e{"id":63617,"date":"2023-01-16T00:01:33","date_gmt":"2023-01-16T00:01:33","guid":{"rendered":"https:\/\/www.burstforum.com\/?p=63617"},"modified":"2023-12-30T12:35:17","modified_gmt":"2023-12-30T12:35:17","slug":"top-7-mistakes-rookie-realtors-make","status":"publish","type":"post","link":"https:\/\/www.burstforum.com\/top-7-mistakes-rookie-realtors-make\/","title":{"rendered":"Top 7 Mistakes Rookie REALTORS Make"},"content":{"rendered":"

1) No Business Plan or Business Strategy<\/p>\n

So many new agents put almost all their emphasis on which Real Estate Brokerage they’ll join when their shiny new license will come in the mail. Why? Because most new Real Estate Agents have never experienced business for themselves – they’ve only worked as employees. They, mistakenly, think that getting into the true Estate business is “obtaining a new job.” What they’re missing is that they’re about to go into business for themselves. If you have ever opened the doors to ANY business, you understand that among the key ingredients can be your business plan. Your organization plan helps you define where you’re going, how you are getting there, and what it’s going to take for you to make your real estate business a success. Here are the essentials of worthwhile business plan:<\/p>\n

A) Goals – What do you want? Make sure they are clear, concise, measurable, and achievable.<\/p>\n

B) Services You Provide – you don’t desire to be the “jack of all trades & master of none” – choose residential or commercial, buyers\/sellers\/renters, and what area(s) you intend to specialize in. New residential real estate agents tend to have the most success with buyers\/renters and move on to listing homes after they’ve completed several transactions.<\/p>\n

C) Market – that are you marketing yourself to?<\/p>\n

D) Budget – consider yourself “new real estate agent, inc.” and write down EVERY expense that you have – gas, groceries, cell phone, etc… Then write down the new expenses you’re taking on – board dues, increased gas, increased cell usage, marketing (essential), etc…<\/p>\n

E) Funding – how are you going to pay for your allowance w\/ no income for the initial (at least) 60 days? With the goals you’ve set for yourself, when will you break even?<\/p>\n

F) Marketing Plan – how will you obtain the word out about your services? The MOST effective way to market yourself is to your personal sphere of influence (people you know). Make sure you achieve this effectively and systematically.<\/p>\n

2) Not Using the GREATEST Closing Team<\/p>\n

They say the best businesspeople surround themselves with people that are smarter than themselves. It takes a fairly big team to close a transaction – Buyer’s Agent, Listing Agent, Lender, Insurance Agent, Title Officer, Inspector, Appraiser, and sometimes more! As a Real Estate Agent, you are in the position to refer your client to whoever you select, and you should ensure that anyone you refer in will be an asset to the transaction, not a person who will bring you more headache. And \u4e0d\u52d5\u7523 \u7df4\u99ac\u533a<\/a> closing team you refer in, or “put your name to,” is there to make you shine! When they perform well, you can take part of the credit because you referred them in to the transaction.<\/p>\n

The deadliest duo on the market is the New AGENT & New LARGE FINANCIAL COMPANY. They get together and decide that, through their combined marketing efforts, they are able to take over the world! They’re both focusing on the proper section of their business – marketing – but they’re doing one another no favors by choosing to give each other business. In the event that you refer in a bad insurance agent, it might result in a minor hiccup in the transaction – you make a simple phone call and a new agent can bind the property in less than an hour. However, because it normally takes at least two weeks to close a loan, if you use an inexperienced lender, the effect can be disastrous! You might find yourself ready of “begging for a contract extension,” or worse, being denied a contract extension.<\/p>\n

A good closing team will typically know more than their role in the transaction. Due to this, you can turn in their mind with questions, and they’ll step in (quietly) when they see a potential mistake – since they want to help you, and in exchange receive more of your business. Using good, experienced players for the closing team will assist you to infinitely in conducting business worthy of MORE business…and on top of that, it’s free!<\/p>\n

3) Not Arming Themselves with the Necessary Tools<\/p>\n

Getting started as a Real Estate Agent is expensive. In Texas, the license alone is an investment that may cost between $700 and $900 (not taking into account the amount of time you’ll invest.) However, you’ll come across even more expenses when you attend arm yourself with the necessary tools of the trade. And do not fool yourself – they’re necessary – because your competitors are using every tool to help THEM.<\/p>\n

A) MLS Access is just about the most expensive necessity you’re going to run into. Joining your local (and state & national, by default) Board of Realtors will help you to pay for MLS access, and in Austin, Texas, will run around $1000. However, don’t skimp in this area. Getting MLS access is among the most important actions you can take. It’s what differentiates us from your average salesman – we don’t sell homes, we present any of the homes that we supply. With MLS Access, you will have 99% of the virginia homes in your area open to present to your clients.<\/p>\n

B) Mobile Phone w\/ a Beefy Plan – Nowadays, everyone has a cellular phone. But not everyone has a plan that will facilitate the amount of use that REALTORS need. Plan on getting at least 2000 minutes per month. You need, and need, to be accessible to your clients 24\/7 – not just nights and weekends.<\/p>\n","protected":false},"excerpt":{"rendered":"