An agent’s first year in real estate can seem like a trial by fire. While the licensing exams provide practical industry knowledge, they don’t fully prepare agents for the experience of being new to the industry. Fortunately, there is wisdom to be shared from seasoned agents who have been through it already. We recently asked registrants of a 30 Minutes to Greatness Agent training webinar to tell us their number one tip for new agents starting in the business. Here are some of their top recommendations:
Learn how to effectively network
Real estate is a people business that thrives on social capital. Being able to create meaningful relationships with others is a highly sought-after skill that can be very rewarding to your business. For example, maintaining a strong relationship with clients during and especially after the transaction can lead to repeat or referral business. Likewise, regularly engaging within your community can demonstrate communality and credibility for your personal brand. For those who are new to the industry, be sure to utilize social media to make it known amongst your network that you are in real estate. Make a habit of interacting with prospects, past clients, community members, peers, and industry professionals. Try to engage regularly with those within your network so that you remain top of mind, while simultaneously branching out and expanding your circle of contacts.
Adopt a growth mindset
A growth mindset – the term coined by Dr. Carol Dweck that one’s abilities are not fixed but can be developed with time and effort – can be a powerful indicator for future success. It all comes down to being coachable. A coachable agent is receptive to input from others and has an affinity for learning. New agents should seek out as many training sessions as possible from the wide catalogue that EXIT Realty offers its Associates. In addition, your peers can be an invaluable learning resource. Ask a more experienced agent in your office if he or she would be interested in mentoring you, or whether you could shadow them during an open house to gain practical, real-world experience.
Develop resilience and grit
There’s no getting around it – rejection is part of the job. Success in real estate (and in life) comes from one’s ability to persevere in the face of adversity, which is why these two traits are essential to agents who are new to the industry. Resilience is your capacity to remain optimistic during setbacks, while grit is your ability to sustain drive towards long-term goals. While these traits tend to develop with time and experience, new agents can accelerate their progress by embracing failure as a learning opportunity. Reflect on why the rejection happened, what you feel you did right, and how you might improve for next time. How you frame these interactions can critically influence the effect they have on your mood. By realizing that failure is necessary to become an expert in your field, you may discover it has less of an emotional impact than it once did.
Establish productive habits
Agents are the summation of their habits, good or bad. New agents have the advantage of a clean slate for establishing positive, productive habits. Become regimented with how you organize and grow your business. New agents should put together a contact database from the beginning and continually keep it up-to-date. At the beginning of every week or month, set out clearly defined goals that you would like to accomplish. Develop a daily routine for prospecting, whether that’s through working your contact database, door knocking, handing out business cards, engaging on social media, or however you choose to market yourself. By establishing these habits early in your career, you’re helping create a foundation of structure and focus in your business.
While most of the learning comes from one’s experience on the job, these tips can help a new agent avoid some of the common pitfalls and set them on a path to success. The sky’s the limit when an agent has the proper skills, training, habits, and psychology for real estate.
