What are the most effective strategies for succeeding in your first year in real estate?

Real estate rookies, aim too high? It's a common trap: setting sky-high goals as a new real estate agent, only to fall short. Yet, it's not about aiming lower, but smarter. Success stems from setting realistic, attainable benchmarks that reflect your market and abilities. Define income expectations Conduct thorough market research Assess personal strengths Utilize available resources Establish monthly milestones Forge your path to real estate victory with tailor-made targets. Are you ready to measure up?

I'm of the firm belief that building a strong network is crucial for success in the real estate industry. It's not just about the quantity of contacts but also the quality of relationships you establish. Leveraging your past and current clients can be powerful as satisfied clients often become valuable advocates, bringing in referrals and testimonials. While family and friends can serve as an initial support system, colleagues and mentors can provide valuable guidance and insights. Also, attending local events, engaging in community initiatives, and establishing yourself as a trustworthy and knowledgeable resource is important as being visible in your community can contribute significantly to your credibility and attract potential clients.

Study your industry. Stay silent for a year. Know your subject. When ready to speak, speak last. Be a person of your own conviction.

Networking in real estate is obsolete, right? Not at all. Despite the digital age revolutionizing interactions, the human element remains crucial in real estate. Many overlook the power of a solid personal network, believing online platforms suffice. Yet, they're missing a key ingredient. Genuine relationships foster trust and loyalty, qualities that technology alone can't replicate. It's about connecting on a human level. Offer real value Cultivate lasting trust Communicate consistently Solicit honest referrals Seek genuine testimonials Elevate your real estate game—invest in people.

Your #1 goal as newer agent is to find a broker who will actually train you on how to "do" real estate. It's a mistake to assume that your pre-licensing courses have prepared you to adequately serve and protect your clients. In most states, it takes longer to become a hair stylist than a real estate agent! The vast majority of "training" after you are licensed is on how to get clients. There is very little training on how to better serve and protect our clients by improving our technical skills. Make sure you spend time mastering these subjects: Contracts, financing, appraisal, disclosures, property due diligence, negotiating repairs, marketing a listing, etc. Not only is this better for your clients, but you will also get more referrals.

"Real estate success isn't automatic." Many believe that a license alone opens doors in real estate, yet this overlooks the industry's dynamic nature. It's not just about selling; it's about continuous learning and adaptation. In reality, staying informed and educated is what separates the top agents from the rest. It's an ongoing process that keeps you ahead in a competitive market. Enroll in relevant courses Attend industry seminars Read latest market trends Join professional networks Seek mentorship and feedback To excel in real estate, embrace education as your foundation. Ready to invest in your growth?

A robust, yet easy to use CRM is one of the more important technology tools for an agent. Don't just use whatever your broker provides, unless you determine that it is your best option. You should be able to not only collect contact info, but then also segment your contacts for easy follow up. Buyer, seller, hot, warm, cold, sphere of influence, vendor, etc. Then be super-diligent about keeping your data up-to-date and don't let it balloon into a mess like many agents do. Don't enter someone into your system without flagging them with the appropriate tag or label, then update them as their situation changes. Also, make sure you can export all your data out of the system into a CSV file in case you change systems later.

"A good first year in real estate heralds a good second year" Hilmi I??k?ren - real estate trainer | real estate mentor | 27th years of real estate

Here's what I can say: Hustle! The one thing that can take you from point A to point B is you. You are the captain of your life. Especially if you're getting just started, put 100% effort. Ask questions as much as you need to. When you ask for a favor, make sure you offer a value in return. People are social beings, and they thrive when the people around them grow. Help people around you grow. Offer them value.

Find a mentor. First year in real estate is always the hardest. About 90% of consultants that set out fail in the first year. Don’t get me wrong, you can do real estate on your own but you will have to learn how fail a thousand and one time and learn to get up twice that number. But, when you intentionally find someone that has gone ahead of you and has found the hacks to succeeding, intentionally shadow then and make meaningful contributions to them. From there, you can inherit them as your mentor. They will save you the stress. If you had to do real estate with your peer that had zero knowledge like they, you’re likely to fail more. Compare this with having a mentor, they can guide you.