As entrepreneurs and small business owners, we dream of our business ideas taking off. As real estate agents and broker-owners, we wear multiple hats on a
What is your #1 way to get business as a new real estate agent?
There are a number of ways to get business as a new agent but I’ll start with the ones that are the most cost effective because typically, as a new agent, you likely don’t have a large budget to work with… Not yet at least.
**One thing to always keep in mind – being a great real estate agent has much less to do with selling a house then you’d think… It’s actually more about “getting the business” and the best way to do this is by building a massive network.
The more people you know and more importantly, the more people that know YOU and about what you do, the more successful you will be. Hands down, real estate is a numbers game.
Anyways, there are many ways to get business but here are my top 3 that I believe you need to focus on before anything else:
- Sphere of influence – Make sure that all of your friends/family and their friends, and friends of those friends know that you’re a real estate agent. Everyone around you should know what you do and you have to reach out to them (but try not to annoy them either).
- Open Houses – Hosting open houses is an easy and great to get in front of people. Guests aren’t necessarily always qualified but they’re likely there for a reason. Maybe they don’t buy/sell for many months (or years!) but display value, ask for their info and keep in touch! (The last one is the most important). *This is also a great way to practice your ingerpersonal skills & the process of pre-qualifying prospects. I know many big time real estate agents that have built their businesses by regularly hosting open houses.
- Talk to other agents and even consider joining forces with an established agent or team. This is great if you don’t have a massive network to work with and you want to learn the ropes quicker. Great agents are usually busy which means they could use the help of someone that can hustle. Everyone can provide value to someone else if they have the time, determination and willingness to learn. Find someone who needs help and stick to them like glue, watch what they do and create a win-win for both parties.
*Full disclosure: I’m on a team where I pay a portion of my commissions back to the team in return for support. Basically, I’m given resources (systems, training, brand recognition, leads, etc.) so that I can be better at what I do and do more business. Some agents may have a tough time letting go of a portion of their earnings but I would gladly pay into something that offers a return and ultimately nets me more at the end of the day. In my opinion, the biggest return is on the mentorship I receive, you are able to follow in the footsteps of someone that has done it all before and you can skip much of the learning curve typically associated with this business.