7 Mistakes Rookie Real Estate Care
So many new agents that their emphasis on Real Estate Brokerage they will join when their shiny new license comes in the mail. Why? Since most new Real Estate Agents have never been in business for themselves – they have only worked as employees. They, mistakenly, believe that getting into the property is “a new job.” What they miss is that they have you go into business for themselves. If you ever opened the doors for any business, you know that one of the key ingredients is your business plan. Your business plan helps you determine where you’re going, how you get there, and what it will take you to your real estate business a success. Here are the essence of a good business plan:
A) Goals – What do you want? Make them clear, concise, measurable and achievable.
B) services you offer – You don’t want to”no-trades & master of”- choose residential or commercial, buyers / sellers / renters, and which zone (s) you want in. New residential real estate agents specialize the general most success with buyers / tenants and then to listing homes after they’ve completed a few transactions.
C) Market – Who are you marketing yourself?
D) Budget – Yourself”new agency, inc.”And you write ALL costs – gas, groceries, cell phone, etc. .. Note the new costs that you’re taking on – bord de mer, more gas, increased cell usage, marketing (very important), etc. ..
E) Funding – How will you pay for your budget w / no income for the first (at least) 60 days? The goals you’ve set for yourself, when will you break even?
F) Marketing Plan – How do you handle the word out about your services? The most effective way to market yourself to your own sphere of influence (people you know). Make sure that you so effectively and systematically.
2) Do not use the best possible Closing Team
They say that most entrepreneurs surround themselves with people smarter than themselves. It takes a fairly large team to close a transaction – Buyer Agent, Listing Agent, Lender, insurance, Title Officer, Inspector, Appraiser, and sometimes more! As a broker, you are in a position to refer your client to whom you choose, and you should ensure that anyone you refer will be an asset to the transaction, not someone who brings you more headaches. And the closing team you refer to, or “Put your name,” there to make you shine! If they perform well, you get a share of the credit, seeing them listed in the transaction.