5 Mistakes New Real Estate Agents Should Avoid
One of the worst aspects of making a mistake is that you virtually never realise it until it’s too late. Unfortunately, real estate agents are ardent optimists and they appear to make more marketing mistakes than typical business owners. We’re quite sure you can think of an agent who makes a series of bad marketing decisions and then worries where all the prospects went.
Even with advanced technological tools like real estate virtual tours at their disposal, excited and eager real estate agents who are new to the business don’t realise that the things they do or don’t do may affect their performance. New real estate agents have a lot of positive attributes, such as enthusiasm and desire, but they also make a number of frequent blunders.
So, if you’re about to start or have started a new career in real estate, take a look at a list of mistakes you may want to avoid.
- Not Selecting a Good Agency to Work For
Unfortunately, in their haste to launch their careers, many new agents do not necessarily choose the ideal real estate business to work for. Although you are eager to begin earning commissions, it is critical that you select a broker who will not only provide you with great online real estate tools and marketing resources but also the support and training you will require to become an effective real estate agent and reach your full earning potential.
- Not Saying ‘No’
Saying “yes” to everyone is a weight too great to bear. You must have the ability to say “no” to pricey listings that will waste your time and resources. You must say “no” to the pushy customer, who you know will be a problem, right away. When pressed to decrease your commission, you must learn to say “no” on a frequent basis. Establishing a business that you love will require you to be able to boldly say “no.”
- Failing to Network
“It’s not what you know, it’s who you know.” We’ve all heard this and this certainly rings true in the real estate sector. In real estate, relationships are crucial, therefore you can’t afford risks and avoid networking. People want to be able to trust the person handling their most valuable asset, so they’re more inclined to seek counsel from someone they know. Referrals are an important aspect of the game and a key source of revenue.
- Not Knowing the Market
Understanding the market in which you live and work is essential in real estate. A skilled real estate agent should be able to provide information on market conditions, residential property trends, and the local community with ease. If you’re purchasing a home, you’ll rely on your real estate agent to provide information on the demographics of the area’s residents and workers, as well as community activities and clubs, nearby schools, hospitals, and shops.
- Not Taking Advantage of Video
Video is slowly but steadily taking over social media, from Facebook to Instagram to YouTube. You’ll receive more views, engagement, and even greater open and click-through rates in your emails if you include video. So, what do you have to lose? In 2021, smart agents will make a significant push into video. The rest of the group will be left behind. There isn’t a better way to put it. While you’re certainly not planning on hosting your own reality show, the video may help you advertise your business in a variety of ways. You may make short films to explain the home buying process to first-time buyers, hold virtual site visits, walk-throughs of hot properties, give closing advice, answer frequent inquiries, and so on.