New Real Estate Agent Checklist

The New Real Estate Agent Checklist: Your Blueprint for Success  

Written by: Jason White

Are you a new real estate agent looking to build a successful business? Look no further - we've got you covered with the ultimate checklist for success. In this comprehensive guide, we'll outline the steps you may consider to establish yourself as a true professional in the industry.

From creating a powerful personal brand to developing a robust network of industry contacts, we'll show you exactly how to position yourself as the go-to agent in your area. You'll also discover invaluable tactics for generating leads, converting prospects into clients, and closing deals with finesse.

Our checklist will help KickStart your real estate sales career with confidence and expertise. Packed with insider tips and proven strategies, this blueprint for success will equip you with the knowledge and skills needed to thrive in this competitive industry.

Take advantage of this opportunity to launch your business. Start checking off the boxes on your journey towards becoming a top-producing agent today.

 

The role of a new real estate agent

As a new residential real estate agent, your primary role is to guide clients through buying, selling, or renting a property.

You'll have many responsibilities, from explaining the buying process to first-time homebuyers, conducting market research and property valuations, writing and negotiating contracts, and facilitating the closing process.

In the competitive field of real estate sale, new agents must identify and cater to each client's unique needs, whether they are first-time homebuyers, seasoned investors, or homeowners looking to sell. Effective communication, problem-solving skills, and a deep understanding of the local market are essential for success in your career as an agent.

Moreover, new real estate agents must be able to navigate the ever-changing regulatory landscape, staying up-to-date with the latest laws and regulations, such as the NAR settlement rule changes for Realtors in the US.

Your commitment to continuous learning and a willingness to adapt to market changes can position you as a skilled agent in the minds of your clients.

 

The benefits of having our checklist

As a new real estate agent, figuring out what to do next can be overwhelming. That's where a comprehensive checklist comes into play, providing a structured framework to guide you.

One of the primary benefits of having a checklist is that it helps you stay organized and on track, ensuring that critical steps don't fall through the cracks.

By starting at the top of the list and checking your way down the list, you can prioritize your efforts and stay focused.

Moreover, the KickStart checklist can serve as a valuable reference point, allowing you to quickly review and verify that you've completed all the necessary actions, from finding your sponsoring broker to starting to market yourself. This list helps you avoid costly mistakes and wasting valuable time.

 

Realty KickStart's New Agent To-Do List

Here's the new real estate agent checklist you're looking for. Check off each item on the list as you complete them.

 

• Interview brokers and choose one to sponsor you.
• Transfer your real estate license to your new broker.
• Choose a business email address and phone number (if personal phone, record a professional VM greeting).
• Set up a professional email signature (ask your broker about legal compliance).
• Send a text message announcement to your friends and family (also known as your sphere of influence)
• Order 50 business cards.
• Activate your MLS and lockbox subscriptions.
• Install apps on your phone for MLS and Supra lockbox access.
• Take a class on how to use the MLS software at your local Board of Realtors.
• Begin learning about the neighborhoods in your area.
• Review the paperwork needed to purchase a home.
• Curate three business-appropriate outfits.
• Have your car's interior professionally cleaned - You never know when a prospective client will contact you to see a home. (Note: check with your auto insurance agent for correct coverage if you drive clients around).
• Stock up on healthy snacks for self-care breaks.
• Create your schedule
• Reserve an hour every day to learn how to KickStart your business.

 

Next, learn essential skills for success.

To thrive as a new real estate agent, you must develop a unique blend of skills and qualifications that set you apart in the industry. From in-depth market knowledge to exceptional communication abilities, these attributes will be the foundation upon which you build your book of business.

One of the most critical skills for a new real estate agent is a deep understanding of the local housing market.

Local knowledge includes:

• Staying up-to-date on current trends.
• Understanding property values.
• Knowing about new developments.
• Understanding the lifestyle each neighborhood or building offers.

Demonstrating your expertise in your local area will establish you as a trusted advisor and valuable resource.

Strong communication and interpersonal skills are also paramount for a Realtor. As a new Realtor, you'll explain the buying processes to clients, show properties, write offers, negotiate contracts, and work with stakeholders such as a mortgage lender, title insurance company, or attorney. Mastering active listening, empathy, and the ability to tailor your approach to each individual's needs will go far for your success.

 

Building a strong referral network

For established agents, a large percentage of sales (50% or more) come from referrals. Your goal should be to increase the referrals you receive each year.

Personal networks and a client base are the lifeblood of your business. Building and nurturing relationships should be a top priority for a new agent because the relationships will provide you with a steady stream of valuable referrals.

One of the most effective ways to build your referral network is to actively engage with your local community. Consider joining professional organizations, volunteering at church, joining your child's school PTA, or working at community events. These social gatherings will allow you to connect with potential clients in the market for your buyer representation or leasing services.

 

How to start the flow of referrals

The first step is to contact friends, family members, and former colleagues to let them know about your new job as a real estate agent and ask them to keep you in mind if they know someone looking to buy, lease, or sell a home. Most of your contacts will be delighted to help, and the warm leads they send you are like gold...treat them as such.

 

Managing your finances and budgeting effectively

As a new real estate agent (and now a business owner), managing your finances and budgeting will help keep you in business.

