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 spoke with Shaina Perry, a Realtor with Nest Seekers International, shares her tips for new real estate agents.
4. Be ready for the long haul. I’ve had several friends contact me looking to get into real estate because they think it is fast and easy money. Remember that every major city in the U.S. has hundreds of freshly minted agents converging on the city every year. The new agents enter the field and have to compete with the successful agents in the area. Success will not happen over night. You must be prepared to withstand 6 months or more (overhead and living expenses) before your first sale. You will also need to learn to love door knocking, cold calling and sending mailers.
3. Always be available for your clients. I always hear people complaining about not being able to get ahold of their agent. Buying or selling a home can be stressful and your client wants to know that they have your support through the whole transaction. Neglecting your client is a best way to lose them as a client.
2. Some clients can be demanding, but it is your job to be understanding. Compile a list of vendors (cleaning services, Interior designers, chefs, painters, etc.) to refer your clients to if they ask you for help. If your client knows you will help them make the transition into their new home as easy as possible, you will have a client for life!
1. Stick to what you know. I chose to specialize in luxury residential real estate. Within the first five months of my real estate career, I was referred a client searching for a $40,000,000 – $80,000,000 retail center for a 1031 exchange. While I would have loved the full commission from that deal, I realized that I did not have the knowledge nor resources to handle a commercial deal in that price range. I sought out a successful commercial real estate agent to refer my client to and settled with earning 25% of the commission. You will want to take every deal given to you but in the end you need to do what is best for your client.
A Houston native, Shaina Perry currently operates our of Beverly Hills, where she works as a Realtor on Ryan Serhant’s Los Angeles team, of “Million Dollar Listing: NYC” fame. Shaina is involved with deals across the country with national and international clients. Shaina’s attention to detail and her ability to understand wants and needs is recognized by both clients and colleagues alike.