Getting Started in Real Estate









Friday, February 24, 2012 — There are lot’s of things that I wish I knew before starting in real estate. What they don’t tell you about real estate is a presentation that came from hundreds of conversations that I have had with agents and brokers across the nation. Working in real estate is a multifaceted career. One part industry expert, one part marketer, one part sales person, one part negotiator, one part tech support and lots of hard work. The bad news is: there is no silver bullet. The good news is: with consistency, focus, and some marketing smarts, you can create a good living as a real estate professional. There are very few industries where you can broker the sale of such big ticket items without years and years of experience. I would love to hear your thoughts on what it takes to get started and become successful in real estate.

What to Expect.

Treat real estate as a profession, not a hobby

Focus on both leads and listings, buyers and sellers

Put in the hours

Remember that you are an entrepreneur

Be open to clients and opportunities at all times

Measure and evaluate your performance

Set concrete, time-specific goals for improvement areas

Research trends, practices, and conventions in your local market

Know that you may work weekends

Have some savings to live on for the first 6 months

Be a cheerleader for what you do

Start prospecting and don’t stop

Use a CRM

Invest in your business and in your education

Consider a real estate coach

Do the stuff no one else wants to do

Work harder than your competition

Build Your Network

Get involved in your community

Join your local realtor’s association

Get to know public officials


Join a mastermind group

Participate at your child’s school

Join the board of an organization you care about

Treat everyone you meet as a potential client

Use a personal touch to stay connected with former clients

Maintain a presence online

Preserve your reputation by focusing on quality, not quantity

Embrace your personality

Promote causes and organizations you believe in

Be friendly, but professional

Build and keep up relationships with coworkers

Seek mentors, share concerns

Shadow and request feedback from more experienced agents

Research and talk to top producers in your community/region

Embrace Technology

Setup a website to build your brand and drive leads

Use a CRM to keep track of clients, listings and deals

Consider syndicating your listings for greater reach

Consider Craigslist to get buyers and sellers

Become a master of lead generation

Learn how to do SEO

Think in terms of building good systems so you can focus on creating relationship and closing deals

Set up your profile on the major social media sites

Educate yourself with books and blogs

Take classes and talk to more experienced tech users

Attend conferences to keep abreast of emerging trends

Recruit experts to help you build your technology portfolio

Market yourself with social media and networks

Get comfortable with smartphones, mobile technology

Use video

Don’t be a Luddite!

Choose Your Broker Wisely

Research company earnings

Research company clients; compare to your preferred niche

Research company, agent reputations

Compare franchise agencies with local/family-owned in your area

Interview brokers regarding:

Commission splits

Technology/administrative support

Marketing/advertising budgets

Training and education programs

Interview other agents regarding:

General satisfaction

Company culture

Management styles

Future plans

When starting a venture I always think about the Yogi Berra quote that says

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