Starting and maintaining a Real Estate Busines has many benefits. However, there are some mistakes you should try to avoid. Real estate is a contact sport. That means we must talk to people. Many people get into the real estate business not thinking it is their business. I see too many agents treat it as a job and not a business. I have been doing real estate for the past seven and I am still building my business. I have added many elements to it. However, it takes time and money to build a successful business. It took me about two years to start obtaining referrals. Real estate is a tough business if one is not prepared for it.
Here are the top 5 mistakes that I see Realtors make when they first get into the business:
- NOT ENOUGH MONEY-Many first time agents do not have enough start up capital to open up their real estate business. Yes, it takes money to start a business. One needs to pay for the license, cards, signs, desk fees, office supplies, and so on. That little stuff adds up very quickly. Real estate is not a part-time business in my opinion.
- EASY MENTALITY-I thought being a Realtor was an easy job when I was in corporate. Wow, I was wrong. One must work at this profession to become an expert in their field. I have become an expert realtor when it comes to real estate investments and financing. Everybody wants what I have at this time. However, they do not want to sacrifice the time nor money to get to this level. I say to them--BYE BYE.
- MOMEMTUM-I feel great when I obtain two contracts within two days. It motivates me to show more homes and close more deals. One needs to ride the wave when deals come in. However, it is hard when one is only closing one deal per month. It takes time to start a business. I would suggest that people have a daily routine in order to create the rain. Real estate is a contact sport. Make it happen!
- LOOKING AT THE MONEY ONLY-I see way too many Realtors focus on the commission only and not the client. I will be rewarded when my client is satisfied with the deal with the commission. People will know if you are only in it for the money. These type of people will not last long.
- NO MENTOR-I was mentored for the first eighteen months of my real estate career before I went out on my own. I would suggest to new Realtors to either work on a team or seek a mentor to really learn the business for the next two years. I witness many rookie mistakes made and could have been avoided with a great mentor. I am mentoring three people at this time.
Real estate can be very lonely in the beginning because you have to differentiate yourself from other Realtors. Also, nobody cares that you are a Realtor. Rejection is part of the game. One must be able to handle rejection at the start of their business. It is all about numbers. One must be out in public to obtain business. I was never in the office because I was out in the field obtaining and closing business. Sales is the million dollar skill. Obtain a mentor to get through the hurdles of your real estate life.
CONCLUSION:
I love my real estate business. It allows me a lifestyle that I wish to live at this time that I could not of obtained by working for someone else. Real estate is a business and not a part time job. I see way too many Realtors fail at this business because they do not seek out great mentors such as myself. They want to receive 100% commission right out at the gate. However, I have learned that one needs to pay a professional for their advice in order to be on the right track. I have several advisers in my life. I wish the best for everyone during this real estate bubble. Make it happen!
I am always looking for new recruits who wish to start their real estate career. Please visit www.DeliaTeam.com for further information.
Make the Call, Set the Plan, Do the Deal$!
Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities. The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona. You can listent to past shows, or stream on-line.
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I spent the first fourteen years of my career in Corporate America. Then, I decided to enter into the real estate industry. It has been a roller coaster ride ever since I signed up for this duty. I always thought Realtors made easy money. I WAS WRONG! Let me repeat I WAS WRONG! This is the hardest job in the world. This is owning your own business 100% of the time. So, please read the following ways to become a better Realtor: