Real estate has always been known as a popular and very profitable industry, not only for the buyer but also as a profession. Of course, as with all areas of work, the inexperienced individual is likely to make some mistakes along the way. This may be embarrassing for the individual; however, it is a learning experience and without these error many top realtors would not know what is right or wrong. This article will point out some of the top mistakes all newbie real estate agent in Flatbush (and almost everywhere else) make.
1. No Business Plan
The majority of new real estate agents tend to place emphasis on the real estate agency they choose to work for and the brokerage through which they receive their license. Surely, these are important factors to consider as branding can be beneficial; however, it is also a mistake. Going into the real estate business should not be viewed as merely “getting a job” as it involves a great deal of interaction with people and marketing of properties. To ensure you are successful, or at least effective, in marketing of the properties to obtain buyers it is essential that you have a proper business plan or strategy. Many newbie’s are not aware of this and do not have a strategy when attempting to sell their first property.
2. Not Using A Closing Team
It is said that the most important people any businessman would surround himself with is people who are smarter than him. It takes a great deal of effort and skill to close a real estate transaction and to do this effectively you will need a strong closing team. A closing team includes individuals such s a buyer’s agent, a listing agent, a lender, an insurance agent, an inspector, a title officer, an appraiser, and possibly other professionals depending on the property. As the realtor it is essential that you refer the client to the correct individual when necessary and refer to these professionals when required as they can be assets to the transaction. When a closing team performs well together they will definitely make you shine as the real estate agent.
3. Not Using The Necessary Real Estate Tools
Beginning as a real estate agent, particularly as a self-employed real estate agent, can be very costly. In many states, such as Texas, the license alone can cost in excess of $100 not taking into account the time spent on obtaining this. Of course, obtaining a license should not be avoided as it can be a strong investment and in some cases mandatory in order to practice. There are additional tools required to perform effectively, such as MLS access, and these should also be considered because they will assist in giving you a competitive edge. Many newbie realtors are unaware of this fact.
See the video and learn.