Embarking on a new journey as a real estate agent can be fun and thrilling. However, it can also be challenging.
The first steps in your career can be overwhelming, and you may feel lost and uncertain. You may find yourself not exactly knowing what to do or where to begin.
We’ve got you covered.
In this article, we’re going to give you some of the best new real estate agent advice for 2023. This can help you get on your feet and be on your way to success.
So shall we?
The 7 Best New Real Estate Agent Advice
The 7 best advice for any new real estate agent is:
- Create a business plan
- Work on your sphere of influence (SOI)
- Invest in your brand
- Focus on digital marketing
- Network, network, network
- Commit to hustling
- Find a mentor
Let’s look at each one in detail.
1. Create a business plan
The best way to get started as a real estate agent is by creating a business plan.
A good business plan outlines and defines your goals and sets out ways on how to meet them. It will also help you track your progress.
At the end of your first year, you can revisit your plan and see what goals you achieved. It will give you insights as to what may have worked or failed. It can help show you what steps to take next, ultimately contributing to your career growth.
Note: make sure your goals are realistic. You will only get discouraged if you set the bar too high.
2. Work on your sphere of influence (SOI)
The sphere of influence (SOI) business model is a networking strategy that focuses on generating leads from the people you’re closest with, such as family, friends, neighbors, associates, etc…
Remember, these are the people who already know and trust you and are highly likely to become your first clients.
Establish a database for your SOI, add them to your contacts list, and keep in touch.
Let them know about your new career in real estate, connect with them on social media, and take advantage of holiday parties and social gatherings.
The bigger your sphere of influence, the higher your chances are for generating leads.
3. Invest in your brand
Business is no longer just about selling. It’s about developing a brand and standing out from the rest of the competition.
Below are some of the best ways to build a brand:
Develop a professional image
Your appearance and the way you communicate with clients can impact your career as a real estate agent. If you want to be a successful professional, you might as well look the part. It will help you earn clients’ trust and confidence.
You may consider hiring a professional photographer for your profile headshot as well as for your listings.
Create a website or social media page (or both)
According to Statistica.com, around 97% of people use the Internet to search for homes. Having an online presence is indeed a necessity in the real estate industry. Not only does a website or a social media page expand your reach, but it also makes it easier for you to do certain aspects of your business.
Facebook Ads, for instance, is a powerful tool that you can leverage to promote brand awareness and generate qualified leads. It allows you to explore both inbound and outbound marketing, lets you engage with existing and potential clients, and close deals – all within one platform.
4. Focus on digital marketing
There is not a single most effective way to generate leads and increase revenues. You will need to use both traditional and contemporary methods.
However, with the pandemic limiting movement and requiring people to stay in their homes, many real estate agents have turned to digital marketing tactics to ensure a steady source of prospects.
Outbound marketing is a strategy wherein you reach out to the widest possible audience to promote your services. Examples include commercials, cold emails, direct advertising, and interest-based social media ads.
Inbound marketing works the other way around. You let your client find you by providing useful, high-quality content instead of directly selling.
Unlike outbound marketing, inbound marketing has highly targeted audiences and is more likely to generate qualified leads.
5. Network, network, network
The real estate industry revolves around relationships. Without networks and connections, you cannot generate leads, and without leads, you cannot make profits.
Be active on social media, engage with your audience, and reach out to people. Get involved in the community. Build partnerships.
Connecting with other professionals in your network can help you generate leads. Form partnerships with other people who serve your potential clients, such as dentists, lawyers, or even businesses such as moving companies.
Also, maintain good relationships with your past and present clients as they can provide you with referrals and a steady stream of prospects.
6. Commit to hustling
A career in real estate is purely commission-based. No work means no pay. Sometimes, you may even work long hours and still close no deals, plus you have to adapt to the changing market conditions.
This only means that you need to work harder.
You need to remind yourself that being a real estate agent requires hard work, time, patience, and commitment. You will need to hustle and be persistent.
Also, keep learning. Stay on top of market trends and industry developments. Set yourself apart from your competition.
7. Find a mentor
Having a mentor also helps a great deal in making sure you are on the right track. Having someone who can offer guidance and give you advice as well as provide you with a fresh perspective can contribute to your success.
Your mentor will be the partner with whom you can truly connect and be comfortable.
Note: of course, this isn’t necessary. But if you need the extra boost, then a mentor is a good idea. They aren’t cheap, though.
Starting a new career as a real estate agent can be just as exciting as it is stressful.
The pieces of advice that we’ve listed above can help guide you through what is perhaps the most challenging part of your job.
However, the best new real estate agent advice we can give you is to stay motivated.
When you keep reminding yourself of what it is that you want to achieve, you remain hungry for yourself. You get the drive to do the best you can to be successful in your career.