Agent2Agent in 10603>Question Details

Nadezda, Other/Just Looking in 10603

What is your advice to a new real estate agent with no experience?

Asked by Nadezda, 10603 Sun Sep 11, 2011

I'm getting my licence soon (NY state), very excited but a little bit worried. Thanks.

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18
Join a company that offers alot of internal training, google real estate in your local area and network with some of the agents , join a real estate networking site. check out http://www.activerain.com it a great networking site for agents from all over the country and it filled with lots of marketing and industry tutorials. Wishing you best of luck.
1 vote Thank Flag Link Sun Nov 6, 2011
To succeed in anything it is hard work. Do your homework, get into a good training program and get a good mentor.
1 vote Thank Flag Link Tue Nov 1, 2011
Hi, No need to worry! Here are few things you should keep in mind... part time efforts yield part time results, find a broker that offers consitsant training and shadow an experienced agent for a month or so, attend home inspections, appraisels and anything else you can to learn about the process. Sit in on an agents listing appt and buyer consultation. The only way to get the proper experience is to actually experience these things. Develop an online presence and promote the heck out of it without being obnoxious, add profile addressess to your email signature. Network with other agents and become a respected source of information and quality service in your area. I'll leave you with that for now :o).

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
1 vote Thank Flag Link Mon Sep 12, 2011
Anyone brave enough to tackle the real estate market as a new agent these days probably has enough moxy to succeed. It is not for the faint of heart or those who are impatient. Did I mention that you have to have money? Yes. It will take a couple of years to establish yourself and feel secure that you can make a living at this business. You need to have a nest egg to tide you over until you begin seeing closings and checks coming your way. Many who obtain their realtors' licenses are out of the business within a year.
0 votes Thank Flag Link Sun Nov 6, 2011
Definitely need to interview many potential brokers and see where you will feel comfortable, whether they have a mentor program and new agent support and programs. You will be self-employed soon, and need to start thinking of yourself that way! Get prepared and make sure you have the tools of the trade ready. The main issue for me was having answers for those tough questions when you are doing a presentation for a new listing, like "how long have you been in the business?" I overcame that scary moment by having some answers ready, such as, "just getting started and have a lot of prior experience in sales." Doing open houses to find buyers is probably the best way to get started. Try to do open houses for your mentor or connect with several agents in your future office that you would like to learn more about how they do business! You can do it! Everyone has there own niche! Best, Terry Bell, Realtor, Santa Rosa, CA
0 votes Thank Flag Link Sun Nov 6, 2011
I've been in the business just over 3 years and learned the hard way that the best thing to do from the start is to invest in an outstanding website with a website domain that will result in instant traffic from google searches. Yes, do get your name domain but also look at the way people search and try to get a domain name that is a commonly used search term. In my case it was GreenValleyAZRealEstate.com Find someone in the your area that you respect and see if they would be willing to take you under their wing...it is a great way to build a strong business.

Best Of Luck To YOU!
0 votes Thank Flag Link Sun Nov 6, 2011
Hi, there is so much to type so I'm going to try to sum it up in a nutshell. You will need to have an agency in place so that your license can be hung. Choose an agency that offers training and strong support. I always recommending shadowing a seasoned agent for a while so you can actually experince the business. Go on showings, ahome inspections, appraisals, and closings. I've learned a ton just by sitting at a closing and listening.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
0 votes Thank Flag Link Thu Nov 3, 2011
Yes, it's one thing to study for and pass a state real estate exam and then to actually go out and sell yourself and sell real estate. I suggest you join with a firm that gives you training because that training will give you the confidence that you, in turn, will exhude to potential buyers and sellers. If they have a mentor or a shadow program then you should also take advantage of that for your first few transactions.

We've all been virgins.
0 votes Thank Flag Link Mon Sep 12, 2011
I suggest you interview with Keller Williams. You will have the opportunity for training from the time you walk in the door, especially new agents. And, there will be agents who will be your mentors. Keller Williams has profit sharing. And, you will be encouraged to develop your own brand & business model.
0 votes Thank Flag Link Mon Sep 12, 2011
You should meet with several different types of agencies. small, medium, large, independant and franchised. Look to see what they have to offer, do they have any fees or costs, do they offer training, what are their commission splits and such. Each as pros and cons. A large office may offer more training but teh competituiion may be much greater with so many agents. A small agency will offer less formal training and more real world training listing and selling homes and working with customers. So see what your goals are and match up with where you will be happy, good luck
Web Reference: http://wwwScottSellsNH.com
0 votes Thank Flag Link Mon Sep 12, 2011
Never let them see you sweat.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Mon Sep 12, 2011
Lots of great advise being offered and will prove very important to your future.
The good news is you are not encumbered with bad habits. Nor do you have legacy systems to work within like so many seasoned agents. Also, being newly minted, you are not afflicted with the IDWDT Syndrome.

