All posts by Shannon

Content & SEO, Easy Agent Pro Blog, Lead Generation, Promotion

How to build a real estate vendor referral service

Value. It’s the hottest trend in the real estate industry. Although the practice isn’t exactly new, the labels “value-added” and “value proposition” are concepts unheard of in the industry in decades past.

For the new agent, “Value-added is the additional features or economic value that a company adds to its products and services before offering them to customers,” according to Investopedia.com.

An example of this would be a company “… offering a year of free tech support on a new computer …” (Investopedia).

In real estate, a value-added feature might be the advanced skills an agent brings to the process (provided they are impressive) or by providing any number of additional services, free.

While not a new idea, offering a real estate vendor referral service or a concierge service is one way to set yourself apart while offering true value to your clients, past and present.

“Dallas brokerage Real Estate Concierges [now Mile 27 Realty] is floating a new business model, touting its lifetime real estate consulting services as its core value to clients,” according to Paul Hageman in a 2015 blog post at Inman.com. 

The folks at Mile 27 have dubbed their service “After Care” and it includes, among other services, “A network of trusted contractors, tax attorneys, competitive insurance partners and more.”

The benefits of this service for clients is obvious. But the value you add to your services benefits your business in a number of ways. With that in mind, here’s how to set up your real estate vendor referral service.

It’s better than a knife set

Or a champagne gift basket for that matter. The whole idea that a professional real estate agent feels the need to gift a client simply for doing his/her job is mind boggling. 

Yes, the reasons some agents give closing gifts is that they believe it will help them remain top-of-mind with their clients. Yet, time and again, agents learn that former clients Joe and Mary used another agent years down the line when it was time to sell the home.

The two best ways to earn a permanent place in your former clients’ hippocampus is to provide exceptional customer service and then consistent follow-up over the years.

Don’t just say that you “… go above and beyond,” but do it. Observe your clients so you understand their needs at any given moment, keep the lines of communication wide open and be their go-to resource for any and everything having to do with their new home.

How to put together a real estate vendor referral service list

Whether you call them vendors or affiliates, the people on your list should be many and varied. 

Oh, and highly vetted, which we’ll discuss later.

Let’s take a look at some of the vendors you might want to include on your list:

  • Accountant
  • Appliance repair/installation
  • Carpet cleaner
  • Countertop company
  • Electrician
  • Flooring installer
  • Garage door installer/repair tech
  • General contractor
  • Handyman
  • Handyman/woman 
  • Home inspector
  • Home warranty company
  • House cleaner
  • Insurance agent
  • Interior designer
  • Landscaper
  • Lenders/mortgage broker
  • Moving accessories
  • Moving company
  • Painter
  • Pest inspector
  • Pet pooper scooper
  • Plumber/HVAC technician
  • Pool service
  • Popcorn ceiling removal
  • Professional home organizer
  • Property manager
  • Real estate attorney
  • Roofer
  • Septic company
  • Stager
  • Tile contractor
  • Title company
  • Trash hauling 
  • Well inspector
  • Window washer

Luxury services for your real estate vendor referral service

  • Architect
  • Audio/visual services
  • Engineer
  • Home security systems technician
  • Home watch/Housesitting services 
  • Landscape architect
  • Trust attorney

If you’re just starting a real estate vendor referral service, you’ll need to do some research in your quest to figure out who to include. Start at yelp.com, read reviews and jot down the names of those you want to interview.

Join your neighborhood at NextDoor.com. One of the main topics of conversation on the platform is “Who do you recommend for [insert the service].”

In fact, if you enter any service into the search bar at the top of the page, you’ll find every conversation having to do with it. You’ll notice that certain service people are recommended over and over. Put these people on your ‘to-interview’ list.

Finally, ask for recommendations for your real estate vendor referral service from colleagues, family members and friends.

Once you’ve compiled a list of names, move on to the Better Business Bureau to check for complaints. 

Then, ensure that the vendors you’ll interview are licensed and bonded by consulting the appropriate state licensing board’s website.

This step is very important. “… the Realtor is not responsible for the work of a properly licensed contractor, or pest inspector for that matter. When a Realtor calls a licensed professional they are doing so only in their capacity as a representative of their client,” according to Tim Jones at DailyRepublic.com.

Still, consider putting a disclaimer in writing on your website.

Now, you’re ready to interview each candidate. Don’t forget to ask for references. Get the references’ phone numbers and contact each one.

Avoid RESPA violations when building your real estate vendor referral service

“RESPA [Real Estate Settlement Procedures Act] prohibits a real estate broker or agent from receiving a ‘thing of value’ for referring business to a settlement service provider, or SSP, such as a mortgage banker, mortgage broker, title company, or title agent,” according to the NAR. 

In Section 8(a), RESPA states that “… no person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be referred to any person.”

In other words, don’t make any financial deals with the vendors.

In fact, include an additional disclaimer, of sorts, on your lists. “We do not require a fee to be on our preferred vendor list. Instead, we require a proven track record of customer satisfaction,” is one we found online. 

Then, cover your hiney further by stating, in writing, that these are merely recommendations and that it is the client’s responsibility “… to review vendors and select one that best fits their needs,” according to the experts at CRES.com.

They conclude that agents should advise their clients to “… review additional options to find the right fit.” 

In addition, since you’ll no doubt have settlement service providers on your list, consider carefully what you’ll name the list. 

“I think the term ‘preferred’ has become a minefield,” Ken Trepeta, president and executive director of the Real Estate Services Providers Council Inc. (RESPRO) tells Amy Tankersley at Inman.com.

“Do not designate a settlement service provider as the broker’s or agent’s ‘preferred’ company,” he concludes.

A wise move is to include more than one title settlement service company, mortgage broker, lender, title and/or escrow agent on your list.

Marketing your concierge services

Naturally, you’ll want to include information about your value-added services front and center on your real estate website, share it on social media and in emails and direct mail, but there are other ways to get the word out as well. 

The Harling Team in Colorado Springs includes a simple list on its website. View it at harlingrealestate.com.

An Etsy seller is marketing an attractive vendor template that’s easy to replicate yourself at Canva.com.

Another brilliant way to market and share your list is with a custom, branded app (for iOS and Android), marketed by ClientLinkt. Check out the 30-day free trial at clientlinkt.com.

 

Maintaining your real estate vendor referral service

Due diligence; it’s not just for homebuyers.

And, it doesn’t end with vetting your vendors. After all, these people are a reflection of your professionalism. Consistently monitoring their level of customer service is vital.

If you don’t have the time to check in with your clients to whom you’ve referred vendors, hire someone to do it for you. The feedback you receive may just save you from losing a former client.

Don’t be disheartened with negative feedback, it is invaluable. It offers you the opportunity to speak with the vendor and get his or her side of the story. It also gives you a chance to wow your client (or former client) with your customer service.

If you come away with any doubts about keeping a vendor, get rid of him or her. Sounds brutal, I know, but it’s necessary.

“Firing” someone is even more challenging if you have a personal relationship with them. Regardless of how you feel about someone personally, don’t allow them to sully your professional reputation.

Just as you should never stop following up with previous clients, we urge you to perform monthly or quarterly check-ins with your vendors as well.

Exceptional customer service is the best closing gift you can give and a concierge service or real estate vendor referral service is a value-added service that keeps on giving.

Content & SEO, Easy Agent Pro Blog, Follow Up, Lead Generation

How to convert real estate leads/prospects and still nurture your SOI

I once read a post in EAP’s Beat Zillow Facebook group where an agent was complaining that so many of the blog posts pushed out to EAP clients are on non-real estate subjects.

Actually, the posts are evenly split between homeowner topics and buying and selling topics. 

That said, the agent said he’d prefer that his clients learn about down payment assistance and other such topics. Interestingly, as mentioned above, he has received plenty of blog posts on just about everything a real estate consumer would want to know.

Therein lies the problem, or problems.

Educating real estate leads, prospects and clients should never come at the expense of educating, entertaining and otherwise nurturing your real estate SOI.

It’s that type of limited thinking that causes the “I’m so sorry, I forgot you are in real estate” response when you learn that someone in your sphere is buying or selling a home with another agent.

If you offer nothing of value to anyone but leads, you’re doing your business a great disservice.

Leads are just leads

Early in our sales careers we learn that leads need to be qualified to become prospects. In other words, they aren’t sure things. Some leads may transform into prospects while many more will not.

Now, consider prospects, which hails from the word “prospective,” meaning “… expected or expecting to be something particular in the future.” (Oxford English Dictionary).

These are the gold mines on your lead list. Prospects, former clients and your SOI are the people most worthy of your attention, and nurturing your real estate SOI is crucial.

Sure, consistently filling the pipeline with new leads is important for your future business, but not at the expense of nurturing the surest of those in your CRM.

The good news, is that it’s not either/or 

Lead gen and nurturing your real estate SOI are not mutually exclusive tasks. Implementing one does not automatically rule out the other.

They are both critical to the success of your business. 

Get personal

Clean up your CRM, score each lead, prospect and member of your SOI and create a system whereby new information about those in your sphere is promptly added to it. 

The more info the better because it allows your emails, phone calls and direct mail pieces to be better targeted and ultra-personalized.

Save the tire kickers for later   

Busy agents only have so much time in a day to generate income. Why waste that precious time on prospects who aren’t ready to buy or sell? 

As you go through your CRM, scoring the folks who populate it, think carefully about each prospect. 

At phoneburner.com, John Greene compiled a list of “… 5 signs that a prospect may be wasting your time …” As you’re scoring prospects, ask yourself:

  1. Do they respond to your phone calls and emails in a timely fashion? If not, Greene suggests that “… there’s a good chance it’s a reflection of their level of interest.”
  2. Is this a buyer who is dragging his/her feet getting pre-approved for a mortgage? The lack of urgency on their part is a good sign that they’re not ready to transact. 
  3. When do they plan on moving? If the timeline isn’t clear, it’s not a warm prospect. Sure, these prospects deserve follow-up, but not at the expense of ignoring warmer prospects and your sphere.
  4. Are there any pain-in-the-hineys among your prospects?  Greene cautions that “The more demanding a prospect is, the less chance they ever end up buying.”
  5. Are they ghosting you? If so, keep them on the back burner.

