I was too, a newbie not long ago, getting myself into a completely new industry far from what I already understood and exciting enough to push myself back into the game. I never doubted my decision to drift into real estate and become an estate negotiator. And the moment I decided on it, I somewhat knew what I wanted to do when I’m actually one. That made it easier for me to step right in and learn a little more quickly.
Thankfully, I’ve yet to be pushed too harshly by natural circumstances regarding my work and yes, knowing what to do and how to do it your way will definitely make you well-positioned and take things one at a time.
Not to be the one exactly giving top 10 tips here and there, but I do feel that someone out there, someone like me, would like to know – when they made up their mind to be in this industry, what can or should they do to make the transition easier? I have something in mind really, that probably could help clear some bits of the uncertainties there. So in order to help you get your new real estate business off to a running start, I’ve put together a list of 10 good tips for new real estate negotiators.
- Find the Right Real Estate Company: This is the most important point for any new estate negotiators. We are a nobody in this scene and we definitely need a team of professionals to guide us. Take your time to do a little local research about the real estate companies available. The one you should start out with must be able to afford you a sense of belonging and also, a principal knowledgable and humble enough to provide a thorough tutelage.
- Develop a Realistic Outlook: Many new real estate negotiators, gets disillusioned after some time – some even as short as a few months when they hit roadblocks and negative outcome, or wasted money by spending too much on marketing before they had properly built up their business, only to find that they ran too hard out of the gate and didn’t keep anything in store for the long haul. Keep the optimism in check and make sure you sprinkle some realism to it as well. Don’t lose momentum because of this and don’t spend too much, too soon.
- Come Up With a Business Plan and Stick to It: A good business plan will contain elements such as: your sales goals, your advertising, and marketing plan, your Overhead Expense Analysis, your Competition Analysis, and your USP (Unique Service Proposition) – a fancy way of saying “what makes you different than anyone else in the business.” Things will definitely change, but you need something solid to start out with. This will guide you on how you look for prospective clients, catching their interest and turning them into sales!
- Find an Experienced and Trustworthy Real Estate Mentor: You might understand how certain things goes in that first few weeks, but seeking out that someone who is well-experienced and with insider knowledge in tracking down leads finding actual buyers is the way to go. Seek out someone in your office who has already had significant success in your area, has a similar professional style to yours, and is open to doing some learning of their own.
- Create a Brand that Makes an Impression: You know your competition is going to be tight. You need to put yourself out there and let others recognize you and know you thru your branding, logo, color theme, style, slogan and whatever you think will set you apart from the rest. Build a personal brand. Be the outstanding ones. Always think that you are the best out there!
- Find the Right Niche: Most new agents tends to be a ‘hero’ and take on all sorts of properties, ending up being a jack of all trades. It is not wrong to start up that way but in the long run, you would want to be seen as a negotiator who is an expert in a certain area. Having tons of scattered listing not only decrease your creditability but also demonstrate the lack of specific expertise that most potential clients are looking for. Be an expert on condominiums, high-end properties or a certain area that you are comfortable working on.
- Learn to Sell Your Knowledge: For new negotiators, it is crucial to know the in & outs of real estate details like disclosures, transaction terms, legal matters and other day-to-day terms in order to communicate with your clients. Sometimes, it’s not enough to know only the basic knowledge. A good negotiator will do their best to provide the homebuyer’s guides and market information pertaining to your niche in order to build up your reputation as an expert in your chosen area of specialization.
- Be Productive and Set Goals: Because you’re self-employed, you don’t have bosses and supervisors setting schedules and making sure you get enough work done every day. This kind of freedom can be liberating, but it can also lead to a lack of productivity and a loss of income. The best way to maintain a high standard of productivity is to set goals for yourself and establish a routine that will help you manage your time effectively. You should set aside time each week to perform important tasks like cold calling, building client relationships, and looking after your marketing plan. If you don’t, these tasks could get left by the wayside and your business could seriously suffer.
- Treat Your Customers Like Gold: When we are new, typically, we do not have many listing and clients. When we have some, do make sure that we treat them how you would like others to treat you if you are the customer. Simply, the real estate business is all about services. We do not own any end-products so to speak, and to build the real estate business fundamentally, a fantastic service will definitely be remembered and possibly be rewarded handsomely in the long run!
- Keep Finding New Clients: This is the final tip and probably the most important one. As long as we are in the sales industry, looking for clients on a daily basis should be in our DNA. Without clients, there would be no sales. You get the idea. Even though we have plenty of clients to work with, for the time being, we will never know when it will dry up one day. Just keep digging and work on the listing.
That’s it, guys. The above are some of the things I’ve been thru and still working on. There will be more but essentially, I think if we can get these up and running, we will be clear what we are supposed to do every day and how to grow our real estate business. Do let me know if you have other tips for new negotiators. Cheers!