5 Mistakes To Avoid When Starting A Career In Real Estate
If you’re just beginning your real estate career, congrats! You have just started one of the most rewarding careers. We love our job but know it can be difficult, especially when you are just starting out. It’s important to know these 5 major mistakes that you can avoid doing to not only save you time and money, but to help further your career.
Trying to Do Everything
When you first start off, you may think you need to rush into everything by selling as many homes as possible and working with every buyer or seller that come your way. Although this may sound like it will help you gain experience, this could cause you to spend money and time on things that don’t bring any return to you. Instead of trying to do everything, figure out what you want to specialize in and become an expert in that. This could be first time home buyers, commercial vs. residential real estate, or investment properties.
Expecting Success Right Away
It will take some time to figure out the ins and outs of the market and what you want to specialize in. Make a plan, stick to a budget, and make obtainable goals when you are starting out. Remember, “Rome wasn’t built in a day” so you shouldn't expect immediate success when you begin your career either.
Lack of Marketing
Creating relationships with other agents and building a reputation among clients is important. But if you’re not marketing in this digital age, you may fall behind. Building a brand for yourself online is just as important as the relationships you build in person. We recommend being consistent with writing blogs to help educate your audience and position yourself as the local expert, make sure your listings are visible across all search engine sites, and make sure you have an easy-to-use website so potential clients can easily find you.
When you are beginning your career, you’ll most likely have to spend some money before making any profit. Plan in advance for essential things you need to have and make a list of the things that might be nice to have once you are more established to avoid overspending in the beginning. Some essential expenses you may need to spend on are a MLS subscription, organizational dues, marketing material such as business cards and a website, and a reliable source to get you to and from showings and meetings with clients.
Choosing the Wrong Brokerage
The brokerage you choose is one of the most important decisions of your career. The brokerage you choose will shape your career depending on the technology and support they have available for their agents. Having a good reputation in your area and a competitive split are great reasons to join a brokerage, but make sure your managing broker is there to support you and help you grow your career.
If you’re not sure what brokerage is right for you, check out our guide on the “5 Questions To Ask Any Brokerage Before Signing" right here to help you make the right choice for you.
It’s no secret that success doesn’t happen overnight. It takes time and a lot of hard work to build a career in real estate. We have agents who started at Trueblood Real Estate with less than 3 months of prior experience and some who came to us as experienced agents in the industry for several years. Both have been able to find success here. If you'd like to learn more about life at Trueblood Real Estate check out our careers page.