October is New Agent Month at Inman. Follow along as we go deeper on the tools, tech and tips you’ll need to survive and thrive in 2024. For curated content crafted just for first-year agents, be sure to subscribe to our weekly newsletter, The Basics.
New agents know that they have much to learn, but unfortunately, many have to undergo a “trial by fire” to achieve the coveted “seasoned” pro status. Sink or swim, being thrown to the wolves whatever allegory works for you —Working with the public is not for the faint of heart.
There are several tips I wish a “real estate bestie” would have grabbed me and pulled me aside and told me — the real tea about just what challenges were about to come at me. I wish someone had let me know that what I was experiencing wasn’t because of me, but rather because it’s a normal part of the job.
So, in no particular order, here are a few things that would have been helpful to know as a new agent fighting to establish a career in an arena of expert real estate gladiators.
- Eat your statistics for breakfast until you know them inside and out. Many seasoned agents have the inside track on inventory. This gives them an edge over you right out of the gate. Learning how your local market works is critical to finding the best “deal” for your clients. Each day see what comes on the market, what goes under contract, and what has sold. This habit will give you the inside track, as many established agents slack in this area and wait for their clients to tell them what they found on Zillow.
- Get involved at your local association. This is where you will make friends with seasoned professionals and start building the relationships that will help you become an “insider.” Usually, the top agents are volunteering at the association, and they always need volunteers and helpful committee members. This will be better for your career than any BNI group you join.
- Working with the public is dangerous. Screen every client carefully. You may be harassed, lured to a vacant property under the pretense of a showing or targeted at an open house. If you arrive at a showing early, watch your surroundings. Always be aware of your surroundings when returning to your car. Have a safety plan. Predators are clever. One time, a man called who was very sweet and said he was a nurse who was looking for a home for himself and his aging parents. I just had strange vibes because parts of the story didn’t make sense, and his financial pre-qualification didn’t sound right. I called my local association and found out that this same man had targeted six other women agents in the area. You may also get harassed on the phone and receive threatening emails or text messages. Contact local authorities immediately if this happens.
- Your body and clothing are fodder for your clients and your colleague’s unsolicited comments, observations and criticisms. No matter how you dress or what shape you are in, you may receive positive or negative feedback from your clients and the agents you work with. For some reason, agents especially are under the microscope, and it can be very distressing if you are not prepared to handle it. In a word, people can be boldly rude. My best advice is to dress comfortably in things that you are confident in. You will never please everyone. I’ve had clients and agents comment on my weight, ask if I was pregnant, or ask about my marital status. They’ve said they liked my jacket, that color makes me look ill, and I look tired when I don’t wear makeup. They hated my jacket, they liked my hair long, they hated it when I cut it short, I have poor posture, my skirt was too short. Why am I wearing tennis shoes? It goes on and on and on. Be prepared for these comments, and don’t take them seriously; they are often a reflection of the other person and have nothing to do with you or your professionalism.
- You will spend so much time in your car. Make sure it’s reliable and has cleaning supplies, snacks, phone chargers, a first-aid kit, a backup outfit, wate, and everything you need to go write an offer at a restaurant after a good showing. Sometimes you will need to move quickly a viewing and if you and your clients are in a rural area you may need to find a place to “camp out” and work through an offer so you can get it submitted quickly. Try to keep it clean, you will get comments if you show up with a dirty car.
- You need to know exactly what your clients want, and it will change all the time. Set up a time to meet with buyers and sellers, and carefully listen to their goals, take notes. Then, provide them with the notes to help keep everyone on the same page and focused on the transaction. Important disclosures and education deserve their own meeting. This is critical to get out of the way. Educate clients about how a contract works and what points they may want to include in their offer or what points they want to be included in an offer they would accept. Getting this education out of the way up front ensures that they are making the most informed decision, and they are not overwhelmed.
- Over-communicating is the only way to communicate. No one is paying attention, people do not read, emails are missed, conversations are misunderstood, and you need to have information in a text, email and a real conversation.
- Real estate transactions are not always happy occasions. Many times it’s a sad or stressful situation that is prompting the move or sale. It’s not like HGTV, and often you will find yourself in the middle of family arguments, estate liquidations, divorces or people in financial distress.
- Don’t let clients ride with you in the car, and don’t ride in the car with them. Thank me later for this one. This gives you a moment to prepare for the next showing, and it gives them a moment to think about what they want, so they can discuss (or argue it out) privately.
- You are going to get yelled at (regularly), and people will to lie to you (regularly). It’s the worst part of the job and it comes from agents, from customers, from vendors. This is a stressful career choice, and you are going to have folks lose their composure, be venomous, be deceitful, throw you under the bus, create drama, use profanity and sometimes just be creepy-slimy-gross humans. If you are a Care Bear like myself, remember to not take it personally. Let them say their piece. Stay calm, and direct them to your broker. Document everything to CYA as best you can. This often happens when you have to deliver bad news, and people do not have the tools in their toolbox to emotionally regulate their behavior.
- Clients will do what is best for them even if you think you are friends. Agents will do what is best for them even if you think they are friends. This means that deals will blow up and fall apart by their own doing, and you will have no control over it even if you have done nothing wrong. Don’t take it personally. You have to separate business from emotions sometimes, and it sucks.
- Don’t spend your commission before you are paid. Have a backup savings account to cover your expenses when deals blow up at the closing table. Hire a CPA to do your taxes. Set yourself up on a quarterly tax payment plan. If you don’t have this organized, this alone could prevent you from purchasing a home when you are ready to buy.
- It takes 90 to 120 days to build a pipeline that moves. Be patient, and remember that you always need to be filling that pipeline.
- You have to really love what you do; this work is hard, and it can make you bitter quickly. Make sure you have planned activities to fill your personal cup so you can stay healthy mentally and physically because you will need both to be able to sustain this job.
- Time management will make or break you. Figure out a system that works for your personal schedule and work habits.
- Look for the transactions other agents do not want to do; this is where you will find the most consistent business that you will not have to compete for.
- Don’t listen to the haters. You will run into agents who do not want to see you in the business, especially if you are part-time or working at a discount brokerage. They will go out of their way to make it difficult for you and tell you how terrible of a new agent you are. Go out of your way to befriend them and charm them before it’s a problem. Before sending an offer, call them, introduce yourself and comment on their most recent sale. Seasoned agents demand respect and recognition from new agents. There is a pecking order, and they expect you to fall in line. They will be impressed you are familiar with their work. This method will go a long way and show you are paying attention.
You got this friend
Being a new agent will be a roller coaster ride until one day you realize that you have made it off the ride, and five years later it’s just business as usual. Make sure to create a solid support system all the way. Invest in education every chance you get. Follow sales practices that align with your personality and your personal ethics and morals. Don’t let a coach pressure you into doing something you are uncomfortable with.
There are many different ways to run your business, and half the battle is figuring out how to customize it to your needs. New agents in this market have a huge advantage. You have no bad habits; you don’t know what the market was like without all the new forms. You are hitting the ground running and you will figure out how to make it work.
This will be one of the most challenging careers that you will ever have, but the rewards are pretty fantastic if you can hang in there. You got this, and if you ever need a pep talk, know that there are folks in the industry cheering you on to succeed every step of the way.
Rachael Hite is currently perfecting her long game selling forever homes in a retirement community in Northern Virginia. Hite is a business development specialist, fair housing advocate, copy editor, and former agent. You can connect with her about life, marketing and business on Instagram.
