How to Survive Your First Year Working in Utah Real Estate
Life can be difficult as a newly-minted real estate agent in Utah. It's exciting to graduate from your Utah real estate school and get your license, but then the reality sets in. You have a brand-new business to run, and you have to run it well if you want to succeed.
Fortunately, we've also seen plenty of our past students succeed. If you avoid some common mistakes and stay focused, you can definitely make it in real estate!
Four Must-Dos for Your First Year as A Utah Real Estate Agent
- Market yourself whenever and wherever possible
Build a website. Establish a social media presence. Participate in online discussions. Learn online marketing. Get nice business cards and have them on-hand everywhere you go - even if it's just a midnight run to the corner store. Go to trade conventions. Attend seminars. Go to parties where home-buyers might be.
Prospecting and lead-chasing is a reality in real estate, and it should be your obsession in your first year.
- Get contact details, then follow up
Marketing yourself isn't enough. Having a pleasant conversation with a friend-of-a-friend who's looking for a house isn't enough. You need details! Get their phone number or their email address, then use it.
Be proactive. Look for potential properties your new lead might like, then go to them with your findings. Show that you want their business.
If you wait for them to call you, they probably never will.
- Accept that deals will sometimes fall through
There are very few things in a real estate agent's life than their first lost sale. We've seen people contemplate giving up the game entirely because a particularly juicy deal fell through.
But the reality is that nobody bats .1000 in real estate. Even the best of the best have had buyers walk away or be unable to secure funding. Don't let failure get you down. Keep trying.
- Keep your expenditures reasonable
Some people want to go into real estate for the "rock star" lifestyle, and that's fine - but don't start the party until you can afford it. You should be living like a college student in your first year, putting every spare dime into your business. Give yourself a strong foundation for growth first.
Institute of Real Estate Education Is Here to Help
The Institute of Real Estate Education can turn you into a real estate success! Contact us to learn more.