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Daniel Skidds, Real Estate Pro in 60081

I am a taking my state exam next week, just starting out! What advice could you share? I need to start

Asked by Daniel Skidds, 60081 Fri Nov 30, 2007

building a solid foundation so that I can grow my business. So where should I start to build my foundation for success? Thank You!

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Get active in your community if you are not already. Embrace technology. Participate in every online site you can find. Create card carrying "raving fans." Don't talke any relationship for granted. Select a broker that you are comfotbale with....one that provides training, mentoring, and the technology to help you succeed. Good luck! It's a great industry!
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Fri Nov 30, 2007
Cindi Hagley, Real Estate Pro in Pleasanton, CA
MVP'08
Contact
Read the Millionaire Real Estate Agent by Gary Keller. It has excellent advice about how to plan and build your business using information from succesful agents who have already achieved at a very high level.
1 vote Thank Flag Link Fri Nov 30, 2007
It depends on your age I think, some people have "it" early and other have it later, most get "it" when the have or are expecting kids, I think knowing your WHY is the most important. Then you can go read a book, but I prefer books on CD. I don't listen to music in my car anymore, instead I listen to Carlton Sheets on Tape! It's outdated, but the techinque is everything!
0 votes Thank Flag Link Tue Dec 11, 2007
Yes D. Skidds, the only book you really need is Millionaire Real Estate Agent. If you don`t read it once a month, you haven`t read it.

I think the best advice you can get in this market is, unless you( even if you) have 6 months living expenses saved up, get a full time job. 9 to 5 something with benefits

Sell Real estate part time . Evenings, and Weekends.

For your real estate career, Go to work for the largest brokerage you can. Your only goal is to barrow listings. Advertise those listings on Craigslist or Backpage. Sit those listings as Open house evenings and Weekends.

Start a local blog. Yes keep a data base.

You live in spring grove IL. The chance of you selling anything in Dec, Jan, Feb. very slim. Heard of the Credit issues? March April may, chance of tighter credit? You might get your first deal in June.
another July , Aug, Sept. . nothing Oct, Nov, Dec

So you have 4 deals 10K each deal total 40K. Give your broker only 25%. 30K left over for expenses.
Clothes, office carp, Phones, wireless laptop, lets be real nice and say $500. a month. OK that`s 6K

Done 24K, oops, Uncle Sam let`s only give him 15%. ( you`ve got a great CPA, who cost $400.)
Done 20K left over. divided by 12. about $1,600 per month

D. Skidds can you live on $1,600 per month?
Don`t forget, we are full service, there was no rebate, kick back, discount , or " are you going to buy us a new Refrigerator?" Hanky Panky ...Spanky.

Then remember this. January 1st 2008. 1000 new agents will begin their new real estate career.
January 1st 2011. there will only be 12 to 36 agents still in business. Tough business.

D. Skidds you may not like my answer. Others may not like my answer.

Now, I am not being a Bass hole (Ha Ha, got that one past Trulia ) however this is the reality of realty.

Good luck.
0 votes Thank Flag Link Mon Dec 3, 2007
Mr.P, Other/Just Looking in Arizona
MVP'08
You are in a lead generation business.
1 Start building your database now. Make a list of everyone you know, friends, family, old classmates, your hair stylist, church or organization members, doctors, dentists etc. You get the idea. Send them a letter letting them know you are in the business and would like their business. Don't be afraid to ask for their business every time you talk to them.

2 Get a business card made as soon as you know what agency you are going to be with. Pass them out to everyone you meet.

3 Get involved in the community, pass out more cards.

4. Shadow an experienced agent or get a mentor. Consider working as part of a team to get started.

5 Continue to get as much training as possible!

Good Luck
0 votes Thank Flag Link Mon Dec 3, 2007
Hi Daniel,
Much good advice listed here so far. Find a great support system, a place where you know that when you need a question answered, someone will be there for you. That might be the broker, or a mentor. There is no way to train anyone for all of the things that might happen, so much in this biz is learned as you encounter situations. You want to have a readily available, near to on-demand help center.

