.

But your sphere (yes again with the sphere) is likely not pre-foreclosures, they already have a connection with you and they all know people who will buy and sell in the next year - start with them.

Good luck! Sounds like you're working hard and motivated and putting a lot of thought into this, which is great.