1. Create A Business Plan
Success depends on several things and creating a business plan to show you how to get to the level you want to achieve is the Number 1 most important thing you need to start with. Top-producing agents do not reach their goals without planning. Success occurs by trial and error and lots of hard work. A plan is essential to achieve the targets/goals you set for yourself.
2. Set Goals
Measuring success requires setting goals, working towards them and tracking your progress. It is a common trait among most successful real estate agents to set goals — daily, weekly, monthly, as well as annually. Setting a series of easily attainable short-term goals helps to grow your business and eventually reach long-term goals.
3. Determine Your Budget
As with any business it is critical to set a budget. Calculate your living expenses, business expenses (i.e., marketing, computer hardware/software, cell phone plan, printer/scanner, office supplies, etc.) and revise as necessary. It would be wise to have savings in the bank that would cover at least six months of your budget before you start selling real estate full time.
4. Set Realistic Expectations
Unlike a conventional/corporate job where a person receives a wage or salary week in and week out, being a real estate agent does take time and hard work to pay off. You are only paid on a commission basis for the sales that actually close. Depending on your market area, you could expect to make your first sale (first closing) within 90-180 days from the day you start prospecting.
5. Prioritize Client Relationships
Building relationships and communication are both key components of making real estate a successful venture. An important aspect of your ability to attract new clients is how well you communicate with people of all ages and backgrounds. Becoming a homeowner is one of the biggest decisions most people will ever make and can cause much anxiety. It is especially important to empathize with your clients. This builds respect and trust in the relationship and it may even lead to referrals of their friends and family.
6. Work Well With Others (Play Nice In The Sandbox)
Avoid treating your colleagues as competitors. There is more than enough business to go around. It is good to be helpful to other agents. Working well with others leads to success in your business. You can achieve more and better results through mutual cooperation. It is important to be professional, fun, fair, honest and ethical in all your transactions. Communication and professionalism are indeed essential.
7. Keep A Positive Mindset
The first step towards success is rather believing that a person can reach one set of target goals. Top-producing real estate agents do not waste their time worrying about failure. Every agent faces setbacks at one time or another and does not allow them to affect his or her performance. It is important to learn from your mistakes and do your best to move forward.
In conclusion, building a successful real estate career requires the drive to persist, learn from others and the ability to execute. Real estate requires a lot of patience, especially for a new agent. So go out there and give it your all and I’ll see you at the TOP!