Getting Started in Real Estate: Tips for Success

You have your license and joined a Brokerage. Now the fun, I mean hard work, begins. Most of us are 1099 independent contractors with no salary or benefits and lots of expenses and bills. Welcome to the club. Let’s take a look at some of what you can do to jump start your career and improve your chances of making it.

Tell Everyone You Know that You Are an Agent

This is the easiest and most important action new agents should do and most don’t. Why? They are waiting until they get more experience, don’t want to appear too “sales-y” to their friends, they haven’t quit their day job yet, and a host of other reasons.

So, let me repeat it again: let everyone, and I mean everyone, you know, know that you are now an agent. Even if you are doing it part time.

Chances are that your first sale, and it most likely will be a Buyer deal, will come from someone in your “sphere of influence” or someone they know.

Everyone has their own way of doing this.

For me, back in the day, my approach was to just work it into a conversation. Something like, “hey I finally got my real estate license”. That’s it. Based on the response you get, you continue the conversation or don’t. Some people may ask how why you made the career change and others might change the topic. What you don’t want to do is give them your card and say “call me for all your real estate needs”.

One thing that worked well for me, if the other person was interested in continuing the conversation, was to ask them what experiences they had, positive or negative, with an agent when they bought or sold. If your friends are younger, maybe they haven’t been in the market yet, so if appropriate, ask them what would they be looking for in an agent. Or if they go to any real estate websites or watch HGTV or any shows like that.

Just remember, no one likes a know it all new agent. So be in the seeking information mode of asking questions. Asking questions is actually a good habit to develop as you will find out later.

And be prepared to discuss the market in general and the area you are most likely to be working in. One of the most common questions you will hear is “how’s the market?”.

When I started out, we didn’t have social media. But today we do and one of the best ways to get the word out about your new career is LinkedIn, Facebook, Instagram, Twitter or whatever else you do. Now for some of these, you may want to have a different business profile and identity. I’ll be writing more about that separately. But you have the option of both engaging people on the phone, in person, and on line. Just don’t overdo it and use all the modalities. If someone “likes” your career change , call them a few days later to thank them and then see where the discussion goes. Be authentic and ask their input (i.e. an positive or negative experiences they had with agents).

Preview Property

You have to know the inventory and previewing property is something you will be doing throughout your career. It is the only way to know the inventory, what sells and doesn’t sell, and at what price.

In the Los Angeles area, we have Broker’s Open Houses during the week where agents can go and see new listings. Some offices put together a “caravan” where agents go with each other which is kind of fun. I’m a loner so I do it myself but I always do it.

There’s another benefit to doing Broker’s Open. The other agents, and primarily listing agents, will start to know you. The reason that is important is because when you submit an offer for a buyer client, if they can put a name to a face it helps. It sets you apart from other new agents. And truthfully, when I am doing a Broker’s Open at one of my listings, I like it when agents show up.

If your area does not have Broker’s Opens, go to weekend open houses. The objective is the same: preview property and know the inventory.

Learn the Tools

Where I work in CA, the two primary tools agents use are the MLS to look up properties and the C.A.R. transaction forms in Zipforms. Both of these are in the cloud so you need a reliable desktop or laptop computer and good (embarrassing to say this in 2019) internet connectivity.

While you can access a lot of this material on tablets and phones, you really need a full browser experience for full functionality.

In addition, I also use DocuSign for electronic signing and Skyslope for transaction management. Your brokerage may use different tools, there are a number of other options. Find out what they use and learn how to use the software before you get involved in your first transaction, Like way before.

I’m not going to discuss other tools like a CRM or IDX website here because we are addressing getting started. But I will discuss those elsewhere on this site and in my videos.

Identify Your Resources

In the Los Angeles area and most likely where you are working, you will need to have relationships with a number of affiliates such as Title Reps, Escrow Officers, Lenders, Home Inspectors, Termite Companies. and others. You will also need to know handymen, painters, contractors, roofers and others who can help your client maintain and improve their property. In some markets, you need real estate attorneys for the transaction.

And, to protect yourself you should recommend at least two and even better three choices to your clients.

Ask around, find out who others in your office are working with, meet people, look on Yelp and Angie’s list etc.

You will make a great impression if you have these resources ready when your clients ask. And they will ask.

Keep Learning

Learn everything you can about everything real estate related that you can. This means going to your office meetings and taking advantage of any free trainings at your board. There’s also a lot of YouTube videos from all the trainers and coaches that you can watch for free.

You’ll keep learning throughout your career so best to make it a habit.

Google Yourself

The first thing everyone you meet professionally is going to do is to Google you. You might as well and see what they come up with. If it is pictures of you in college partying on Spring Break, chances are they may not hire you to list their $5M luxury mansion.

Your online reputation is everything and I am going to cover this in more detail in separately. The sooner you can update your social media and create an online identity as a Real Estate agent, the more successful you may become.

Become a Consumer

I’m not recommending that you buy a house or sell yours, just that you make believe you want to buy a house or sell one and start looking online.

List Your Steps to Success

When you start, your first goal is to obviously get a sale. But let’s get more granular. What price range? What kind of property? Buyer deal or Listing? How about “double popping” a listing (if it is legal where you work).

Get A Broker’s License

Chances are you obtained what in CA we call a salesperson’s license meaning that you have to work for a Broker. Now even if you get a Broker’s license that doesn’t mean you have to start your own Brokerage or go out on your own. You can be an associate Broker at your Brokerage. In other posts I’ll go into this in greater detail but for now, just put it on your list.