Top 5 Steps for Newly Licensed Real Estate Agents

You are a newly licensed Real Estate Agent. Now what? This is a question all newly licensed real estate agents will have to answer. Becoming a real estate agent, the numbers are stacked against you. Statistics show that 90% of newly licensed Realtors do not make it beyond the 5-year mark in business. 

Having 20 years of experience in the real estate industry, opening and consulting with several different companies, I put together what I believe are the top 5 steps you need to take after becoming a licensed real estate agent. 

#1 Commit to Real Estate

Being committed might sound like a given, so why is it on the top 5 steps? Being in the real estate industry for 20 years, this is where most will fail. Many will fail to commit to the real estate business, and a structured schedule could be beneficial in their path to success. 

If you can commit to your real estate business, you will find success as you will be ahead of most that become real estate agents, with many thinking they will make millions with a part-time work schedule.

#2 Get Organized and Write it Down

Most newly licensed real estate agents will not develop a written business plan and write down their goals. As a newly licensed real estate agent, sit down and develop a business plan and your goals for the first year. With these goals make sure you create micro-commitments to ensure you will put forth your best effort to achieve these goals. Look back on these micro-commitments often and come up with new ones to ensure you put forth your best efforts to reach the outlined goals. 

Also, sit down and write down your sphere of influence list. I would recommend using Google Sheets or Excel as you will need to upload this list to your CRM of choice that we will go over later. This Sphere of Influence should include anyone that you have a relationship with that can become referral partners; this should consist of family members, friends, past managers, professors, etc. This list will take some time but is well worth the effort. I recommend setting up the spreadsheet columns with – column 1 first name, column 2 last name, column 3 email, column 4 mobile phone number, column 5 mailing address. 

#3 Choose your Real Estate Brokerage Wisely

Spend some time on this step, don’t just join somewhere because a friend works at the brokerage or you know the broker. Sit down with several brokerages and compare what they offer. As a newly licensed Real Estate Agent, choosing a brokerage with good training and education is very important. I would also recommend ensuring the brokerage covers buyers, sellers, and multiple property types. This will help you learn about the business and determine if you want to go in one direction with your focus. You may decide you would rather be in a new home community, or you like dealing with buyers or sellers more. This experience will be valuable in your pursuit to become an experienced real estate professional. 

Other than education and training, I would pay close attention to the technology they offer and what type of lead system they offer. As we continue to become so reliant on technology, you need to ensure the real estate company you join has a firm grasp on technology and all of the benefits it will offer. For most people getting into the business and spending a lot of money on leads is not an option; ensure the company you interview with has some lead program. This does not only mean generating leads. Ask if they have the training and a system to handle incoming leads. Developing and buying leads is easy; a systematic approach to converting the lead to a client should be in place.   

Ask about what CRM they are using; this is important for step #5. 

# 4 Plan your first “100 Days” in Real Estate

I have helped launch and consulted with many new companies, and I believe the first 100 days in any business need to be as planned out and impactful as possible. 

Becoming a real estate agent is like running a business so ensure you do everything to market yourself and your business. Plan social media posts, call, email, and text your Sphere of Influence. Regarding social media, do not go overboard on business posts on your personal page but make sure you use them. Regarding social media, understand that no matter your personal views, you now have a spotlight on your back as a newly licensed real estate agent. Sharing something that can be offensive can quickly help you lose a potential client, and a large percentage of buyers or sellers will look at your social profiles before making a decision. A good mix of personal to business posts is 2 personal to 1 business post or 3 personal to 1 business post. 

Your first 100 days and what you do during this time will make a massive difference in your business. Do everything you can to put yourself and your new business in front of as many people as possible, be a sponge and learn all you can during this time. Being in the office and listening and learning will benefit you greatly. The company you are working for will take notice, and if they have a quality lead system, your demonstrated availability will ensure you see more opportunities. 

# 5 Get to know your Real Estate CRM

So you chose your brokerage, now it is time to get to work. One of the first steps you should take is to learn as much as you can about the company CRM. If the company does not offer a CRM, I recommend researching and trying out different real estate agent-focused CRM’s.

My favorite real estate CRM, and I have tried many throughout the years, is Follow Up Boss. The ability to integrate with so many different platforms, ease of use, and the significant Follow-Up Boss Facebook Group focus is to help each other within the community.  

Once you choose a CRM, send the onboarding team your spreadsheet for the sphere of influence you put together so they can upload it for you. Adding your sphere to your CRM will make reaching out to all of them so much easier, and if you chose Follow Up Boss as your CRM you can also quickly send out postcards with AM Cards if you have mailing addresses for your sphere! 

Your Real Estate Success is in Your Hands

A career in real estate can be gratifying if you put forth the effort needed to be successful. Following these 5 steps will steer you in the right direction to succeed as a Realtor. If you can commit to yourself and your business, this gives you a clear advantage over most getting started in real estate.