There are thousands of agents in your state. Most of them make $40,000 or less per year. But a small percentage bring home six- and seven-figure annual salaries. What separates the latter group of agents from the pack? In most cases, the difference is razor thin. It has little to do with experience and almost everything to do with positioning yourself as the most attractive option for buyers and sellers in your market.
Want to learn more about how to become a world-class real estate agent? Here are several of our top tips:
- Take Your Real Estate Education Seriously
Most advisors see real estate education as just another box to check off in order to keep a valid license. However, it’s much more than this. And if you actually take these courses seriously, you’ll find yourself in a much better position.
It all starts with the real estate salespersons course. Find a good real estate school that’s specifically designed for your state. For example, if you’re in Pennsylvania, you want a Pennsylvania real estate license course.
Once you get your license, you’ll need to take continuing education courses on an ongoing basis. While most agents choose the courses they think will be easiest, we recommend selecting ones that address your biggest knowledge gaps or areas of weakness. This is how you grow as an agent.
- Find the Right Broker to Hang Your License
As soon as you pass your exam, you’ll get dozens of letters, emails, and phone calls from brokers who want you to hang your license with them. Make sure you’re discerning in which brokers you entertain (and, most importantly, the one you ultimately select).
Look beyond commission structures and payouts. While these things matter, you also want to work with someone who is going to take you under their wing and help you get started. A good broker will serve as an asset for you. They might even cut you in on some deals early on so that you can get a little experience.
- Make Sacrifices Today
There’s a temptation to want to start at the top. But when you’re a new agent, you can’t expect to get the same opportunities or treatment as someone who has done hundreds of deals. Be willing to humble yourself and make short-term sacrifices today in order to enjoy long-term gains down the road. This might look like bringing another agent into your first deal and sharing the commission in order to learn how they approach certain situations.
- Always Be Networking
You aren’t going to get much traction if you’re relying on paid ads, cold calling, and other similar methods. The most successful agents get all of their business via networking. In fact, real estate agent coach Devin Doherty has found that 80 percent of deals come in because an agent knows someone. It’s absolutely a referral-based business.
Networking isn’t something you turn on and off. You don’t attend a real estate conference once a year and count that as networking. You have to be committed to networking anywhere and everywhere. This includes professional events and open houses, as well as when you’re waiting in the carpool line to pick your kids up from school.
- Build Credibility and Authority
One of the best ways to set yourself apart from other agents is by enhancing your authority via third-party credibility. This can be done by guest blogging on industry publications, being an interviewed guest on podcasts, or even appearing on local news segments. Not only does this give you direct visibility, but it also allows you to include various media logos and mentions in your social media profiles and on your website.
Set Yourself Apart
What sets you apart from the other agents in your market? If you’re having a hard time putting your finger on something quantifiable, then there’s a pretty good chance that you’re just another small fish in a big pond.
In order to be successful, you have to work hard in all of the little areas. This means taking your real estate education seriously, finding a good broker to hang your license with, making short-term sacrifices for long-term gain, constantly networking, building up your authority, and being available at all times.
Do these things well and you’ll fly past your peers. That’s a guarantee!
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