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When you spend a lot of time and money studying online for your real estate exam and become an agent, you want to make as much money as possible. Being a great real estate agent takes a great deal of hard work and discipline, and you can get even better if you follow some of the tips we offer below.
Write a Business Plan
When working as a real estate agent, what you’re really doing is running a small business. And no well-run small business is complete without a comprehensive business plan. A business plan in the real estate business is a set of instructions that focuses on what works and tosses out what doesn’t.
In this business, it’s tempting to think of succeeding as an agent as transactions closed per year. Of course, that’s true to a point, but coming up with a business plan helps you figure out where the most business is coming from.
It’s essential to revise your real estate agent business plan every year because you want to spend your marketing dollars on activities that produce results.
For example, if your analysis shows that you had the most closings last year in a certain zip code with first-time homebuyers, next year’s business plan might focus more on this high-producing market.
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Work Your Network
One of the most reliable sources of leads and consistent sales are the people who know and love you. These people think highly of you in business and know what a skilled and dedicated real estate agent you are.
It’s critical to stay in touch with these people every week because they will likely refer you to contacts when they need real estate services. But you shouldn’t call everyone on this list every week or you may look desperate.
Instead, touch base with your best contacts on their birthdays or anniversaries. This is a good way to stay in touch without being annoying.
Develop Partnerships
To be a better real estate agent, remember that you can’t do everything yourself. No one can be 100% successful in any business without support.
You can get more support in the real estate business by cultivating partnerships with other business professionals. Be sure to network with others who need your support to succeed. This might include bankers, loan originators, home relocation professionals, contractors, and more.
These professionals can recommend your real estate services to their customers. If you want them to do so, make sure you prioritize sending business to them first. Also, you can work with a few of these professionals to do a joint marketing buy and advertise to them at a lower cost than if you did it alone.
Learn What Customers Really Want
It’s natural for a real estate agent to put their efforts into marketing and sales because they think that’s what the end buyer or seller wants. But did you know this isn’t entirely true?
What customers in real estate usually want more than anything else are answers and details. It’s important to become an expert in the market in which you serve. Learn as much as you can about the types of houses and home values in your market.
Know what sells and which upgrades are worthwhile. Provide as much valuable information as you can to potential buyers and sellers in the area, and they will reward you with business when the time comes.
Invest in Quality Advertising
Effective marketing is huge for being a successful real estate agent. But it doesn’t have to be as expensive as you might think!
One of the most important things to do as a new agent is to create a memorable sales slogan that people can remember.
It’s also important to establish your presence on social media, so make your Facebook, Instagram, and Twitter feeds as active as you can. And it doesn’t cost as much to do paid advertising on those platforms as you might think.
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Get Used to Nights and Weekends
Some people get into real estate because they can make their own hours. That’s true to an extent, but guess when many of your potential clients are free? Nights and weekends! So embrace it and get used to working at those times.
Don’t treat working at 9 pm or Saturday as a chore. Think of it as an opportunity, because it is! Make sure that potential clients can count on you to be available during off times. If you are available on the phone most of the day and evening, you will get more business.
Just remember these simple real estate agent tips, and you’re sure to develop more business.
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