Don''t be afraid to let people know (buyers or sellers) that you are new. But, do let them know how strong your mentor of broker is, so the client can feel confident in the service and guidance that you will provide.

That goes for your communication w/ other agents and brokers also. It can cause a bit of extra work for another broker or agent when you are new and trying to show property, have conversations, present offers, negotiate deals, etc.

For most veterans, the most frustrating part is when someone who is new, or even relatively new, thinks they know what they are doing when they do not. I have had to interact with newbies (or even relatively new) agents and when one gets arrogant and they are new, it makes for a stressful situation.

Don't be afraid to not know everything, as it takes a long time. Even after a few years, it will amaze you how many new things you will learn, and how a new transaction can bring about a new learning curve.

Have great support and knowledge behind you. Be a sponge, and be prepared for lots of learning. It's a great biz.

Best of luck!!

Deborah
0 votes Thank Flag Link Sat Dec 1, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
Joe's 10 Rules for Success
1. Start making a list, with contact information, for everyone you know, and everyone who knows you. A good database is the backbone of the business.
2. Develop a web presence: blog, website.. and publish the URLs and your email address everywhere you can. Post to your blog; keep your website fresh and interesting.
3. Get all the training you can get. Formal training and mentoring are both good.
4. Subscribe to RSS feeds dealing with real estate and economics, national, regional, and local
5. Get more training
6. Let people who know you know you are in the business.
7. Play off of the strengths (sales history, reputation, status in the market) of the company you affiliate with, since you will be starting with no track record.
8. Develop relationships with successful REALTORS. They are the 20% who have survived in the business.
9. Follow up to number 8 - remember that 60% or so of new licensees leave the business in the first year. Stay in the survivor mode.
10. Get help when doing your first deals. Seasoned agents hate nothing more than dealing with a green agent who thinks he/she knows it all.
0 votes Thank Flag Link Sat Dec 1, 2007
Speak to agents who work with different brokerages and select the one with the most training and broker support. Don't go for the 100% or 80% commission split right out of school. You need to learn HOW to market and sell before you know can actually sell.
0 votes Thank Flag Link Sat Dec 1, 2007
Thank you for all of your advice!! I heard that I can obtain a free copy of Keller's book, should I seek a KW agent? I am planning on providing a network of services to buyers and sellers interwoven with my real estate. I already own and operate a small landscape business and would like to incorporate my other skills in the trades and then contracting the work to reliable crews. I believe that we must be flexible and willing to make adjustments to our services to fit the needs of our customers. What are your thoughts on my business plan of networking services to provide customers more opportunities?
0 votes Thank Flag Link Sat Dec 1, 2007
Get in the habit of stopping when you see a huge construction trash container, getting out of your car, going to the door and asking "who's in charge here". Then start pitching your listing presentation.

The only way it gets any easier is if you see a huge sign in a yard that says "realtors, please call me to set up listing appointment". It really is that easy getting to find who wants to sell, most people refuse to stop the car....

Otherwise find a team quickly
0 votes Thank Flag Link Fri Nov 30, 2007
Affiliate with a broker that has a good training and/or mentoring program. Call everyone you know to let them know your are in the business. Send out letters or announcments to that fact. Real Estate is a referral business. Attend a Brian Buffini seminar. He will give you some great tips on how to go about it.
Good Luck!
Web Reference: http://www.northropteam.com
0 votes Thank Flag Link Fri Nov 30, 2007
Good minds think alike George!
0 votes Thank Flag Link Fri Nov 30, 2007
Start with a great company that provides in depth training for new agents. Have you already chosen a company?

You need to shadow the top producers in the office and learn how their time is managed and how they lead generate. How do they spend their day?

Your office should assign you a mentor that can help you through your first few contracts etc.

You will want to preview homes that are on the market so that you can learn your market and the difference in values.

Purchase the book "Millionaire Agent" by Gary Keller. This is a great book and a best seller. It gives you a great business model for a strong foundation. The "Power of Focus" is also great. "E-Myth" is also great.

Lead generate everyday!
0 votes Thank Flag Link Fri Nov 30, 2007
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