As with any career, there are certain hurdles to cross. You are making a significant investment in time and money to become an agent. You may even be taking a big risk by quitting your job and trying to switch careers. To improve your chances you should understand the hurdles and how to navigate your way through them.
- Real estate brokerages trying to sell you on their concept. When I meeting a prospective agent that has already interviewed with another broker I always ask, “Did you feel that the recruiter was trying to sell you on their brokerage or trying to see if you were an appropriate match for them”. The answer most always will be on selling their brokerage. Here are the signs to look out for:
- The recruiter goes on and on about why their company is great and why you should be working for them.
- They keep talking about their brokerage and their success, but don’t spend much, if any time, asking about you. Consequently the focus is on them and not you.
- They aren’t trying to see if you are a good match for their company. Not every brokerage is right for every agent.
- You only hear good things. No brokerage is perfect and all have failure. Are they telling you the good and the bad?
- Real estate success isn’t about the real estate. It’s about getting clients. In the book, The Millionaire Real Estate agent by Gary Keller, opens with a short story about a conversation he has with a very successful agent.
Gary Keller: Do you go on buying appointments?
Agent: No, I have buyer specialists that do that for me.
Gary Keller: Me too. Do you go on listing appointments?
Agent: No, I have listing specialists that handle all the listings for my team.
Gary Keller: How about that. I have listings specialist too.The Millionaire Agent book is all about being successful and from the first pages you can see that the successful agents aren’t doing all the real estate. What are they doing?
- Building a sales organization that can sustain high volumes of real estate closings.
- Managing that organization
- Marketing themselves and getting more clients.
You can be the most competent agent in your market but if you don’t have any clients it won’t really matter. There are ways to blend getting clients with being great at real estate. But the biggest hurdle you will face is getting clients, not the real estate transaction itself.
- Real estate is highly competitive and you need to be prepared to compete. Being competitive doesn’t mean you have to be nasty but your chances will improve if you understand that you must compete and how best to do so. You should understand the competitive advantages and weaknesses of your major competitors . Then you should pursue a path that they aren’t taking. You actually need to be something different. After all, why would someone hire you if they can select someone with experience, market share, and name recognition positioning them in the market place?
- Real estate is mostly a communication business. Notice a pattern? This is your second big hurdle to a career in real estate that isn’t about real estate. Real estate is truly a people business and not a bricks and mortar business. If bricks and mortar is your strength then maybe you should be in construction, home building, inspecting, appraising, decorating, etc. But to be successful in real estate you need to understand communication.
- You will get prospects due to your ability to communicate what you do and why people should hire you.
- Once you have prospects your ability to communicate will convert them to active clients.
- Making sure your clients understand the issues, listen to your advice, make informed decisions, have proper expectations and avoid problems is all predicated on your communication skills. When helping my agents with their problem transactions it’s almost always a communication issue that caused the problem, not a real estate mistake.
- Getting repeat and referral business is dependent on the service you provide and that perspective is molded on your ability to effectively communicate with them. If you gain a position of trust and create the proper expectations their view of you and your abilities will get you future business. Do you know how to effectively ask for business and how to train your clients to be a source for you? ) It’s all about communication.