Regardless of the kind of work you may have done previously, real estate requires you to follow several important guidelines, especially if you are just starting out. Here are a few of Marg’s tips…
Tip # 1: Plan, Plan, Plan
A day in the life of a REALTOR® is anything but routine, and planning begins on your first day. Part of this planning involves writing down specific goals and a step-by-step plan on how to achieve them. For example, if you want to achieve two listings per month, how many people must you call to secure those listings? Or, if you want to earn a certain salary, how much will be required each month and how will you achieve that amount?
Tip # 2: Put Money Aside
There is no such thing as a regular paycheque in this profession. Therefore, for every commission you receive when a deal closes, put aside a specific amount (Marg recommends one-third) into a separate bank account. Doing this will help you stay focused on reaching your earning goal.
Tip #3: Advise, Don’t Persuade
One of the most difficult things a new REALTOR® must learn is that real estate is a service profession. Your job is to serve your clients. All you can do is provide them with the information they need regarding buying and/or selling a property so they can make informed decisions. You cannot tell them what to do or make decisions for them, and you cannot judge their decisions.
Tip # 4: Treat People Well
Treat others the way you want to be treated. This ‘golden rule’ is simple common sense. Treat people with courtesy and respect. Be professional at all times. And, most importantly, keep your appointments. Should you not be able to keep an appointment to show a house, for example, make sure you contact the person.
Tip # 5: Build Your Business
Tell people that you have launched your real estate career with a specific brokerage. Make a list of everyone you know – family members, friends, previous work colleagues. Create announcement cards and distribute them as widely as possible. Take out an advertisement in your local newspaper. With more affordable advertising rates and strong readership, you may want to consider a community newspaper instead of a daily.
Tip # 6: Be Creative in Your Advertising and Promotion
If you have a great idea on how to promote yourself, do it, provided it doesn’t breach the Advertising Code. [Stay tuned for a future blog on advertising DOs and DON’Ts.] For example, one REALTOR®, who had previously worked in the utility industry, had the idea to buy drinking glasses that featured his name, real estate company and contact info at the bottom of the glasses, so that people could easily remember him.
Tip # 6: Time Is On Your Side
One of the advantages of being a new REALTOR® is time. You are building your business and likely to not have many clients. As such, you can spend more time with the first few clients, which will help develop trust, credibility, and work ethic. Tell your clients your efforts will be focused on helping them.
If you have a few tips to share, we’d love to hear from you.