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As Darryl Davis suggests, now is not the time for conventional wisdom, especially if you’re a new agent. With more competition, less inventory and ever-present uncertainty, standing out is the key to staying in the business.
Below, you’ll find the typical new agent advice Davis says isn’t worth it for new agents right now, combined with practical advice from the Inman community on how to make it work in today’s environment.
‘Do it the way it’s always been done’
The uber-salesy approach is out, and frankly, a little tone-deaf.
People don’t want to be sold, talked down to or leveraged. They want to work with a trusted professional who can coach them to make great decisions for their families.
Here are a few alternative approaches:
4 non-salesy excuses to call potential sellers
Start strong: 5 strategies for new real estate agents
4 selling strategies that need to shift with the market
‘It takes money to make money’
Rather than pouring money into your business, Davis suggests you get comfortable being uncomfortable. Prospect, focus on dollar-generating activities and find ways to bootstrap. Here are a few ideas:
Here’s how I generated $11M in listings — in 3 months
On a dime: Bootstrap your business with these 8 simple strategies
On a budget? 35 dollar store finds to spruce up your listing
‘Memorize scripts’
Conventional wisdom for up-and-comers in real estate is to learn scripts, but people respond to sincerity, authenticity and empathy. Rather than becoming a script-regurgitating robot, here are a few ways to get the conversation going:
Stop, look, listen: Focus on what sellers are NOT saying at listing presentations
Flip the script: 5 conversation-starters every buyer’s agent needs
The real estate prospecting conversation-starters every listing agent needs in 2022
‘Only work with buyers when you are starting out’
As the adage goes, the agent who controls the listings controls the market. Well, the market is tough right now with listing inventory at historic lows, but here are a few tips:
12 ways to generate listings in a low-inventory market
A comprehensive guide to finding inventory in today’s market
22 ways to generate real estate listings in 2022
‘Call until you land an appointment’
New agents used to be coached to get on the phones and call until they got a listing appointment. The name of the game today is providing value, building relationships and earning trust.
How to build lifelong relationships in real estate
3 ways to earn prospective clients’ trust amid uncertainty
Show ’em your value: 7 P’s of real estate agent marketing
‘You can build your database later’
Sure, you can wait to build your database, but it’ll be a much taller mountain to climb, and one you might find overwhelming. Start from the get-go and it’ll be easier to stay in touch, and top-of-mind, with your sphere — those people who know, like and trust you already. Those are the people who will become the bread and butter of your business.
Database on lock! Get more ROI with these CRM tips
‘Profit is in the details’: How to make your CRM pay off
How to transform your SOI into an effective CRM