| Author: Leanne Hoagland-Smith |
With over 2 million real estate agents according to the National Association of Realtors (NAR), becoming a successful real estate agent takes more than just a license and a knowledge of current laws and regulations.The first year drop out range estimated to be from 40% to 80% demonstrates that many real estate agents are not as successful as they could be and research suggests that 90% give up after 3 years. The following 7 tips may help you avoid becoming one of these statistics. - First and Foremost YOU are a business. Real estate agents work for a broker, but are independent, commissioned sales people. This means that you are a small business and must run your practice as a business. Again, remember you are a small business owner.
- Embrace a Planning Attitude If you dont have a plan, then you are on some elses plan usually the successful real estate agent's. During the last 10 years, what I have learned as a performance improvement consultant or coach is that most people place more value in planning a trip to the grocery store or a vacation than planning their lives either professionally or personally.
- Research Your Market Plan Since you, as the real estate agent, are responsible for your own expenses, do your research specific to your marketing plan within your strategic plan. Time spent in constructing your marketing plan is definitely well spent. NOTE: Remember a business plan usually is data driven, while a strategic plan identifies who does what by when.
- Establish Sales Goals Using your strategic plan, establish sales goals. If you are new to this industry, it may take 6 months before the first sale. HINT: Use the W.H.Y. S.M.A.R.T. criteria for goal setting.
- Create a Financial Budget Budgeting is critical given the up and down of this volatile market place. Your financial budget should plan for your marketing costs, any additional costs such as education and your forecasted income.
- Make Managing Yourself a Priority Building a business is not easy. You must learn how to manage yourself especially in the area of time management, ongoing real estate training (continuing education units) and personal life balance. Real estate is said to be a 24/7 business much like any small business. However, it is important not to lose sight of your personal life including family, friends, physical health, etc.
- Find a Mentor or a Real Estate Coach Going it alone is not easy. Take the time to find a mentor who can help you steer through some of the known obstacles and help you during the peaks and valleys. If you have the resources, you may wish to hire a real estate coach or an executive coach who specializes in small business help and sales.
Being an incredible sales person and entering the real estate market does not guarantee similar sales success. However, these 7 tips may help you avoid many of the pitfalls by not being one of the four real estate agents who quit within one year or one of the nine who give up after 3 years. |
Author Bio:
Leanne Hoagland-Smith
Good Day. Thanks for visiting. I hope that you have enjoyed my articles. In 1999, I founded ADVANCED SYSTEMS because I saw that performance could and should be doubled in warp time. Individuals, small and large businesses could not afford expensive solutions that may or may not deliver improved results in 12 months.
From my corporate, small business and education experiences, I recognized the individuals must have opportunities for connecting their passion to their purpose to secure the desired performance results, but many lacked the necessary skills, strategies and tools.
With over 20 years in sales management and 10 years in education, I understand how to unite productivity with profitability by developing a proactive working culture. My previous experiences resulted in cost savings through one of the first implementations of a computer software in a wholesaler distributor to the creation of a vendor performance assessment.
Since facilitating over 500 sessions, developing and editing over 25 training programs and writing numerous articles focusing on performance improvement, I bring a results focused approach to my clients. Also, I am proud to be one of the first five nationally certified facilitators of America’s Rising Stars (a Student Leadership developmental curriculum).
My passion is to help others connect their passion to their purpose to double performance. As The small business coach in Chicago, my clients have easily doubled their performance. Since our greatest resource is our young people, I am now working with large urban schools to generate the same results.
Education Background
- Graduated with honors from Purdue University with a B.A. in Education
- Earned M.S. from Purdue University in Instructional Design and Curriculum
- Published in the national trade journal, The Supply House Times, and numerous national newsletters
- Developed seminars and training on diversity, communication, leadership, sales, effective trade show behavior, networking, knowledge management, goal setting and improved educational outcomes
- Co-authored M.A.G.I.C.A.L. Potential: 7 Capicities for Living an Amazing Life Beyond Purpose to Achievement, to be available in 2006
- Working a another book focusing on performance in public education
- Speaker in a national bureau - Resource Associates Corporation
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