What Experienced Agents Wish Newbies Knew Part 2

On this episode of The Closing Table, we had experienced agents share what they wish newbies knew!

To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…

Here’s what you missed…

Throughout their careers, real estate agents gather valuable lessons that shape their approach to the business. From the significance of social media to the importance of personal safety, these experiences highlight the realities of working in the field. Here are some of the key takeaways, shared through the voices of seasoned professionals.

While some may view social media with skepticism, many agents have found it to be a powerful tool. One agent reflected on its value: “Social media can get a really bad rap, but if you use it in the right way, it’s free and an organic way to reach people.” In fact, for some, it can be a game-changer in building their career. As one agent shared, “My first listing came from Facebook.” The ability to connect with potential clients through platforms like Facebook, Instagram, and LinkedIn allows agents to expand their reach without the hefty price tag of traditional advertising.

In real estate, verbal agreements can be risky, even if the law permits them. “Even if the real estate law states that you can verbally retract an offer, get it in writing,” advised one agent. Clear documentation helps protect both the agent and the client, avoiding potential misunderstandings or disputes. In an industry where deals can move quickly, having everything in writing provides peace of mind and clarity for all parties involved.

Balancing work and personal life can be one of the most challenging aspects of the job. As one agent emphasized, “You have a life outside of real estate; it’s easy to be consumed with this job.” Another added, “Your clients will respect you more for it.” Establishing boundaries not only protects an agent’s personal time but also demonstrates professionalism. Clients who recognize and respect these limits are more likely to value the agent’s time and expertise.

Real estate isn’t just about houses and contracts—it’s about safety too. Agents often find themselves in unfamiliar locations or meeting strangers in vacant properties. “If your gut is telling you not to go in a house, trust your gut; it’s not worth the risk,” advised one agent. Some have even found themselves needing assistance: “I’ve needed to call local law enforcement for backup a couple of times.” Ensuring personal safety should always be a priority, no matter how enticing a deal might seem.

Real estate is not for the faint of heart. “I really needed to toughen up a lot if I was going to do this long term,” admitted one agent. It’s a mentally demanding career, often compared to running a marathon. Another added, “It’s a grueling process; your mind is on a marathon.” The competitive nature of the business, coupled with the emotional highs and lows, demands perseverance and resilience.

Next, clear and straightforward communication with clients is crucial. “I don’t beat around the bush with any of my clients; I’m very direct with them,” one agent shared. This transparency helps build trust and ensures that clients are fully informed. For example, addressing potential structural issues upfront can prevent future surprises. “I will point out structural issues with the home and things they should be aware of,” they added.

Negotiation is a key aspect of real estate, and sometimes, agents need to be firm. “Put up or shut up; you’re either buying this house or you’re not,” one agent explained. Learning to stand up to other agents or indecisive clients is part of the job, as it helps move deals forward. “I have learned how to stand up to other agents,” they noted, emphasizing the importance of confidence in negotiations.

New agents can benefit from experienced agents’ wisdom, especially when it comes to home valuation conversations. “If you’re talking to people about what their home is worth, always let them answer you first,” one agent advised. Everyone has their own perception of their home’s value, and letting clients express their expectations first can help guide the conversation. One agent shared an example of a positive response from a client after taking this approach, which helped build rapport and trust.

Real estate often involves tough conversations, especially when it comes to home valuations. Agents must be prepared with data and evidence to support their assessments. “I present them with tons of information, irrefutable data, and evidence,” one agent said. Having concrete facts on hand not only builds credibility but also helps navigate emotionally charged discussions.

Many agents make mistakes early in their careers, often due to a lack of communication or persistence. Failing to understand clients’ needs or giving up too soon can result in missed opportunities. “It’s not because they’re a bad agent… it’s more so because they are in the wrong place,” one agent reflected, highlighting the importance of finding the right fit in the market.

One of the perks of real estate is the flexibility it offers. “If I want to go get my nails done on a Tuesday, I can,” one agent shared. However, this flexibility comes with the responsibility of constant availability. “There is not one day since… that I have not worked,” they added. Managing client expectations and juggling tasks throughout the day requires effective time management skills.

Despite the demanding nature of the business, setting boundaries remains crucial. “If somebody texts me with a question… I’m not answering,” one agent said firmly. This approach helps prevent burnout and ensures that personal time is respected. However, the fear of losing clients can be overwhelming. “I was so scared to lose a client… they would go find somebody else,” one agent admitted, a common concern in an oversaturated market.

Managing client expectations is a balancing act. Agents must ensure that clients understand they are not being ignored. “If you do not hear from me, I’m not ignoring you,” one agent explained, emphasizing the importance of timely communication. “I will always get back to you, at the latest, it will be 24 hours,” they assured.

In the end, the respect clients show for an agent’s boundaries strengthens the professional relationship. “When they respect those boundaries, it makes you want to cross those boundaries so much more,” one agent confessed. After all, agents have lives and families too, and maintaining that balance is key to long-term success in the business.

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