Over the past several days we have created a niche to differentiate ourselves and we have researched that market and learned the inventory. We also identified our ideal client and, in addition, learned how to qualify the client. Yesterday we discussed creating a marketing plan, calls to action, and how to deliver these to your target audience.
Seek out a mentor, preferably an active agent or manager
One who will take you under his or her wing and guide you toward methods that work for you. Do this before you jump in the car with the first person who has a pulse. This one thing will enhance your chances of success.
If you do not have a mentor, consider hiring a coach or asking a trusted friend to keep you accountable and on track. Share your goals with this person and report weekly (daily would be better) on your progress.
I also suggest hanging around great agents and picking their brains like crazy!!!
Real estate agents need competency in many areas when representing clients’ interests. There are short sales, foreclosures, luxury homes, the staging of a home or a green transaction — to name just a few.
Do you have all the specific knowledge that may be required when dealing with these different transactions? Do you understand the sales contract from front to back? You actually have a fiduciary duty to do so. These are areas where a mentor can help.
There are also plenty of courses and books available for adding to your skills — both online and off.
Knowing when to hire some help
Early in your career, before you can justify employing an assistant, you should consider using virtual assistants, or VAs. These usually self-employed individuals work remotely on tasks and projects that either you don’t have time for or where you lack the appropriate skills. Plus, you pay only when you need the help.
Don’t be afraid to ask for help
If you find yourself out of your depth with a client or a particular transaction, ask your mentor for help immediately, or team up with an agent who knows his or her stuff. You may have to share some of your commission, or you may even have to bow out and refer out the transaction to someone way more familiar.
Chalk it up to experience and realize that the time has come to for you to focus on improving your knowledge and skill set and increasing the value you bring to the homebuying transaction.
Don’t focus on the money
There is nothing worse than a client realizing that he has a less-than-average agent representing him; if I were that client, it would p*** me off.
Don’t be the weasel agent who takes too many shortcuts and is just in it for the commission; I promise, you won’t last long in this business.
Do whatever it takes to ensure your clients’ interests are protected
Your current and future reputation is worth more than one sour transaction, the soiling of your integrity and, not least, the possibility of ensuing lawsuits.
I recommend never working out your commission before closing. Personally, I never have and it has served me well. Because if you already know the exact number, you will already have mentally cashed the check.
The reality is that knowing the actual number could ultimately affect your decisions and your relationship with your client, especially if the deal is going south and it’s in your client’s best interest to walk away.
Please don’t be that desperate agent with dollar signs in his eyes and short of money … clients will smell you a mile off.
Wow your clients with service and the money will automatically follow.
How to earn quality referrals
What your client wants from his or her real estate agent is real knowledge, proven experience and professional quality service.
Your client wants to be shielded from the headaches of dealing with paperwork, wants to be listened to, wants the process as painless as possible, and wants you to be there when he or she needs you to explain.
What your client really wants is for you to handle the transaction seamlessly, brilliantly.
Leaving a lasting impression of brilliant execution
If during the transaction you behave and act like the best real estate professional in the world, do you think you would be at the top of your client’s mind far more often?
If you took all the effort you put into talking about yourself into just blowing the client away, do you think that you might get more referrals than fewer?
In every single transaction, there is at least one opportunity in which every agent can do something memorable
For the consumer, a real estate transaction is a usually a life-altering event, where there is at least one opportunity for you to leave a lasting impression of brilliant execution.
If the opportunity doesn’t seem to exist, find it!
Leave one lasting memory in the client’s mind and you will be rewarded with more referrals than you thought you could handle.
This one concept will earn you far more referrals than sending out cards or gifts or because the client is a Facebook friend or Twitter follower.
I’d like to personally thank Inna Hardison and Rob Hahn for their input on this concept.
Print up the graphic and stick it to the top of your computer screen where you cannot ignore it.
This is the last article in a five-part series delivered during the course of this week. These articles were all extracts from the free 34-page e-book, “I got my real estate license, now what?”
You can get your copy and the accompanying 10-page workbook at WebRealEstateTools.com.