Tips for New Real Estate Agents   by FrankRizal

in Real Estate    (submitted 2012-01-26)

With the growing number of real estate agents around the world, having a license and knowledge about the laws and regulation of the real estate industry is already common. In the current statistics of National Association of Realtors or NAR 40 percent to 80 percent shows that many real estate agents are not successful and in the next three years the research predicted that the percentage of unsuccessful real estate agents will increase up to 90 percent. Of course as a realtor you don't want to be included on the list of the unsuccessful ones. Let us then discuss some tips which can help you become successful.

1. Real Estate Agents are a Business. Yes, first and foremost you are a business, a small business. Well of course you know that as a realtor you work independently and you are being paid in a commission basis. Meaning you all have the control on what you do. And as a small business you have to do all you can to earn and generate income.

2. Plan Your Strategy. Every business either the huge or the small ones plans for their business strategy. And you as a realtor you also needs to plan your approach not only because you are a business but also remember that your competitors are doing and planning strategies to outrank you. You don't want to be left behind right?

3. Research the Market. Before creating your plan and approach you have to become familiar with your market. What is the current status? Is it improving or continuously dropping. All of these factors are needed to be considered in order to create an effective strategy.

4. Set up your Sales Goals. Now that you have your plans and you already know the current status of the market, you can now visualize your goals. As a new realtor it may take up to 6 months before you're first sale. Have you ever heard about WHY SMART Goal Criteria? You can use this method to set your goals. WHY SMART stands for Written Habit Forming Yours Specific Measurable Attainable Realistically High Target Date.

5. Financial Budget. Do you have to budget to finance your business. Make sure you are ready for expenses in running the business. Especially as a newbie you have to get all your expenses on your pocket.

6. Set Priorities and Time Management. As a realtor it has to be clear on your mind what should you prioritize and you have to learn how to cascade your time efficiently. You have to balance everything that you do in order to meet and do all the things you need to do.

7. Have a Good Mentor. Learning alone is not easy; you will need the help and assistance of others in order to become an effective real estate agent. So I advised you to look for mentor who already has long and broad knowledge and experience at real estate. I assure you will learn a lot from them.

As I've said in the beginning, being a real estate agent not only means you have a license and background of the industry. You can need to play the game and have strategy to compete and win with the competitive world of real estate.

About the Author

Frank Rizal is from DMCI Homes who mainly sells house and lot and real estate properties in the Philippines. Frank is now currently part of DMCI Homes Leasing Services team who offers apartment for rent in the Philippines and condos for rent.