87% of real estate agents fail out of the industry within the first five years, but by following these five tips, agents can create extremely lucrative careers and live a life of freedom.

Video Transcription

Alright, guys so you just got into the business you’re probably excited gung-ho ready to get started but you’re a little nervous because you’re not sure what to do. Today I want to give you guys five tips that you can apply to your business to make sure you’re not in the 87% of Realtors who fail.

Tip #1

First tip is you need to find a great brokerage, a broker that you can serve under, and there are two things I would look at here. One is look at the training that they can offer to you. Don’t sign up with a brokerage that’s not going to give you one-on-one training that’s not invested in training their new agents. And then the second is what systems can they offer you to get you started? The reality is when you first get into the business, you don’t have a lot of money, so these brokerages and brokers can help you by providing you some of the basic systems you need.

Tip #2

The second tip to help you as a new agent is you need to define what I call office hours. It’s not a regular job anymore, but you can’t treat it like a hobby though; you need to make sure you set aside time. I would encourage new agents to make sure that they go to the office because it will help you get in the zone it will help you create a routine.

Tip #3

Make sure you have a CRM for your business. A CRM is a customer relationship management tool, and it’s gonna help you manage the clients and appointments that you have.

Tip #4

The next tip I’ll give you is you need to prospect. You can’t just rely on your friends and family when you get into the business. You need to start prospecting, start lead generating, use your CRM to set up appointments,  get on the phone,  start door knocking, go face-to-face. I recommend, if you remember from a previous video, to prospect at least an hour to two hours each day.

Tip #5

Then the last tip I’ll give you as a new agent is to find yourself a mentor or a coach. Guys, the reason why 87% of real estate agents fail is because they’re not used to not having a boss that tells them what to do. You need a mentor or a coach that’s gonna hold you accountable to your goals and make sure you accomplish them. When you look to choose a coach or a mentor choose someone that’s done what you’re hoping to do. Someone that’s been there, done that. That can give you real solid advice.

The takeaway

There you have it guys, tips to make sure you don’t fall into the 87%. If you liked these tips subscribe to our YouTube channel, and comment below to let me know about your experience. If you just got into the business are you nervous let me know. You know if you’re a veteran agent, let me know what experience you had as a new agent. Check us out on Facebook and Instagram but most importantly guys take action on this today.