A new agent needs to understand that no one will be sending them clients. In general, real estate agents are required to find their own. Even those who join a team will still be expected to make a huge effort to find their own real estate agent Essendon . This effort is referred to as lead generation, the single most important thing an agent can do to generate revenue.
However, most agents hate lead generation and will do anything to avoid it. If you happen to be one of the few who enjoy it, count your lucky stars as you’re already at a huge advantage over your competition. Many agents say they hate lead generation due to fear of rejection and discomfort with asking people directly for their business. It can feel pushy, selfish, and greedy. I don’t believe these are the real reasons agents don’t like lead generation. I’ve seen enough agents ask for business in a completely natural way to understand that it doesn’t have to feel awkward.
I believe the real reason new agents don’t like lead generation is that they’ve never done it before, and nobody has told them it is essential to success in real estate sales. When you get your real estate license, you are essentially receiving nothing more than the right to earn a commission by representing a buyer or a seller on the purchase or sale of a house. This right is valuable to you only if you find a way to put it to use. New agents often mistakenly believe that getting their license is the functional equivalent of getting a job. It’s not! Jobs pay you for showing up. Owning a business pays only when you find customers. The real estate agents who figure this out the quickest tend to get off to a fast start in the industry.
Why Most Agents Don’t Succeed
As a licensed real estate agent, you don’t work a job?—you own a business. There is a big difference between the two. If you bring a job mentality to owning a business, you will find yourself confused and frustrated.
That last difference is where most new agents experience culture shock. Nearly every job most of us had before becoming a real estate agent involved someone else finding customers for us to service. When we bring this mindset into our new business, we are set up to fail. Owning a real estate business is like working as a server in a restaurant. You must know the menu (the market), make solid recommendations (advice on the right house or the right list price), communicate with the kitchen (lenders, title, escrow companies, etc.), coordinate the delivery of the food (manage your escrow timelines), and keep your customers happy and satisfied throughout the dining experience (buying or selling process).
The one big difference is that in a restaurant, customers are brought directly to your table. Owning a real estate business is like being a server who’s required to go find customers and then convince them to come to eat at your table! This requires skills many of us haven’t developed. We are comfortable serving the customer, but finding them, convincing them, and then closing the sale requires a completely different skill set. Once you understand this, you’ll be on your way to adopting the mindset you’ll need to become a successful agent.