10 Things Every Real Estate Agent Knows

HDC_Real_Estate_Basics_Blog_1200x600Each month, Homes.com sponsors the Secrets of Top Selling Agents webinar program, offering agents a free training resource where they can learn advanced real estate strategies. However, before you learn the techniques of the industry’s biggest earners, you must master the basics. Here are ten things every new real estate agent learns.

  1. You won’t get far without at least 3-4 lead sources.

In a perfect world, your business could run off referrals alone. In the real world, however, you may need to knock on doors, use direct mail, try social media marketing, call expired listings, track down FSBOs, reach out to past clients, develop your signs to generate leads, work your way into local homeowners associations, or try any number of other lead generating strategies to get the leads your business needs to grow.

  1. Social media can be great…if you use it right.

Setting up more social sites than you can manage might actually cost you business. Some ambitious agents identify abandoned or neglected social accounts and poach leads from them. Social media works best if you find out which networks your leads are on and then post interesting, local content on that network that sends leads to your website’s lead capture.

  1. Everyone is obsessed with video.

More and more agents are making names for themselves with videos. These days, you can’t look for advice in real estate without the topic coming up. Luckily, all you need to create videos is a smart phone.

  1. No one answers their phone. Or emails. Or texts.

Considering that most internet leads reach out to you first, they can be hard to get in touch with, especially if you miss their initial call. However, you can reach 93% of your leads if you contact each one at least six times. There are also programs like Lead Concierge that can help you get in touch and follow up with new leads faster.

  1. A good CRM is essential.

Nothing is more frustrating than finding out one of your leads who went cold is closing on a listing with a different agent because they couldn’t find your number. A good CRM will let you set up automated emails, track important dates, and make notes so that following up with leads is easy and timely.

  1. You can’t be everywhere all the time.

It’s easy to get stuck in a pattern of being pulled every which way one day and banging your head on the desk out of boredom the other. If you don’t have a plan or schedule, you’ll end up pulling your hair out. Time blocking, hiring an assistant, and just buckling down and sticking to your to-do list can help keep you on track.

  1. Taxes aren’t taken out of your checks.

As a real estate agent, it’s up to you to deduct your taxes, health insurance, and retirement savings from each check you earn. Otherwise you might end up in a bind at the end of the year. Luckily, there are easy ways to track your receipts and deductions and keep you on track for tax season.

  1. Expect the unexpected and you’ll still be surprised.

You never know what’s going to happen. Today you may find yourself stuck in a traffic jam on the way to a listing presentation. Tomorrow you may find an alligator in the pool right before your open house. Surprises are part of the real estate process.

  1. A negative review isn’t the end of the world.

No matter how hard you work or how awesome you are at your job, eventually someone’s not going to be happy and they’ll leave a bad review about you online. No matter what they say, what’s important is how you respond. As long as you take proactive action with your negative reviews, you can mitigate the damage to your reputation and brand.

  1. Tracking results is hard.

In real estate, sometimes you have to spend money to make money, but figuring out what’s actually working is difficult. Are your Facebook ads generating leads? Did any of them convert? Were any of the calls you got last week because of the geographic farming you’ve been doing?

Find out how to track your results in the Holiday Marketing for Real Estate eBook.

*Bonus: Not every listing portal is the same.

Some of the biggest portals don’t send you a copy of your leads unless you pay to upgrade your account, but not Homes.com. We send the listing agent a copy of every lead their listings generate regardless of whether they subscribe to additional services. Make sure you’re getting your leads by setting up a free profile today!

What did you learn as a new real estate agent? Let us know in the comments below!

Hannah Graham

Hannah Graham

I joined Homes.com's support team in May 2012 before moving to marketing in 2015. In that time, my nieces have grown numerous and my two pups, Annabel and Aya have grown enormous!
Hannah Graham

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