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The first few years of work inevitably become the most challenging for novice real estate agents. Attracting attention is no easy task, especially when almost all the responsibility falls on the shoulders of one agent (and a rookie at that). Usually, understanding all the nuances comes only after stumbling upon several errors. We have compiled the top 5 common mistakes of a novice realtor. Read on to avoid them in your practice.
Mistake #1: Poor Presentation of the Property
Arguably, one of the biggest mistakes is the lack of high-quality photos and videos.It is crucial to enlist the services of professional real estate photographers who can showcase the property in the best light.Common issues in photos include disorder in the apartment, unwashed windows, and poor lighting. All these details can completely discourage further consideration of the listing. Attractive visuals, complemented by videos and well-written text, are the keys to success for any real estate listing.
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Mistake #2: Describing the Property with Generic Phrases
We all enjoy attention, especially when we are paying for it. Real estate experts often share similar information about properties, leading to the development of a “standard text” over time. Upon hearing “generic” phrases, clients lose interest and scroll past. Realtors should put themselves in the shoes of potential buyers.
What would be interesting to them? How do you envision effective communication? All clients dream of an attentive realtor who won’t repeat commonly available information for the hundredth time but willexplain in a simple and understandable language all the advantages of the property.
Mistake #3: Not Utilizing the Services of Professionals in Related Fields
For a deal to be completed successfully, in addition to a realtor, a creditor, insurance agent, appraiser, inspector, stager, photographer, and other specialists are needed. Realtors can choose experts to assist in the buying and selling process.A good team is a double win.
Specialists often provide insights into matters beyond their direct duties if they spot any mistakes. It is in their interest for the deal to go smoothly and for the collaboration to continue as long as possible.
Mistake #4: Reluctance to Invest in Marketing
Realtor activity should not be perceived as working for someone else, as your earnings depend on the number of successful deals. Agents often hesitate to invest in marketing, having just paid over $2000 for their license and fees (or spent on something else).
A successful professional will tell you that your earnings always depend on marketing expenses.Choosing a good agency may eliminate a lack of leads. However, you need to initially, continuously, and consistently work on your personal campaign to stand out among other agents. The simplest solution is “Social Media Packaging.” Create your own personal brand.
Mistake #5: Not Knowing How to Choose an Agency
Novices often choose an agency based on the wrong principles: reputation, high percentages, proximity to home, etc. These criteria are important and suitable for choosing a workplace, but they are unlikely to turn a novice into a high-class professional. If the sole reason for choosing a company is “They pay the highest percentages in town,” then confidently look for another agency.
The key rule: 100% of $0 equals $0. Always think that you are starting a business, not just getting a job. The mostimportant thing is the perks offered by the agency to a newly minted realtor. Is there a training program? What is the average selling price of a property? Does the agency support self-promotion by agents? Do not focus solely on percentages and the company’s prestige; the main thing is personal development.
Starting a career in real estate is always challenging but interesting. The field provides limitless opportunities for development. Few withstand the competition without making mistakes. However, if you learn from others’ experiences and strive for self-improvement, everything will work out.