Top 5 Mistakes Rookie Real Estate Agents Make

The competition is growing steadily if you’re planning to become a real estate agent. However, the question is why are there a little number of successful Realtors? Well, there’s only so much business to go around, so there can only be so many Real Estate Agents in the world. However, the nature of the real estate business, and how everything thing therein is done differentiate it from traditional careers and makes it a tedious task for the average person to be successful in the Real Estate Business.

It is no doubt that new Real Estate Agents are full of energy ambition and a lot of great qualities – but there are some common mistakes they do make. Here are the 5 top mistakes new Real Estate Agents Make.

1. Leave money on the table

Broaden the appeal of the house to a broad range of potential buyers while at the same time targeting the home to the most likely market using lifestyle selling techniques. This means that 63 % of customers who would spend more money on a property that is truly ‘move in ready’ will buy that listing instead of the other one down the street.

2. No Business Plan or Business Strategy

Finally, when new agents receive their licenses, many put all their aim and emphasis on choosing a Real Estate Brokerage. Why? Because most new Real Estate Agents have only worked as employees, they have never been in business for themselves. They, mistakenly, believe that getting into the Real Estate business is “getting a new job.” What they’re missing is that they’re about to go into business for themselves.

3. Selecting brokerage for wrong reasons

One of the most important decisions you face as a new agent is choosing which company you will go to work for. Many new agents will only work with the big-name companies they’ve seen on billboards around town or TV commercials without talking to other brokerages. It is in your best interest to interview with at least a few different brokerages for several reasons.

4. Spend too much on marketing listings

A home that is professionally staged sells faster and for more money. These properties also make beautiful pictures that appeal to buyers browsing the internet for a home. Agents can save money by not having to pay for a second and third wave in the marketing process.

5. Not seek referrals from satisfied clients

Testimonials and referrals from clients are the strongest selling point to new contacts. Keep in touch with people who have used your services so that when they, or someone they know, want to purchase or sell the property, they think of you first.

This is probably the BIGGEST cause of new agent dropout because without a defined plan of action you will NEVER be as successful as you want to be. Now to be fair, most brokerages will offer some training that will help you layout some basic business plan. Do yourself a favor and PAY ATTENTION!

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