Which Answer Best Describes Your Reasons for Becoming an Agent
To invest in myself and build a business to serve others.
To have a side income
To be my own boss
To escape the politics of a corporate job
To make easier money than a traditional 9-5, have a flexible schedule, and have a job with prestige.
Have you thought about finding a new career?
All the time
Not at all, I'm determined to make this my career.
Sometimes when things are rough
A Lack of Start-Up Money is Likely Why You're Struggling in Real Estate
How much money did you have in savings when you began your career as a full-time real estate agent? We recommend all new agents have 6 months of living expenses set aside and at least $3,000-$5,000 more saved for launch marketing and other unexpected start-up expenses. The reason we recommend having this money in place before beginning a career in real estate is intentional. Here's why:1. Even if you're a great agent, it takes months to generate consistent income. It could take months to turn a lead into a commission check, but having savings to pay yourself will let you enjoy focusing on your business without sweating bills.2. Starting a career in real estate without enough cash will cause you to panic. Without cash in the bank, you'll start looking for side income, a part-time job, skimp on marketing, and potentially bury yourself in a financial mess. Here's what you can do to fix the mess your real estate career has turned into:3 Ways to Turn Your Real Estate Business Around👇1. Consider Temporarily Leaving Real Estate to Build Your Savings Having 6-months of living expenses lined up will drastically improve your chances of success. The best route might be to leave real estate temporarily for a salaried job that allows you to save up for a proper real estate relaunch. 2) Consider Financing 6-months of Living Expenses.We don't recommend building a business on debt. But if you're determined to stay the course, you could consider another source of financing for a successful real estate relaunch. Adding debt to the mix isn't ideal for a struggling agent, but it can work if it has to.3) Ask an Experienced Agent for GuidanceAny agent will tell you, this industry is full of peaks and valleys. If you know an agent that is trustworthy and will give you good advice, then you might want to consider sitting down with them to get guidance. This will require transparency and honesty about your current financial situation but might lead to career-saving advice. Lack of finances is a major reason why 87% of agents don't last 5 years in the industry. Our mission is to reduce that failure rate and set up new agents for success. To do this, we provide our agents with 6-months of daily tasks and weekly coaching calls. If you want to join our next coaching call and get free access to our tasks for a week, you can do that at www.TopNotchAgents.com.- You've got this!- Jon
A Small Sphere is Likely Why You're Struggling in Real Estate
How many people do you know that will need to buy or sell a home in the near future and how frequently do you see them?As a real estate agent, your sphere is everything. But what exactly is a sphere? Your sphere is the population of people you know personally, and you would say hello to if you saw them in the grocery store. Your sphere might be small today, but you should be laser-focused on growing it.Here's why:1. Your sphere is where your warmest leads and strongest relationships come from. Buying leads, cold calling, and door knocking can be a painful way to build a real estate business. There's a time and place for those activities, but the best business comes from people who already know, like, and trust you; your sphere. 2. Your sphere is how you get referrals early on. Even if you're a brand new agent, your sphere will help you spread the word that you're an agent. People who already trust and know you will be your biggest advocate early on in your business. Ready to grow your sphere?3 Ways to Grow Your Sphere👇1. Get More Involved Socially We know you might not want to go to your significant other's work happy hour and intentionally interact with people you don't know, but making an effort to meet more people in a non-real estate context will introduce you to potential clients. Whatever you do, do NOT be a salesperson in these situations. Simply tell others what you do for work, but don't initiate real estate conversations unless they ask. Position yourself as an expert, not a pushy newbie. 2) Network With the Right People Arguably the worst thing a real estate agent can do for their business is attend networking events with fellow agents. These other agents aren't going to send you business and grow your sphere. However, networking with non-agents in the real estate industry can be a huge asset when building your sphere. Start by engaging with as many lenders, contractors, inspectors, and title companies as possible. 3) Get Strategic With Meeting PeopleJoin a gym, attend events in your community, volunteer, coach a little league team, or host a neighborhood BBQ! All of these activities will not only improve your quality of life but the quality of your sphere and business. Lack of sphere is a major reason why 87% of agents don't last 5 years in the industry. Our mission is to reduce that failure rate and set up new agents for success. To do this, we provide our agents with 6-months of daily tasks and weekly coaching calls. If you want to join our next coaching call and get free access to our tasks for a week, you can do that at www.TopNotchAgents.com.You've got this!- Jon
A Lack of Marketing is Likely Why You're Struggling in Real Estate
Do you have a clear marketing system and a willingness to invest time, energy, and money into setting up your marketing? If you've neglected marketing, you're probably constantly wondering where your next paycheck will come from.Real estate agents are playing with fire when they neglect marketing.Here's why:1. Your marketing should always be working to line up your next paycheck. You never want to be worried about where your next check is coming from. A good marketing plan helps you stay in constant contact with current and future clients, alike. 2. Your marketing will help your sphere remember what you do for a living. Most people know several agents. Your marketing will keep you top of mind and remind them to call you when they need help. So, where should you start with your marketing?3 Steps to Improving Your Marketing👇1. Start sending consistent emails to your contact list and posting on social media.An email inbox is like a mailbox. People will check it just to throw everything away. Even if your emails aren't being read consistently by everyone on your list, they still keep you top of mind.Your social media should be used as a way to provide immense free value. Don't constantly ask people to work with you, just post value-driven content that solves common problems your audience is facing. This builds authority and positions you as an expert that's not desperate for business.2. Create Separate Active & Passive Marketing Plans There are two types of marketing that are critical for real estate success: Active and Passive. Active marketing is business-related mailers, emails, phone calls, and text updates. to your leads.Passive marketing is general awareness like bus benches, radio ads, and sponsored events. 3. Investigate Marketing Support from Your BrokerageMost brokerages offer marketing support in some way. Make sure you're taking advantage of every marketing resource your brokerage offers. Don't be afraid to reach out to your managing broker to ask for marketing assistance. Poor marketing is a major reason why 87% of agents don't last 5 years in the industry. Our mission is to reduce that failure rate and set up agents for success. To do this, we provide our agents with 6-months of daily tasks and weekly coaching calls. If you want to join our next coaching call and get free access to our tasks for a week, you can do that at www.TopNotchAgents.com.You've got this!- Jon
