Every week, we ask a real estate professional for their Short List, a collection of tips and recommendations on an essential topic in real estate. This week, we talked with JJ Molaison, the broker associate/manager of Better Homes and Gardens Real Estate Gary Greene Inner Loop office in Houston.
6. Prepare a written business plan. You can’t know where you are going if you don’t have a plan. Your business plan should include monthly, quarterly and annual income goals, as well as forecast and track business expenses (i.e. dues, education, marketing, car & gas). It should include a breakdown of where you expect to get your business from and what percent of your business will come from a particular area or activity. Common sources of business for new agents are your sphere of influence, email campaigns, open houses, FSBO’s, expired listings, or networking groups.
5. Don’t be a secret agent! Remember that it is not the responsibility of others to remember you are available to help them with their real estate needs. You must get in front of people. Join networking groups, host dinner parties, volunteer, be the “welcome wagon” for a new neighbor–it’s a numbers game. The more people you can position yourself in front of, the more chances to develop business opportunities. As you meet new people, add them to a contact management system.
4. Kick start your business with a daily prospecting plan. Find your high energy time of the day and schedule an hour each day to call, email or write everyone you know. A simple phone call to see what someone has been up to is all it takes to get the conversation rolling. Send short hand written follow-up notes after seeing someone. Be consistent. If you are focused on meeting new people each week (see #2) you should have a constant stream of people to keep in touch with.
3. Use social media to keep in touch and expand your sphere. Post an article about a new decorating trend or a cool new app. Be creative and interesting!
2. Find a mentor. Look at the successful agents in your office. Observe what they are doing. Becoming a successful real estate agent is hard work. Listen and learn!
1. I finally got paid!! Now what? Find a good accountant from the get go. I’ve seen too many agents that don’t set aside money to pay taxes and end up getting themselves into sticky situations. Also remember to pull out money for monthly marketing (I recommend 10%) and personal savings or retirement plans.
Better Homes and Gardens Real Estate Gary Greene’s Inner Loop office in Houston is a full service brokerage firm who has always realized that their success would be found in creating exceptional tools and services for their sales force, while providing the very best real estate experience for their clients.