Use your blog for all it’s worth

Educational blog posts. That’s what the aforementioned Facebook group poster said he craves for his blog. 

“That’s what separates actually helping people from something they can find any and everywhere.”

Don’t look now, sir, but people can find real estate-related posts “any and everywhere” too. 

He went on to lament that “They may be able to find trending Dutch furniture (which was one of our posts) on HGTV but that does nothing for anyone trying to actually sell or buy a home which is the business we are in.”

Not even the homeowner who is redecorating to stage a home for sale?

If all you are interested in doing is educating leads, then fill your blog with posts about buying and selling a home.

In the meantime, you have new homeowners in your sphere that are seeking information on trends in home furnishings and design, essential home maintenance tasks and how to find the best plumber. 

You do hope to work with these homeowners or be referred by them in the future, right?

A blog full of strictly real estate process-blog posts does nothing for these people and they will move on and, quite possibly, never come back.

You have past clients, family, friends and more in your SOI who won’t regularly read your real estate heavy blog but just might visit routinely if the blog offers value to them as homeowners and members of the community.

To hit on all cylinders, your blog needs to meet the needs of not only real estate leads and prospects, but everyone in your SOI as well.

If you write your own blog posts, rotate the topics between those for buyers, those for sellers and those of interest to homeowners. 

Here are a few ideas to get you started:

Popular homeowner topics for generating leads and nurturing your real estate SOI

  • Gardening and landscaping: Topics about seasonal lawn care in your region, a list of the six toughest plants to grow in your area, when to start seeds outdoors in your area, pet-friendly yards, etc.
  • How to hire qualified contractors, such as a roofer, interior decorator, plumber, painter, etc.
  • Energy saving tips for homeowners
  • Monthly events calendar
  • Local business reviews
  • Where to dine: outdoors, with your pet, with your kids, for a romantic evening, for brunch, when you crave Italian food, German food, etc.
  • Home maintenance tips
  • Easy DIY projects
  • Trends: lighting, paint colors, furnishings, design, kitchen, bathroom, etc.

 

Educational homebuyer topics for generating leads and nurturing your real estate SOI

  • Mortgage topics: Why you don’t need 20% down to buy a home; How to shop for a lender; What is the DTI?; The steps in the mortgage process; Don’t change your financial picture until after closing; Who pays what at closing 
  • Agent topics: Why you need a buyers’ agent; What to be on the lookout for when interviewing an agent; A day in the life of a buyers’ agent
  • Current market conditions for buyers 
  • Features that are truly important to notice when viewing homes 
  • What impacts future value?
  • Compiling a realistic wish list 
  • How the home inspection works 
  • How the appraisal works; How to dispute a low appraisal 
  • Should I buy or sell first? 
  • Old house or new? 
  • Condo or SFD? 
  • What does a home warranty cover?

Educational home seller topics for generating leads and nurturing your real estate SOI

  • How to hire a listing agent 
  • Tips to choose the best offer 
  • How to sell your home in fall or winter 
  • How market value is calculated 
  • Staging topics 
  • The importance of curb appeal 
  • Title search process and issues that may come up 
  • The pros and cons of trying to sell your home yourself 
  • Do open houses work?

A goal to keep in mind when coming up with real-estate related topics is to create laser-targeted content for each stage of the buying and selling journey.

Then, to reach leads and those in your CRM, post links on social media to each and every post you publish on your blog.

To remain top-of-mind with both groups, you’ll need to consistently direct them to your website and cross-posting blog content to social media is the ideal way to do that.

But don’t stop there

Never let brilliant content go to waste. Whether you use EAP’s content or write your own, consider incorporating those blog posts into a newsletter. 

With the variety of topics, this should appeal to not only new prospects, but to those in every stage of the pipeline and your SOI.

Yes, it sounds like a big job, but you can fully automate the process of generating leads and nurturing your real estate SOI. This leaves you free to bounce down the street and make money.

Check out the possibilities at:

Don’t need full-service? Check out the newsletter templates at:

The payoff comes with consistency

The fortune is in the follow-up. An old sales adage that still has teeth yet sadly, too often goes unheeded.

Consistency is key with any marketing plan. 

“Whether you publish blogs every day or once per week, it’s crucial … to choose and adhere to a schedule,” Jon Simpson, owner of marketing and branding firm Criterion.b Agency said at forbes.com.

“Keeping with a regular strategy not only helps create a better customer experience but it also helps build credibility, reputation and brand trust,” he concludes.

Clean up and organize your CRM, figure out which of your prospects to nurture alongside your sphere and launch automated campaigns.

That’s the key to putting the brakes on chasing prospects at the expense of nurturing your real estate SOI.

Content & SEO, Easy Agent Pro Blog

Fall blog topics every Real Estate Agent should write about

1. FALL CONTENT TO ATTRACT BUYERS

“What you Need to Know About Buying a Home in [Your Town] This Fall”

As we mentioned in our summer topic e-book, this one can (and should) be used at the beginning of each season.

So, what do your readers need to know about buying a home (in your town) during fall? There’s lots to talk about right now:

  • Explain what’s happening in the real estate market nationwide and then narrow the focus to how your local market compares (less competition, moderating prices, better inventory etc.). We found a brilliant example of a post like this from Sammamish Mortgage in Bellevue, WA.
  • Hand-in-hand with the aforementioned or a standalone piece, writing the ubiquitous “Is now a good time to buy a home?” post is a good idea. Because, well, now IS a good time to buy a home. Rates aren’t about to head south for a while and waiting until next spring is silly, considering rates may just keep climbing between now and then. In fact, check out this very cool infographic from Leonardi Real Estate in Folsom, CA.
  • Prepare your buyers for the fall market by letting them know that it moves a bit quicker than the real estate market in other seasons. They’ll need to be pre-approved, of course.
    But remind them not to allow the upcoming holidays to distract them from responding quickly to requests for documents from the lender and their real estate team.
    Real estate investor Than Merrill has an excellent fall market walk-through on his website.
  • November is the month in which we celebrate our veterans, so posts about the wonders of the VA loan are always welcome.
    There are several topics you can cover throughout the month, such as a description of the program, how to get a VA-backed loan, the VA appraisal process and how to deal with a low appraisal (the process is different with the VA). Notice how this agent took the time to get local veteran statistics.
    Don’t underestimate how popular VA loan posts are. According to the government, fewer than 11 percent of the country’s 22 million veterans use the benefit. When asked why (you won’t believe this one) they said they were unaware that they had a home loan benefit.
    Sadly, many surviving spouses aren’t aware that they, too, may qualify for the loan. So you have lots of topics to cover during Veteran’s Month. Notice how this agent took the time to get local veteran statistics.
  • Did you catch that September 2017 Trulia starter home study? It found that the inventory of starter homes increases 7 percent from October to December each year. Not a huge boost but compared to what buyers found in spring and summer, it’s cause for optimism.

2. FALL CONTENT TO ATTRACT SELLERS

“What you Need to Know about Selling your Home in [your town] this Fall”

What’s going on with home prices in your area? That’s the burning question that is top-of-mind with potential home sellers.

So, just as you did for buyers, construct an awesome blog post about how the market is affecting home sellers, especially their bottom line.

Take a look at the local economy as well. Is anything in the works that may impact the market? How is the local job scene? New jobs bring in new residents so if companies choose your city to settle, let your potential sellers know.

We like how Seattle-area managing broker Jim Badgley took the time to explain the stats he posts, making his real estate market update user-friendly and ultra-hyper-local.

Other items of interest to local sellers in fall include:

  • Fall ends only four days before Christmas, so write a post about holiday décor and its role in staging the home.
  • Urge potential sellers to fix anything that might rear its ugly head during fall showings. This includes clearing out clogged gutters, servicing the HVAC system, cutting back dead tree branches (especially any that overhang walkways).
  • Curb appeal is a bit more challenging in fall. Yards become high-maintenance so they should plan on hiring someone (if they won’t do it themselves) to rake leaves and get rid of dying annuals on an ongoing basis. Check out Stephen FitzMaurice’s “Portland Fall Lawn Care and Staging Guide.” Notice the frequent use of local keywords – very well done!
  • Fall home showing tips. With the weather cooling, homes are buckled up tighter than during summer, so they tend to get stuffy. Discuss ways to keep down odors (changing air filters, allowing air to circulate around wet footwear in the mud room so they dry out faster and are less stinky, etc.)
  • Remind them to light up the home as much as possible and regulate the air temperature to make it so cozy that potential buyers won’t want to leave.

Although we see numerous opportunities to hyper-localize this post, Twin Cities agent Joe Houghton has the general idea.

PLEASE sprinkle local keywords throughout these posts – they’re pretty useless without them.

3. COMMUNITY CONTENT

How is fall celebrated in your community? Folks in Albuquerque, for instance, look forward all year to the International Balloon Fiesta®, while Sarasota, FL residents can look forward to a full slate of festivals, from the Chalk Festival and Art Festival to the Venice Blues Festival, RaceFest and more.

These are the posts that may be shared the most by your Facebook friends so ensure they’re chalk full of information and well-written.

Still stuck for ideas? Find inspiration from your colleagues in other markets, like Bainbridge Island’s Jen Pells and Minnesota Property Group’s Lindy Medeiros.

Then, there’s Halloween and most communities have something spooky to do, whether it’s haunted houses or costume parties at local watering holes. Or, how about a Netflix spooky-movie binge session suggestion list? Check out Realty Billings’ list with a real estate twist.

Or, choose a month, look up the various smaller holidays designated to the month and post away. For instance, navigate to HolidayInsights.com and you’ll see that October is Adopt a Shelter Dog Month, Breast Cancer Awareness Month, Cookie Month, National Vegetarian Month and more.

