As with any profession, being a Realtor comes with its own challenges and rewards. So it is natural for new Real Estate agents to have so many questions. It is because they face so many challenges.
In this post, I want to state out 8 of the most common problems new Realtors face and how these problems can be solved. I would love to know your thoughts, so please use the comments section to ask questions and make additions.
1. Learning New Technologies and Platforms Could Be Daunting.
If you are not interested in learning new technologies, you might find yourself swimming against the tide. The old method of cold calling, door knocking, seeking expireds, distributing flyers and other similar methods need to be used together with new means of getting sales.
As a new Agent, you would probably get introduced to entirely new platforms and technologies. This is especially true when new media are involved. For instance, you might need to master email marketing and Social Media alongside whatever you currently do. These in themselves need some practice in order to be done right.
2. Updating The Status Of A Property Across Various Platforms Could Be A Nightmare
The truth is that buyers have various options and they consult various portals to check out information about a particular listing before they make buying decisions. When the details about a property are not uniform on all platforms, your marketing might get hampered, big time.
The problem is that it is not easy to keep updating the status of one listing across multiple platforms, let alone five or ten listings. Another issue is that some portals don’t get updated as quickly as they should.
There are new methods that don’t require you to update listings across multiple sites. Check out this case study to find out the simple process we used for one of our clients and that got her 18 sales in less than 90 days.
3. It Could Be Difficult To Choose The Right Brokerages
When you are just starting out as a Realtor, you will probably get overwhelmed by all the information you will come across, especially from the big players. A lot of them might quote amazing numbers, while concealing the fact that these results are gotten by just a few of their outstanding agents. You never get to hear of realistic results that new and average agents get.
It could also be difficult to recognize brokers that have great training programs. Having the right type of training is essential to your success as a Realtor, so if you get fed the wrong type of information right from the start, you will definitely find it difficult to get it right afterwards.
To find out the new type of information that is blowing up Realtor’s sales, check out this page.
4. It’s Difficult To Get The First Few Sales & More Difficult To Get Consistent Results
As a new Real Estate Agent, you are virtually unknown in the space and you’re competing against established agents and brokerages. You have to be phenomenal in your marketing or you have to offer something awesome before you can get those first few sales.
Even after getting the first few sales under your belt, you will notice that it is easier to get the first couple of sales that to keep getting these sales on a consistent basis. There are times you could get five sales in a single month and then get none for the next two months afterwards.
One of the things that can help you is if you put a system in place. This system would help you track your results and based on this, you will be able to predict your results. For instance, we found out that for every $49 one of our clients spent, she brought in $2,916 in income. Over time, this remained true. It all starts with knowing your numbers. You can check out her case study.
5. The Number (And Amount) of Fees You Will Pay Might Be Shocking
You shouldn’t be surprised if I told you that brokers all over charge fees, including hidden fees. You might have to worry about paying membership fees, you might have to pay for signs to be put on open houses. If you are not careful, some of these charges could wipe off every single dime you made in sales. So, you should find out well about a broker before you decide to join them.
Apart from the fact that brokers charge you fees, you will also have to make some purchases on your own. As a Real Estate agent, you are in essence, a private contractor, you will also have startup costs. It is generally believed that Realtors have to work a couple of years before they begin to make profit.
Our case is different, thanks to our innovative strategies. On average our clients make sales and become profitable within a few weeks or months, they don’t have to wait 2-3 years before they make profits. You can see some of them here.
6. Knowing How To Negotiate Could Be Tricky
When you’re just starting out, it could be tricky to know how to negotiate. Some questions readily come to mind…
- How much commission should you charge a client?
- How much should be the listing price?
- Should I accept An Offer That’s a bit lower than the listing price?
These questions are tricky because each situation is unique. The art of negotiation is something you master over time. So, find out as much as possible from other Real Estate agents. Find out how much they charge and start with something similar. Based on your results, you will discover if lowering or even upping your charges would be the better option.
7. Some Customers (And Agents) Could Be Difficult To Work With
We are all human and you could be stepping on toes by coming into this new profession. Some people might feel you’re encroaching on their space and may be unreasonably hostile or just plain silly. That’s for agents.
Now you might come across potential buyers who would offer to buy homes at ridiculously cheap prices or you could have sellers who are unrealistic in the valuation of their property. These are very few of the people-related problems you might have to deal with. So, be well prepared.
8. Starting Out Is Simply Scary
Except you are used to taking on new terrain or you are accustomed to figuring things out on your own, you will most likely be scared when you are just starting out as a Realtor. And even when you have guts and want to start out on your own, you could be in for some very serious lessons. Sometimes, the cheapest options come with the most expensive lessons.
I have seen so many agents (a lot of them new agents) who have achieved phenomenal results within weeks and months. They don’t have to wait for years before they achieve this feat. This is due to our innovative approach to marketing. To find out for FREE, check out this page.
Also, if you have questions or contributions, let me know you thoughts in the Comments section below. I’m waiting to hear from you. And please share this post so that others could learn also. Thanks.