It can be both incredibly tough, and worth it, to get into real estate while in College. But you need to keep in mind that you may come across situations where one or the either may suffer.For example, Real Estate does not have set hours and usually requires working evenings or the weekends, especially if you are showing house. It also requires a constant follow up/ communication with other agents and especially with clients.You may also find it frustrating when you have deadline and are adding a lot of pressure on yourself.To begin with, you will need to pass you real estate exam which can take up to a year, depending on how fast and well your perform on the exams.Once you get past the exams successfully, you will start needing to build up your credibility to compete with other agents out there who have been in the business.Thatu2019s a secondary problem to have (but a big one). First you need to find quality leads to discover you and are willing to meet with you.But finding leads and converting leads into clients is not something that you should underewhen it comes to timing.Whether your part time or a full time real estate agent, you need use the Pareto rule- which states that 20% of your tasks are responsible for 80% of your results. So you need to understand early on what the most important 20% of your tasks are, and focus on those.Itu2019s not a cut and dry answer, that real estate need X amount of hours in order to be u2018successfulu2019. You have MANY agents who work around the clock, days, nights, weekends and are still struggling to get over certain hurdles.I donu2019t think time is the best indicator as to how successful you will be, itu2019s your strategy that will determine that. You know, work smarter, not harder.When you streamline your process, you will be able to become successful in real estate. If youu2019re just starting off, then one of the first things you want to do is to organize your database. You will need to organize the contacts you do have, family, friends etc. and segment them into different lists.Hereu2019s the step by step guide, for free, what you can use Kick Ass Real Estate Database GuideYour database throughout your entire real estate career will be VITAL so keep the habits as you begin to collect more leads.Next, youu2019re going to have to start generate leads. Donu2019t get too excited about the number of leads you get, because the true measurement that matter is how many of those leads convert into clients. To do so, youu2019re going to have to focus on getting quality leads, in order to minimize wasted time and budget.The cycle goes like this:getting leadsfinding quality leadsconverting leads into clientscompleting the transactiongaining referralsEach one of these cycles has its own set of strategies and stages. Even if you manage to get quality leads, youu2019re going to want to have credibility under your belt or else it will be really hard to beat your competitors.The best place to start to learn about mastering each stage of this process, and also gain credibility, would be the Seller Specialist course, which is included in the free trial of the GREL platform for only $25/month. You do get 7 days for free, so if you decide you donu2019t like it or itu2019s for you, thats no problem, you dont get charged if you cancel. This way you get to master aspects of the real estate market in hours, not years.Also, the Pro plan comes with 17 courses/specializations, 50 tools, 200 sales converting scripts, complete seller/listing and buyer presentation.Click here for the free trial linkStarting with the first part of the cycle, you need to start generating leads. You can get leads with both online marketing and offline marketing.Before i get into that, you also have to understand the costs associated with becoming a part time agent. Costs can include getting your real estate license, website, business cards, logo/design, ads, monthly server/domain cost, just list signs, for sale signs, brokerage fees and online ads (if anyone).Offline Marketing For LeadsCold CallingThe best time to make a cold call is between 4pm-5pm, second best is 8am-10amThe worst time to call is 11am-2pmThursdays are the best days to call followed by Wednesdays Tuesdays are the worst daysIt takes approximately 8 attempts to reach a prospect u2018The average sales person only make 3 attempts before quittingStand up and walk around when speaking on the phone, and remember to smile to change your physiology and tone of voiceUse descriptive words & start conversation by saying something positive. 63% of people remember a story, while only 5% remember stats, and smile when you talk.Give your sale through a story of a past experienceSet objectives as to what youu2019re trying to achieve: Call backFollow Up Set Appointment Fwd. Info & add get permission to add them to your databaseDoor KnockingResearch the neighbourhood thoroughly prior to door knocking, including homes for sales and homes recently sold in the areaIn addition to your existing CMA, research future city, schools and business plans and how it would affect the value of the homes in the area & thorough research onHave a script ready, with objectives to achieve & bring something to leave behind such as a business card and brochureGive yourself a goal of the number of homes to visit, number of leads to gain and number of appointments to set:Set Your Door Knocking Goals Contact Rate = # of answered / # of knocksAim for 30-40%Lead Rate = #of leads / # of answeredTry different scripts and keep track of outcome Close Rate= # of Sales / # of LeadsAverage is 20%, aim for approx. 70% for your goalExpired ListingsFocus on expired listings when the market trend is sluggish Connect with Expired Listings via: Phone calls, personal visits, send marketing material, connect through social mediaMost effective methods include phones calls & in person visits90% of expired listings do not sell because they are overpricedMore than 50% of expired listing are re-listed on the market with a different agentRemember to check the do-not-call registries prior to make any callsFSBOFocus on FSBO listings when the market trend is briskFSBO tend to stay on the market for approx. 4-6 weeks before they call an agentLess than 30% of FSBO successfully sell their own home & from this 30%, majority are priced correctly or just below the actual valueKey to winning a FSBO listing is to build a relationshipComplete a thorough CMA, and conduct a complete research on the neighbor hood and upcoming business or city initiatives and how that may affect the price of the homeHave a list of targeted buyers for the specific property available and how to market to them to demonstrate your strategy to FSBOOn more tips for generating leads, try this step by step guide which is free: The No Bull Guide To Doubling Your Seller LeadsOnline Marketing For LeadsOnline Marketing has a set of different strategies and truly have amazing potential to bring in a lot of quality leads. This can be done 2 ways, either using your website, or using ad platforms such as Google or Facebook.A great place to start when you are looking for leads is your real estate website. This can include your main website, or landing pages you set up for particular campaigns. With the right website, you can host your advertisements around your listings to attract a lot of leads that are likely to produce positive interactions. Anytime an online visitor comes to your site, your aim is to capture their information. Now, you must think value, in order to do this.For someone to share something as personal as their email address (yes, email is personal), you need to give something equally valuable in return. For example, if a seller really wants to get a free home evaluation, or a market guide on your local market, then he/she will pryou with their email address.Another great place to find leads is through social media. Places like Facebook, Instagram and Twitter have a lot of users and those users that are looking to buy or sell their home are able to look at your profile and see what you have to offer. Efforts in social media, is to advertise to your target (local) market.You want to entice them enough to lead them back to your website or landing page, so they can pass along their information to you, in exchange (thereu2019s that word again!) for something valuable. Once you capture their email address, you need to send them what they have signed up for. This can include a document, info, or a phone call.Finding leads is an integral part of your process. After you find your leads, you will need to nurture and attend to them so they can become a sale and a closing. It is helpful to come up with a lead follow up plan before you start collecting your leads.Phone calls and texts are a good choice for the second contact. Usually, when you send emails and other electronic communication, those that are interested will answer quickly, so you can start the lead nurturing process.Other suggestions that work very well, if you have the right strategy in place, includes getting leads from expired listings and FSBO. Keep in mind that many agents in your local market are thinking the same thing, so you need to have an approach that stands out against your competitors.Whether youu2019re a new or seasoned agent, the key to success is to fill the pipeline with QUALITY leads and to keep that consistently going.If youu2019re looking to start with Facebook for Online marketing, try this guide, which is also free: Facebook Marketing For Real Estate Agents