Use the ones you like best and create an entire local post around them (like this one from Anchorage, Alaska’s Unity Home Group).

Or, write one post for each. For instance, use Adopt a Shelter Dog Month post to mention various shelters and rescues in your community.

Celebrate National Vegetarian Month by reviewing the vegetarian eateries in the area (Yelpers are a huge help with these posts).

By the way, posts about planning and preparing for holiday travel are popular in fall. To grandmother’s house we go isn’t just a line from a song!

Then, there is the old standby “Best places” in your town to (or nearby):

  • Leaf peep
  • Get a pumpkin
  • Take out-of-town guests
  • Pick your own fall fruits and vegetables
  • Hike
  • Navigate a corn maze
  • Take a hayride
  • Play touch football
  • Take kids trick-or-treating
  • Find a creepy haunted attraction
  • Dine out on Thanksgiving
  • Make Christmas brunch/dinner reservations
  • Shop for your holiday take-out dinner
  • Best fall farmers markets

4. HOMEOWNER TOPICS

Naturally, the elephant in the room in fall is Thanksgiving and, with it, comes a wealth of topics (some mentioned previously).

  • Tips on Thanksgiving food safety (here’s one we wrote)
  • List of Thanksgiving apps (Bon Apetit has one, as well as Food Network, Butterball and Epicurious). There are also timer and to-do list apps that will come in handy for the chef.
  • What to do after the Thanksgiving feast in (your town).

Landscaping and gardening topics remain popular, especially in early and late fall. Growing late-season vegetables, putting the garden to sleep for the winter, lawn care and other topics are always easy to localize and share-worthy social media content.

To keep the posts local, check your county’s cooperative extension website. You’ll find a directory for each state online at gardenologist.org.

Additional fall blog topic ideas for homeowners include:

  • Anything having to do with home energy efficiency – how to save money on heating a home, HVAC maintenance tips, how to find home air leaks.
  • Basic fall home maintenance chores.
  • Hurricane season lasts until the end of November so if your area is in hurricane territory offer helpful posts on disaster preparedness, how to ensure that they’re adequately covered insurance-wise, how to deal with damage to their homes, what to do with pets before a disaster and how to apply for disaster assistance (try to keep all of them as local as possible).

5. [YOUR TOWN] FALL BUCKET LIST

What is special about where you live when fall rolls around?
Chance are good that what you find spectacular other residents do as well. “Why we Love [name of city] in Fall” hooks your brand to your location in a way that no other agent can.

Get some ideas from the pros who have written on this topic for their town or city. This one from Boston Magazine gets the “location, location, location” stuff covered in each of the events mentioned.

We pointed out this one in the spring e-book and recommend it again for those seeking inspiration. Then, take a look at the gorgeous photos in “Reasons to Love Fall in Whistler”, from Whistler Real Estate.

Finally, while we love 5 Reasons To Visit Asheville This Fall from Asheville, NC agent Jon Corbin, we feel he could’ve gone further in localizing it. For instance, he lists taking a drive on the Blue Ridge Parkway among his favorite fall activities.

“It’s not a raceway, so be prepared for slow drivers and scenic picturesque stops,” he cautions.

But, as this particular section is quite short, he has lots of space to give us more here. For instance, we’d like to learn more about those “stops” he mentions. Which does he recommend and why?

Remember, not everyone who reads your blog is a local and even locals love to learn new things about the area. Establish yourself firmly in the readers’ minds as the local expert by taking the extra step in your descriptions.

Here, Jon, we FIFY:

Do pack a picnic before you leave home in Asheville and plan on consuming it at Milepost 451.2, better known as Waterrock Knob. At 5,719-feet elevation, you’ll find prime picnic spots with views that will knock your socks off.
Then, stretch your legs after lunch with a 1.2-mile (round-trip) trek to the summit.

As you can see, there is no shortage of hyperlocal, fall real estate blog topics. Share, my friend.

Share those lead-generating posts far and wide.

At Easy Agent PRO our goal is to create the best tools, training, and resources to help real estate agents be successful and experience the life and opportunity that brought them into the business. If you’re looking for a website, be sure to check out our LeadSites – the all-in-one website that helps agent market online and generate leads through Facebook, organic traffic, and targeted activities.

We hope you’ve enjoyed this ebook and we wish you every success on your blogging this fall!

Easy Agent PRO

Easy Agent Pro Blog, Lead Generation, Social Media Marketing

Things are changing on the social media front. What does it mean for agents?

The folks at EAP like to keep you updated on the social media scene and, a lot has happened since our last update. Social media tends to evolve slowly over time, but recently the evolution has quickened. 

It’s important for agents to understand that just because a certain platform may be popular, it may not be popular among your target audience. What good does it do you to advertise or even participate on a platform where the chances of consistently generating leads on it are dinky?

Our first nugget of advice is to ignore the so-called experts in the real estate industry. Then, read advice from those outside the industry with a critical eye. Generic advice may be ideal for one industry and meaningless to another.

Your time is too valuable to invest it in marketing and lead gen techniques aimed at the wrong audience.

Focus on each platform’s U.S. demographics. That is what should inform your brand’s social media strategy going into 2022. 

As you consider any social media platform, keep in mind that, according to a recent Zillow study, the largest group of homebuyers is between the ages of 30 to 39. Right behind that group are homebuyers age 40 to 49.

Home sellers are primarily between the ages of Gen Xers: 41 to 74 years old, according to the NAR’s 2021 Generational Trends report.

Let’s take a look at some of the most popular social media platforms.

Facebook

Facebook still reigns supreme when it comes to ranking the various social media platforms. It is, however, experiencing significant changes. Some are welcome (the youngsters are fleeing in droves) some, not so much (heavy-handed, arbitrary censorship and the various scandals). 

The good news is that your most-likely clients still hang out there and engaging with them is easy.

  • There are 200 million Facebook users in the U.S.
  • 56% of US citizens over 65 are on Facebook.
  • Users aged 25–34 years are the largest demographic (a mix of Gen Z and Millennials), while those 35 to 44 (Millennials) make up the second largest group (Oberlo.com). 

While these demographics are ideal for the agent pursuing Millennial homebuyer leads, keep in mind that Facebook’s popularity appears to be waning.

“… while its global user base continued to grow, with 1.84 billion daily active users worldwide, there are serious signs of user fatigue in some of its core markets …” according to Geoff Desreumaux at wersm.com.

In the United States and Canada, “… daily active users dropped from 196 million in the third quarter [2020] to 195 million in the fourth quarter,” he concludes.

Bonus tips:

  • Best times to post to Facebook are from 9 am to 1 pm on Wednesdays
  • The highest engagement times on Facebook are from 10 am to 1 pm weekdays. Weekends have the lowest engagement.

Instagram

Peter McMahon, VP of Learning at Better Homes and Gardens® Real Estate, shared his recommendation not to neglect up-and-coming social platforms. 

“Make sure to also think about social platforms that the next generation of home buyers and sellers are using, like TikTok and Instagram,” he cautioned at inman.com.

He also suggests that you consider “your current contacts: what platforms are they most active on?” 

Let’s take a look at a few Instagram demographics:

  • 31.4 percent of U.S. Instagram users are between the ages of 25 and 34.
  • Nearly 26% of U.S. Instagrammers are between the ages of 18 to 24.
  • More than 18% are age 35-44.

(Statista.com)

As you can see, your target audience as a buyers’ agent doesn’t hang out a lot at Instagram. If you are a listing agent, it appears that zero potential home sellers use the platform.

As more evidence that Instagram might not be the platform for agents (at least right now), here are the top five interests on Instagram:

  • Travel
  • Music
  • Food & Drink
  • Fashion
  • Film

Real estate isn’t on the list.

It takes from a half hour to nearly an hour and a half to create an Instagram post. Unless you have a staff member devoted to social media, that time will be better spent on Facebook or other platforms with people old enough to use your services.

Listing agents should look for a social media platform that attracts older Americans. So far, that would be Facebook.

TikTok

“The rise of TikTok has given real estate agents another social media platform … to help promote their businesses,” according to Libertina Brandt at Inman.com.

Really? Take a look at the platform’s latest U.S. demographics and then determine whether, at least right now, TikTok is worth your time and energy.

  • Only 1/6 of monthly TikTok users live in the U.S.
  • The largest group of users is between the ages of 10 and 19.
  • 41 percent of TikTok users are aged between 16 and 24
  • The two most viewed content categories are “Entertainment” and “Dance”

You can find a more detailed demographic breakdown at omincoreagency.com. 

Don’t be impressed by other agents’ number of views. Engagement is the metric used for success on TikTok, not views. 

“… the algorithm favors pieces of content based on the level of engagement (likes and comments) that they receive,” according to Ada Cuica at outfront.kw.com.

She goes on to tell the story on one agent whose TikTok video brought 32,000 views. This particular video included a call-to-action to receive a homebuyer’s guide.

The response? Less than 1% of the views. 

Yet the agent touted this campaign as a raging success.

Real estate CTA’s in general, by the way, have a 7.60% average response rate (VYE Agency).

It’s up to you to determine whether the time it takes to create and post these videos is worth the paltry return you may receive.

Pinterest

It is well-known that Pinterest’s largest demographic is women. But, did you know that the platform “… reaches 60% of all US women, including 80% of moms and 75% of millennial women?” (searchenginejournal.com)

Women control 80% of household purchases. It’s no surprise then that “nearly 80% of the home-buying decisions … are made by women,” according to research conducted by David Powers Homes, a new-home builder.

Knowing this, check this out:

The folks at Pinterest say that the search term “How to buy your first home” has skyrocketed 124%.

Ok, so does your target audience hang out here? Yup.

  • A full 50% of Pinterest’s 478 million+ global users live in the US.
  • The age group with the highest number of Pinterest users (38%) are 50 to 64 years old (home sellers!). 
  • 34% of Pinterest users are between 30 and 49 years old (homebuyers and sellers!).

Pinterest can be time consuming in the beginning. Once you get the hang of creating a post and how to link it back to your website the process goes a lot quicker.

