When you first decide to get into Real Estate, you have the best of intentions and a strong desire to help…BUT OFTEN TIMES, VERY LITTLE ELSE. ~ Patrick Flynn
After 19 years in the industry, I’ve seen many changes. In all the changes, there’s always been one very well defined constant…Agent and Brokers are given very little direction when they first get into the business. This tends to be perpetuated mainly by the Agent and the Broker themselves…let me explain.
The Real World vs. The Real Estate World
The real estate industry is built backwards. Simply put, unlike the real world where one would go to college or trade school to receive an education and training for their chosen profession, real estate agents skip that part and simply go into their career with little if any practical training or education in the field of marketing.
Sure, you have to go to real estate school for a measly 120 hours…pass a simple real estate test and then you is one!!! But, the classroom training really only covers what you’ll need to know to pass the test and does nothing to train you for your real job…MARKETING!
MARKETING? Don’t you mean real estate? Nope…I mean Marketing!
Visualize your real estate career like the owner of a shop. If that shop keeper didn’t have a sign on their store, open their doors everyday at a specified time, and offer shelves filled with items to buy..they’d be out of business.
In real estate, it’s no different. What is different is most real estate professionals fail to let the public know they’re open, then open their doors ‘when they feel like it’ and have very little on the shelves if and when someone does ‘come in the store’!
OK, How Do I Find the Right Broker(age) to Help Me Market…ME!
This decision may (at least it should) be predicated on the Broker(age) that offers you the most. What you feel is the most is up to you. The most what? Training? Coaching? Support? Commission Split? You can’t have it all…or can you?
With an attrition
drop out rate of 70’ish%, many new agents who don’t put Training and Coaching ahead of arbitrary things like commission splits or low fees are destined to struggle.
I’m going to let you in on the Biggest Secret in the Real Estate Industry.
THE BROKER(AGE) WORKS FOR YOU..NOT THE OTHER WAY AROUND!
Told you this industry was backward…NOW, make that work to your advantage!
Awesome..Got It! What’s Next?
When you elect to become a part of the company or Broker(age) that offers the best training and coaching, you can now leverage that to quickly becomes empowered! Taking the next step to get involved with one-on-one coaching and group training clearly leads you on a path to achieve success and become an actual real estate agent. Not just someone who is muddling about, doing a deal here or a deal there and wallowing in various stages of starvation.
REMEMBER…The Road to Success is Constantly Under Construction! ~ Lily Tomlin
Start Thinking Like a Marketer that Does Real Estate…Not the Other Way Around
Below I’ll outline what I’ve been successfully coaching real estate agents and brokers for years to do. The very first meeting I have with a new client instills immediately that I don’t coach you how to sell real estate! This tends to throw most for a loop…and it should. Because you were not trained properly in the first place.
So, first step…you need to forget that you’re in real estate and start realizing you’re in MARKETING.
12 Must Have Real Estate Tools In Your First 90 Days
1. Scripts and Dialogues
Without these, you are simply making
Shit stuff up! You must practice these every day and you must practice these with a role playing partner. Being able to internalize these will save your bacon time and time again. Learning how to ‘handle objections’ and triggering some of the ‘language of selling’ are one of your primary first steps as a new real estate agent.
What are Scripts and Dialogues? Simply put, these are ‘Words that Work’. Knowing these offers you the ability to:
- Know what to say
- How often to say it
- And, who to say it to
When it comes to building the foundation for your real estate business, the second primary step on your journey is tied to Scripts and Dialogues and the third bullet point above…’Who to say it to’.
Without a database, scripts are useless. Without a database, you have no one to market to. Without a database, your real estate business is destined for failure.
What’s a Database?
Something as simple as Facebook can be considered a database. Anyone from a person you just met to folks who you’ve worked with in the past should be in your database..and contacted systematically through:
- Social Media/Email Marketing/Listing Alerts
- Phone Calls
- Geographical Farming/Door Knocking
- Drop-by/personal visits
- Note cards/personal hand written notes
- Text/Video Text
3. Website w/IDX
Anyway you look at it, you need to have a website with a home search. The cool thing is most ‘name brand’ broker(age)s usually have one ready to go for you! They generally come compete with an IDX (Internet Data Exchange) already set up so you can display home searches right out of the gate..AND, in some cases, these proprietary sites come at little to no cost to you…even better!
Problem is…you still need to make it your own! That’s where the rubber really comes off the road for most real estate agents.
So, what do you do? You’re not a web designer. Well, you either need to learn how or find someone who can help you with adding things like:
- Your Bio and About Me page
- Community pages
- Custom Links
- Blog Content
- Add your domain name
You know…things that make a website…a website.
4. Domain Name/Web Address
When you’re first starting out, you need to establish your online presence. And the best way to make sure you do that is by purchasing a domain name. This may be the only item in these 12 things that costs you any money but it’s money well spent!
