Thread: Practical advice for newbies.

Understand right now, that all of your clients have selective hearing and a selective memory. Record in some way, their decorum, their attitudes and your conversations because you’ll need those notes.
When everybody else speeds up, you slow down. Don’t compromise your profession by moving too quickly.
If you’re doing a listing presentation, try and get everyone who’s on the Deed in one room, once.
Unless you have a Law Degree, you cannot interpret or explain the contract. Give the client a copy and refer them to competent Real Estate counsel.
Always ask the bank if they looked at the appraisal, BEFORE the closing day.
Anticipate now, that if a 2nd appraisal is needed, they 100% of the time will NOT agree with the first appraisal. This of course will delay your closing, costing you even more money.
Business Relationship Agreement(s) in the 21st Century are irrelevant because there is no way to verify your client is shopping with another agency. Just deal with it.
Don’t waste your money in the beginning buying expensive gadgets: We made it this far as a species without them.
Don’t expect your new client whom you’ve shown five houses to thus far that met their criteria, to remain loyal. No matter how much you spent on their lunch and how kindly you spoke all day.
Once you have your check in your hand, THEN you can celebrate.
IF you can afford it, take 10% of your earnings and invest it in yourself.
Understand now that not many people make it beyond three years.
If you live in a really rural area, obtaining your Luxury Home Specialist designation won’t help you unless you’re planning on moving to Hollyweird.
If you get to keep 100% of the commissions, you can bet you and all of the other agents in the bullpen each are paying the franchise owner $24k a year to have the privilege of working with a known outfit.
All sellers want three times what they paid for their house. Look at their contracts with their lender. Determine a reasonable selling price and ensure they’ll have the closing costs so you get paid. If they won’t listen to reason, refer them out and give the referring agent the heads-up.
All buyers are criers.
Showing eight homes in one day to a client especially one who came a great distance, is normal.
Understand that people who need to qualify for a loan in order to buy that foreclosure will be placed on the bottom of the offers pile the bank/foreclosure owner gets.
Just because your client has a criminal record, doesn’t mean they’re out of the game.
Always call the listing agent to ensure that the homes aren’t expiring that afternoon or they’re ready for a renter, or they’ll accept smokers and pets BEFORE you take your clients out.
If your new clients don’t fax over the required info to you or refuse to answer your calls or emails, it’s not you, it’s them.
Each one of your clients has their own version in their heads of how many hoops you must jump through before the walls come down. Just deal with it.
Your broker is there to help you: ask them questions, even if you think you know the answer.
Don’t take lip from any selling agent. They’re going to try and convince you that “you’re going to blow the deal if you do _______”. Yeah, right. The bank’s got the final say dipshit.
It’s okay to say no to unreasonable requests. Such as going out at dusk to that one development that’s 45 miles away while you’re unarmed.
If guns don’t scare you and you can legally carry one, don’t be a fool and walk into a “vacant” foreclosure that’s been on the market for a year: Can you see into the basement? Or upstairs or around corners?
Most sellers and buyers want to be educated today. They don’t want that quick talking 70’s mustache, leisure suit wearing, Larry from Threes Company salesman nonsense. Yes, these archaic agents still refuse to retire.
Younger first timers don’t understand how banks work: educate them and expect to repeat yourself many times because until they understand, they’ll be calling you at 9:01am Monday morning asking you if “You’ve heard anything”.
Try and grab all the floor time and open houses you can to build your book of business.
Pretty faces and slim figures will generate a lot of income.
Lastly, if you expect nothing, you’ll never be disappointed.
Good luck.
CM