Every week, we ask a real estate professional for their Short List, a collection of tips and recommendations on an essential topic in real estate. This week, we talked Stephanie Hill, an agent with the Stanley Team of Coldwell Banker Intown and cast member of season two of “Selling it in the ATL,” for her strategies on how new agents can succeed.
6. Find the Right Real Estate Company – You should consider the following:
- Location: Determine a convenient location. How long will the commute take to drive to your office?
- Facilities: You will meet clients at the office before showing properties; ask yourself if you feel proud or embarrassed to bring clients there. Ask yourself – is there adequate workspace, computers, a copier and a fax machine? What are the office hours? How is the parking?
- Training: There are many real estate principles to learn during your pre-license training. You’ll need guidance, and will need to learn how to write purchase agreements, how to list a property for sale, how to finance a real estate property. You must learn negotiating skills and sales techniques.
- Administrative Support: Some offices handle marketing branding, transaction paperwork and listing uploads. Ask what is supported in each transaction. You will need a strong support team assisting you.
- Culture: Some offices can lack energy but feel stable, while others may feel populated and ultra-energized. You will need to ask yourself, “Is this the right atmosphere for me?” I would suggest calling a couple of agents who work there, and you may get further information regarding the company.
- Specialties: You will find opportunities to specialize in land, leasing, property management, commercial, industrial real estate or recreational property sales. Many brokerages will allow you to work in different specialties. Ask your prospective brokerage if there are any additional options available for you.
5. Create a Business Plan – Create a summary that sums up your goals. Focus on attributes you offer in the real estate profession and to your clients:
- Create a budget. This should include personal and business expenses. You will need to configure the gross income required to start your business. Prepare a financial statement that includes expenses, cash on hand and liabilities.
- Create a marketing calendar. Strategize how you will implement them. Outline your daily day-to-day activities. I would suggest adding an appendix for documents or material to include in the business plan, such as a copy of your real estate license brochures and other materials.
4. Find an Experience Real Estate Mentor – Find a company that offers team leaders and experienced agent support. Most agents would be delighted to assist. Talk to your brokerage about obtaining a mentor.
3. Embrace Education, Get Additional Training – Most brokerage companies offer training courses weekly or monthly. Take as many classes as you can to keep current on new trends and data. Classes usually consist of FMLS, MLS and transaction policies.
2. Socialize and Network – Always be prepared. Keep your name badge, business cards, brochures and cards of others (such as mortgage companies) with you all times.
The more you know about them, the better you can serve them. Listen and ask questions. You will learn a lot. Be a card taker. Do not try to close a deal. Networking is about developing relationships, not selling to others.
1. Find New Clients – Many agents start with family and friends but don’t stop there; remember that people like your hairdresser, yoga instructor and workout trainer probably have seen you multiple times. It’s a lot easier to do business with people you are familiar with. Be active in your community and attend local community associations – and don’t forget to ask people you meet along the way for their contact information.
Stephanie Hill is an agent with the Stanley Team of Coldwell Banker Intown, and a cast member of season two of “Selling it in the ATL.” A native of Ann Arbor, Stephanie attended Eastern Michigan University, where she received a bachelor of science in psychology and communications and later, her Masters of Business Administration. After selling luxury new construction in the Los Angeles area, Stephanie relocated to Metro Atlanta, where she specializes in Buckhead, Vinings, Smyrna, Sandy Springs, Roswell, Johns Creek, Milton and Alpharetta.