Becoming a real estate agent is exciting, but it is important to understand how to avoid the common mistakes most new agents make. This will help you to navigate the terrains of your new real estate career and quickly realize your full potential.
Here are the top three missteps to avoid.
When you become a real estate agent, you are starting your own business. This means you must have clearly defined goals and timelines for achieving them.
Having a successful business starts from drawing a business plan. This will allow you to create, identify, and focus on both short and long-term goals. Without a business plan, you will easily make the mistake of spending too much time, money, and effort where it doesn’t need to be spent.
Becoming a real estate agent also costs money, which means that financial planning is crucial to the success of your business.
Where do you intend to source funds to build your business? Do you plan to take out a loan, ask family for help, or work a part-time job? Venturing into real estate without concrete financial planning is sure to result in huge setbacks.
Underestimating the Workload
Most newbie real estate agents expect immediate success, forgetting that any new business venture takes time and effort.
While being a successful real estate agent can be fun, it also takes work, commitment, and patience.
It involves combining tons of paperwork with getting leads, communicating with potential clients, tracking timelines and deadlines, as well as showing multiple clients dozens of properties that they may not buy or rent until several months down the road.
One of the ways to ease the workload is getting a transaction contractor to help you handle the nitty-gritty details while you focus on getting leads. You can partner with a member of the Close Concierge team to help you in this regard.
It is easy to spend time being busy without being productive, especially with a real estate agent career where no boss is looking over your shoulder and telling you what to do and when to do it.
Being able to set your own schedule is great, but it can also be your greatest undoing if you are not maximizing your time with productive and revenue-generating activities.
Going to seminars or taking courses are important but they may not serve you well if you don’t know how to properly schedule these activities to make them more effective for you.
Schedule your peak hours to meet with clients and call leads or potential clients. Leave other seemingly important but non-revenue generating activities for off-peak periods. By time blocking your activities, you will make the most of this precious commodity called time.
Avoid Costly Mistakes with Help from Close Concierge
You can avoid these and many more common mistakes, even if you are completely new to the real estate business. Close Concierge can guide you to sidestep these pitfalls. Don’t hesitate to contact us today if you need help.