Starting out as a new real estate agent can be a daunting task. You have no prior sales to point to, and no past clients to recommend you. So you buy leads, work your sphere and gradually make connections - but it’s work. And costly.
Most agents leave the real estate business within five years. The ones who survive see their income rise, with less cold calling and more business from past clients and referrals. (Sounds good, right?)
Source: National Association of REALTORS® 2019 Member Survey
So, what’s the secret to being successful as a real estate agent?
Focus on relationships, not transactions. A fraction of your leads will turn into a transaction. Your hard work has paid off, and you’ve got a commission check coming your way. Great! But if you focus on creating a lifelong relationship, not completing a transaction, your name is more likely to come up when someone asks, “Do you know a good real estate agent?”
Work smarter, not harder. Stay in touch with your past clients so you can generate more business from repeats-and-referrals, and rely less on prospecting and leads.
Stay organized with a real estate CRM, and follow up with useful info for homeowners (and potential sellers). For example, recent home sales in their neighborhood, and other local market updates. Providing relevant, interesting updates is a great way to stay memorable, and show your local market expertise.
Real estate is not an easy career, but it can be rewarding. Keep at it!
Top Producer® Systems has been a leading real estate CRM provider since 1982. Tens of thousands of agents and brokers use Top Producer® real estate software to help them manage leads and contacts, stay organized, and follow up with home buyers, sellers and owners. Learn more at topproducer.com.