11 Tips for New Realtors® Looking to Build Business

Getting started in real estate and building your business as a new Realtor® can be challenging. Chicago Realtor® and speaker Shay Hata shares her tips for new Realtors® looking to succeed in the industry.

1. Join a Team

“One of the best things a new Realtor® can do is join a team,” Hata says. Teams of more experienced agents can provide great value to rookies by training, teaching and offering potential leads.

2. Join a Brokerage with Good Training

Brokerages can offer great training and other educational opportunities for new Realtors®. She acknowledges that many Realtors® only learn real estate law when going through the process of becoming licensed. Joining a brokerage can connect you with more experienced Realtors® who can help teach you the ropes and the processes behind real estate transactions.

3. Host Open Houses

“I would recommend joining a big brokerage where there will be opportunities for you to do open houses for other agents,” Hata recommends. “Partner up with other agents in your office and ask them if you can work with them. Ask your broker, ‘Can you introduce me to the busy agents in the office that maybe don’t have time to host their own open houses?’”

“My goal was to do two open houses every weekend,” she adds, recalling the beginning of her Realtor® career. “That’s truly how I built my business. I think that’s still an applicable way to build business today.”

4. Follow Up

“You have to have a very robust follow-up after open houses to show potential clients that you value them and why they should work with you,” she advises.

Hata recommends using a customer relationship management system to organize and send follow-ups after open houses and other events. This helps keep track of clients and allows you to track your engagement with them.

5. Provide Specific Information

“Provide consumers with information that’s specific to your market,” she says. “Look for houses that you think might be a good fit for them and offer to show them the homes.”

6. Find Your Niche Market

Hata also suggests figuring out if there’s a specific market that you want to go after. For example, this could be people who want to downsize. In this case, you may decide to talk to probate attorneys, elderly residents, divorce attorneys, etc., to find potential clients looking to sell or buy their homes. She notes that these interactions and relationships can also turn into multiple transactions.

7. Talk Lead Generation with Your Broker

“Talk to your brokerage and see what they offer for lead generation.”

Some brokerages offer agents floor time or phone time where they can sign up for a window of time in which they’re the one at the brokerage who answers questions from people walking or calling in. Being the first point of contact can help new Realtors® form relationships and connect with potential clients.

8. Post Your Real Estate Experiences

Hata encourages new agents to use social media to their advantage by going to open houses and other real estate events and posting pictures. This shows people that you’re out and about in the real estate world and helps establish professionalism and experience.

“People want to work with people who think they think are successful in the industry,” she says. “The more people can see you’re actually doing real estate stuff, the more people will trust you and want to work with you.”

9. Share Housing Market Information

Hata also recommends sharing local housing market information on social media. PAR releases a monthly housing market report that you can share each month to update your clients on housing in Pennsylvania.

She recommends posting a short weekly video about market updates that consumers can watch quickly and that establishes you as a Realtor® who’s knowledgeable in the industry.

10. Be a Local Resource

Being a resource in your community can be a great way to get your name and business out there. Hata suggests starting local Facebook groups for towns or neighborhoods where you do business.

For example, a Facebook group called “Moving to Denver” is a popular one that was started by a Realtor®. Members of the group often post questions about moving or living in the Denver area, and the Realtor® group admin helps answer those questions, gives local business recommendations and offers assistance to anyone looking to move to the area. Becoming a local expert in an area helps establish your reputation as a caring, helpful and knowledgeable Realtor®.

11. Host Pop-Ins

As a Realtor®, hosting pop-ins can help drive your business and allow further client networking. Hata recommends choosing a public place and letting your social media followers and clients know you’ll be there to chat and answer any real estate questions they might have.

For example, “I’m going to be at this coffee shop from 11 a.m. to 1 p.m. If you pop in, I’ll buy you a coffee.” To keep costs down for these types of pop-ins, she suggests partnering with a lender sponsor.