It’s some of the best advice I ever received…
When I was about 20 years old, my mentor W.E. “Bill” Mitchell told me:
“Don’t focus on money. Focus on learning everything you can about your chosen field.”
And I think that advice is just as applicable to you as a real estate agent as it was to me all those years ago… especially if you’re a new agent! But really it rings true for anyone in our industry.
Here’s the cold, hard truth: Real estate school didn’t teach you how to be great in this business. So I’m going to expand on Bill’s advice a little with 10 things real estate school didn’t teach you… but you need to focus on, learn, know, and do.
“Need to Know” No. 1: Know the Clients
How well do you know the people who buy and sell homes in your marketplace?
How well do you understand them? Their motivations? Their aspirations?
Because if there’s a disconnect there, you’re not going to be successful.
Knowing how these people think and act are essential to your success.
If you don’t know, you need to put in the work to gain that understanding. Join networking or community groups. Strike up conversations at local events. Invite people you don’t know from your database out to lunch to pick their brain and get to know them.
The better you know your clientele, the more successful you’re going to be.
“Need to Know” No. 2: Know the Corporate Players
If I asked you about different real estate companies in your town, could you identify what they’re known for?
Could you tell me about what type of clientele they attract? Or the types of properties they primarily list?
Knowing these things will give you a leg up on the competition and allow you to speak confidently with prospects who might be considering listing with one of those companies. You’ll better understand how to position yourself against their strengths and win the business.
“Need to Know” No. 3: Know the Competition
Who are the big players in your market? What do they specialize in? How do they generate business?
And here’s a big one… Would they let you “shadow” them for a day or two?
One of the best ways to learn this business is to model what the very best agents are doing.
Also, after conducting your research, ask yourself this: What gaps exist in the market that no one is serving? (Can you create a niche from it?)