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Tracy Hoyt, Real Estate Pro in Valrico, FL

What would you tell a first year Realtor, that you were never told? What would have made a difference for you?

Asked by Tracy Hoyt, Valrico, FL Sat Mar 16, 2013

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20
There's only you!
There is no them.
There is no out there.
We all work with the same time, the outcome is completely what you make it.
Total accountability is the revelation that unlocks the store house of the kingdom.
Total accountability means choosing to no longer tolerate ....
the incompletes in our life.

Don't stand waist deep in sh......ould...and DO.
There's only you!


OH, and then there's that part about the transparency of a broker, as long as you pay the fee, "You're OK with me!"
There's only you.
3 votes Thank Flag Link Sat Mar 16, 2013
Take every single bit of YOUR emotion out of it. Stay neutral for your clients. Always pre-screen both buyers and sellers. Do not take abuse from clients or their parents. Not every other Realtor in town is your enemy, you need them to sell your listings. Don't ever burn bridges. Over priced listings are a waste of everybody's time. Don't take anything personal, it's a tough business.
2 votes Thank Flag Link Sun Mar 17, 2013
Another tip is to be yourself. Find a niche that suits your personality and work it. You will know if it is the right niche for you because you will find enjoyment in your work. If you find you are hating everything you do, than you need to change what you are doing. It may take a while to find out what truly works for you.

Fred Strickroot
HomeNet
Lic. Florida Real Estate Brokerage
(Contact Through Trulia Profile)
1 vote Thank Flag Link Tue Mar 19, 2013
Also depending on the type of market, you need to look after your buyer's or seller's best interests and adjust for a Seller's market or a Buyer's market.

I come from the Stockbrokerage industry (series 7, 24, 27, 4 licenses) and we were drilled into the requirement that we had a fiduciary duty to our clients. In my past 12 years as a Realtor I've seen absurd activities by Realtors that work for their own best interests and not their client's. I've also seen many amazingly dedicated and ethical Realtors. There is very little oversight in the Real Estate industry and the barriers to entry are very low.
1 vote Thank Flag Link Tue Mar 19, 2013
When the listing agent is uncooperative, move on. When the Client gets upset and does not want you representing them anymore, move on. When things just don't come out the way they should simply move on, better things will come your way.
1 vote Thank Flag Link Mon Mar 18, 2013
In regard to the last 3 postings; it does not cost anything to be nice & professional to everyone you meet! But this game is about MONEY and the other side wants to take it to you & your client! There are many Realtors® out there who truly want to see a good deal for all parties but there are just as many out there who take it to heart that they have to do their very best in representing their client. This means they take NO prisoners, and they salivate at the opportunity for the inspection & re-negotiation! I agree do not burn bridges, but this game is not for the faint of heart and the previous “advice” may be some of the most naïve BS I have ever heard!!! You have an obligation to your client to do your best with all the skill and negotiation tactics you can muster and being “fair” is not always part of the game. Trust me when you are a Rookie & get schooled you will understand just how bad you & your client were taken advantage of.
1 vote Thank Flag Link Sun Mar 17, 2013
I agree with Pacita, the book "21 Things I Wish My Broker Told Me" is an excellent to the point book. In addition, let me add three books written by Jennifer Allan-Hagedorn and they are: Sell With Soul, Prospect With Soul and If You're Not Having Fun Selling Real Estate, You're Not Doing It Right. All great books, fun to read and full of invaluable information especially for a newbie.

Don't try to reinvent the wheel. Watch those that are successful top producers and see what they do, BUT.........be careful. You need to find your own niche. Take it all in and then apply it to yourself to make a good fit.

Systems are something I use now and wish I would have done a long time ago. Doesn't have to be fancy or expensive. Make up a sheet to follow for each type of transaction (both selling and buying) and keep checklists and USE THEM.

And as others have said before me, think about what you love to do and do it, whether it is quilting, baseball, riding horses, reading books...........whatever your favorite hobby is, go do it and find others that enjoy the same thing.

Just getting your face and name out there for branding purposes will help a lot. People come to know and trust you the more they see you and that is key in being successful in real estate.

And finally, don't try to be all things to all people. That will not and never does work. Be yourself and your confidence will shine through.

Wishing you great success in your new journey.
1 vote Thank Flag Link Sun Mar 17, 2013
Most people lack self-discipline, with that being said Realtors® / salespeople are some the worst. The most successful Realtors® are the ones which do “office time” and have a regular schedule 9-5 plus evenings & weekends just like a job! Brokers sell this business on the idea that you can make your own hours, to a new Realtor® this is basically a lie. So my advice for a 1st year Realtor® is keep a regular office schedule, have a plan and stay productive during this time. Example: Our office sits on major highway frontage with easy access and is always closed on Sunday because no one wants to work. If an Realtor® wanted to “claim” this day from 12-3 with a sign out front Realtor® on duty to help you NOW! I would guarantee 10 transactions per year just off this Idea. But let’s face it the part-time crowd and the want to be’s really doesn’t even belong in the discussion they drank the Kool-Aid. If YOU want to be successful YOU have to do what others don’t want to do or are unwilling to do! Ps all the other ideas below are great & if you put this kind of office time in you will be able to do all of them!
1 vote Thank Flag Link Sun Mar 17, 2013
I always tell new agents to remember that real estate isn't a job -- it is a career. That means being a professional in all things! You must have a business plan, know the inventory, network and build relationships with your peers, get to know your board (and get involved when you have a little experience,) and prospect! Always ask for business and remind people that you sell real estate. The main thing is, you don't have to reinvent the wheel -- learn from the successful agents that have gone before you while being true to yourself.
1 vote Thank Flag Link Sun Mar 17, 2013
Go to two training classes a month, if your brokerage does not offer them check the local board, if the local board does not offer them checkout Realtor.com's new Realtor University.
1 vote Thank Flag Link Sun Mar 17, 2013
This is a business, so you should write a business plan. This will teach you to get organized..

