Completing your ProSchools’ real estate education and getting your real estate license is a great achievement! The first several weeks of your real estate career can be over-whelming because there is so much to do!
The following information is provided to ProSchools by Craig Fahner, Principal Broker at the John L Scott Real Estate branch in Clackamas, Oregon. The information is a proven system and details a series of business-generating activities that will not only jump-start your business-building, but will prove useful throughout your entire life as a licensed real estate professional. By following this proven system, you will have your business up and running in no time.
WEEK 1- Building contacts
While there are many things to be done in your first week on the job, generating business is and will always be your primary goal. During your first week as a new real estate agent, focus your efforts on the following activities:
- CRM: Collect data for your Client Relationship Management (CRM) Campaign. Start by making a list of the people you know personally, professionally; those who live close and those who live far away. Make a list of your contacts’ name, phone numbers(s), email address, mailing address and other pertinent information such as names of children and birthdates. This is known as your “sphere of influence”.
- Announcements: Now that you have organized your list of contacts, let the world know you are now a licensed real estate agent looking for business and referrals. Mail or email an announcement out to 25 people at a time to allow yourself enough time to follow-up.
- Follow-up: Within two to three days of sending out your announcement, follow up by calling 25 people per day or 100 people a week until you’ve contacted everyone on your list. It’s imperative to follow-up on your mailing, as people will be more likely to remember you if you contact them soon after you send your mailing.
- Shadowing: Get experience out in the field by job shadowing an experienced agent from your office on a listing appointment, a buyer consult, showing appointment and an open house. Ask your broker how.
- Open houses: Schedule at least one open house to co-host or hold yourself. Visit open houses to see what works and what doesn’t.
- Market knowledge: Preview at least three listed homes and get to know your market.
WEEK 2 – Prospecting
The key to building a successful real estate career is consistent and steady prospecting. Statistics show that it can take 50 contacts before finding an actual lead. The more you prospect, the more business you’ll have. This week, you will build on what you did in your first week:
- Follow-up: Schedule time to continue contacting 25 people per day or 100 people a week until you’ve contacted everyone on your list.
- Open house: Schedule at least one or two open houses for the upcoming weekend.
- Circle marketing: Conduct a “Tell-20” or Circle Market around the open house. One for two days prior to your open house, knock on 20 doors in the neighborhood and deliver a flyer on the home with your name and contact info on it.
- Pre-listing: Put together a pre-listing packet. Your office coach can help with this.
- Goal Setting: Determine how many transactions you would like to close this year to meet your income goals. Talk to your broker about setting up a business plan.
WEEK 3 – Build Momentum
The activities from the first two weeks are ongoing throughout the life of your real estate career. In building on your skills, follow these tasks for your third week of being a real estate professional:
- Confidence: Many new agents are afraid of getting a “Yes” to an appointment and then be told “No thank you” at the end of the appointment. Keep moving forward and you will build your confidence as you go.
- CRM campaign: Plan how many times you will be contacting your sphere of influence in the upcoming year. Make a plan to create and mail your materials and stick to your deadlines. Continue to update your CRM database as you build your business.
- Learn: Learn as much as you can with office and company training. Take some online courses with ProSchools (plus you’ll get continuing education credit)!
- Accountability: Join an accountability group in your office.
- Open house: Continue with your open house initiatives and your circle marketing.
- Listing calls: Call 25 people who live around a new listing. Send a follow-up thank you card.
- Warm calls: Call 100 more people from your CRM list this week about real estate. Keep in mind how many transactions you would like to close this year to meet your income goals.
WEEK 4 – Develop Good Habits
In the first few weeks, you are learning what brings business in and what doesn’t. This week, you will continue to focus on prospecting and learn other good habits.
- Vacation: Now is a good time to plan your vacation time for the year. Decide if you want to take a few days here and there or get away for a week at a time.
- Network: Join a business networking group like the Chamber of Commerce or an organization which allows you to become immersed in your local professional community.
- Market knowledge: Learn your local market statistics. Research this year’s and last year’s current average sales price, number of listings on the market and average number of days homes are on the market in your area. By having information at your fingertips, you will gain confidence and client respect.
- Learn from others: Take a top producing agent out for lunch or coffee and ask what they consider the five most important tips for a successful real estate career. Be respectful of the agent’s time and expertise when asking for advice.
- Develop a Niche: Explore your strengths and use your creativity to keep business coming in the door. You will find your own unique way of prospecting and areas of interest where you can become an expert.
- Practice: Practice filling out listing and sales agreements and have your broker or coach check them. Hone your skills so this is not an obstacle to you. Practice your dialogue and become a better communicator. This always leads to more business. Ask your managing broker for a sample of dialogues for market-tested ideas.
This information is presented by Craig Fahner, Principal Broker, John L Scott Real Estate, Clackamas, Oregon. Ph# 503-653-9720. www.johnlscott.com/craigfa. If you are in the Portland, Oregon metro area and are looking for a good managing principal broker, make sure to talk to Craig.
For live webinars and broker fair events in the Portland, Oregon area, visit our website and get information on the latest ProSchools’ events.