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Dirk Zeller
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Published:
April 3, 2017

Success as a Real Estate Agent For Dummies

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Overview

Straight-talking advice for new and veteran agents navigating today's real estate market

Success as a Real Estate Agent For Dummies helps you create leads, close deals and everything in between. This updated edition covers changes to interest rates, inventory, and the impact of recent class action lawsuits on agent compensations. With tried-and-true tactics and fresh ideas from one of North America's top agents, this book contains all you need to know about the real estate business. Inside, you'll find tips and tricks on selecting a company that works best for you and your goals, marketing yourself and your listings with influence, and communicating effectively with clients. The actionable content in this Dummies guide is your ticket to thriving in a wide market.

  • Gain insider advice on how to flourish as an agent in all real estate markets
  • Understand how real estate is changing, and what those changes mean for you
  • Find, secure, and sell more properties with optimized listings and outreach
  • Get fresh ideas for improving your results in residential and commercial sales

For new licensed real estate agents, those switching careers into real estate agenting, or seasoned agents looking to refine their prospecting and selling skills, this book is a valuable source of information and techniques.

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About The Author

Dirk Zeller is the President of Real Estate Champions (REC), where he coaches agents and managers to improve their performance. Through REC, he has also developed an international network of professional real estate coaching offices. Dirk runs a weekly newsletter, Coaches Corner, which has more than 215,000 subscribers.

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success as a real estate agent for dummies