Aside from Facebook, we think Pinterest should be on your list. Get ideas from other agents who are active on the platform at pinterest.com.

LinkedIn

LinkedIn doesn’t get nearly enough attention when it comes to marketing for real estate agents. It’s crazy because the platform’s demographics are right in line with your target audience.

  • “As of 3rd quarter 2020, 40 percent of U.S. internet users aged 46 to 55 years used the professional networking platform LinkedIn,” according to the number crunchers at statista.com. 
  • Another 40% of internet users age 56+ also use LinkedIn.

No social media platform comes close to LinkedIn when it comes to the ideal user age and annual salary.

LinkedIn also offers some brilliant marketing solutions, including the ability to “… define website audiences for your campaigns,” according to LinkedIn’s website.

Twitter

I have a friend who is one of the most successful agents in the country. While his Facebook page is jammin’, his tweets go largely ignored.

I chalk it up to the demographics. 

  • More than 81 million monthly users in the US (statista.com).
  • Most of these users are between the ages of 18 to 29 (statista.com).
  • Twitter users only spend, on average, 3.39 minutes on the platform (statista.com). 
  • Most people that use Twitter say that they do so for news, according to Yin Ling at oberlo.com.

The primary user’s age group is far too young to have more than a small handful (if that) interested in buying or selling real estate. Add to that this question: What are the odds you’ll get brand exposure in 3.39 minutes?

Besides, Twitter is a rabbit hole that offers too many distractions.

From our research, we recommend you go big on Facebook, LinkedIn and Pinterest. You’ll get far more bang for the time you’ll invest than any of the other platforms.

Easy Agent Pro Blog, For Real Estate Agents

Feel like quitting? 5 ideas for what else you can do with your real estate experience

Nearly 4 million Americans walked away from their jobs in July, 2021, a phenomenon labeled “The Great Resignation.”

The reasons for the mass exodus are varied, according to Carmen Reinicke at CNBC.com. Some of them include:

  • The desire for more flexibility in their working conditions, especially the ability to work remotely. This is high on list of several of the surveys we viewed.
  • Craving career advancement.
  • Higher pay.

As small business owners, real estate agents can grant themselves all the flexibility in their schedules that they want. In fact, it’s what drew them to the industry in the first place. But it may come at a cost: Less income.

Nobody seems to know the exact churn rate for real estate agents. Tom Ferry, referring to a 2014 NAR study, says 87% of real estate agents eventually leave the business.

If you’re contemplating joining them and don’t have a clear idea of what you’re looking for as real estate agent career alternatives, don’t dump your real estate license.

1. Head out on your own

If you still have a bit of love for the real estate industry and want real estate agent career alternatives, consider starting your own brokerage.

Your first decision will be whether you’ll go independent or buy a franchise. That decision will depend on a couple of factors:

  • Do you meet the broker licensure requirements in your state?
  • Do you have the funds to strike out on your own?
  • Are you willing to take on all legal responsibility for your agents?
  • Do you want an even longer list of responsibilities?
  • Do you have the patience to work with new agents?

Naturally, these items aren’t all you’ll need to consider, but they do include the basics.

If your main goal is to increase your income, becoming a real estate broker is one way to use your sales license as a stepping stone to earn more.

“According to the United States Bureau of Labor and Statistics (BLS), in 2019, the average annual income for a real estate broker was $163,540.

2. Manage someone else’s property

Have you considered property management careers as real estate agent career alternatives? While there are many factors that can impact a property manager’s salary, the median salary is estimated at $101,956, according to the researchers at salary.com.

This represents a range between $76,260 and $131,263.

Many property managers also receive bonuses and benefits, such as health insurance coverage.

Let’s take a look at some of the pros and cons:

Pros of a career in property management

  • The average income of a property manager is higher than that of the average real estate agent.
  • Property managers often work on a salary basis, rather than commission-only.
  • Keep in mind that commercial property managers earn significantly more than residential property managers.

Cons of a career in property management

  • You will be the mediator between the tenants and the property owner. As we all know, there will be some contentious encounters with tenants. If you aren’t good with conflict, you may want to consider another option.
  • You’ll typically work longer hours than you did selling real estate. Emergencies happen as well, so you’ll be on call, all hours of the day and night, to attend to them.
  • You most likely won’t get to ditch lead gen duties. Somebody needs to find property owners who need management services. If drumming up and chasing after leads are among the reasons you’re ready to kick real estate sales to the curb, this is something to consider.

If property management sounds like something you’d like to do, the first step is to check your state’s legal requirements.

Some states require a broker’s license and some want a property manager license. Still others don’t require a license at all. To learn about requirements in your state, check out “Property Management Laws by State” at allpropetymanagement.com.

3. Appraise it instead of selling it

The bearer of either horrible news or lovely surprises, many real estate agents harbor a bit of a love-fear feeling for appraisers.

Still, it’s a rather cool gig where you aren’t chained to a desk for the entire workday, and that’s why it makes our list for real estate agent career alternatives.

If you’re considering becoming a residential real estate appraiser, consider the following:

  • You may not earn as much as you did when slinging houses. The national average salary for a residential real estate appraiser is $63,249 per year, according to research by ziprecruiter.com. The majority earn about $52,000.
  • Most appraisers are employees, rather than independent contractors.
  • “All states require appraisers to be state licensed or certified in order to provide appraisals to federally regulated lenders,” according to the experts at The Appraisal Institute.

Naturally, it’ll feel a bit like starting over when taking the courses required to become a licensed appraiser. Once you get it done, however, and pass the exam, you’re on your way to a new career.

Find the licensing requirements in your state online at appraisalinstitute.org.

4. Work on the lending side

There are several interesting career choices within the mortgage industry. Some are a better fit for those who like working with people while others are best for the number crunchers and those who enjoy remaining behind-the-scenes.

Some of these positions include:

  • Loan officer: This is the guy or gal that you currently recommend to your clients as the first person to contact when they want to buy a home. Loan officers help your buying clients find the right loan for their circumstances. The average earnings, according to the folks at indeed.com, is $179,205 per year.
  • Mortgage broker: “Mortgage brokers essentially work as middlemen [or women] between borrowers and banks/lenders …,” according to Colin Robertson at thetruthaboutmortgage.com. Compensation is much like that of real estate agents in that it depends on the number of loans they originate.
  • Loan processor: The processor is tasked with collecting all of the borrower’s documentation that the underwriter will need to make a determination. He or she verifies that the documents are complete. The average base salary of a loan processor in the U.S. is $53,435 (indeed.com).
  • Underwriting: The underwriter is tasked with verifying the borrower’s qualifications, such as income, employment, etc. The underwriter makes the determination as to whether or not the applicant is credit-worthy. The average base pay for a mortgage underwriter is a smidge less than $70,000 per year.

5. Go huge

Depending on how much college you currently have under your belt, attending law school may be one of the real estate agent career alternatives to think about.

As a real estate attorney, you may still perform many of the more pleasurable tasks of the real estate sales agent, such as advising clients who are involved in a transaction and attending closing as their advocate.

Eight states require an attorney’s involvement at closing, according to octoberresearch.com:

  • Connecticut
  • Delaware
  • Georgia
  • Massachusetts
  • North Carolina
  • Rhode Island
  • South Carolina
  • West Virginia

Regardless of the area of the country in which you’ll practice, there are other aspects of a real estate lawyer’s business. “Real estate law covers deeds, property taxes, estate planning, zoning, and titles,” according to Troy Segal at investopedia.com.

The average income for attorneys working in the real estate niche ranks third on the “Lawyers that Make the Most Money” list compiled by thelawpraticedocotor.com.

In case you’re wondering, salaries for the top three niches are:

  • Intellectual property lawyers – average salary of $155,000 per year
  • Health care lawyers – average $147,000 annually
  • Real estate lawyers – average $118,000 annually

To get your hands on this sweet gig, you’ll need to hold “… a bachelor’s degree, pass the Law School Admission Test [LSAT], complete a graduate program at a law school accredited by the American Bar Association and pass the bar examination in the state where …” you want to practice, according to Eric Ciechanowski at jobhero.com.

There is no shame in admitting that your real estate career makes you miserable. There is no rule that says you have to stick with it until retirement.

Changing careers is often cited as a life-changing decision. One that many don’t regret. If you feel like you’re in a rut, consider these real estate agent career alternatives.

Not ready to give up the gig? Consider switching to a website that takes the pressure off – LeadSites can help, learn how.

Content & SEO, Easy Agent Pro Blog

Video for Real Estate agents – How to create videos to get more real estate leads

Hey, have you heard this one?

“85 percent of buyers and sellers want to work with an agent who uses video”

The chances are good that you have because it seems like everyone who is trying to sell video services to agents uses it in their marketing.

Sadly, although they credit the NAR for the finding, they neglect to tell their visitors that the research is from 2012, nearly a decade ago.

Technology has advanced rapidly over that decade. In fact, when we fast forward to last year, we find that 3D tours are all the rage, pushing the popularity of traditional video tours to all-time lows.

Here’s the thing though…

Video is far from dead and gone.

You just have to adjust to the times.

While tired old real estate video tours are most definitely a thing of the past, video is here to stay in a BIG way. After all, just look at the most popular social media app for people under 40: Tiktok.

The key to marketing with video for Real Estate is to be creative and have fun – It’s not enough to just be a talking head in front of a camera anymore… You have to make your viewers believe you WANT to be there.

More than that, you have to be genuine.

Here are some great uses of video for Real Estate:

  • An introduction to you and your services
  • Neighborhood tours
  • Educational videos about the process of buying, selling or obtaining financing
  • Client testimonials

The last one, by the way, if done right, is a powerful way to showcase your expertise and amazing customer service.

There is a lot to consider before you jump in front of the camera, however.

Start with what will be behind you

As you’re well aware, just about everything you do in your business reflects on you, from your branding to your marketing.

What’s going on in the background of your video has a huge impact on the overall vibe you’ll give off, according to Phil Ebener at videoschool.com. It also reflects on your professionalism.

