Residential Real EstateSurviving Your First Year in Real Estate
After emerging herself into a competitive market, where well over a 1000 Realtors swarm over a population of around 70,000, Sue Ellen Drake, NC licensed Broker, Realtor®, with Keller Williams Professionals (Asheville NC) has worked hard to make it to the one year mark in her sales job. Along with keeping some business basics in mind to set a solid foundation in real estate she has also embraced technology as a way to keep the clients coming.
After her first two months in the business, Drake had her first listing at $179,900, which sold after five months on the market. While many rookie agents may go for months until they see success, Drake made sure to use every legal resource available to stay near the top of the food chain.
In getting started, Drake had to make professional contacts, which included three Mortgage Brokers, three Real Estate Attorneys, two land/development experts, and a Bank Loan Officer. She says, "All were eager and anxious to help. You learn by experience who you and your clients can truly rely on for superior information and service."
In addition to using conventional marketing in hardcopy publications, Drake uses the Internet to command her presence in the industry, commenting that, "approximately 90 percent of my demand generation is done via the internet." The Internet is just one method that innovative Realtors like Sue Ellen use to keep up with the changing market. For example, instead of being at risk for violating no-call list rules, she says many prospective clients email her with questions, which she can legally follow-up with a phone call.
With some experience gained and half million dollar properties listed on the market, Drake"s advice to beginners is to "have at least two years of operating income in the bank and available before you embark in real estate as a career." And to remember that "your sphere of influence is significant and should be leveraged." Keep in mind that potential clients should think of you, the agent, at the first mention of real estate. To help with this, create a signature motto that reflects who you are in real estate.
Now that you have strapped yourself in and are ready to shoot for the stars, do not forget that this high-speed journey can be a bumpy ride with many ups and downs. Remember to set the foundation for success early on and consult mentors regularly to help you see success as part of the big picture.