You provided no details regarding your economic status, so let me assume you are marginally broke. What to do? Working in your favor is you are unhindered with "I Don't Wanna Do That" syndrome and will pursue whatever opportunity that presents itself. This gives you a gigantic advantage.

Key to your success if identifying the broker who can provide you 'real' training to get you to where the rubber meets the road. not sitting in classes but where the people looking for homes and those needing to sell can be found. (Identify if mentoring programs are alive and well) Do not let slick presentations and illusions of profit distort reality. Have each broker with whom you meet share the real statistics regarding agent production in their office. Have them provide this information for the industry report. Here in Tampa it is call then Kenst Report.
You need to know:
#1 Number of agents in office
#2 Total transactions completed in office
#3 Calculate average transactions per agent
#4 Calculate average annual compensation per agent
#5. If a team dominated office, determine if team production is additive or leveraged.

Good training will be reflected in exceptional results. Choose wisely. your future depends on it.
Need more info? Drop me a note.

This is an exciting time to be in real estate. You, should you choose to proceed, will be apart of America's most vital workforce, creating, providing and implementing the solutions that will lead this country out of this financial mess.
0 votes Thank Flag Link Mon Sep 12, 2011
Hi Nadeza,

Since you are in an area that I work in, I strongly suggest you consider interviewing with Weichert, Realtors. Known in the industry for their training and mentor program, you will never be left to sink or swim.

Best,

Sally Griffiths, GRI
0 votes Thank Flag Link Mon Sep 12, 2011
Hi: Real estate sales is very tricky & there is a lot of competition. And your competition has a lot more experience than you. There are no "c rumbs" for you to gather that others have left behind. You need a good strategy & you have to hustle to get the business. And you don't get paid without a success. I'm Michael Levy, Principal Broker of Grand Lux Realty. We're looking for more agents & offer a 70% commission split with no fees. We have unique strategies & I can help train you so that you can make some money in this business. Especially if you treat it like a full time job. You can see more information on our website: http://www.GrandLuxRealty.com. Or please call me at 914-273-9688 for more information. Our office is in Armonk in central Westchester County & we work throughout the lower Hudson Valley in NYS. Also, if you know anybody else who might be interested in working at GLR, I'll pay you up to $1,000 per licensee that you can send our way.
0 votes Thank Flag Link Mon Sep 12, 2011
To expand on what John is say I would look at real estate like a career rather than a job. In a career there is a period of seasoning, and it only after 3-5 years would one expect to make really great monies. John is totally right that you should not leave your current job to pursue real estate unless you have monies saved. I would lean more towards 12-18 months. The 95%-5% rule is what used to be the 80%-20% rule in real estate. 5% of the brokers will do 95% of all the business. Did you know that the average Realtor will sell ZERO homes in 2011? Best
0 votes Thank Flag Link Mon Sep 12, 2011
Talk with your mentor before you leave your current job and create a financial forecast. You may want to have 6 to 12 months of living and business expenses in the bank, possibly more. Real estate is not a job, it's a business. Most businesses fail within the first 2 years because of inadequate funding. This applies to real estate agents, too.
0 votes Thank Flag Link Mon Sep 12, 2011
Hi. Don't be worried. It is a great career! You may be getting started off in a tough market, but when you make it through and the market is better, you will be a great agent! I agree with Dan's Tabit response 100%. I would add to it by suggesting you find a real estate company that has an exemplary training program. Training is the key. If you don't know your paper work and the sales process, you will be left behind. I've seen too many "capable" people quit the business because they didn't take their training seriously. Furthermore, once you are done training, find more classes or seminars, because you can always learn something from a class or from someone that will make you a better agent!.

So, don't let the local companies interview you. YOU interview them to see what they have to offer you!

Best of luck ,
0 votes Thank Flag Link Mon Sep 12, 2011
Nadezda,
New career, new city, tough combination. Real Estate is a relationship business. Find an office with an agent who will take you under their wings or join a team where you can gain experience and see some success.
Become part of the community, join clubs and organizations that you have interest in and get to know lots of people. Join networking groups where other professionals can refer business to you and you to them.
Develop a 5 year plan and stick to it. The first year will be the toughest, but if you can survive 2 years you have a good chance of being successful. Best of luck.
0 votes Thank Flag Link Sun Sep 11, 2011
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