New agents can rely on colleagues for critical advice

August 13, 2018

Many young people just coming into the real estate industry may need to lean on more experienced agents to help them navigate the industry. More often than not, those older real estate professionals are more than happy to help. All it may take is a quick email or conversation for new agents to tap a wealth of important information that will allow them to take big strides in short order.

Perhaps the most important thing for young agents to keep in mind is that when they get into the real estate business what they're really doing is getting into the relationship business, according to long-time industry veteran Dottie Herman, in an interview with Forbes. As with any other business, real estate is all about who you know. The sooner inexperienced agents can start building a network of contacts and leads, the better off they will be when it comes to putting down their roots and finding success.

Overcoming common issues
When young agents start out, they almost certainly have a litany of questions they need to ask and answers they need to seek out, but the fact is that many of those hurdles are things that other agents have encountered in their early days. Here, too, much of what needs to be done is relationship-building and not necessarily all the trappings around professional training or development - especially in today's hot market - while also learning to deal with the occasional issues that will crop up in the course of doing business.

"I'd tell my 20-year-old self, 'Do not let any obstacles stop you. Where there are obstacles there are also great opportunities,'" Herman told Forbes. "And most important, I'd drive home how important it is to get to know the people that truly make the decisions within the company you work for."

Furthermore, Herman noted that persistence is something all agents will need to bring to the table, because not every deal will go their way. This, too, may be an area in which new agents can lean on their older counterparts for advice and guidance.

Behind the scenes
Meanwhile, though, agents will still need to be good at handling, well, the business side of the business, according to The Balance. That means keeping track of any expenses they may have as part of getting into the industry, such as planning out advertising budgets, the cost of signs and other materials, a new professional wardrobe and so on. At the same time, it may not be easy (especially at first) to project income, but figuring out the best way to do that while also accounting for ongoing costs will help agents get a real idea of how viable their approach will be.

While young agents may not always have the easiest time navigating the world of real estate sales, asking their more experienced colleagues about the best possible approaches to take will almost certainly result in a good amount of assistance that can pay off significantly in the long run.