Along the way, learn as much as you can...build and nurture your base....determine what you should focus on in terms of marketing....create a budget. Don't buy all kinds of bells and whistles without knowing how you are going to use them and if they will reap the benefits you hope for.

Waiting for and buying leads don't work. You create your own leads through various activities. Find one you enjoy doing, and do it! If you don't like door-knocking, then what do you enjoy doing? Are you a good writer with good ideas? Then maybe blogging is the way to go.

There are some books that should be required reading. Start with The Millionnaire Real Estate Agent, and 21 Things I Wish My Broker Told Me.
1 vote Thank Flag Link Sun Mar 17, 2013
Paying 6% franchise fee of the top commission does not get you more or better qualified clients.

Even when told the house is on sewer, confirm with the county records that it is not on septic.

Request a utilities lien search for your buyers of foreclosures.
1 vote Thank Flag Link Sat Mar 16, 2013
I agree with the franchise comment..I won't do that again!
Flag Sat Mar 16, 2013
Financing sells homes! Get knowledgeable on mortgage financing.
1 vote Thank Flag Link Sat Mar 16, 2013
To read The Millionaire Real Estate Agent. The cover says it's not about the money...its about being the best you can be. My personal credo is ALWAYS do the right thing and the money will follow. Great book and one I highly recommend for all new agents to read.
0 votes Thank Flag Link Sun Mar 17, 2013
Amanda and Jared make a fantastic point... Buyers and Sellers will come and go but you will be working with other Realtors for years to come so it's best to stay on good terms with other Realtors. I was very fortunate in this crazy market to have a Realtor suggest to a Seller to accept my client's FHA offer over other similar offers on the table. I think if I had a bad history with her, she may have suggested another Realtor's client to get that house. We are in a "seller's" market right now so a buyer needs to chose their Realtor wisely.

I have experienced some less experienced Realtors who will try to "fight" for their client on a Short Sale but in the end on a Short Sale a seller can pretty easily kick out a buyer so Realtors can do foolish things and not realize they may be injuring their client's ability to ever get a short sale bargain.
0 votes Thank Flag Link Sun Mar 17, 2013
All good suggestions... really liked the ones that talk about providing great service. I would suggest going ABOVE and BEYOND and you will surely gain many loyal clients for years to come. Also I would put your client's interests first and even if there is a 1% commission offered or your buyer wants to see a For Sale By Owner go ahead and show it. Usually these FSBO and 1% co-broke listings are also overpriced and unkempt so the odds your client will want to make an offer are slim!

So I take it you're a new Realtor, so good luck with your career!

Also I would suggest going with Future Home Realty once you're comfortable with not being hand held and have basic technology skills. They are a great firm with 4 offices in Tampa Bay that you can access 24 hours a day and an office in Jacksonville, too. Our Brokers and Staff offer excellent service and you get paid immediately at closing so you don't risk going with a broker that may not pay you for a week or two or never! I have heard horror stories about other brokers that have absconded with the agent's money!

Take a look: http://www.joinfhr.com/

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty
813.244.9898
0 votes Thank Flag Link Sun Mar 17, 2013
Hi Tracy,

I have to agree with Annette. This job is a solo mission and rejection, even from family and friends is part of the business.
0 votes Thank Flag Link Sat Mar 16, 2013
Dear Tracy,

I would tell them to expect their career in Real Estate to be the same as it would be in any "new business". In the beginning there is so much to learn, and there will be many expenses,before you can expect to earn in Real Estate. I would prepare for this, with some money to fall back on and to cover the expense for at least the first two years.
It's also vital to connect with a Brokerage who is committed to empowering new agents through training, support and mentoring. Most new agents quit by the second year because they have not had the help they needed.
It's a great and very exciting business once you get going!
Good luck to you!
0 votes Thank Flag Link Sat Mar 16, 2013
I first went into r e in 1986. All my friends wanted to buy but they bought from someone else. Don't pay attention to the rejection. It is part of the game.

Been in it for about 30 years now and love it. It makes both the buyer and seller happy and I LIKE HAPPY
0 votes Thank Flag Link Sat Mar 16, 2013
Great question Tracy. I would tell them to focus on the quality of service to the customer first rather than quantity. Build everything on the foundation of a quality customer service approach.

It can be difficult to build a customer-centric approach on a 100% commission based pay check because the tendency is to try to be working with as many customers as possible. It took me several years of a 20+ year real estate career to come to this realization, and once I did I found that my referrals increased dramatically.

Fred Strickroot
HomeNet
Lic. Florida Real Estate Brokerage
(Contact Through Trulia Profile)
0 votes Thank Flag Link Sat Mar 16, 2013
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