kylebeatty10, Both Buyer and Seller in Ocala, FL

Breaking the young real estate agent barrier?

Asked by kylebeatty10, Ocala, FL Thu Aug 7, 2014

I was just wondering if some agent's who got their license at a young age would be willing to share what they did to stay relevant in the industry?... I'm 18, and I will be taking my real estate exam shortly but I was just wondering what I could do to break through that barrier of being so young? What do you recommend? Although I don't think nor do I act 18, It's still gonna be a major bump in my real estate career...

Thank you,
Kyle Beatty

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Answers

4
Run a little experiment. Imagine that Terra, the god of real estate, came to you one day and told you that you had to pick two or three cities in which you would do business. Whichever cities you selected would be your turf and you would DOMINATE those areas taking more listings than anymore else. You would also be shackled with a curse that you would never be able to close a transaction either representing a buyer or a seller OUTSIDE of the cities you decided to choose.

If I were you, I'd go with an area that have nice homes owned by nice people which are in a good price range. I would be willing to MOVE to get to those prime areas. But the choices is yours.

Now that you have those cities in mind, go into your MLS and run a search for all sold homes in those two cities for the last year. Find out what the count is. I'm guessing that there should be at least 1400 and probably double that. You really only have to close 50 transaction sides out of 1400 sales (which is really 2800 transaction sides) to make a GOOD living. That's really only 1.8% of the market. Keep that in mind.

Now realize that out of those 1,400 people who sold last year and the 1,400 who are going to sell in the next 12 months...a TON of them (most in fact) really are not hard-core people who are dragging 3 agents through to do presentations then selecting the "best" one for the job. MOST are really just picking someone they know/like/trust. At least 40% of these transactions will go to friends/family members that are agents. That's how the game works. That leaves at LEAST 840 sales (1680 trans. sides) for you to pick up.

Find the sellers and then follow up until they're ready to sell. I mean, I've VOTED for politicians just because they showed up at my front door and nobody else did. Seriously. Follow up 5 or 10 times and the point will be made that you're a hard worker. Why NOT go with you?

Finally, after EVERY transaction, write a testimonial for your clients. Put yourself in their shoes and try to write it as if they were writing it. Focus in on the things that they focused on while you were working together. Put their names on it. Ask them to review it once the closing docs are done. Ask them if they felt it "was a good representation of their feelings about working with you" and when they say yes hand them a BLUE felt-tip FLAIR pen and ask them to sign it. Scan it in so you can reproduce it in color forever and ever. After 12 sales you'll have 12 of these things. Nobody else gives these out to prospects. You'll INSTANTLY stand out from the crowd.
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1 vote Thank Flag Link Fri Aug 8, 2014
Thank you for that! My favorite answer so far! I really like the testimonial idea also! Creative ideas like this are going to attract a lot of clientele for me.
Flag Fri Aug 8, 2014
#1. Develop your AUTHORITY! Know your numbers. Know your market.
You will have the time to do this, IF you don't get trapped wasting your time warming a stool in a conference room.

#2. Know the profile of YOUR BUSINESS. Without this guide you will be chasing vapors where ever they appear. This is seriously important and relates to #1.

#3. Know who you are. Failure to explore this means you will be considered a FISH.
Albert is credited with say something similar to: "If spend your life trying to teach a fish to climb a tree you will, you will spend your life believing the fish is stupid." If you don't know who you are, you are going to be a fish. 90% of fish will not see their 2nd year anniversary.

You CAN allow your perception of an age barrier (there are so many fake barriers many rely upon to excuse their limitations) to limit you or you can own your situation and never let it trouble your sleep.

If you know your stuff, (#1) and you know your preferred business (#2) and how to conduct your business (#3) you will find home buyers and seller will be attracted to the vision and clarity your project. What the world needs is more of the GENUINE YOU (#2) not more facades created by marketers , known as the real estate professional swimming in a sea of smiling faces.

#4. Understand the currency in which you trade is SOLUTIONS! What is the REAL problem you are solving for home buyers and sellers? Don't trust anyone to give you this answer. Do your own research! Start with the easy one.
Why do transactions fail?
Where is the insecurity of the seller?
Where is the insecurity of the buyer?
What do they THINK is THE problem? (Hint: it's not buying/selling home)

By investing in yourself, by defining your business, knowing who you are, and being in command of the data, you prepare the roadway over which your business will find you. Don't litter this highway with false obstacles such as being too young.........UNLESS you are already looking for an escape hatch and a predetermined reason for your failure. You should NEVER think of this again.
1 vote Thank Flag Link Thu Aug 7, 2014
You have amazing advice that even helps someone like me, a 'seasoned" agent.
Flag Thu Aug 7, 2014
Annette, you've always taken time to answer my questions and I appreciate all your honesty. I certainly take in everything you say and I try to apply it to what i'm doing. I would love to possibly email you and see what further knowledge you'd be willing to share? Either way I certainly have have a lot of research to do! Thank you for everything!
Flag Thu Aug 7, 2014
I started out when I was pretty young, too. Both Annette and Dan have shared great advice. Just believe in yourself (cliche, I know). Know your stuff and be confident about it. You have 100% more experience than the person who doesn't know anything about real estate, regardless of how old you are. If you're unsure about yourself, your potential clients will definitely be unsure about you too.
0 votes Thank Flag Link Fri Aug 8, 2014
Thank you! Question, looking back on when you started till now, what would you do differently? (If anything).
Flag Fri Aug 8, 2014
Kyle,
First, tell the truth about your age and experience. You can use it to your advantage with the right set of clients. If you pretend to be older or more experienced than you are, you'll be exposed as not being trustworthy. Above all, clients want someone they can count on to level with them.
When you don't know something, don't fake it, get the answer. What you lack in knowledge and experience you need to make up with old fashioned hard work and enthusiasm. Don't be afraid to knock on doors, sit open houses, work long hours and pay your dues. There are no "get rich quick and easy" formulas and when someone tells you they have it, grab your wallet and be skeptical.
Consider joining a team where you can learn from an experienced mentor who's busy in your area. Depending on the arrangement this can be both lucrative and educational for you at this phase of your career.
One last suggestion. When you get that first commission check, set some aside for Taxes and future expenses. Don't be fooled into thinking your suddenly rich and blow it all. It could be a while between checks and Uncle Sam must be paid.
0 votes Thank Flag Link Thu Aug 7, 2014
Thank you for the response! I'll certainly put it into play!
Flag Thu Aug 7, 2014
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