Please understand that real estate commissions are seasonal and unpredictable, so maintaining 2-3 months of cash reserves and being cautious of unnecessary spending is essential.

For most of us starting in real estate sales, saving 2-3 months of business and living expenses is tough. So, start small, such as with $500 in savings, and add to that cash cushion each time you get paid. Dave Ramsey has a simple guide for establishing financial stability. The good news is that agent commissions are pretty big, so you can build your cash cushion faster than you think!

One of the first steps in managing your cash flow is to create a basic budget on a spreadsheet that accounts for your business expenses, including licensing fees, advertising costs, and any overhead associated with running your real estate practice. Adding a section on the spreadsheet for your living expenses is helpful, too.

By carefully tracking your expenses, you can see where to cut costs so you can better manage your money. Consider cutting expenses where you can (such as streaming TV services) and put that money to work to advertise your buyer or seller services.

By the way—remember taxes! Many agents fall victim to owning the IRS for back taxes. Consider setting aside a portion of your commission (15% -20 %) the day you get paid for income taxes. You'll thank me later!

Warning: Save a few bucks for the slow season. Real estate sales are seasonal, meaning you'll make more money in the spring and summer and less in the fall and winter. A best practice is to set aside three months' worth of business and personal expenses during the summer selling season to get you through the slower season. The alternative is to have a side hustle lined up for the fall and winter months. Buzzfeed put together an interesting list of ideas to earn extra cash.

 

Benefits of finding a mentor or joining a real estate team

As a new real estate agent, navigating the industry solo can be daunting and will likely impede your success early on. Finding an experienced mentor or joining a well-established real estate team can launch your learning and development.

A mentor can provide you with invaluable guidance, insights, and support as you navigate the complexities of the real estate industry. They can share their knowledge of the local market, offer advice on best practices, and help you avoid common pitfalls that new agents often encounter. Learning from their expertise and experience can accelerate your professional growth and develop the skills and confidence needed to succeed. How do you find a mentor? Ask a friend who may be an experienced agent or pay for online real estate classes authored by a seasoned broker.

Alternatively, joining a real estate team gives you a built-in support system, resources, and a collaborative environment that can be instrumental in your early career. Teams offer new agent training, buyer leads, administrative support, and ongoing mentorship or coaching to help you develop your skills. This team-based approach can be particularly beneficial for new agents, as it allows you to leverage the collective knowledge and experience of seasoned professionals while you develop your skills. However, working on a team does have its price. In most cases, you will give 50%-60% of your commission to the team leader in exchange for the training, support, and leads they provide.

 

Establishing your online presence

In today's digital-driven world, establishing a visible online presence is crucial for new real estate agents looking to stand out in the crowded marketplace. From creating a professional website to leveraging social media platforms, a well-crafted online strategy can help you reach a wider audience, showcase your expertise, and generate steady leads.

One of the first steps in building your online presence is creating a professional website that reflects your personal brand and showcases your unique value proposition. The website should include an overview of your services, testimonials from satisfied clients, and a prominent display of your contact information on a mobile-friendly interface that makes it easy for potential clients to connect with you.

In addition to your website, it's essential to establish a strong presence on social media platforms such as LinkedIn, Facebook, and Instagram. These channels provide an opportunity to share valuable content, engage with your target audience, and showcase your expertise in the real estate industry (yes, prospective clients will Google you to see what you're up to and look for reviews).

By consistently posting updates, sharing market insights, and interacting with your followers, you can build a loyal following and position yourself as a trusted authority in your local market.

 

Developing a marketing and advertising strategy

Effective marketing and advertising set you apart from average agents. By developing a comprehensive strategy that combines both traditional and digital marketing tactics, you can attract a steady flow of high-quality leads and establish your brand as a go-to resource for buyers, sellers, and investors.

One of the components of a successful marketing strategy is the creation of eye-catching and informative print materials, such as business cards, flyers, and brochures. These physical assets can be distributed at local events, open houses, and networking opportunities, helping to raise awareness of your services and build your reputation as a knowledgeable and professional agent.

In addition to traditional marketing, you can leverage the power of digital advertising to reach a wider audience. Advertising can include running social media ads, optimizing your website for search engine visibility (SEO), and leveraging platforms like Google Ads to promote your services.

Integrating these digital tactics with your traditional marketing efforts can create a well-rounded strategy that drives consistent lead generation and client acquisition.

 

Always continuing learning

In the fast-paced and ever-evolving real estate industry, a commitment to continuous learning and professional development is essential for new agents looking to stay ahead of the curve. By regularly engaging in educational opportunities and seeking opportunities to enhance your skills, you can position yourself as a knowledgeable and adaptable agent equipped to navigate the changing landscape of the housing market.

One of the most valuable resources for new real estate agents is to invest in a training program, live workshop, or certification course offered by industry associations, brokerage firms, and education companies. These programs can provide in-depth knowledge on topics ranging from creating your value proposition and personal brand to generating leads to effective client communication and negotiation strategies.

By continuing to learn daily, you can accelerate past your competition and deliver the highest quality service to your clients.

 

Conclusion

By continuously expanding your skillset and staying up-to-date with the latest trends and best practices, you will position yourself as a true expert in the field and set yourself up for long-term success and a considerable income!