Starting out as a real estate agent can be intimidating. The lack of experience, a client database, funds—we get it!
Our president, Luke Acree, has years of experience working with both new and veteran agents, including working with his brother Stephen who he convinced to become a real estate agent. Luke has been coaching Stephen for years. Together, they’ve experimented with different marketing strategies and tactics to find out what works (and what doesn’t!). Last year, Stephen closed 195 transactions. Today, in his 5th year as an agent, he and the team he built have already had 236 transactions.
Luke’s time working with thousands of agents every year makes him the perfect person to provide practical answers to the questions so many new real estate agents have.
So if you’re a new agent, grab a pen and pad. This one’s for you!
1. What are the first 3 things I should do as a real estate agent?
Luke offers three very practical and easy-to-implement suggestions that every new agent can get started on right away. His first suggestion may be the most important action you take during your entire career.
2. What lesson can you teach me now that typically take agents years to learn?
Some people seem to prefer to learn things the hard way. We’re assuming you’re not one of those people. Luke has some simple wisdom that, if you take it to heart, will change your perspective about what it means to be a real estate agent.
3. What lead generation strategies produce the fastest results?
We are constantly hearing new agents ask how to get more leads. Lead generation isn’t always a quick process, but Luke suggests 4 tried-and-true strategies you can implement today to get faster leads.
4. Do I really need to knock on doors and cold call prospects to succeed as an agent?
We typically encourage door knocking and cold calling, but we understand it isn’t for everyone. The short answer is no, but Luke’s answer comes with a significant caveat.
5. What do agents tell you is their greatest challenge, and what advice do you give them?
Not too long ago, we did an informal survey among the members of our ReminderMedia Community group on Facebook where we asked this question. Surprisingly, the challenge wasn’t about leads. Listen to the interview, and see if you experience the same pain point.
6. What makes the difference between an agent who’s still working after their first year and one who doesn’t make it?
According to the National Association of REALTORS® (NAR), only 87% of real estate agents make it past their second year. It’s sad, but it isn’t necessary. We’ve recognized ONE thing can make the difference between long-term success and failing before you really even begin.
Bonus: If I had to read only one book or listen to one podcast, what should it be?
Podcasts and books are amazing sources of new information. We have a blog you might want to check out that reviews The 5 Best of the Best Real Estate Podcasts of 2021. We’ve also got a list of books we recommended in 2018 that’s still highly relevant. Here, Luke gives his personal recommendation for the top podcast and book for real estate agents.
We hope you find Luke’s tips and suggestions useful. If you did, then share the wealth. Share this video with you mentee or another agent you know who’s new to the industry.