Real Estate Business Cornerstones: What Every Agent Should Do to Get Set Up for Success

Is a Career in Real Estate Right for You?

Zillow Premier Agent

July 26, 2018

3 Minute Read

If you’re a new real estate agent — or even an experienced agent — you’re probably dreaming about a booming business and reaching for the stars.

You’re also probably panicking about all the things you need to do to succeed. Even the most motivated agent can have analysis paralysis when they have big goals and ideas, but don’t know exactly where to start.

A note to new agents in particular: Remember, nothing happens overnight. Plan for at least six months of hard work without a commission check. In my experience, it can take up to two years for an agent to really hit their stride.

Here are a few steps you should consider at the start of you real estate career, or when reevaluating your business if you're not a newbie.

Make a list

The first thing any new agent should do: Make a list of people you know. Who would you invite to a big birthday, anniversary party or holiday party?

Friends, family, neighbors, former coworkers and your local PTA members can be the foundation of your business. These are the people who know you and your work. They will become your source for referrals and business.

Ideally, you should set up a spreadsheet with their full name, email address and snail mail address. You can import this spreadsheet later to an email database for marketing and communication. Your list will grow in time.

In my experience, this is the most valuable piece of an agent’s real estate business. Treat your list like gold. Make sure you update and curate it quarterly.

Spend as much time in the office as possible

Being in the office has numerous benefits, though many are not tangible. You can learn so much just by being around agents as they chat with each other or with clients. Listen closely to their conversations and and you’ll quickly pick up on the “buzz” of the office.

You’ll hear how different agents work, see how they connect with their clients, and get different perspectives on the things they don’t cover in real estate classes.

Introduce yourself to agents, get to know them and ask questions. Top agents will notice your presence and work ethic.

Befriend a top agent

A top-producing agent is a great person to learn from. If they don’t have a big team, they may rely on other agents to assist to host their open houses. They may even pay for help with showings or paperwork. It’s an excellent opportunity to learn.

Who knows? You could also pick up some business. Sometimes top agents will share a new buyer lead if they're too busy.

I must point out — not all top agents are alike. Some work very independently, are private about their business and might be less welcoming to a newer agent. Ask your manager and other agents about the lay of the land and look for an agent to shadow.

Host open houses

Open houses are a free and easy way to meet potential clients and source business. Meeting five people at an open house is like having five job interviews or five opportunities for new business.

While we typically host open houses to reach potential buyers, I always say you never know where your next deal will come from.

Be kind and speak to everyone, including neighbors and “looky-loos”. Set time right after the open house to send follow up emails to everyone you met. If you wait until the following Monday, you’ll get lost in the barrage of their work emails.

And remember to add new contacts to your list each week.

What are some things you find helpful as a new agent? Or, what do you wish you knew when you first started out in real estate?

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