He goes into detail about the two types of video backgrounds, real and fake. Real backgrounds are actual locations, such as your office, outdoors or anywhere else you choose to shoot.

Fake backgrounds include “paper, curtain, green screen,” according to Ebener, and “both are great choices for different reasons.”

Consider the fake background for a professional look and the real background to appear more friendly, homey or whatever feel your brand is attempting to relay.

For the former, you can use a curtain or something similar, or go pro by purchasing a backdrop:

  • Savage Seamless Background Paper, available in an assortment of colors so you can match your brand colors.
  • Search for studio backdrops on Etsy.com. We rather like this one for real estate agents.
  • Green screen. These are available online from an array of vendors. Do a Google search for “green screen” and click “shopping” on the results page. We even found one at Walmart.com. We also happened upon a brilliant walkthrough of the basics of green screen use for real estate agent videos at youtube.com.

If you decide to go with a real background, such as your office or an area of your home, does it go without saying that you should clean up the clutter?

Don’t skimp on the lighting

According to the pros who do video for Real Estate, when it comes to lighting, there are some rules. Number one is most critical:

Don’t place any lights behind you or directly over you

When placed in back of you, the light dominates and you, the star, appear as a silhouette. Lights overhead “… cast unflattering shadows on your face,” said Melissa Dittmann Tracey, contributing editor at REALTOR® Magazine.

She goes on to cite recommendations from Jacqueline Whitmore, founder of Florida’s Protocol School: “Position yourself about 2 feet in front of a lamp or window.”

Lighting doesn’t mean cannibalizing your marketing budget. The staff at masterclass.com offers the following purchase suggestions for agents on a budget:

They caution that these light sources “… can be harsh and non-dimmable, so you’ll need diffusers or reflectors to soften their effect.”

You’ll find additional lighting tips online at masterclass.com.

Look and sound like a star!

  • Choose your topic carefully and plan on addressing that topic and no others. Make additional videos for each topic you want to address.
  • Write a script and memorize it. Rehearse what you’ll say until it flows naturally.
  • Keep that script and use it as the transcript of your video if you’ll be posting to YouTube.
  • Speak slowly and clearly.
  • Don’t raise your chin; nobody wants to see up your nostrils. Yet, this is a common mistake. Keep your head level.
  • Look directly into the camera. This makes the viewer feel as if you are speaking directly to him or her.
  • Dress professionally; no jammies or sweats.
  • Wear a solid color instead of patterns or stripes.

For examples of real estate videos done right, check out “5 Real Estate Agent Profile Videos Worth Imitating,” here on EAP.

Need some help with your DIY editing?

There’s lots of help online for the novice who wants to create video for Real Estate, and even for those with a bit of experience. Take a look at some of these companies and what they have to offer (We’re not affiliated with any of these groups by the way – We’re just fans!)

Magisto.com

Magisto’s steps to creating video for Real Estate include:

  1. Upload your real estate video
  2. Choose an editing style and music from the library
  3. “Our A.I. powered professional video maker will analyze and edit your … real estate video.”

The company offers three plans that range in price from $4.99 to $34.99. Check out the details on their website. Then, read the reviews on G2.com.

Videocreek.com

Video Creek offers a YouTube video editor as well as an Instagram editor, promo editor, online video editor, free intros and more. It’s perfect for video for Real Estate agents.

Prices for their three plans range from $0 to $30 a month. See the details of what is included in each plan on the company’s website.

Filmora

Rave reviews abound for Wondershare’s Filmora.

  • “Easiest tool for video editing”
  • “All in one tool for video editing”
  • “Filmora is the best software platform that can easily and quickly create high-quality videos.”
  • “Best video editor for beginner’s [sic]”

There are three plans from which to choose:

  • $61.99 for the Annual Plan
  • $89.99 for the Perpetual Plan
  • $109.99 for the Bundle Subscription Plan

Filmora offers a cancel-at-any-time policy.

Follow this link to their website and scroll to the bottom of the page for the button to claim a free trial.

OpenShot

If you are an absolute newby to creating real estate videos, check out OpenShot. In fact, one g2.com reviewer claims that “This software is suitable for beginners who are making videos for the first time.”

It’s available for Windows, Mac and Linux.

And, best of all, this is open-source software, meaning that you don’t have to pay for it.

Adobe Premiere Rush

Reviewers almost unilaterally agree that Adobe’s Premiere Rush is user-friendly, but only for beginners. Advanced users may want to step up to Premiere Pro.

That said, the price is reasonable (after a free trial), at only $9.99 per month.

If none of the above work for you, check out the list of editing software for beginners at influencermarketinghub.com.

Not a beginner?

Adobe Premiere Pro

“Adobe Premiere Pro is our pick of the best video editing software.” That’s lofty praise considering it comes from the editors at Tom’s Guide.

They go on to say, however, that with a hefty price tag of $20.99 a month, it’s suited for someone who plans “… to do a lot of video editing.”

Check out the reviews at g2.com.

Video Studio Ultimate 2021

Once you have video editing basics under your belt, Corel’s Video Studio Ultimate can take you the rest of the way.

Winner of PC Mag’s Editor’s Choice award, the pros at Tom’s Guide claim that the software is “… powerful but easy-to-learn, and can be used to create simple videos without fuss …” yet it also “… supports a huge array of tools for when you’re ready to make more complex videos.”

Do check out the tech specs before committing. Some users complain about lagging during rendering and that some tools are slow to load.

Corel offers a 30-day trial and, if you purchase Video Studio Ultimate, you’ll be offered a 30-day money back guarantee.

The price is typically $99, but, at this writing, you can pick it up for $69.99 and they’ll throw in some goodies as well. Check it out at videostudiopro.com.

Easy Agent Pro Blog

How to nurture the homebuyers you already have

If ever there was a time that homebuyers required hand-holding, it is right now, in this market.

While the market is described by the media as “white hot,” “booming” and “skyrocketing,” homebuyers who face bidding wars and inventory shortages aren’t exactly happy campers. Which, as you know, is a pity.

Buying a home should be a joyous occasion, not a battle.

So now, more than ever, they require a bit more nurturing than clients of the past. Knowing what to communicate to homebuyers is vital. At least if you hope to work with them, their friends, family and colleagues in the future.

The most important question of all is: do you know how to help them, counsel them and go to battle for them in the real estate wars they face?

What keeps buyers awake at night?

Do you understand—truly understand—their pain points right now? Are you aware of what keeps them up at night?

Many are scared. Of a lot of stuff.

Let’s start with you. Unless your homebuying clients are folks from your sphere, they don’t know you. Without an established relationship, there is no trust. And that is a scary place to be when you’re making such a huge investment.

Yet so many agents either don’t hold a buyer’s consultation or they run through it, spewing real estate jargon and assuming the people in front of them know what they’re talking about.

A full 60% of homebuyers responded to a survey claiming that the one thing they value more than anything else that their buyers’ agent can provide is knowledge of the process. (magazine.realtor)

Coming in right behind that one (at 56% of respondents) was an agent who was willing to point out a property’s “unknown” features and faults.

What To Communicate To Homebuyers Right Now

Now that you know a few things that are probably causing your homebuying clients the most angst, what will you do to help them conquer it?

Let’s take a look at a couple of the biggies and some solutions you can employ to put their banish their anxiety and relax into the process.

I don’t get it

If you weren’t a real estate agent when you bought your first home, surely you recall how confusing the whole process seemed. The jargon, the contracts, the very real fear that you might be getting taken—all of them add up to one anxiety-ridden client.

Think back and get those feelings back. When it comes to determining what to communicate to homebuyers, you can relate to especially first-timers and show them you’re in tune with how they feel and what they need.

It all starts with your buyers’ consultation. Not only do you want to learn their needs and preferences in a new home, but you’ll want to pay close attention to any and all things of a personal nature that they choose to share with you. These might include:

  • Where they grew up
  • Information about pets and kids
  • Hobbies
  • Skills
  • Career information
  • Interests (golf, reading, tennis, etc.)

Make notes of everything so that you can enter the information in your CRM when the meet is over.

Then, ensure that you share with the buyer each step in the purchase process and everything you will do to facilitate it.

Don’t rush this process, and keep the information “… appropriate for their needs [and] easily accessible,” according to a white paper published by the U.S. Department of Housing and Urban Development.

In other words, keep the language simple, yet thorough. Ensure that they understand every step of the way. Ask lots of questions and listen to their answers.

Not only is the buyers’ consultation a brilliant service to your clients, it also helps you in that you’ll be working with a more relaxed client. Plus, it decreases the chance of a poor outcome, paving the way for a smooth transaction.

Conducting the buyers’ consultation in person is ideal. Barring that, other formats to consider include:

  • Via video conferencing (such as Zoom)
  • Compile the consultation in an e-book and post it to a dedicated spot on your website.
  • Compile a hard copy and bind it. Then, mail it to your clients so that they’ll have it on-hand to refer to when needed.

Here are some tips on what to communicate to homebuyers:

  • The mortgage process, from start to finish. Yes, that should be the lender’s job, but few take any time to explain the process to clients.
  • Who does what during the lending process? For instance, what is an underwriter? What happens at closing?
  • The documents the lender will require.
  • The importance of loan preapproval.
  • The importance of the wish list. Not only does it help them be more realistic about what they can purchase, but it helps you determine what is truly important to them.
  • Describe the MLS – what it is and how it works.
  • Write up a glossary of real estate and contract jargon, from “amendment” and “earnest money” to “under contract.”
  • Explain your process, step-by-step, from the time they hire you as their agent until closing. Include even the smallest details.

Details are important when considering what to communicate to homebuyers, so use them when explaining your duties. Every last detail of every single thing you will be doing for them is crucial.

Remember, the more information you provide and the easier it is to understand, the more value homebuyers will attach to it.

Communication is key

Timely response to all communication from your buyers and keeping them in the loop is crucial.

