Are new agents really prepared for this business after they pass their exam? Are they informed about how much time and money is vested into the business just in your first year? Do brokerage firms really spend the time training and giving hands on experience in that first year?
Is this business too easy to get into? Should there be more training or requirements for agents to enter? Over the past year I have seen an influx of new agents coming into the business. Heck in the last week I had two different agents showing two different properties that did not notify me there was an issue. One left the lockbox wide open because they could not figure out how to close it. The other thought they locked the front door but did not and the door was wide open when I got there. I can’t imagine a seasoned agent doing such things.
In my opinion this business is way too easy to enter. Taking a 60 credit hour class and followed by a short test should only be the minimum requirements. So how do we as agents and brokerage owners change this? Is there another way that agents can get trained and succeed? I don’t have the ultimate answer, but maybe someone reading this has some further insight.
In no way do I feel they don’t deserve to be agents, or have the opportunity to be successful in this business. However coming into the business with really no knowledge or experience and trying to create an income from nothing is extremely hard. It can take a long time to get your first client and that’s from an agent working extremely hard to get there.
The most successful people I have seen in the business have worked for someone for years prior to going out on their own. To me this is the best training. It is what I did as well. Attending seminars, and watching videos are fine. Listening to speakers and motivating you is also ok. However real world experience is the best way to understand the day-to-day operations of running your own real estate business.
In the past I have heard this line over and over again from both new agents and what I call seasoned agent jumpers. This is the biggest line of them all in real estate. Ready for it…..
“This company is not doing anything for me. The broker only focuses on the agents who make money, and nobody is doing anything to help me.” Another firm promised to give me tons of leads the second I get there.
Both the agent jumper and the newby have the same line. I bet you can think of at least 1 or 2 agents that you know who have jumped from one firm to another and heck even back to the original firm. Nobody did anything for them!
Well I would tell that person you are probably not in the right business and to move on to something else. But they don’t. They become that 1 percent who sits in the meetings and complains. I heard an agent state one time at a meeting that in a room of 50 realtors it only takes 1 negative person to make the entire room negative. I can definitely see that in some cases. Why? I think because it is easier to pick at a problem rather than solve it. Its easy to complain the company is not doing anything for you when your not making money. It is human nature to point blame at someone or something else when personally not succeeding. Everyone does it at one point in there life. It is those who can admit the problem, evaluate the issue, and form a plan to meet their goals and ultimately succeed.
Don’t overanalyze things either. I have experienced this before. No broker should have to sit with anyone for hours formulating some mega plan on how to succeed in this business. This is a business of trial by fire. You need to try numerous approaches with marketing before one works for you. Not everyone can cold call. Not everyone wants to send postcards. Do what works for you which takes time to find.
So what does make a successful agent? Well for starters not complaining. Its all about the can do attitude in this business. That’s typically an entrepreneur’s attitude. No task too big basically.
When I started my company I did not know if I was going to expand out to bringing on agents. However I do feel there are benefits to this. My plan is to take on 5 agents in 2017. That’s all just 5. My goal is to work with them on strategies, online marketing, and give them higher commission structures to help maintain their advertising budget. Placing a percentage back into marketing from every deal they do. Almost forcing a building process. I built my business in one year from the ground up and it over tripled in size in one year. Yes I had 11 years in the business, but that is different than building a new brand and company from scratch.
So I want to share with these agents is how I did it. I am not asking for anything other than hard working agents who want to produce. No desk fees, no transaction fees, no franchise fees. My believe is that if I can help create the success the agent will want to stay and continue to grow. I mean really how is an agent supposed to pay fees to a brokerage company on a monthly basis when they are brand new or not making money. I would never sign up for that as an agent. I don’t care how great a pitch it is.
If you do read this post and you are interested in having a quick chat with me feel free to reach out via email. If not that fine as well. Whether you are licensed in DC, MD, or northern VA. I am happy to speak with you.
Looking forward to working with many of you out in the marketplace this coming spring.