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4 Big Myths Of A Career As A Property Agent
When you are being recruited to become a property agent, recruiters will shower you with all the lovely stories on the pros of being one. The cons are of course, conveniently left out. But as a job-seeking adult, you should already know that stories are to be taken with a pinch of salt. And that there are always 2 sides of a story. It’s not that recruiters blatantly lie to you so that they can add an additional staff to their sales force. It’s just that you are expected to make your own career decision after doing your research and covering the information you need. Here are 4 big myths to debunk.
1) All you need to do is sell
There might actually be some truth in this. The best salespeople in the world can churn out an envious income no matter what they are selling. And sales skills are essential for success as an agent. But don’t neglect the fact that as a licensed agent, you have more responsibilities resting on your shoulders than just your monthly commissions.
Buyers’ and sellers’ financial well-being are in your hands to a certain degree. And you are fully expected to be fluent in the transaction process. Failing to explain them to your customers will not inspire confidence in your confidence.
It takes work to learn and internalize the soft skills required to be a great agent. The moment you obtain your license is not the moment a doctor prescribes you a magic pill to conquer the market on the west side. Anyone trying to put that magic thought in your mind is over simplifying the whole job description.
2) You get to work less and make more money
Even a newbie who has no idea of how the real estate market works will implicitly understand that if you get a lead generation system going on autopilot, you are pretty much running into the home stretch. Successful agents and recruiters will want you to believe that. And it can be very convincing.
But as you might suspect, it is not as simple as it sounds. Because even if you don’t have to spend time in the afternoons sweating in your Armani suit canvassing for prospects, you will have to spend time building and maintaining your lead generation system. There isn’t a button where you can push and everything will fall into place and your first prospect will call you tomorrow. No.
Even if there is such a magic button, you can expect the veterans to protect this secret to the best of their abilities. You need to uncover what is behind the curtain of these mythical systems and sneak a peek inside. Then you need to build it yourself while keeping the secrets away from others. No one will put their bread and butter on a plate for you. And you should expect nothing less.
The next time someone reveals their latest cutting edge techniques, ask yourself what are the mechanics behind them.
– Can you estimate the amount of new customers you can acquire?
– How much money and time do you have to invest?
– Have the new techniques been tested with verifiable results?
– Will it perform better than what you are already doing?
3) Once you attain a certain “level”, you don’t have to prospect anymore
The reason why this myth is one of the most challenged is that people seldom see the top performers do the same stuff as rookies do. But you must be kidding yourself to think that they have their own portfolio of past clients to tap into each and every month.
You can be sure that do go about prospecting as well. Just that they usually do it differently from beginners. They are able to do this via networks and strategic partnerships built through many years of slogging. And trust harnessed through years of working together with third parties. If they had just gone through the paces through those years without making an effort to build these gateways, they would be o different from a newcomer.
4) Family and friends should be the last people you prospect
The truth is that real estate is more of a pull industry than a push industry. It will be very difficult to convince a friend to buy a house when it is not even in his mind. It is not something that you can easily create a desire, then a need, and then a sale. You don’t need to unleash your prospecting arsenal on them at all.
What you should at least do is to let everyone know that you are in a new career. This is so that when the time comes where they need an agent, you will be an option.
When home buyers or sellers get into that situation, they will have to spend money on an agent anyway. So why not let that agent be you. It’s not like you are overcharging them or making them pay for something which they could get for free. For example, if you are going to buy a computer anyway, why not let a friend profit from it instead of a store that charges the same price.
Remember that a lot of junk that gets passed around in every industry are just myths. They are created by people to attract or scare off newbies who are entering the industry. Learn to identify what is real and what is not. And when things sound a little too easy, peel back the layers to see what is exactly required to achieve certain targets or milestones.