Being a real estate agent pose a lot of challenges. Sometimes, an agent is not prepared in all aspects of selling a property that’s why he fails. Others just don’t have the drive to excel in the competition so they easily give up. If you are contemplating of joining the real estate industry, take note of the following mistakes that you need to avoid to be successful:
- You don’t have enough savings prior to being a real estate agent. When you become a real estate agent, normally you don’t have a weekly or a monthly salary. Most brokerage companies give commissions based on the actual cost of the property like Las Vegas luxury homes sold by the agent. But getting your first client takes a while. And you need to have enough resources to last until you close your first transaction and get your commission. Running out of money before you receive your first commission is very demotivating.
- When starting a career as a real estate agent, some people do it part-time to “test the waters” first. Doing this part-time means you will not give 100% of your effort and time in learning and in doing your job. If you will only do this during your free time, you will miss a lot of opportunities. Prospecting needs a lot of time before you can get possible clients. Communication needs to be done almost all the time. Meeting a potential client can be set anytime of the day. Part-time will not be enough for marketing, house inspection, holding open houses, meeting potential clients, making calls and drafting necessary documents.
- Biting into false promises. When you become a real estate agent, you will meet other salesman who will convince you to try what they offer because it can help you generate leads. They will offer you to place a front page ad in Google or in a publication and will convince you that it is a good decision since it guarantees that you can get positive leads after placing the ad. This is not exactly true. The quality of leads that you will get from placing an ad is low. It is better if you will just save a portion of you money in other worthwhile expenses like phone bills and gas to do prospecting and marketing yourself.
- Not answering a phone or call back. Your clients, prospects, acquaintances, and friends will call you any time of the day to do business. One missed call or not returning back a call on time can mean a lost opportunity already. Be available to answer the phone all the time, as much as possible. If you missed a call, do the courtesy to call back.