Anyone here a Realtor?

[theddguide]

I've just started down this career path and am curious what you would do differently, if anything, starting out? Do you have a system in which to get listings? I read all about the things to do to get listings and I'm just wowed by the work involved but yet, I look at the veterans in my office and I think there's no way they're doing all this stuff every single day. What gives with getting listings? Or buyers?

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[JBrew]

Not a realtor, but a mortgage broker. Visit your local lending shops. Start a relationship. Use social media to your advantage, also. Advertise until you're blue in the face.

 

[journeyman713]

Not a realtor, but I did stay at a Holiday inn, a while back. In all seriousness, I've bought and sold more than a few houses, and worked with realtors, many times.

If you're looking to make a career out it it, you're going to need to invest in your career. After you get resume in order, the first thing you want to do is, 'Get the Word Out', you are their guy!

Make a postcard of your Business complete with a photo of your Honest Smiling Face! Delivery it to every house in the neighborhood you want to do business in. Repeat, every couple months. Do this for years, word of mouth referrals will take over in time.

 

[Oregonboy]

I would recommend networking groups (not sure how that's going with Covid). I was a part of Business Networking International (BNI) and that helped me get a ton of business (as a commercial banker, not a realtor). You get to meet with other professionals 1x per week, talk shop and they only allow per person per industry, so you would be the only realtor in a group of 20-30 other local business professionals. You can attend chamber of commerce meetings as well but I found those less fruitful. BNI's exists to pass business around. Usually realtors are great referral partners so people will be anxious to get to know you. I think that could be a great investment for you.

 

[kfili]

Another mortgage here- but- don't look at what the vets are doing now- ask what they did when they started. The game changes as time goes on. I'm still pretty new (less than 2 years) so I'mstill doing the things the older guys don't need to anymore, one day it'll be my turn to have business come to me- but for now I gotta go get it- you do too.

 

[ndbwhunter]

Not a realtor, but a mortgage broker. Visit your local lending shops. Start a relationship. Use social media to your advantage, also. Advertise until you're blue in the face.

Not a realtor, but my dad has been in the business for about 40 years. It takes time to develop the relationships that will ultimately lead to less time "working" and more $$$ in your pocket. Advertising and word of mouth will be huge to get your feet wet.

Another thing to consider while starting out would be to get certified as a general appraiser. Way more money going this route once certified. Obviously this may vary from state to state, but good appraisers up here are easily making $300K+ a year and not working all that much. I still regret not doing this when I was younger. Only 38 now, but making the switch now would be tough considering I have a good job and family to support.

 

[svivian]

Commercial/ consumer lender here. I agree with alot of the posts above, networking and joining chambers will help alot. You need to cast a large net and try to get your name out to as many people as possible. You also need to really impress every single client you touch the best you can, first impressions really do matter. Lenders are going to be a mutual relationship.

There are times you are going feel like you are running the show but the lender is the one who makes the deal finish. Respect the processes the lender has to go through to get the job done and don't be an A**. You will learn the good lenders from the bad ones the same as we learn the good realtors from the bad ones.

 

[Glory]

I passed my real estate exams and am waiting for my license here on Prince of Wales. Curious to see what the responses are here. Kinda a side hustle for me in between fishing seasons but have a great broker who obviously wants me to be successful.

 

[riversidejeep]

Not a realtor , I have been in the real estate game for 40 years buying and selling property's. I have a few realtors that are my goto people. The reason that they are my goto is because of their network of contacts. Anybody can be a realtor but it takes knowledge of how to cut through the people with no money, people that need their hand held, tire kickers, how to kiss butt with a big smile to the right folks. The realtor game is not for everyone but when its good , its good. When its bad, your going to be mighty hungry.

 

[Sherman]

Join your local Mason Lodge & Mormon church. I am neither a Freemason or a Mormon but I have friends who are both. Those guys take care of each other, have huge influence in the community, and tend to have tons of disposable income.

 

[Broomd]

...Use social media to your advantage, also. Advertise until you're blue in the face.

Yuck, gross way to exist. No amount of money.

 

[WeiserBucks]

Make a postcard of your Business complete with a photo of your Honest Smiling Face! Delivery it to every house in the neighborhood you want to do business in. Repeat, every couple months. Do this for years, word of mouth referrals will take over in time.

This kind of behavior is why you see NO SOLICITORS signs all over the place.

 

[JBrew]

Yuck, gross way to exist. No amount of money.

I don't disagree, but you've got to get your name and face out there, in that business. Dog eat dog

 

[Broomd]

I don't disagree, but you've got to get your name and face out there, in that business. Dog eat dog

I get that, JB. And there's great money to be made, but it's just a helluva way to grind out a living.
Some really decent folks that are realtors, dropped off jerky yesterday to one. I shot my '21 bull elk on his place.
But there are some real ambulance chasers out there too.

 

[wyosteve]

Also not a realtor, but I would fashion my 'game plan' around the question- Why would someone want to use me as their realtor compared to the other hundreds of realtors out there?

 

[journeyman713]

This kind of behavior is why you see NO SOLICITORS signs all over the place.

Nice point, but no one said anything about knocking on doors.
Thought it was understood, delivery of a postcard is done by mail.

 

[Tesoro]

Been there done that. The only way to 'make it' in the RE biz is via client referrals. And this starts with your first client, when you need to decide whether you are going to tell them what he wants to hear or what he needs to hear. 90% go the 'want to hear' route and thus have to spend all their spare time plastering the community with their mug shots and bothering people.

 

[svivian]

Yuck, gross way to exist. No amount of money.

Totally agree, with that said my good friend is a realtor and he is on track for his 10 year plan. By the time he is 38 he will be completely debt free(home, car, everything) with a large stack of cash in the bank. At that point he plans to only sell a few homes a year to cover his everyday bills and enjoy life. I know a few older realtors who did just the same and are always out doing something fun while I'm in the office....

 

[CorbLand]

My uncle and brother are both real estate agents. They both told me there are three things you need to do to be successful in that industry.
1. Learn your market. Spend time to understand it, what is going on and it’s future.
2. Get your name out there. My uncle spent three to four hours a week making cold calls. There is nothing wrong with advertising.
3. Follow through. If you tell someone you will call them back, call them back, even if it’s to tell them that you haven’t found anything.

 

[Gunnersdad49]

Two of my hunting buddies are very successful realtors. They have different approaches. The first is a part of a large firm, always wears a suit, and is very formal. The second typically wears jeans, boots, and a flannel and drives clients in his pickup.

They both specialize in a specific type of clientele. The first is for rich folks looking for the next McMansion in gated communities. The second focuses on farm and ranch deals and investment properties.

As a realtor, you are starting a business, and that business is you. You need to create a business plan and specifically focus on your strengths, or your competitive advantage. Do you relate well with millionaires that want to know which region of Italy their tile comes from? Do you relate well with first time home buyers with tight budgets?

As an investor, I prefer a lower key approach and an honest realtor that shoots straight about the pros and cons of a property. I use the second guy mentioned above. He knows our state's water rights laws, usage rules, etc inside and out. He also owns his own investment properties and is honest about the trials and successes he has faced himself.

Find a way to relate to the clients and build a bond. If you focus on first time home buyers, give them a housewarming basket at closing, or a sign with their name on it or something. Keep in mind that the ones purchasing a $100,000 first home may be on track to buy more or upgrade in a few years, and they will come back to you and refer their friends.

You might also develop some sort of referral reward like a gift card to a nice restaurant or something to get the word of mouth fountain flowing.