Even if you have nothing new to tell them, reaching out to let them know you’re still working for them from your end will go a long way in providing the kind of customer service that garners referrals.

In fact, everything you do with your buying clients, from beginning to end, should be another step to building a foundation for a long-term relationship.

Easy Agent Pro Blog, For Real Estate Agents

5 real estate continuing education providers worth a look

Back in real estate’s Jurassic period, those continuing education courses we need to take to maintain a real estate license were time-consuming and expensive. Pre-internet meant receiving the courses via snail mail or spending time at a local real estate school or association of REALTORS®.

Lucky is the modern agent who gets to go online to brush up on (and be tested on) contracts, agency and ethics.

Laws vary by state, however. In Nevada, for instance, “At least 12 of the required 24 hours [of the continuing education requirement] must be taken through live instruction,” according to the folks at theceshop.com.

An agent in Iowa must complete “… 36 hours of approved programs, courses or activities.” Of these, 24 hours can be done via “distance learning.”

Find requirements for all 50 states online at vaned.com.

As you peruse the offerings of the various schools, the first thing to look for is which states they serve. Some, but not all, serve all 50 states.

Then, check out the course format. Visual learners may become overly bored with strictly text-based courses.

Price is always a consideration so call each company you are considering to find out if they offer discounts for seniors and vets, if you fall into one of those categories.

You may also find discount coupons for everyone online. One agent found a 40% off coupon at groupon.com.

If license renewal time is approaching, take a look at the list below to help you choose an online continuing education program to meet your needs.

First timer?

If this is your first license renewal, you no doubt have tons of questions on how to choose a real estate continuing education provider.

First, be aware that “Some states require a special first renewal known as post-licensing that allows a salesperson to retain their active license,” according to the pros at 360training.com.

“In some cases, the post-license education must be completed on a different timeline than the standard renewal cycle,” they continued.

Understand your state’s requirements for obtaining what you need for a license renewal.

Next, ensure that the courses on offer include exactly what you need. You might be surprised at the number of agents we’ve spoken with who thought they’d taken all the hours in the required subject only to learn near the end of the courses that they took the wrong ones or not enough of the right ones.

The real estate continuing education providers listed below are listed in alphabetical order, in no particular order of preference.

Aceable Agent

Aceable Agent offerings are ideal for the newer agent who is still reeling from the complexities of real estate school jargon.

Agents who’ve used the services say the content is “engaging,” yet techy friendly. One Texas agent says that the courses are “… mobile-friendly, app-friendly … you can study or read on your tablet, on your desktop, on your laptop … they’re versatile on whatever platform.”

We like the fact that you’ll never lose progress, regardless of how many times you change platforms while studying. “… each course supports multiple devices,” according to a reviewer at ais-cpa.com.

“Learn at home on your computer, then continue later in the day on your phone. Plus, all content works with no issues on all devices— which is a far cry from services with tacked-on mobile features that were clearly designed with a desktop in mind,’ he adds.

If you prefer your learning to be delivered in a light-hearted, conversational manner, check out Aceable.

Aceable Agent courses are not currently offered nationwide, but are available in 12 states:

  • Arizona
  • California
  • Colorado
  • Florida
  • Georgia
  • Michigan
  • New York
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Virginia

We mentioned earlier an agent who snagged a decent discount at groupon.com and it was Aceable that was offering it. So check there and the company’s website for specials before signing up.

Read additional reviews at trustpilot.com, google.com and facebook.com.

Kaplan Real Estate Education

In business for more than 80 years, if you seek an experienced staff for your real estate continuing education provider, check out what Kaplan offers.

The company gets rave reviews at Trustpilot for their licensing classes but seems to struggle with their commitment to those seeking continuing education.

Reading the CE student reviews, it seems to boil down to a lack of customer service with the company’s CE clients.

“My continuing education credits have not been properly reported. I have called numerous times and the company representatives are very nice but nothing ever happens,” claims one reviewer.

Another, states that the CE process was the “Worst experience ever.” He explains the problem at trustpilot.com and said that “I called Kaplan explaining the issue for 5 days straight, while also sending e-mails and not a single person has gotten back to me, and the issue is still not resolved.”

Kaplan offers continuing education for real estate agents in all states but the following:

  • Alaska
  • Arizona
  • Connecticut
  • Delaware
  • Florida
  • Hawaii
  • Kansas
  • New Hampshire
  • Nebraska
  • Wyoming

To get a better idea of what Kaplan offers for real estate continuing education, check out the course demos on the website.

Mbition Real Estate

If you have a busy schedule and need a real estate continuing education provider with classes that allow you to go at your own pace, check out what’s on offer at Mbition.

Reviewers laud the classes and the company:

  • “Fantastic customer service!”
  • “Excellent content and easy-to-read format.”

The downside is that Mbition doesn’t offer a refund policy or free cancellation. Once you sign up and pay you’re locked in.

Real Estate Schooler has produced a video walkthrough of a sample CE class sign-on and it’s posted at youtube.com.

McKissock Learning

If you’re a visual learner, skip this section. Some users complained that the material was “dry” and that they had hoped for at least some video instruction.

That said, McKissock serves more than 300,000 students (real estate, appraisal home inspection and others) each year, so they are doing something right.

The course selection naturally contains the typical agency and contract classes, but you’ll also find more interesting offers such as “Elements of an Eco-Friendly Home.”

Not all is rosy, however. Complaints from customers include two that claim the “supervisors are rude,” another who had an “awful experience” and another who had a “horrible experience.” Neither of the latter two went into detail.

Others claim the opposite is true: “The staff was extraordinary, and they always went the extra mile for their users,” and “Service is perfect, they make it easy to navigate and to renew my license!”

McKissock serves those seeking continuing education credits in all 50 states.

The CE Shop

Five words: Average pass rate is 90% (agentadvice.com). We don’t know of another real estate continuing education provider that can make that claim. But, wait, there’s more to love about The CE Shop:

  • They welcome students from all 50 states
  • Free trial for 5 days so you know what you’re getting when/if you commit.
  • Customer support phones are peopled 7 days a week.
  • The CE Shop offers discounts to members of the U.S. military and their dependents.

While the majority of agents we spoke with mentioned The CE Shop positively, it’s challenging to find online reviews for the continuing education program. Nearly all reviews came from those taking licensing courses.

Here’s a bit of what we were able to round up:

  • “I like the wide range of topics and recommend them for all realtors.”
  • “The only thing I would like to see is to have it on video or be able to listen to it instead of reading it.”
  • “On completion of your chosen course, your completed CE requirements are automatically uploaded and a certificate is issued to you for downloading or printing.”
  • “I have been able to complete my continuing education without any issues … on my own time and in a timely manner.”

A referral from colleagues to a real estate continuing education provider is most likely going to yield a solid choice, so ask around the office to learn which continuing education service they like best. Otherwise, we hope we were able to help you narrow down your list in your search for continuing education.

Easy Agent Pro Blog

Need real estate listing leads?

Have you noticed that housing market news is solely focused on rising home prices? Sure, there is the occasional tidbit about the lack of inventory, but consumers are mostly hearing that it’s almost impossible to buy a home right now.

This puts homeowners who may be thinking of selling in a quandary. They’ll get good money when they close, but will it be enough to buy the next home?

The one critical thing that we rarely read in the media is how much equity the average American homeowner is sitting on.

“On average, homes with a mortgage gained $26,300 in equity in the last three months of 2020 versus a year earlier,” according to the Associated Press, citing stats from Core Logic.

Sadly, this impressive news is hard to find. Unless you step in and change that.

Today I’m going to show you how to get real estate listing leads by reaching out to the right people.

real estate listing leads

Reach out to homeowners for real estate listing leads

Not just any homeowners, though. Your best bet right now are the owners of starter homes and absentee owners. The former are the ones most likely to be considering selling in a quest to move up. Many of the latter group want to get out from under the rent moratorium.

Farming, via direct mail, is probably the best way to reach out to these homeowners. There are several reasons for choosing this marketing method right now:

  • We are subjected to between 6,000 and 10,000 digital ads per day. That a whole lot of noise for consumers to sift through. We don’t know about you, but we don’t even see the ads anymore.

Sure, we know they are there, but we ignore them.

  • “Bidding costs on digital marketing platforms have risen and continue to rise as a result of high demand and increased competition.” (International Business Times)
  • Online attention spans are dwindling. The average is eight seconds; for mobile users it’s three seconds.
  • More than 60% of Americans said that they felt more connected when they received a card in the mail (USPS Market Research & Insights).
  • Fifty-five percent said they felt less isolated when they received snail mail.
  • Direct mail response rates are from 10 to 30 times that of email and direct mail is more effective than email at creating and retaining brand awareness. (Data and Marketing Association).

To ensure that your marketing is noticed, give direct mail a whirl. Agents we’ve spoken with who are utilizing direct mail are seeing some pretty impressive results.

Two words: Eviction moratorium

real estate listing leads evictions

“And I‘ve been dancing between the raindrops trying to keep things together,” one landlord told  the Washington Post’s Jonathan O’Connell.

“… we have people who owe us seven, eight, nine months of rent,” another laments to Mary Ellen Cagnassola at newsweek.com.

The National Rental Home Council claims that the eviction moratorium has impacted “A majority of single-family rental homeowners.”

It’s the smaller landlords, who own fewer than four units, who are suffering the most who are suffering the most, according to the NAR. Nearly 60% of them are owed back rent.

These folks are most likely to sell to get relief from what many are calling the “gut punch” that the moratorium served them and, with the extension of the moratorium, it continues to serve.

“About 23% of small landlords, owning between one and three single-family homes, planned to sell at least one property due to difficulties caused by the eviction ban,” said Michelle Conlin, citing the aforementioned National Rental Home Council study (reuters.com).

But you’ll have competition from investors. And not the small, “we-buy-ugly-homes” type, but institutional investors.

“The big buyers are happy to take these properties off local landlords’ hands.” Rick Palacios, Jr., director of research at John Burns Real Estate Consulting tells Conlin.

