It is frequently seen that the efforts made by real estate agents do not fructify as intended. Many agents feel compelled to quit with an overwhelming sense of defeat. This is because there will be no business without a listed properties inventory. It is important for any agent to find leads, connect with the prospects, and build the needed referrals. Agents working part time could fail to reach goals due to a lack of motivation. They lose their enthusiasm after a few setbacks.
Causes of failure
Agents could fail to acquire listings for a number of reasons. These include a limited amount of time for them to network and look for leads. Insufficient inventory is yet another major reason. First-time buyers may find themselves with fewer affordable housing options. The list of other reasons includes reluctance to sell by existing homeowners and the real estate agent lacking proper authority to compete with the established brokers and their agents. There could be a number of other reasons as well.
As an agent, the practical way to solve these problems is to forget factors which cannot be controlled. You cannot control the inventory. Seller behavior cannot be controlled as well. What you can control, however, is how to spend your productive time.
Get more listings
It is not hard to take back the reins of your real estate career. To do this, concentrate a big slice of your working day on referrals. To put it more bluntly, referral generation should be the priority. No referrals mean no listings. This is especially valid if you work part-time. Place yourself in front of actual people, and not in front of your computer screen.
It is important to specialize in a niche product. You can specialize in single detached homes, condominiums or even new constructions. Pick one and do the best and the most comprehensive job on it. When you do this, you can quickly break the market and make your reputation much faster. Since you specialize in one part of the business, your branding will be consistent and cohesive. You also get the advantage of in-depth expertise and knowledge. When you make a name for yourself, you can break into other kinds of properties much quicker. Why not make friends with the market winner? Reach out to the important market players. Do not hesitate to partner with the established agents in the target market.