Being With the Wrong Brokerage Might Be Why Your Real Estate Career is Struggling
Being with the right brokerage is an important part of building a successful real estate career. Should you consider switching brokerages? Choosing your brokerage is a critical part of setting yourself up for success. If you picked the cheapest brokerage or a brokerage that offers very little training and support for new agents, you might find yourself feeling lonely and without support. Here are some questions to consider:1. Why did you choose your brokerage?If you can't articulate exactly why your brokerage provides value and has helped you grow as an agent, then you may need to reconsider where you're at.2. Does your brokerage offer training, support, and resources? A great brokerage will provide more than just a desk and somewhere to hang your license. If you began your career without formal training from your broker, or don't have people in your office you can ask for help, then what value are you getting? Life as an agent is hard enough to not have consistent and helpful training to help you move forward. 3 Steps to Take With Your Brokerage👇1. Take the initiative to find resources with your current brokerage first.It takes two to tango. Be honest and ask yourself if there is more you could be doing to advance yourself as an agent with your current brokerage? Have you neglected organized weekly meetings or not used the resources your brokerage offers? If so, start there before looking at new brokerages. 2. Identify Gaps in Your Brokerage and Look for Outside Support. If you like your brokerage and can identify where you need support, it might be worth looking for help from an experienced agent or investing in real estate coaching. 3. Have a Frank Conversation With Your Broker. If your brokerage has no resources, support, or training, and you can't identify anyone to go to for outside help, then it might be time to cut ties with your broker. Your broker isn't the one at fault for your lack of success in real estate, but YOU are responsible for finding success. If you're unsure if you need to leave your brokerage, or if you want help identifying what to look for in a brokerage, we'd be happy to talk through that with you on a free coaching call. You've got this!- Jon
Being Unteachable is Likely Why Your Real Estate Career is Struggling
In real estate, being teachable is one of the only mandatory character traits. Formal training for real estate agents is hard to come by. That's why being teachable is one of the biggest assets an agent can have. Whether through a course, a mentor, or the school of hard knocks, good agents will humble themselves and learn from the successes and failures of others and themselves. Here are some questions to consider:1. Are you skipping training and educational events that your broker provides?If your broker provides free resources and you chose to skip them, then you're doing yourself a huge disservice. Making the decision to attend every possible educational event is one of the fastest ways to start building momentum in your real estate career. 2. Do you regularly reach out to other agents for feedback and help?It's impossible to overcome every challenge alone in reach estate. If you don't have a go-to community of other agents that can help you when you encounter roadblocks, then you're subjecting yourself to more trial and error than you need.2 Reasons You Should Be More Teachable👇1. Being Teachable Can Fastrack Your Success.Have you ever heard the expression, "I walked so you could run?" Well, other agents have walked in their business so you can run with yours. Not only is it helpful to learn from other agents who are ahead of you, but it's also downright silly to not take advantage of advice from more experienced agents. 2. Being Teachable Could Have Prevented Your Current Situation. There's a reason you took this assessment. If you're struggling to gain traction in real estate while refusing to dive into educational resources, that might be an indicator of why. Reflect on your journey in real estate. How much further along would you be had you been a student of real estate since the beginning.What should you do next?Dive into resources with a teachable attitude! It's possible to revive your career.If you've made the decision to become a student of real estate but don't know what to do next, we'd love for you to join our next coaching call to see how we can help you build habits that lead to a long and successful career.You've got this! - Jon
You Likely Got into Real Estate For the Wrong Reasons and That's Why You're Struggling
A lot of people get into real estate for the wrong reasons. If your career doesn't align with your passions, chances are you're not going to enjoy it. If you find yourself waking up without motivation, constantly searching for a new job, or trying to win the approval of others by being a real estate agent, then you might not be in the right line of work.Here is something to consider:Why did you choose to become a real estate agent?Ask yourself why you got into real estate. If you became an agent for the money or status of being a flashy mogul, your morale might have been shattered once the reality of the business hit. What to Do Next👇1. Consider finding a new line of work. We hate to say it, but if you got into real estate for the wrong reasons, then you're not going to be invested in the hard work required to build a thriving business. If you feel drawn to other jobs outside of real estate, go for it! Real estate isn't for everybody, and if you've found it's not for you, that's okay. 2. Consider finding a different job in the real estate industry. There are many different careers in the real estate industry. If you're unsure about being an agent, but want to stay in a real estate-related role, there are plenty of options to choose from!3. Ask people you trust if you should stick with real estate. Don't ask for the opinions of people who don't know you well. But if you're considering whether or not real estate is right for you, we recommend asking a few friends or family members for guidance. Encourage them to be honest. Another option is to sit down with another agent and ask them for their thoughts. If you chose to stick with the industry, we want to encourage you to seek out the right community to support your decision.You've got this!- Jon