Ok, so going up against institutional and other investors for listings sounds a bit more daunting than it is. Yes, absentee owners are the low-hanging fruit right now and, yes, big moneyed investors are swooping in.

But they aren’t local and that’s one thing you have going for you.

Here are some tips to compile a mailing list to get started on an absentee owner campaign:

  • If you don’t have a farm area, find one.
  • Separate owner-occupants from absentee owners.
  • Create a landlord-dedicated section in your CRM and load it with all of the names and contact information you’ve collected thus far.

Now it’s time to expand your list of real estate listing leads

Although you want to expand the list of landlord leads you already have, you may want to narrow your focus based on certain criteria first.

These might include:

  • By ZIP Code – if you currently farm a certain area, be sure to include the ZIP code (or codes) as a criterion.
  • The value of the property. If the majority of your buyers are first-timers, skip higher-end homeowners.
  • Ditto on square footage. Smaller is better in many cases.

Where will you find these absentee real estate listing leads? Realist (a public-records database that provides, among other goodies, property ownership information) is offered by many of our nation’s MLS’ so lucky you if yours does.

If not, your title company may offer free farming packages. Otherwise, consider buying a list from one of the many companies that offer them.

ProspectsPLUS! offerings are worth a look. They not only offer mailing lists but real estate-specific postcards, fliers and other marketing items. They even offer absentee owner campaigns. Here are others you may want to check out:

Marketing pieces for absentee owners

Real Estate Listing Leads Absentee Owners

The first item on your list of marketing pieces for absentee owners should be a very simple CMA. And, do it soon, while values are still super high.

Not only does this establish you as an area expert, but it may just surprise the homeowner with how much his or her home is worth. At the very least, you’ll most likely get the selling wheels turning.

For the best open-rate, send this piece to each prospect in a plain, white, #10 envelope, hand-addressed (no branding).

For an even better open rate (99 to 100% according to an agent who does this), snap a photo of the property, shrink it down to 2-inches square and attach it to the envelope. He also includes a small note, written on the back of the envelope, near the photo, that asks if the landlord has seen his or her property lately.

Yes, it sounds like a bit of work. Real estate listing leads, however, aren’t going to magically fall in your lap.

We know that small landlords are experiencing most of their pain around the lack of cash flow. Their income properties aren’t producing income. They are, in fact, producing debt.

Operation and maintenance costs weren’t given a tenant-like holiday. “If something breaks in the apartment, if the HVAC goes, it still needs to get fixed, and it needs to get fixed ASAP,” reminds Caitlin Walter, National Multifamily Housing Council at marketwatch.com.

That’s the very real pain you want to address in your other marketing pieces, along with the solution (selling) and the good news: they most likely have lots of equity.

Or, you may want to remind absentee owners that selling to an investor will bring far less money than selling to a traditional homebuyer. Your approach is to help them make money, not lose it.

A series of postcards with the various messages, sent over a period of time, may be just what is needed to push these potential sellers off the fence.

Real estate listing leads

Content & SEO, Easy Agent Pro Blog, Lead Generation

Can you explain the escrow and title processes to your buyers and sellers?

For sellers, the real estate process is full of confusing processes, from choosing an agent to the final handshake.

Buyers have their share of headaches too… Take insurance, for instance. There’s PMI and MIP, homeowners insurance and title insurance.

The average real estate consumer knows little about many of these processes, leaving it up to agents to educate them.

Are you ready to do so?

explain the escrow and title processes

The clearer you can explain the escrow and title processes, the better your clients will perceive a high level of customer service. And being known for that is the bedrock of a business built largely on referrals.

Yes, you learned the basics of these processes in real estate school. But the basics don’t cut it when coming up with a clear, concise way to explain the escrow and title processes for a client (especially a first-time buyer or seller).

What is escrow?

Throw the word escrow at a first-time buyer and you’ll most likely be met with a blank stare. It’s not a word we use in every day conversation.

As you were taught in real estate school, “escrow” describes the neutral third party that holds “… money, goods, or a written document …” until specific conditions are fulfilled.

These conditions are described in the escrow instructions. In real estate, the purchase agreement serves as the escrow instructions.

“Close of escrow” refers to the fulfillment of the instructions (funds disbursed, title transferred etc.).

Now that we’ve refreshed your memory, it’s your job to put this process into simple terms so that you can easily explain it to your clients.

Are you ready to explain the final closing statement (aka settlement sheet) for instance? Some of the items which may need to be clarified for the new real estate consumer include:

  • Non-recurring closing costs
  • Recurring closing costs
  • Credits
  • Debits
  • Prorations

Get familiar with the closing statement your escrow company uses and look for anything that may confuse your clients.

From opening to closing, your clients should be aware of every step.

And title insurance?

explain the escrow and title processes

Title insurance coverage provides assurances that no person or entity has a lien against or claim on the title of the property being purchased.

These claims and liens are commonly known as “clouds” on the title and you most likely learned about those that are the most common in real estate school.

Here’s a memory jogger:

  • Surprise heir of a previous owner
  • Fraud
  • Liens
  • Delinquent taxes
  • Forgery
  • Clerical errors

The types of title insurance are confusing to newbies

The typical “who pays for title insurance” question is “it depends.” First, it varies by market. Second, you’ll want to describe that there are typically two types of title insurance.

One is lender mandated and covers the lender’s interests. The other is the buyer’s policy, covering the buyer.

You’ll quickly learn who pays for what in your area.

Explain the escrow and title processes

Sellers, especially, need to be fully informed about and have knowledge of the title process. If a cloud turns up, it will need to be cleared and, as you were probably taught, some of the clouds you may run up against can take a significant amount of time to clear.

Time is of the essence during a real estate transaction, and a problem with the title could prolong the sale and even derail it.

Learn everything you can about title searches by visiting rocketmortgage.com, homelight.com and bankrate.com.

Educate your clients

There are a number of ways to explain the escrow and title processes to your clients.

explain the escrow and title processes

The consultation

Many buyers’ agents hold buyer consultations with their new clients. Basically, it’s a sit-down to find out what they’re looking for in a home and where they want to live.

It’s also an opportunity for the agent to find out if the clients have seen a lender and just how real estate savvy they are.

Rather than use your precious time to do a verbal walk-through of the process, compile packets of information that they can take home with them. Or, a list of blog post urls on your website.

We like the packet idea because you can brand all of the included pieces, add your bio and any other information you think would be helpful.

Not many agents offer this, so it will definitely help you stand out in a crowded market.

Write a book

We know several successful agents who have both a seller’s and a buyer’s book, in published form, written by a professional writer. What they like best about these books is that they establish instant credibility.

But don’t let the cost of publishing and hiring a real estate writer stop you from creating a book. Ebooks are economical ways to introduce clients to your new business and the processes they will be going through when they work with you.

explain the escrow and title processes

YouTube videos

Explainer videos, as long as they aren’t too long, offer you a way to not only explain the escrow and title processes and reach potential clients, but to show your personality and professionalism as well.

Blog posts

Earlier, we mentioned pointing clients to educational blog posts on your website. This is probably the least time-consuming way to explain the escrow and title processes, and costs the least (you get free blog posts with your EAP website).

Plus, by cross-posting them to your Facebook page, you’ll attract new clients as well.

Welcome to the world of real estate!

 

 

 

Easy Agent Pro Blog, For Real Estate Agents

Book suggestions for new real estate agents before starting their careers

Looking for book suggestions for new real estate agents? You’ve come to the right place.

Your first day on the “job” in real estate is nothing like your first day in any other industry. For starters, no matter how hard you work, how many gazillions of hours you put in, you can’t count on a paycheck.

Getting that first deal is your goal. At times, it will seem like it will never happen.

Starting a new business, which is what you’re doing, is akin to working an algebra problem. Take the steps, as laid out (“Please Excuse My Dear Aunt Sally,” remember?), and you’ll find success.

Trying to speed up the process by dividing before multiplying and, although you may think you’re still on the right track, you aren’t.

It would be amazing if there was a PEMDAS for real estate. Instead, advice from others has to suffice. Some of these book suggestions for new real estate agents we’ll be introducing you to act as a roadmap, setting out the steps you will need to get to your destination.

Your First 365 Days in Real Estate: How to build a successful real estate business (starting with nothing), Shelley Zavitz

Our first choice in our list of book suggestions for new real estate agents begins with words of wisdom:

“Just because you have a license, doesn’t mean you have a business,” Ms. Zavitz claims on her website.

Truer words have rarely been spoken.

Zavitz, a Portland, Oregon agent, goes on to offer new real estate agents “The framework every successful start-up real estate business must implement in their first year.”

We looked to online reviews of the book to learn if she fulfills that promise.

There are few negative reviews. One of them is about the condition of the book (there were pages missing from her copy). Another was from someone who identifies himself as an agent, has reviewed seven real estate books and hated them all, including the very popular “Millionaire Real Estate Agent.”

Reviewers without either envy or another agenda rave about “Your First 365 Days in Real Estate.” Awarding it 4.6 out of 5 stars, here are a few of the accolades:

  • “It’s a book about how to get business. How to keep your mindset in the game. How to prevent your Ego from being your largest road block.”
  • “I bought 11 for all of my new agents!”
  • “Once you begin reading you won’t be able to put the book down … It motivated me to GO HARDER in everything I choose to do.”
  • “If you want a glimpse of what it is like to be in this business and get some guidelines and how to run this like a professional, buy this book.”
  • “I would recommend this book and the resource section in the back of this book.”

Total pages: 151

Publication date: June 3, 2019

Available at Amazon.com, BarnesandNoble.com, AllThingsRealEstateStore.com

SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business, David Greene

One of the most challenging aspects of becoming a new business owner is correcting your mindset: How to lose the employee mentality.

Your broker is not your boss and he or she in all likelihood won’t have the time or inclination to teach you all those critical aspects of running a real estate business that you didn’t learn in real estate school.

Do you know how to construct a sales funnel “… to keep clients moving along the path from prospect to paycheck?” How about the most efficient use of a CRM?

