Foreclosure in Loudonville>Question Details

Dustin Besse…,  in New York, NY

Starting out in the Real Estate Business

Asked by Dustin Bessette, New York, NY Wed Feb 17, 2010

Whom would beginng agents contact to in order for them to start building their business? Who would they contact in order for them to work with investors?

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Tom and Joanne Team’s answer
Dustin:

I have a great blog entitled "Jump Starting your Real Estate Career in 90 Days" and it is here on Trulia. I have also have written one on "Getting Referrals from People that Know, Like, and Trust You". These would really help you a lot. Best
1 vote Thank Flag Link Thu Feb 18, 2010
Investors? Don't waste your time. They have to look at huge amount of houses and half the time they try to go around you. Real simple: contact everyone you know, tell them you're in real estate and ask for referrals; talk to for sale by owners and expireds. That's it. Nothing fancy about this business - work and get paid. Good luck! Don't get discouraged. Keep talking to people.
1 vote Thank Flag Link Thu Feb 18, 2010
Talk to everyone, just don't be pushy. Hand out cards. Ask friends and family for referrals.

Hold open houses for fellow agents.

Don't worry about the investors. At some point they will find you if you are successful.
1 vote Thank Flag Link Wed Feb 17, 2010
Dustin: Wear your name badge everywhere you go and dress professionally every where you go also. This will strike conversation and people will ask you about your business. Everyone is interested about Real Estate now.

Great Luck To You!

*****
Web Reference: http://www.soreal.biz
1 vote Thank Flag Link Wed Feb 17, 2010
You call everybody you know and tell them that you've just joined Real Estate Company as a Sales Associate, and ask them if they can think of anybody who is talking about buying or selling real estate.

You send announcements to everybody that you know plus everybody for whom you have a business card.

You hold open houses.

You go out and meet FSBOs.

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Investors? Not so much. People who already invest in real estate know a thousand agents, and the chances that you'll come up with a great deal before they do is incredibly slim. Which doesn't mean that you can't go to investment club meetings.

Caveat. A lot of people go to investment club meetings without having any money to actually invest. These people do not usually make good real estate clients!
1 vote Thank Flag Link Wed Feb 17, 2010
I suggest making sure you're with a company that is providing on-going, extensive training in lead generation and the other business aspects of running a real estate business. If you aren't then you'll want to get that training and/or coaching elsewhere.

I joke with my agents that they aren't "secret agents". Get out into the world and let people know you sell real estate. That doesn't mean shove it down their throats but it does mean talk about it. Get involved in your community both online and offline and genuinely get involved. People want to do business with people they know, like and trust. So get out there and meet people. Let them know what you do and how you do it. Ask for their business and for referrals. Then deliver on what you promise. And be certain to reciprocate with referrals to those that refer you.

And as a new agent do as many open houses as you can find. It's not sexy, but it works! A close friend of mine made Rookie of the Year in her office when she started in the business and she did it all from contacts made at Open Houses. Again she was out there meeting people.

As for investors, many people call themselves investors and are really tire kickers. The real investors will expect a lot of street smarts from you and you'll have to earn their business by proving yourself before they'll give it to you. As a new agent I suggest focusing on get some closings under your belt before pursuing investors. You'll have more knowledge and you'll have some cash in the bank.
0 votes Thank Flag Link Tue Feb 23, 2010
Dustin
Good luck with your future career as a real estate agent. Where ever you go and what ever you do always be marketing yourself. Family, friends and all of their families and friends of friends tell everyone and keep networking. Smile and have full confidence at all times. All the best to you!
Web Reference: http://www.maryjodaly.com
0 votes Thank Flag Link Tue Feb 23, 2010
Hi Dustin-
There are many things a newer agent can be doing to get business going. 1st, i agree with the last answer that working on a team with a good reputation, as it can afford you mentoring time and quality training as well as leads. On our team, we have a solid 1 year traineeship designed to teach you all aspects of the business, as well as get you going and learn more, with guidance than most large companies can teach you, including my own large company.

As for working with investors, i would not put lots of money/time into that route in albany area, unless you have a lot of experience in investment properties/systems,etc to bring to the table - you can definately get yourself immersed in that aspect, but with lack of good financing options for the typical investors (100 and 106% financing) it has lsowed down the investment arena here , except in the under 60k range, with the cash buyers.

Working with technology, blogging, marketing and advertising, online advertising, geing "out on the street" daily letting people you meet know you can assist them, and again, working with people who will invest time in you are key components. We work in the same area, my team covers 12 counties and is pretty succesful, i would be happy to speak with you further about any or all of this. I am always looking to connect with fellow agents. I can be reached directly by e mail at Brian@TheCapitalTeam.com, check out our site at http://www.TheCapitalTeam.com or call me on my cell (518) 669-2633......
0 votes Thank Flag Link Tue Feb 23, 2010
dude - in my experience, working with "investors" from the start - is very difficult.

you need to build a base of inventory and work hard to build an "in" with the right people - especially at banks. being totally new to the biz, unless you know people and have MONEY to really amp up your marketing, i would suggest starting out with a good associate broker - get on a team with a good reputation.

drive neighborhoods - see who's got the signage. interview THEM.

what is your experience in real estate?
Web Reference: http://www.readysetreo.com
0 votes Thank Flag Link Thu Feb 18, 2010
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