It’s both an easy and powerful way to begin your real estate marketing platform. Several options are available to set up an account and purchase your domain. Here are a few:
- Network Solutions
5. Email Signature
Whether you do this on your own or you use an online service, having a professional email signature is an extremely easy way to establish a clean and polished look at no cost.
Here are a few online services that offer a free email signature:
Some of the things you may want to include in your email signature:
- All you contact info like phone, website, ect. HINT: Do not include your email address in your email signature!
- Social Media Links
The look is great and the process is easy…but the results are what stand out to your clients!
6. CRM/Email Campaign
In my nearly 2 decades, I can count on 1 hand how many agents (new or otherwise) that use a CRM or email campaign software. A CRM (Customer/Client Relationship Management) system is something that is widely talked about and rarely used.
The idea of a CRM is to have a system to add contacts to a centralized platform that allows you to:
- Keep Names, Phone Numbers, Email Addresses. Birthdays, Anniversaries and other pertinent info
- Systematically remind you to create and/or complete a task
- Create a way to send emails to multiple people or groups
The problem with most CRM’s is you have to add to it consistently and often! And, you have to clean it consistently and often! And then you have to use it consistently and often.
7. Working Knowledge of your MLS Forms/Dot Loop/Skyslope/Transaction Desk
Finally, something that has to do directly with real estate! Well, kinda!
Generally (and by far the craziest thing) I’ve found is the first attempt at writing a real estate purchase and sale agreement is when you are writing your first real estate purchase and sale agreement! Get to know your real estate forms ahead of time.
You must be able to write an agreement for various scenarios both for buyers and sellers well before you ever get in front of either!
Then there are the resources and tools used to create and distribute these agreements that will require your mastery as well.
Transaction Desk and Dot Loop are both widely used and will demand you have a clear understanding of how they work. The time for learning these systems is not when you’re under the pressure of trying to get a document to a client for signatures or needing to upload a file for broker review a week before closing!
8. Social Media Accounts/Needed Apps
Having an online presence often times starts with your social media accounts.
There are several misconceptions regarding mixing personal with business. The simple truth is your social media accounts should be designed to incorporate both personal and business…to try and separate or keep one from the other is difficult and ultimately a waste of time.
Secondly, your social media accounts are not ‘soap boxes’ for you to spout your daily insight on things as you see them. You wouldn’t walk around the office bothering people with your opinions and views…why would you do it online?!
Social Media, for all intent and purpose, is little more that a medium to engage, interact and ultimately build relationships through conversations online. Use it as such and you will begin to see the true value in it!
The more commonly used social media platforms you need:
Each one of these social media accounts should also be on your phone and tablet as an app! No more excuses that you weren’t in front of your computer. With these apps, you have first line access to all your accounts in the palm of your hand.
Other apps you should have on your phone:
- Your Broker(age)s Mobile App
- Supra eKey
- Facebook Messenger
- Your Email Account
9. Logo/Business Cards
Creating a logo isn’t usually high on your To-Do list but it should be. You’re a business owner and a brand, having a well designed logo helps you create awareness for both!
Again, this can be done at little to no cost to you. Some of the tools used to create a logo are:
- Canva.com (FREE)
- Microsoft Publisher (FREE)
As mentioned earlier, the Broker(age) works for you so see if they’ll pony up for some business cards when you first are starting out. This may be a better way to go both from a cost standpoint as well as a compliance standpoint since the Broker(age) logo as licensed needs to be on your business card and better they make your first batch so you know what is expected.
10. Listing Presentation
Preparation is everything in your small business! Having things done and ready to go well before you need them will save your sanity in the end.
Nothing could be more true than to have your listing presentation completely done and ready early in your new career. Just like I mentioned in #7 above, the worst time to be working on getting this put together is when you need it!
You can find templates for listing presentation just about anywhere, including your Broker(age), and all they need is your special touch. Having the time and the resources to really devote to making this your own should be a high priority…DON’T WAIT UNTIL YOU NEED ONE TO CREATE ONE!
11. Buyer Presentation
What I said above!
12. Business Plan/10-4/1-3-5
Finally, you want to have a clear outline of not only what you want for your real estate business but a system to follow so you can get there.
Business plans come in may shapes and sizes. They are custom & unique for you and your business. They can be short term or long term and they can be broken down into ‘bite size pieces’ so you can really dial in on what tasks & goals you need to perform on a daily, weekly and monthly basis
Some easy to digest tasks formulas that you can incorporate early in your career can look like this:
- Make 10 contacts a day
- Add 10 people to your database a day
- Send out 10 ‘touches’ (notecard, email, video text, personal letter) a day
- Preview 10 properties in your market a day
- Create the 1 thing you need (appointment, listing, contract, closing) for the day, week or month
- Create 3 tasks/goals you need to complete to get that 1 thing
- Create/Implement/Utilize 5 Systems/Tools/Models to reach/complete the 3 tasks/goals you need to get that 1 thing
This article was written by: Patrick Flynn