5 Common Mistakes New Real Estate Agents Make

Driven and determined with your newly minted real estate license in hand, you’re finally ready to set the world on fire. Before you strike the match, however, make sure you have a firm grip on the reality of your new role as a business owner rather than an employee. Yes, your job now is to sell real estate, but first you must master your ability to sell yourself as the ideal partner to prospective clients.

Here are common missteps new agents make and ways to prevent them — tips that can also help experienced agents recalibrate priorities.

1. Poor lead management

To get clients you need leads, which, if nurtured, can turn into relationships. How you manage those leads is critical to building a base of clients who refer others and help you grow your business over the long term. Make it a priority to set aside time to organize and track your leads. Consider creating a daily list that includes these to-do’s, among others:

• Recategorize leads who have moved further down funnel or are in their new homes.
• Identify content you can share with leads based on how you categorize them.
• Add notes about your leads based on interactions you’ve had with them.
• Set reminders on when to publish social media posts and do text or phone follow-ups.
• Write thank-you notes to people who send you referrals.

A CRM, or customer relationship management system, can automate many of these tasks. The Zillow Premier Agent CRM gives you seamless access between laptop and mobile devices so you can do this work anywhere, anytime. With Zillow advertising, you also get feedback on your service, which are insights you can add to your CRM. You can also filter leads by status to help prioritize follow-up.  

Even with a CRM you’ll need to set aside time to spend on lead management. With Zillow Premier Agent, everyday housekeeping becomes easier. That’s because we’ve moved beyond traditional lead generation to connect active home shoppers with trusted agents, live by phone, when it’s convenient for you — and them. This not only saves you from chasing down leads, it also builds initial trust between buyer and agent, creating a lasting and fruitful relationship.

2. Ignoring your brand

While it’s important to build your contacts, resources and business overall, you also need to learn to sell yourself as a real estate expert. This means defining your personal brand. What makes you different than the competition?

Most doctors and lawyers don’t generalize, and neither should beginner real estate agents. You know what aspect of real estate intrigues you most, so focus on that niche. Once you choose your specialty (first-time home buyers, investment property clients, empty nesters, among others), figure out how to become an expert in it.

Your expertise should show up in listing presentations in the form of local market statistics and analyses, your professional history and credentials, and your marketing strategy for success. A client’s trust in you is bolstered by the confidence you radiate when you clearly know your stuff.

Be able to describe your personal brand in one sentence. Incorporate that sentence into all forms of your marketing: your website, social media ads, listings, open house flyers and more. And be selective where you hang your shingle — again, focus on your niche. Nothing packs more bang for the buck than intelligent and compelling targeted marketing.

Want more tips and strategies on building a personal brand? We’ve collected some here:

• How to Create a Business Plan
• How to Build Your Personal Brand on Social Media

3. Losing touch with clients

As your business starts to take off, it’s easy to lose touch with some of your first clients. But remember, you were part of their lives at pivotal moments, like buying a first house or selling a beloved family home. You know intimate details of their financial and family situations. Staying in touch creates a golden opportunity to make a significant, lasting connection that will pay off over the years.

Email and personal notes are the quickest and easiest way to stay in touch and, oftentimes, the most impactful if you make them specific and spark mutual memories. Remain active on your clients’ social media posts (with permission, of course).

These home connections will keep you top of mind when clients start to plan their next move.

4. Lack of marketing budget

You should anticipate no income for the first 60 to 90 days, so a three-month reserve — for both personal and professional expenses — is ideal. But once you get going, you need to set up a marketing budget and stick to it. This means tracking all expenses. Accounting for every dollar will highlight how well (or poorly) you are running your business and the baseline you need to make it on your own.

5. No continuing education

Just when you think the coursework and exams are behind you, continuing education crops up as necessary to stay relevant and, in many states, mandatory to maintain your license. Maximize your time and minimize cost through webinars, podcasts and other online resources to maintain your skills and keep up with the industry. Zillow gives agents access to in-depth training on our products, plus topics like how to build your personal brand and converting online leads. Consider creating a free agent profile with us to start building your brand online with largest real estate network on the web, with the most unique visitors in the U.S.*

As exhilarating as it is to take the first step in your career path, there are some best practices that beginner real estate agents should always follow to stay grounded and focused. Don’t think for a moment that your competition — newcomers and veterans alike — isn’t working on these fronts to their best advantage.

Organize your time to avoid rookie mistakes. Like any good habit, it may take a while to get in the groove, but prioritizing lead management, personal branding, client relations and budgeting can put you in charge of your career and your future.

*Source: Comscore Media Metrix® Multi-Platform, Real Estate, Total Audience, January 2019, U.S.