Published by Kartik Subramaniam
Once you complete our real estate school and pass the real estate exam you’ll be out on your own to start your career. Hopefully you’ll be ready to land your first client and take home a big commission! =)
After doing well on your real estate license exam, you'll get your desk set up with your broker and start working some leads. You’re probably going to start reaching out to your sphere of influence and let them know you’ve started a real estate career.
As a newer real estate professional, the goal should always be to compress the time between finishing real estate school and cashing your first commission check.
To this end, I wanted to write a quick article exposing some bad habits that real estate agents can develop if they’re not careful.
Remember That Self-Employment Is Vastly Different From a 9-5
A self-employed person is solely responsible for his or her workday. In the real estate industry, it’s a common misnomer that once you pass your real estate exam, you’ll have leads pouring in and homes to sell. That’s not what happens.
Instead, you need to work to create your own business. This often means spending time daily working to drum up business, cultivate leads, market, and respond to internet inquiries. Here are a few of the bad habits real estate agents create that virtually prevent them from becoming a successful Realtor quickly.
You’re Doing "Busy" Work
You’ve ordered business cards. You cleaned up your desk. You have talked to a dozen other agents today about what’s going on in their business and personal life. You may have even touched up your LinkedIn profile and posted a picture of the salad you had for lunch on Instagram. All of these “tasks” might feel necessary but the bigger question is what did you ignore by doing these things?
Are you prospecting for buyer and seller leads? Are you following up on existing ones? In short, it’s easy to “feel busy” without actually building your pipeline, which ultimately cuts into your income.
You’re Frustrated with Your Workday
There are a dozen calls you have to make today for various reasons. Each one of them could be a lead. Perhaps you have some really good leads, but there’s so much on your plate to do right now that you miss those key opportunities to connect. You’re in and out of the office, forgetting appointments, and not seeing the kids. And, you thought this career was flexible?
This is a common concern. The problem is that without any oversight into your activities and a consistent schedule, it’s easy to lose track of what’s important. To be successful as a real estate agent, you have to be organized. You also have to create a schedule that works for you and stick with it. This discipline is actually the key to freedom. Make time to plan for every task that matters during your course of the day.
Remember - The number one calendar item is prospecting.
Other Bad Habits Costing You Your Career
After completing real estate school, it’s easy to become overwhelmed. Here are more of the common bad habits agents have:
You aren’t communicating with your prospective clients fast enough. This is especially true for internet leads. Speed to contact makes a big difference in results. Make every client believe that they are your most important client. Work to return calls as quickly as possible. Try and email back as fast as you can.
Failing to marketing adequately. If you’re not seen in the local industry, you’re unknown to prospective clients. Make marketing a component of your day, every day. Remember that there are over 400,000 real estate licensees in California alone - You have to make noise to stand out!
You’re not looking as professional as you should be. Consumers expect agents to look professional at all times. If you look disheveled, that could indicate you’re less organized and not “with it.”
Not updating your website or social media accounts in quite some time. Remember, if you haven't posted in a year people will wonder whether or not you are still in business.
Send a contract to be signed electronically and tell the client to sign without explaining what they are signing.
Being "too busy" to call other agents back.
Working 24/7 and not taking care of your health.
Getting paid your commission and not setting aside money for taxes.
If you finished at our Orange County real estate school don't forget that this is only the beginning. As Warren Buffett says "The chains of habit are too light to be felt until they are too heavy to be broken." The best way to break bad habits is to avoid them in the first place.
For information on getting a real estate license, call us at 888 768 5285.