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Randy Denehy

Resumo da Biografia Each time I talk to someone about our business and career, it always comes up that "they've thought about getting yourself into real estate" or know somebody who has. With so many people thinking about getting into real estate, and getting into real estate - exactly why aren't there more successful Realtors on the planet? Well, there's only so much company to go around, so there can simply be so many Real Estate Agents in the world. Personally i think, however , that the inherent nature of the business, and how different it is through traditional careers, makes it difficult for the average person to successfully make the changeover into the Real Estate Business. As an Agent, I see many new agents make their way into my office - for an interview, and sometimes to begin their professions. New Real Estate Agents bring a lot of excellent qualities to the table - plenty of energy and ambition - however they also make a lot of common mistakes. Here are the 7 top mistakes rookie Real Estate Agents Make. 1) Simply no Business Plan or Business Technique So many new agents put all their emphasis on which Real Estate Brokerage they are going to join when their shiny brand new license comes in the mail. Why? Because most new Real Estate Agents have not been in business for themselves -- they've only worked as workers. They, mistakenly, believe that getting into the Real Estate business is "getting a new work. " What they're missing is the fact that they're about to go into business with regard to themselves. If you've ever opened the doors to ANY business, you know that one from the key ingredients is your business program. Your business plan helps you define exactly where you're going, how you're obtaining there, and what it's going to take for you to make your real estate business a success. Listed below are the essentials of any good business strategy: A) Goals - What do you desire? Make them clear, concise, measurable, plus achievable. B) Services You Offer - you don't want to be the "jack of all trades & master of none" - choose residential or even commercial, buyers/sellers/renters, and what area(s) you would like to specialize in. New residential real estate agents generally have the most success with buyers/renters and then move on to listing homes right after they've completed a few transactions. C) Market - who are you marketing yourself to? D) Budget - consider yourself "new real estate agent, inc. inch and write down EVERY expense which you have - gas, groceries, cell phone, etc ... Then write down the new expenses you're taking on - board dues, improved gas, increased cell usage, marketing and advertising (very important), etc ... E) Funding - how are you going to pay for your budget w/ no income for the first (at least) 60 days? With the objectives you've set for yourself, when will you break even? F) Marketing Plan - how are you going to get the word out about your services? The MOST effective way to advertise yourself is to your own sphere of influence (people you know). Be sure you do so effectively and systematically. 2) Not Using the Best Possible Closing Team They say the greatest businesspeople surround by themselves with people that are smarter than themselves. It takes a pretty big team in order to close a transaction - Buyer's Agent, Listing Agent, Lender, Insurance Agent, Title Officer, Inspector, Appraiser, and sometimes more! As a Real Estate Agent, you might be in the position to refer your own client to whoever you choose, and you should make sure that anyone you refer in will be an asset to the transaction, not someone who will bring you more headaches. And the closing team you direct in, or "put your name to, " are there to make a person shine! When they perform well, you get to take part of the credit because you referred all of them into the transaction. The deadliest duo out there is the New Real Estate Agent and New Mortgage Broker. They get together and decide that, through their combined marketing efforts, they can take over the world! They're both focusing on the right component of their business - marketing - but they're doing each other no favors by choosing to give one another business. If you refer in a poor insurance agent, it might cause a minor hiccup in the transaction - you create a simple phone call and a new agent can bind the property in less than one hour. However , because it typically takes at least fourteen days to close a loan, if you use a new lender, the result can be disastrous! You will probably find yourself in a position of "begging for the contract extension, " or worse, being denied a contract extension. Also visit my website ... Estate Agents Croydon