Greene stresses, among other things, the importance of achieving “… mastery of your tools,” to free yourself up for other aspects of your new business that need your attention.

Eighty-nine percent of the book’s 226 reviews garner five stars with only one single-star review.

Here’s why this one makes our book suggestions for new real estate agents:

A former police officer and active real estate investor, Greene co-hosts BiggerPockets’ podcast and is a go-to guest speaker on all things real estate for CNN, HGTV and Forbes.

Amazon reviewers love the step-by-step instructions: “David gives such great, actionable steps to take as a new or seasoned agent. This book is invaluable for anyone who is taking their real estate career seriously, and wants to run it as a true business.”

Additional reviews include:

  • “If you’re considering becoming a realtor this book is also a great way to get an idea of what’s involved. Worth every penny.”
  • “This book is an easy read with a ton of information, so much information that I stopped writing notes and just started marking pages in the book that I will come back and reference.”
  • “So many tips for new agents. As important as what to do is what not to do.”

Total pages: 208

Publication date: February 2, 2021

Available at: Amazon.com, BiggerPockets.com, Barnes&Noble.com, Powells.com

Your First Year in Real Estate, 2nd Ed.: Making the Transition from Total Novice to Successful Professional, Dirk Zeller

Stick around the real estate industry for a minute and you’ll become familiar with the name Dirk Zeller. A highly respected coach, speaker, author and CEO of Real Estate Champions, Zeller brings the business of real estate down to the basics.

We like that he’s a fellow fan of mentorship and gives tips on how to go about finding your mentor. We also like that the very first chapter is devoted to the first step every almost-licensed agent must take: choosing a broker.

Here’s a quick sample of some Amazon reviews:

  • “My only advice would be to read it before you even get your license. Then when you are licensed, you can hit the ground running.”
  • “Packed full of real strategies and examples for all aspects within your business.”
  • “Is less about motivational thinking and more about what to do and how to do it.”

Zeller also authored the widely acclaimed “Success as a Real Estate Agent for Dummies.” Once you get the basics from “Your First Year …” you may want to dive into the Dummies book.

Total pages: 336

Publication date: August 3, 2010 (2nd edition)

Available at: Amazon.com, ThriftBooks.com, AbeBooks.com. Barnes&Noble.com

Before You Are Licensed: 13 Actions to Jump Start Your Future Real Estate Career, Katherine Scarim

It’s no secret that women are the experts at multi-tasking. Broker/owner of Island Bridge Realty in Jupiter, Florida and mom to 5 kids, Katherine Scarim is a perfect example. Where she found the time to write a book we’ll never know.

As a new agent, you’ve no doubt heard the oft-given advice to “Put away three to six months of living expenses” before jumping into real estate.

“If you’ve got that kind of money, then you don’t need this book. If, however, you aren’t sitting on a pile of cash, you have no choice but to hit the ground running the minute you are licensed,” Scarim says.

And that is exactly what this book suggestions for new real estate agents sets out to help you do.

Reader reviews include:

  • “This book made me breathe a sigh of relief and gave me some insight on what to expect and what to look for when I am finally licensed.”
  • “I know I will be referencing this again and again. For its price, it’s a must read for the business.”
  • “The most appealing thing about this book is how the 13 actions listed in the book are simplified in easy-to-understand information.”

Total pages: 54

Publication date: November 5, 2015

Available at: Amazon.com, AbeBooks.com, Barnes&Noble.com

Success Is in Your Sphere: Leverage the Power of Relationships to Achieve Your Business Goals, Zvi Band

Relationships–building them, nurturing them–are the cornerstones of creating a successful real estate business. The time to begin construction of these relationships is immediately.

But how?

Zvi Band, cofounder and CEO of Contactually, shows you how “… to deepen your personal connections to achieve your professional goals” in this quick-read

Chasing after new contacts is the focus of far too many, he claims. Instead, “… strengthening your connections with the key people who will help you drive your business forward” is a far more effective approach.

His strategy is customizable to your business and he even offers suggestions on “… high-yield tools …” to use on social media.

As far as book suggestions for new real estate agents goes, this one’s a solid choice. Here’s what readers say about the book:

  • “The book does not preach, and the author insists that the chapters are simply “ingredients” for the reader to put together based on what’s relevant to them. The stories are compelling …”
  • “Zvi provides concrete examples of how to manage your time, how to lean on your contacts for more business, and provides personal examples of follow up strategies that make you stand out from the rest of the pack.”
  • “As an introvert, I appreciated the simple and repeatable advice that would help me get over my initial hesitancy to reach out.”
  • “The perfect book if you want to know how best to look after and develop relationships with your customers”

Total pages: 288

Publication date: May 15, 2019

Available at: Amazon.com, Barnes&Noble

The Politically Incorrect Real Estate Agent Handbook: A Serious How-to Manual with a Sense of Humor, Peter F Porcelli Jr.

We LOVE this book. Yes, the flow charts can be a bit tedious to read with so much information mashed together, but the information is priceless, so we slogged through. Man, were we glad we did.

Here’s why it makes our list of book suggestions for new real estate agents:

Porcelli comes from a real estate background where he was a broker and brags of “… selling stuff to people.”

Chapter one of the book is stuffed with amazing information for the rookie:

  • Day one in real estate
  • Nine ways to get in the game
  • How to choose a broker
  • How to be a great real estate agent

and more. And it’s all told with a brilliant sense of humor.

Total pages: 370

Publication date: October 3, 2017

Available at: Amazon.com

These are just a few of our book suggestions for new real estate agents – Be sure to do some browsing on your own to find the perfect fit for you!

Easy Agent Pro Blog, Lead Generation, Promotion

5 Steps to Building a New Real Estate Business

Passing the real estate licensing exam gives you the opportunity to make scintillating cocktail party small talk. Imagine how impressive you’ll sound when you share that there are 43,560 square feet in an acre and when you describe the difference between riparian and littoral rights.

That little piece of state-issued paper also acts a bit like rocket fuel, propelling the newbie into an imagined stratosphere of huge commission checks and overnight success.

Then, the splashdown, which generally occurs the first day you spend in your new broker’s office. It’s the dirty little secret that real estate school doesn’t share: you have no idea what you’re doing.

This is why brokers have training programs. They teach newbies how to go after clients, how to fill out listing and purchase agreements and, hopefully, the rudimentary aspects of what to do during a listing presentation.

The day-to-day aspects of how to start a new real estate business, however, aren’t usually taught. While this knowledge eventually comes with time and experience, there are steps to take to get your real estate career off and running in the right direction.

1. Learn from the Best

Most experienced agents agree that the first thing a new agent should do when considering how to start a new real estate business, aside from finding a broker with an amazing training program, is to find a mentor. Look for “somebody that knows what he or she is doing, is successful and who is willing to teach you,” Dano Sayles with Hawaii Life Real Estate Brokers recommends.

Watch the more experienced and successful agents in the office, choose one and ask if you can hang out with him or her during the business day. Go on listing calls, buyer showings and open houses. Watching a successful agent in action and then modeling the behavior is a sure-fire way to learn the ropes.

2. First Year Roadmap

The first year in real estate is one typically spent building your business. Think of yourself as a start-up and commit to making a business plan during your first week.

This business plan will be your roadmap through the twists and turns of your first year in real estate. Determine your destination first – where do you want to be, financially, by the end of the year?

Once you know the destination, you can fill in the rest of the plan with activities that will get you there. How many closed deals will you need to nail that figure? How many contacts will it take to get those deals? The latter is a difficult question to answer when you’re first thinking about how to start a new real estate business, so run it by your mentor or broker.

Next, add your marketing plan and budget to the business plan. If, like many agents, you’re starting your business on a shoestring, your budget will determine how and to what extent you market yourself.

Free business plan templates are available all over the internet.

3. Build your Brand

Regardless of your broker’s brand, you’ll need to determine your personal brand when considering how to start a new real estate business. What sets you apart from other agents? It’s a tough question to answer, especially if you’re new to the business, but answer it you must.

Consider your interests, motivations, educational or professional background and your target market – anything that makes you different from most of the other agents in town.

Once you’ve found a brand that feels right, build it into your business cards, marketing materials and website.

4. Assemble your Tools

The number one necessity for your tool kit when thinking about how to start a new real estate business is a laptop or iPad. This is the one tool, aside from your smartphone (which we are assuming you already have), that you’ll depend on the most to keep track of prospects, clients, listings and deals so it’s critical to have it from day one.

Next, you’ll need to add some productivity software and at the top of the list should be customer relationship management software (CRM).

When you search online for software, you’ll see that everyone and their brother seems to be hawking it to real estate agents. Take the time to read reviews and talk to other agents in the office about what they use before settling on anything.

A good place to start when looking for software reviews is g2.com.

Then, spend the money to get a robust solution, one that not only manages your interactions with leads and clients but allows you to automate marketing campaigns and client retention efforts. You’ll be glad you did.

Finally, even if your broker has a website, get your own Easy Agent PRO site. Every marketing piece you produce should drive people to your site where you have, at the very least, a lead capture system, an IDX so that buyers can search for listings and a blog.

The biggest mistake you can make when considering how to start a new real estate business is to try to save money by opting out of an IDX system on your site.  Real estate consumers shop almost exclusively online when they first decide to buy or sell.

Buyers want to see listings and many sellers do too (to see how their home stacks up, price-wise). You can either fulfill these wants or inadvertently send these prospects to someone that will.

5. Shout it Out

Once you have loaded the contact information of everyone you know (your “sphere of influence”) into your CRM, it’s time to give them a shout out about your new business. Do this via email, snail mail, phone, text or social media, but do it.

Next, get involved in the community. It’s a great way to meet new people, thus expanding your sphere of influence.

The most important thing to keep top-of-mind when starting out is that real estate isn’t a new job or even a new career – you are starting your own business.

Throw out everything you know about being an employee and start thinking like a business owner. Take the baby steps to give your new startup a strong foundation.

Check back soon for more tips for how to start a new real estate business!