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What are the most important things for every new real estate agent to know?
The biggest thing is get on a written budget first. If you have never worked for a commission only job this is difficult as you have to spend money to make it but you also need to eat. Often Real Estate Agents need to appear to have money as well to be trusted (the assumption is money=success in our field), while I have never seen a study I would assume most former agents got out because it is difficult to manage money when it isn’t a regular paycheck.
After that network, I noticed your tab said commercial. This is a much harder field to find clients. Very few people are small business owners and the big guys already have agents so breaking in is difficult. Be consistent in networking and always be around and a connector to good vendors, articles or anything else that will help a small business owner.
Knowledge is a other huge thing. You MUST be smarter than the other guy. I spend hours a day reading the news, local, state and national as well as trends in Industries so that in the off chance I meet a potential client I can speak intelligently about what their needs are. I know what is going on in my market and always looking to know what maybe happening before anyone else does.
After that be resilient, most new commercial agents starve the first couple of years, be willing to take any client. Many Agent will ignore the 500 sqft office space because you are going to make $300 on the deal if you are lucky, however that is how you build your sphere of influnce and pipe line. You should focus on your pipe line for years down the road and not just your next sale or lease. That small guy may grow or does business with someone else and that is a referal right there.