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Surviving The First Year—Three Simple Rules Every New Real Estate Agent Needs To Follow

Today we are sharing three simple but effective rules, combination of which proved to be the success key for hundreds of agents.

By Richard Du July 28, 2017

Every year, thousands of people successfully obtain real estate salesperson’s license and join the already overcrowded real estate industry. Unfortunately, roughly 87 percent of these new agents will fail by the end of their first year and move on to work in different fields.

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It’s not as if all these unsuccessful agents were predestined to failure, or lacked talent and desire to succeed. Real estate is a notoriously tough industry, merciless to rookies. Some of the freshly-licensed agents join reputable brokerages with a clear training process and mentorship. Others end up in companies where they get thrown in at the deep end. In the second case, survival largely depends on the new agent’s existing business connections, wit, and, sometimes, sheer luck.

And yet, everybody has a chance to make it in real estate industry—as long as they meticulously adhere to several important principles. Today we are sharing three simple but effective rules, combination of which proved to be the success key for hundreds of agents.

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Exercise Common Sense

A not-so-common virtue, common sense implies that a person has the ability to judge and decide with intelligence. Unfortunately, instead of using their thinking ability, many people would rather let others do their thinking for them. The results can be quite damaging. You have probably seen numerous internet articles mocking certain realtors’ poor photography skills—an embarrassment which could have been easily avoided if said agents exercised their common sense.

The good new is that common sense may be developed—through observation, training, and experience. The secret here is to constantly learn through your experience—especially through your mistakes, which requires a good deal of humiliation and meekness.

Master Time Management

It is not just about being organized. Any real estate agent needs to perfect their time management skills to the state-of-the-art. How many hours a day will be allocated to cold calls? What about property research? Every activity needs to have a time budget and be meticulously recorded for the future reference—which leads us to another important point.

During the first year in business, real estate agents needs to have a list of daily activities—and stick to it religiously. Industry’s best practices, which always benefit real estate agents, include canvassing the streets in search of available spaces, cold calling, familiarizing yourself with the neighborhood, and networking with other brokers who are conducting business in the area.

Dress To Success

This last principle is not as simple as it seems. Wearing business attire while canvassing the streets and meeting clients across different parts of town might be difficult, if not downright impossible. In the same time, looking poised and professional at every meeting is crucial for real estate professionals. A viable solution here would be always having a spare business outfit waiting in the office. More tips on how to manage one’s appearance for real estate professionals can be found here.

Gone are the days when successful real estate careers were reserved to the lucky few. Technology, progress, and digital platforms like Agorafy have revolutionized the industry, simplifying once complicated workflow and making invaluable information accessible to everybody. Here at Agorafy we believe that the combination of discipline, perseverance and common sense is the magic recipe to achieve success in real estate. Follow the three basic principles—and the sky’s the limit.

Richard Du

ABOUT THE AUTHOR Richard Du

ABOUT THE AUTHOR Richard Du

Richard Du, founder and CEO of Agorafy, was born in Vietnam and raised in the United States. As a child, he worked to support his family until he had the chance to immigrate to the America. Here, he began his career as an agent at Helmsley Spear, which he eventually parlayed into a lucrative real estate business. More than a decade later, Mr. Du is at the helm of Agorafy.

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