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Success in Real Estate – Tips For New Agents

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Want to succeed as a Real Estate Agent? Read My Words…Listings are the name of the game!

I am often asked by new real estate agents “What is the secret to success in Real Estate?” If you ask this same question to all the senior and very successful real estate agents and brokers in the Bahamas, they will all agree that good marketable listings are the key to climbing the proverbial corporate ladder in real estate.  There is no secret that the real estate agents with the most listings priced according to today’s market wins!

Listings are worth more to you than you realize. They are equivalent to your salary and money in the bank, so you must be capable of winning the MLS listing contract every time!  Winning your listings takes practice and you must strive to become the best presenter you can possibly be because listings are the name of the game.

Most agents who are not interested in working with sellers will seldom have good listings to sell and most likely will find themselves quickly out of business blaming the economy or the broker they work under for their failure.   It is not uncommon for these agents to have a track record of jumping from company to company in a short period of time chasing the impossible dream of an easy career.  We all know that an agent with very few listings gets much fewer buyer leads and calls.

In order to obtain listings you must be bold, with a great sales personality and be ready to unashamedly prospect to total strangers.

 Real Estate for Dummies explains it in very simple words:

“Prospecting for real estate buyers and sellers requires positive expectations. It requires a positive-results mindset, in part to overcome the influences of all the other agents who don’t prospect, don’t value prospecting, and stand by to negatively influence your vision and expectation of success.

Merriam-Webster defines prospecting as “seeking a potential customer; seeking with a vision of success.” Notice that nothing in that definition deals with waiting or hoping. Starting with the word “seeking,” the definition revolves around action being taken by the salesperson. In its most basic sense, prospecting involves finding people to do business with.

Take a look at the following table to get an idea of which agent activities are considered prospecting and which aren’t.  These prospective activities must be done in a consistent manner everyday on a regular basis or will have no impact in your career.

What Prospecting Is

       What Prospecting Isn’t

Calling past clients

Mailing magnets, calendars, and other trinkets

Calling people in your sphere of influence

Setting up a website

Calling expired listings

Joining service organizations

Calling FSBOs

Wearing your name badge

Cold calling for listings and sales

Placing magnetic signs on your car

Knocking on doors

Sponsoring a community sports team

Hosting open houses

Doing floor time

Calling absentee owners

Answering e-mails

Cold calling from lists of names

Pinning your business card on bulletin boards

If you are in the process of starting your real estate career, I have news for you, while web-sites, ads, signs etc. will definitely help in marketing a property, I can assure you it will not be enough to make a sale.  Statistics show that the number one way you can grow your career is by simply getting referrals. Your close friends, family, and past clients will help you establish your business and career through recommendations.

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