5 Mistakes First Time Agents Make When Beginning Their Careers | Highland Beach Real Estate

5 major mistakes new realtors make

The cautionary tales we've observed from young and sometimes erstwhile agents are unfortunate, but should never be an impetus to leave the profession. Rather, like the mistakes of any forebears in any pursuit, the onus is on us to learn from them and work to smoothen these potential pitfalls in the future of our practice, no matter how likely or inevitable they are. Today's Highland Beach Real Estate blog will cover some of these stories, and show what went wrong, and how to work around these potential errors that could shake up the early trajectory of your career.

cup of coffee with "backup plan" written on a post it

Rushing In Without A Backup Plan

As much as we advocate for young professionals to make bold decisions grounded in self-confidence, many factors impact the bottom line of a Realtor's body of work that may not be within the agent's influence. As with any major transition, be it a long-distance move, educational pursuit, or career transition, it's always best to have a backup plan to supplement your income if your real estate career needs more time to nurture and grow. This is almost always the case with young Realtors starting, who will often slowly slide away from their "day job" as their career in real estate picks up.

graphic showing the concept of instant success

Expecting Instant Success

There's always the slim potential that a new agent will capture lightning in a bottle, but this rarely comes without some fast-tracked connection from someone in the industry - whether that's as a young agent tagging along with a highly successful mentor or luck just falling into their lap. In most cases, despite the gambit of real estate - that one commission could be the equivalent of a year's salary for a terrific job, this is not something to depend on. Often that big sale or major success comes on the heels of struggle, hard work, getting yourself out there, and building a backlog of past transactions and 5-star reviews.

small jar of change with "budget" written in masking tape

Not Budgeting For Business Expenses

Real estate might not have the overhead of starting your own business, and you're highly unlikely to need to pay anyone else in the early days of your career, but there are plenty of ways your pocket will be hit in the pursuit of your career. Thankfully, for Champagne & Parisi agents, many of these upfront costs and fees are absorbed or waived by the brokerage. For the majority of agents, however, they must consider the cost of their vehicle, gas, computer, office supplies, business cards, and promotional materials, among a slew of other expenses that can add up quickly and eat up your first commission. Be ready to withstand these upfront costs and begin profiting right away with a firm grasp on the costs of doing business.

meter showing "poor" UX experience with agent's marketing

Haphazard Marketing

Marketing is more than throwing spaghetti at a wall and seeing what sticks. In today's digitized era, there are more ways to focus and refine the way you reach your potential clients than ever. What was once a business largely built on physical media such as billboards, bus stations, and printouts is now blended with digital content such as social media and Google advertising. As a Realtor, you're not expected to be the foremost marketing expert from day one, but with so much information out there, specifically targeting real estate, a few days on YouTube and a few blogs might be all you need to start and stay focused. Don't be afraid to experiment, of course, but have a plan and learn from the results.

wooden cubes that say "offline"

No Online Presence

A lack of an online presence is a bigger issue with older agents transitioning from a longtime career, or for agents who have been entrenched in the industry for so long that they've thrived without it. As millennials continue to edge their way into the most prominent home-buying demographic, the need for a social media presence becomes more relevant with each passing day. For younger buyers and sellers, a robust social media presence is a major plus. Even if you're not posting every day and focusing in on your social media marketing efforts, having no presence at all is, at this point, a red flag. Having no online presence is a source of mistrust in younger buyers, regardless of your good intentions.

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