CHEAT SHEET

The real estate business is a dynamic market. And to be a successful real estate agent, it helps to have a few key skills at the ready. Being prepared to use your time wisely, creating an online presence, converting online lookers into clients, and prospecting for business are important tools that every successful agent should possess.
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The concept of real estate teams has been around for more than 30 years. Teams have become more common and influential in the real estate industry in the last five years with the expansion of lead-generation systems and strategies inside brokerages themselves. There are key reasons why: Increased skill improvement As a newer agent, if you join an existing team you will gain more experience in real estate sales more quickly.
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To be a successful real estate agent, you need to be focused, determined, and organized. You also need a few items to keep you on the path to success. Keep the following things in your agent arsenal and you'll be well on your way to achieving your goals. Good contact management system As a salesperson, you have to be able to keep in touch with prospects and clients easily and effectively.
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Safety has always been an issue for real estate salespeople. Meeting people at homes as standard practice of service has made agents easy targets for a criminal element. It has been a back burner issue that got put on the front burner due to the death of a few agents who were targeted in the last few years. Developing a system and strategy for your personal protection is a necessary part of being a successful agent.
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Representing sellers and taking real estate listings is the best way to leverage your business and create future business. A listing creates more leads and opportunities for any agent. Although an agent's marketing ability and online presence can somewhat make up for a lack of listing inventory, the bottom line is that listings are always king!
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As a real estate agent, one of the best ways to start generating referrals is to construct a referral database composed of all the people who are likely to help you by referring your services.Most referrals come from family members, friends, current clients, past clients, people you've met through networking situations, and people you know through social or business dealings.
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When real estate prospects are looking to buy or sell, their first stop is often the web. Your domain name is the key that drives traffic to your site. If you don't already have a domain name, follow these steps to get one — or several — as quickly as possible: The first domain name you need to register is your own name, as in www.
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Mortgage originators and loan officers lead the list of strategic partners who can help you get real estate deals done. These people play an essential role in securing your clients' loans. They can help you expand your business through several avenues: They can help you serve lower-credit clients. Mortgage originators who are skilled and have a broad line of loan products are open to loan requests from a broadly diverse economic segment, which increases your pool of prospects.
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A service encounter happens any time a consumer interacts with a servicing organization. Every website hit or incoming ad or sign call is a service encounter. When a prospect talks to you, your staff, your company receptionist, your closing coordinator, or your broker, owner, lender, escrow or title attorney, or anyone on your service team, that person is having a service encounter.
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As a new real estate agent, the first, second, and third place to invest your marketing dollars is online. The two main issues you face with the Internet are quality and quantity. You want to drive visitors to your site so you can increase the odds of generating leads from it.You also want to increase the quality of the prospects so you can separate the really good buyers and sellers from all the rest.
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Prospecting for real estate buyers requires positive expectations. It requires a positive-results mindset, in part to overcome the influences of all the other agents who don't prospect, don't value prospecting, and stand by to negatively influence your vision and expectation of success.Merriam-Webster defines prospecting as "seeking a potential customer; seeking with a vision of success.
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The length of time you spend on the phone prospecting indicates a few key things about you and your business. Your ability to be on the phone 60, 70, or even 90 minutes at one time leads to discipline, focus, and sales. If you can work with high intensity, making one call after the next, and get into a flow and rhythm, you are showing the skill of a quality salesperson.
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Help sellers achieve the lightest, brightest, and largest interior possible by taking the following advice to heart. To help sellers prepare their home interiors for showing, have them take two initial steps: Get them to rent a drop box or dumpster and throw away or donate anything they haven't used in a while.
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The success of a listing presentation is determined by what you do before you even walk through the door. Most real estate agents enter the meeting flying blind, ill prepared and oblivious to the needs, wants, desires, and expectations of the prospect. Make this pledge to yourself right now: Before you enter another listing presentation, ask your prospects quality questions in advance.
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Media reports advise consumers that seller/agent commission fees are negotiable. Likewise, buyer/agent commission fees are negotiable, as well. You're the one who determines your fees. Some agents charge higher fees because they're worth more. They can sell to the consumer a higher level of value, so they can increase their fees.
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Real estate offices have evolved from the sprawling buildings where every agent had his own workstation, cubical, or private office. Although some offices are still arranged this way, the vast majority of real estate offices are morphing into a more stop-and-go model.Agents on the go share spaces, tools and resources.
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The real estate business is a dynamic market. And to be a successful real estate agent, it helps to have a few key skills at the ready. Being prepared to use your time wisely, creating an online presence, converting online lookers into clients, and prospecting for business are important tools that every successful agent should possess.
Read More
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Some real estate sales approaches involve a shorter contact-to-contract cycle than others, therefore delivering a greater return on your time investment and a higher value for your business. In order, here are the factors that most influence the value of your prospecting approaches. Past clients:The highest-value form of prospecting is calling past clients and those in your direct sphere of influence.
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In real estate, there's a saying that "you list to last." In your early days, you're likely to build your business by working primarily with buyers. But in time, you begin to develop your own listings, and after that you begin your climb to real estate's pinnacle position, which is that of a listing agent. Typically a larger percentage of referral business will be buyer based.
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Real estate agents spend an undue amount of time on production-supporting activities, or PSAs. These activities include all the steps necessary to support such direct income-producing activities as prospecting, lead follow-up, taking listings, and making sales. You can’t avoid the administrative functions that support your sales and customer service efforts, but you can and should handle them in the absolutely fewest number of hours possible.
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A successful open house requires a well-chosen and presentable home, a well-organized host, and an impeccable follow-up plan so that no prospect gets lost in the post-event period. Use the following information to guide your planning. In addition, you may want to use the worksheet featured here to be sure that you cover all the planning bases and arrive ready to open the doors to a successful event.
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Using the web to view homes is common practice for real estate buyers. Buyers enjoy the anonymity of looking online before contacting an agent. A key for real estate agents to prospect and land new clients is to turn online lookers into solid leads and turn those leads into real clients. Converting lookers to leads Site visitors are known as eyeballs.
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Current clients are people you're actively representing, right now, in real estate transactions. Current clients are a rich pool of referral opportunity mainly because, more than any other group, they have real estate on their minds.They're in the midst of deals that they're constantly talking about with their friends, associates, family members, and neighbors.
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An agent choosing an agency isn't a whole lot different than a consumer choosing an agent. When you look at a real estate office, evaluate how they rank based on the following list of attributes: Energy and enthusiasm: It takes passion to succeed at essential real estate activities like prospecting, lead generation, and lead follow-up.
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The purpose of prospecting is to develop prospective clients for your real estate business. The prospecting method, even in today's world where people text more than answer the phone, still has merit and success attached.The figure shows a hierarchy of pyramid of sales and communication. This pyramid shows the power of persuasion is increased, as well as the impact, the higher you move on the pyramid.
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Nearly all agents are independent contractors earning no base salary and depending entirely on their own skills, actions, and activities to create income. This pay structure breeds competition within the industry and within each company. The trick is to balance that competition with cooperation. Striking this balance isn't always easy.
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