Welcome to real estate! The real estate industry always has room for new recruits — especially new REALTORS^® who understand and are willing to commit to doing what is necessary to make it long term in our industry.

In real estate, the product being marketed is a little different than the norm. We’re not marketing toothpaste or shoes or cereal — we’re marketing ourselves in an effort to attract both buyers and sellers. Become a marketing expert, and you’ll drive abundant traffic to your business. And loyal customers can contribute to your image as a professional who is reputable and reliable — and for you, profitable for years to come. 

But marketing can be expensive, and of course keeping costs in line is key to remaining in business for the long haul. Businesses often spend big dollars on marketing, thinking that a hefty marketing budget guarantees success. This isn’t always the case. As salespeople marketing ourselves, we must incorporate unique marketing practices into our overall business without breaking the bank. 

This article offers the best tips for industry newbies as well as solid reminders of the basics that contribute to long-term success. No matter how long you’ve been in the business, having the basic recipe for success is key to ensuring that you'll be around years from now. It’s never a good idea to stray too far away from the basic ingredients if you want that batch of cookies to turn out perfectly every time!

1. Adopt an attitude of gratitude by giving thanks generously. 

A positive attitude is important to your well-being and can help you grow your business. Appreciation and kindness cost nothing! Remember that you will never get all the business, so set realistic and attainable goals so that you are able to bask in the glow of achievement and enjoy the rewards. 

Staying positive can also help new agents immensely. If you're new, keep in mind that you don't necessarily have to be “good” right from the start. It's important that you be “there” —  stay on top of phone calls, emails and other communications. You may not find yourself sitting at the closing table when you're just new to the business. But remaining positive and being present are critical baby steps that should not be ignored.

2. First impressions are everything!

You've likely heard the expression “you never get a second chance to make a good first impression.” This is true for real estate — both with personal and nonpersonal communications. 

Consider working on your business first thing in the morning by contacting people in your sphere/database and then working that business in the afternoon by showing properties, listing, writing offers and closing/following up. You're more likely to secure business and secure appointments if your phone call is the first of the day. 

Also remember to make the in-person first impression one that is relevant for your client. For example, Wisconsin is a farming state. If you're headed to a meeting with a farmer, your suit and tie may not be the appropriate choice of attire. On the flip side, your suit and tie would work well when dealing with a downtown client. Dressing for your client is key to ensuring a great in-person first impression!

3. The power of personal notes. 

Like flossing your teeth on a daily basis, forming daily professional habits can be good for you too. Be sure to form the habit of writing two or three personal notes daily.  Something simple like “congrats” or “thank you” are great ways to reach out and let others know you are present and ready to be of service. The real estate business can work well when even the most subtle approaches are engaged. Giving of your most precious asset — your time — to acknowledge someone will help you to remain top of mind.

4. Prospect, prospect, prospect.

Prospecting is vital in the real estate business — and for new agents, the thought of prospecting might be a little scary. Think of baby birds leaving the nest: the mother bird pushes the babies out of the nest, even though they may not feel ready to fly. New agents, embrace the same mentality: get out of the nest and fly! While you may not feel ready or you may be afraid of rejecton, your business depends on you getting out of the nest. You won't find success if you remain quiet and avoid the task of prospecting.

Once you have prospects, be sure to prioritize them. Put your focus on those who are ready to buy — the “hot” prospects. While a laundry list of prospects can be great, you may be unable to provide great customer service to those who truly need it. 

Prioritize buyers and sellers into a list, from one to five. Work with the fives and fours — those who are ready to buy or sell now. If you find that you have extra time, you can move forward and market to the threes and twos. Beware, though, of these “lukewarm” prospects: since they’re not necessarily in a position to strike, don’t allow them to take up your immediate time. 

It's okay to turn down certain potential clients and refer them to someone else who can provide the high level of service and attention they deserve. The saying “less is more” rings true here.

