avoid business mistakesWhen new agents emerge into the big wide world of real estate, it’s natural to anticipate some mistakes whilst they learn the ropes. Armed with bags of energy and enthusiasm, they’re usually pumping and ready to go – but there’s a few practical elements of the role that can only be picked up through wisdom and experience.

If you’ve recently hired entry-level real estate agents, you’ll probably identify with some of the common themes below. Today’s post isn’t about finger pointing. It’s about identifying where there are lessons to be learnt – even for the veterans amongst us!

Here are some of the ways we can all learn from the new guys:

Master the art of time management

In the real estate business, time management is key to maintaining a healthy flow of prospects and sales. Mastering the art of time management isn’t something that only that new agents need to learn. It’s something that needs ongoing practice and perfection.

Juggling your calendar appointments, internal meetings, prospecting and inspections isn’t an easy task. But of course good time management isn’t just about sticking to the clock – it’s about managing the quality of time you spend on tasks too. If you haven’t already, you might want to consider these tips:

  • Go on shut-down one day a week – Unwinding and recharging is critical to ensuring you’re on top form throughout the working week. Make sure you take the day off. Taking the day off should ideally eliminate the ability for others to contact you. Turn off your work smartphone, iPad, email and social networks and enjoy personal time with your family and friends. For real estate agents, Sunday is of course the natural day for this.
  • Increase your intensity to increase your productivity – Set goals and deadlines that don’t allow any space, options or ‘buffers’ for procrastination. If you know that there are a set number of tasks you need to complete in a given timeframe, block out any distractions and get stuck into the task at hand.
  • Never add hours to your working week – This will only allow room for procrastination and less productivity. The more time you give yourself to complete tasks, the slower you’ll work. Most of us work highly efficiently when under pressure.

Use the right armour

New real estate agents often are ill-equipped to successfully run their own business. Just like a builder needs the right tools to plaster the wall, a real estate agent’s arsenal will help them kick some serious goals. Here are a few basic things you may want to incorporate into daily life:

  • A good contact management system: This is a crucial part of nurturing your client base and building a solid sales pipeline. Customer relationship management software such as Sage ACT!, Goldmine and Salesforce can automate your client records, sales and much more.
  • The latest technology: As with most businesses, it can be highly beneficial to gain easy PC access on-the-go. Investing in tablets for example, could save your agency many manpower hours.
  • Solid social media presence: A Facebook page and other social media accounts can help you build an online profile and sphere of influence. It will also help to market yourself as the local real estate expert.
  • A quality company website: More than 91 per cent of buyers use the internet to search for properties, so having your own personal website will greatly assist you in making leads and leaving an impact in cyberspace.

Never stop learning and developing

Of course the learning curve for new real estate agents is much steeper than those who’ve been in the business for many years.  But the reality is, the landscape is constantly evolving, therefore keeping abreast of the property market, technological advancements and new marketing techniques should be a priority for you and your team.

For more tips and advice on running an optimum real estate agency, keep checking our blog. We cover everything from practical business advice, marketing ideas and cash flow tips too.

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About 

Justin Steer is a real estate finance expert with nearly 20 years’ experience running businesses involved in the sale and management of both residential and commercial property. All content written in these blogs is by Justin, who is passionate about sharing his knowledge and insights in helping real estate agents create the financial freedom to grow.

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