Updater

By Jenna Weinerman

Published Nov 13, 2014

Updated Dec 21, 2023

It’s your first day as a freshly-minted real estate agent. You’ve taken the prerequisite courses, passed the licensing exams, and joined the top brokerage in town. After investing a whole lot of time and money into your new career, you’re ready for those commission checks to start rolling in. The only problem – you don’t have a single lead.

This is a small speedbump on your way to real estate domination. Use these five tips, and soon you’ll be passing off listings to the next batch of rookie agents.

1. Network Within Your Personal Sphere

Becoming a real estate agent is similar to starting a business. And like many new businesses, you have to rely on your personal network to help you break into the market. Start by creating a database of everyone you deal with on a daily basis. Family, friends, fellow PTA members — the more people you add to your list, the better. Give these folks a “warm call” to let them know that you’re now in business, and open to new clients. Someone’s brother, mother, or friend will likely be looking to sell their home, and you’ve just landed your first listing.

2. Work Every Floor Duty Available

Working the floor is indispensable for learning the ropes and drumming up new business. This is your opportunity to convert callers and walk-ins into prospective clients. Be friendly, approachable, and helpful as you answer questions and freely give any information that you can. Your ability to provide useful resources will demonstrate your market expertise and enhance your credibility with the potential client. This means that you must be able to carry on an intelligent conversation about your market, which leads us to our third tip.

3. Become An Expert In Your Territory

In order to convince potential clients that you’re an expert in your market, you have to be an expert in your market. Expertise comes with time, but you can start by zeroing in on your assigned territory. Cultivate strong relationships with your community, always keeping your lead database fresh with new contacts. Learn everything there is to know about property prices, sales history, and demographics in your area before spreading yourself thin.

4. Establish An Online Presence

Building an online presence doesn’t happen overnight, and if you’re not careful, it can do more harm than good. Before you set up a shoddy website and start shouting into the social abyss, establish your business goals and map out the online tactics you’ll use to achieve them. For many, this starts with joining an online community like ActiveRain or Inman where you can network with veteran agents and see what strategies work for them. After researching best practices, you’re ready to build an exceptional website and begin experimenting with different social networks.

5. Find A Trusted Mentor

This is an essential tip for newcomers in the real estate business. Although a mentor may not help you get listings, they will certainly help you keep them. A mentor is an experienced agent, usually from your office, who can help you understand your territory and guide you through the complex listing process. From helping you prepare for client meetings to demonstrating how to properly file paperwork, mentors are there to guide you through your first client interactions.

The first few months in the real estate business can be frustrating, but don’t lose hope. The more you put yourself out there online and in-person, the more opportunities you’ll have to build your listings and your business.

Jenna Weinerman

Jenna is Updater’s Head of Marketing and a published ReloTech expert. She’s an endless seeker of knowledge, a lover of craft brews, and a huge Philadelphia sports fan. Follow her on Twitter here.