Saturday, April 28, 2012

Seven Mistakes Rookie Realtors Make After Getting Their Florida Real Estate License

     The first mistake that many new Realtors make after getting their Florida real estate license is not sending out two hundred letters to their two hundred closest friends call this the Ijustgotintorealestate letter.  This is such a wonderful source of new business that it would seem that no one would ignore this source of business.  The opposite is true.  Ninety per cent of the people that get into real estate do NOT do this.  If you are new in real estate, send out two hundred ( minimum) letters to your friends, acquaintances, old co workers, club members, relatives and anyone else that knows you and ask them to refer business to you.  Some will.  There is many ways to do this but nothing is better than a letter in the U.S. mail. 

     The second big mistake that rookie Realtors make is to ignore the internet.  You need your own website.  You don't need the company's website with your picture on it.  You need your own website.  Websites don't cost a million dollars.  Get one.  Check it out. 

     Blogging is a skill any new Realtor needs to start learning about. You need to start blogging as soon as the ink is dry on your Florida real estate license. 

     The third mistake is not studying salesmanship.  There are books.  There are classes.  There are audio books.  Most people come to real estate from a non selling background.  Selling is learnable skill.  If you are new in real estate, you need to learn salesmanship. 

     The fourth mistake many new Realtors make is wasting time.  Time is the only commodity a rookie Realtor has that he can turn into money.  Many new Realtors waste time doing things like picking up the laundry and other errands.  If you are picking up the laundry, you can't be selling real estate.  A new Realtor must learn to spend their time wisely.  Prospecting for new leads, meeting with clients, showing homes are the things that a new Realtor needs to fill his appointment book with.  If what you are doing is not leading to your next listing or sale, quit doing that and start doing something that will turn into money.   

     The fifth mistake that rookie Realtors make is not learning how to qualify buyers.  This can be fatal mistake.  I mean fatal to your real estate career.  This is somewhat of a combination of wasting time and not understanding salesmanship. 

     Most new real estate salesmen don't know that they are wasting time when they are showing homes to someone that can not buy a home.  This is worse than wasting time.  Going to a movie in the afternoon is a waste of time.  Showing homes to someone that can't buy a house will tire you out and frustrate you. It will not help you earn a commission. 

     Learning how to ask people about their financial qualifications is a delicate skill.  It is essential to your success.  Read my article,"When  In Doubt, Blow them Out".  You need to learn this skill.

     Mistake number six almost always cures itself after a couple of years.  When you are new in real estate, you almost never know that Realtors that list houses make a lot more money than Realtors that show other Realtors' listings.  Listing is the most lucrative thing to do in real estate.  I won't dwell on this.  Look around.  The top money earner in your office is  also the top lister.  Am I right?

    Don't make mistake number seven.  Control your spending.  Save at least ten per cent of your income.  Many people complain that real estate is feast or famine.  That may be true.  It may not be true.  This is true.  When times are good, save some money.  Make one of your first goals to put six months income in the bank.  If you do hit a dry spell, cash in the bank is your best friend.  It may be your only friend. 

     There are plenty of mistakes to make.  The more you do right and the less you do wrong, the more likely you are to build a lucrative real estate career. 

     If we can help, call us at 407 822 3926 or visit us at

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