5. Use time wisely. 

Time is your most valuable asset, so be sure to prioritize how and where to spend this finite gift in order to generate the highest level of service to your clients. Your clients will appreciate your services when you know exactly what you can and cannot handle and when you're able to provide them with a high level of service and support. 

Successful agents schedule their time appropriately. And more importantly, successful agents stick to their schedule. Scheduling should be a fast and easy process for you. Just a smidgen of your day should be spent scheduling while your remaining time should consist of other ingredients that generate clients, business and sales. When you spend excess working with your schedule or looking at your calendar, that time is lost. Is that time lost from a listing appointment, open house, or a phone call with a potential buyer? Use time wisely.  

6. Stay current on local market activity.

New agents, take note: staying updated on market activity is very important homework! Be sure to study items like home sale statistics, current absorption rates, appreciation rates and knowing how both cash sales and financing affect closed sales … and you’ll become the local expert. 

Obtaining local market knowledge can position you as the “go-to” REALTOR®, a person known for being knowledgeable and accurate. Homework and honesty go hand-and-hand here. Your local market is changing daily, and you must become a local economist in order to guide prospects correctly and ethically throughout the real estate transaction.

7. Touch base once a week with clients.

Make a commitment to call each of your buyers and sellers once a week. Keep the phone call brief — two or three minutes max — and give them an update so that they feel in the loop and completely involved. This will help keep them loyal; the feeling of abandonment won’t enter the picture. 

I like to call my clients’ home phones, knowing that most of the time, they are at work. They then arrive home to my voicemail advising them of their current status of our transaction. 

An another note, when chatting with buyers and sellers in person, remember to ask about their family, friends, occupations and hobbies. You want to earn a place in their hearts as someone beyond just a real estate advisor, but as a well-rounded professional. Take your client relationships to a new level; after all, we are human beings before we are REALTORS^®!

8. Become an active listener.

When you over-talk, you run the risk of alienating customers/clients. Listen twice as much as you chat. Questions are the “fish hooks” of all sales, so ask more of them and actively listen to the responses. 

Dealing with an unhappy customer? Troublesome situations demand your listening ears even more. Most times, disgruntled customers just want to be heard. A dissatisfied customer or client who has a matter resolved is more likely to refer new business than a customer who had a good experience with no challenges. And, be willing to apologize when a customer is unhappy. No one is keeping track of how many times you apologize. 

9. Manage your matches. 

Watch your local MLS database for matches to your listings and hot buyers. Keeping a keen eye out for prospect matches will help you increase your closed sale numbers. Create a unique way to touch your sphere monthly. For me, my monthly newsletter has worked magic in keeping me in touch my network. Whenever the newsletter happens to be late, I receive dozens of calls from anticipating readers. What a terrific feeling to know that prospects look forward to remaining informed!

10. The more you learn, the more you earn. 

Stay up-to-date on raising the bar of excellence by keeping yourself in the classroom. Real estate is a knowledge-based service, so it is of utmost importance that you continue to learn, grow and tweak the way you conduct your business. I don’t suppose that I currently do anything the same way I did back in 1991 when I first entered real estate. For that matter, most successful companies are the same. Remaining competitive means moving forward, letting go of inefficient and dated processes, and embracing new ideas and ways to satisfy customers and clients.

So, will your cookies turn out rich and chewy? Or hard and crispy? Just as you’d follow the recipe to achieve the perfect cookies, be sure to follow the real estate recipe to achieve the most success. The choice is yours — but I challenge you, new agents and veterans alike, to incorporate these 10 ingredients into your practice today!

Marcus A. Wally, MBA, is an active REALTOR^® in St. Augustine, Fla. He is the founder and broker of New World Realty, which also manages the coaching and facilitation of education classes around the world. Marcus earned his MBA from the University of North Florida in Jacksonville. He can be reached at 904-669-1081 or at marcus@newworldrealty.com. Learn more about him at www.newworldrealty.com.