So, you’re interested in a real estate career. You may have just started doing your research, or you may have already gotten your license but are struggling to lay the foundation of your business. No matter the situation, it is important to note that real estate brings limitless opportunity. But, it is up to you to create that opportunity. At the end of the day, in real estate, you get what you put in, so the earlier you take time to discover the resources that will help lay the foundation for your business, the quicker you will be on your way to making it unshakable.
Here, six top players in the real estate industry share the actions that have been complete game changers as they were growing their own businesses. For even more information on how you can jump-start your career and the opportunities within real estate, click below.
- 1 Six Career Tips for Real Estate Newbies
- 2 What do you wish you had known?
Six Career Tips for Real Estate Newbies
Prior planning prevents poor performance.
When he began his real estate career, KW MAPS Coach Dennis Russell took nine months to close his first transaction. He attributes that time frame to having a scattered business, without a plan or formula. But, he shares, once he started focusing on the important things, his business started thriving – landing him in the top five agents in his office within a one-year timeframe. To achieve similar results, ask yourself: How much money would you like to earn? Who could you help? How far could your business go? Then, follow these three steps:
*Assess where things are right now, and where you would like them to be.
*Commit, first to getting your real estate license, then to following models and systems that have a proven success record.
*Repeat the process over and over again until it becomes second nature.
Your income will never exceed your personal development.
When she entered the industry, luxury Realtor Kashmir Parker ran full speed ahead, without taking the time necessary to solidify her foundation. Parker’s business grew rapidly, but, she shares, without the necessary infrastructure to sustain it, she was ending up turning business away. Looking back, she advises investing into your personal development and building out a strong business foundation from day zero. “Your personal development will be critical to the development of your career,” she says. “You cannot reap and sow in the same season.” Give yourself time to put systems in place first, and avoid losing momentum and hurting your reputation down the road.
Know your ‘why.’
Ibarra Realty Group’s Junior Ibarra remembers the exact moment that changed the trajectory of his life: when a teacher told him, “You’re going to be another one of those that’s not going to go on to university.” This comment propelled Ibarra, a first-generation child of immigrants, to focus his energy on school, landing a full-ride scholarship to college and earning an engineering degree. Once he began feeling like a number on his engineering journey, Ibarra switched to real estate. Throughout his career, Ibarra shares, his story and his wife and three children have kept him motivated.
Protect your time.
Team leader and Linnenkugel Real Estate Group founder Jordan Eicher Linnenkugel finds the beauty in failing forward. “We miss out on a lot of great ships if we’re waiting for the perfect one to dock,” she says. In order to succeed, she emphasizes the importance of throwing away the idea of perfection and becoming masters of implementation. What does that look like? It all comes down to building a fortress around your schedule. As you launch your business, be intentional in telling people what your protective time looks like, and use that time to focus specifically on generating and creating new business. To spring into action:
*Decide on your daily objective, and
*Find the necessary time in your daily schedule when you will be uninterrupted, and make no exception on how that time is utilized.
From there on, it’s all a matter of being gritty and honoring that time.
Relationships are where the wealth is.
Imagine you are going on a movie date. The movie itself is not the date. The date is the conversation around the movie, and the moments that surround the viewing of the film. Do they pick you up? Are you holding hands? The conversation is the true relationship being formed in that scenario. Real estate is a people business, and, similar to the date scenario, your conversations with your prospective clients are the relationship. According to kwx Head of Industry Jason Abrams, relationships are built on trust. And, in order to succeed in the real estate industry, that is a skill you will have to master. Once you understand what trust entails, you will be able to build it with your sphere of influence. So, what is it? Abrams says there are three layers to consider:
*Logic: The person you are speaking to understands the plan and logic that you are laying out.
*Empathy: The person you are speaking to believes you care about them.
*Authenticity: The person you are speaking to believes they are getting the real you.
Sharpen your communication skills.
KW agent and KW MAPS performance coach Kara Moll swears by the following formula in order to build trust and make people feel heard and understood: acknowledgment + validation. To express acknowledgment, phrases such as “What I’m hearing you say is …” and “In other words, what you’re telling me is …” allow you to show your understanding of what was being stated. Once you establish acknowledgment, validate your prospective clients. The goal is not to agree or judge, but assure them that what they are feeling is OK and that you understand their perspective. Phrases such as “It’s understandable that …”, “It’s perfectly normal that …”, “No wonder you feel …”, and “You have every right to think …” tell the listener that you heard and understand them, helping them move to a neutral place within their mind. Once you have acknowledged and validated, ask a powerful question. This question should be open-ended, thought-provoking, clarity-seeking, and solution-oriented. To do this, stay away from questions that start with ‘why’ and focus on the ‘who, what, when, where, and how.’
What do you wish you had known?
Industry veterans, what are your tips for new agents that are trying to make it in real estate and grow their business? Let us know in the comments section below.