If you’re a successful MN Realtor, you may not often ask why real estate agents fail. If your career has stalled, however, check out these nine tips to help you get back on track.
Don’t Get Complacent
First, we have to warn you to be aware of how your market works. Did you know that 93 percent of real estate deals are done by on seven percent of your colleagues? In other words, you may be one of the large group of agents that are fighting for seven percent of the business. Don’t ever think that times are so good that you will always have enough business, because a bad economy can knock you down in a hurry. To be better positioned for a downturn, and to help you be the best you can be, follow these guidelines:
Back to Basics
You don’t have a “normal” job — you have a lifestyle. It’s all about you, and if prospective clients don’t like you for any reason, they will go elsewhere. Cultivate and develop your personal brand and realize that it’s your job to make clients happy; while you’re in it for the money, that money will flow faster if you put your clients’ needs first.
Remember — this can be one of the greatest careers on earth (just click play below and find out why).
It IS Your Job
So your contract says the clients have to prepare for an open house, and when you get there, you see a mess in the kitchen with a load of dirty dishes. Great Realtors step in and fix the issue without lecturing the client or referring back to the contract. Do whatever it takes to get the job done.
Respect the Big Picture
A string of unclosed deals doesn’t mean you are a failure. If you really want to know why real estate agents fail, one reason is that that they become mired in a few deals that have not closed. Your next listing will turn out better!
You Can’t Cancel
Clients can cancel meetings, but you can’t. Always be where you say you are going to be, and don’t be late. Client-facing time is invaluable, so don’t waste any opportunities.
Don’t Over Promise
A Realtor had a lead on a condo listing. He told the client, “OK, I’ll be there with my maintenance guy and my lead painter. We’ll tell you exactly what you need to do to get your unit ready for sale.” When the Realtor met the client at the property, the agent was alone, and said, “Sorry, my guys were stuck on another job and couldn’t make it.” No client wants to hear the words, Well, what had happened was…” This Realtor instantly lost his credibility.
Learn How Marketing Works Today
You can’t just read an AdWords article and expect to be able to do a proper AdWords campaign. Learn what your Facebook page needs to look like in order to be effective. Do you know what social media really consists of? Do you have an up-to-date website? If you move slowly in a fast-paced world, you’ll quickly find out why real estate agents fail.
Some clients like to talk by phone. Others prefer email. Some like to text. Some use platforms like Slack to instant message. Can you do all of this stuff correctly and efficiently?
Know Your Market
That’s a no-brainer, right? Check this out: You just sold a big suburban home for a wealthy client, but they have a campus-area four-family that they want to get out of. You took the listing, but frankly, you know nothing about that area of town. If you don’t want to be on the list of why real estate agents fail, make sure you do your homework quickly and learn that neighborhood, or you may be a one hit wonder.
All businesses and careers have rough patches. Make sure you can get through bad times by getting back to the basics and ensuring that you are consistent and well-liked by your clients. And remember, just as good times don’t last forever, a period of slower sales will improve if you are diligent.