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CITATION

Irwin, Robert. Tips & Traps for Getting Started as a Real Estate Agent. US: McGraw-Hill, 2006.

Tips & Traps for Getting Started as a Real Estate Agent

Authors: Robert Irwin

Published:  August 2006

eISBN: 9780071709422 0071709428 | ISBN: 9780071463362
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  • Contents
  • Preface
  • Acknowledgments
  • Introduction: What’s Involved in Being an Agent?
  • 1. The Realities of Realty
  • Don’t Let the Numbers Game Fool You
  • How Do They Do It?
  • What Kind of Career Do You Want?
  • Which Track Will You Take?
  • 2. Seven Simple Truths About Getting Started
  • Truth 1: The Entry Costs Are Amazingly Low
  • Truth 2: There Usually Are No Formal Education Requirements
  • Truth 3: The Amount You Can Make Is Unlimited
  • Truth 4: It May Be Three Months or Longer Before You Get Your First Commission Check
  • Truth 5: You Are in Competition with Everyone Else
  • Truth 6: “Secret Agents” Don’t Succeed
  • Truth 7: You Are Entirely Responsible for Your Own Success—or Failure
  • 3. First Things First: Find the Right Broker-Sponsor
  • Why Would a Broker Want You?
  • Checking Out the Office
  • Checking Out the Web Site
  • Checking Out the Activity
  • Checking Out the Format
  • Your Interview from the Broker’s Perspective
  • Your Interview from Your Perspective
  • Finding a Mentor
  • What Else Do You Need to Learn Immediately?
  • 4. All You Have Is Your Time
  • Know Thyself
  • Where Do I Work Most Efficiently?
  • What Are My Biggest Distractions?
  • What Will It Take to Be Satisfied at the End of the Day?
  • What Do I Do When I Don’t Have Anything to Do?
  • The Stage Matrix
  • Setting the Stage
  • How Big a Pie?
  • Slices of the Pie
  • On Your First Day
  • Now What? (Your First Month)
  • Hitting Your Stride (Your First Year)
  • Reach for Riches (Your First Business)
  • The Three Constants
  • 5. 1-2-3 to Getting Leads
  • What, Exactly, Is a Lead?
  • The Most Successful Agents Around
  • You’re Unique
  • The Background Approach
  • What Can You Do?
  • Open Houses: A Gateway to Leads
  • Does Cold Calling Really Work?
  • Unusual Places to Find Leads
  • Developing the Lifetime Customer
  • Record Your Leads
  • 6. What Your Broker Never Told You About Farming
  • What Is “Farming a Neighborhood”?
  • How to Get Leads from a Fertile Geographical Farm
  • Why Geographical Farming Fails
  • What Is “Farming” People?
  • How to Find Your People Farm
  • The Essential Farm Tools
  • 7. Converting Leads and Referrals to Listings
  • Reason Number 1 for Selecting You: People Love or at Least Like You
  • Reason Number 2 for Selecting You: You Appear to Be Successful to Them
  • Reason Number 3 for Selecting You: You’re Available
  • Role-Playing and Scripts
  • Closing
  • Pricing
  • Financing
  • Forms
  • General Knowledge
  • Getting the Signature on the Dotted Line
  • 8. Everything You Need to Know About Buyers
  • From the Buyer’s Perspective
  • Meeting a Buyer at an Open House
  • Does It Really Work That Way?
  • Other Reasons Buyers Will Fib to You
  • Cementing the Relationship
  • The Game of Buyers
  • How to Keep Buyers Loyal
  • 9. Tools of the Trade
  • Your Chariot
  • Marketing
  • Web Site
  • Working Open Houses
  • Cell Phones, Digital Cameras, Computers, PDAs, Oh My!
  • 10. Selling Online
  • No Excuses Allowed
  • Setting Your Sites
  • Company Web Sites
  • Templates from Web Developers
  • Web Site from Scratch
  • Building Traffic on the Information Highway
  • Search Optimization
  • Local Relevancy
  • Leads, Leads, and More Leads
  • When buying Leads
  • Pulling Sales from Your Web Site
  • Try Handwriting
  • Help Is a Few Clicks Away
  • 11. Getting Buyers and Sellers to Sign
  • The Basics
  • The Buyers Aren’t Sure About the Property
  • Possible Objections to the Property and Work-Arounds
  • The Buyers Want to Lowball the Sellers
  • The Buyers Say They Want the House, but Don’t Have Enough Cash
  • The Buyers’ Credit Is a Problem
  • The Buyers Are Afraid to Make the Move
  • Protecting Yourself and Your Client
  • 12. Closing the Deal and Managing the Escrow
  • Working a Modern Real Estate Transaction
  • The Agent’s Job
  • Handling Negotiations
  • The Agent’s Role in Removing Contingencies
  • The Agent’s Tasks in Closing the Escrow
  • 13. Staging—To Be or Not to Be?
  • What Is Staging a House?
  • Where Are Homes Stages?
  • Does Staging Really Pay?
  • Who Should Pay for It?
  • The Other Problem with Sellers
  • What Should Be Done as Part of the Staging?
  • How Do You Find People to Stage Property?
  • When Should It Be Done?
  • How Much Is Just Enough?
  • 14. Agent’s Taxes and Insurance
  • Pay Ramifications of Being an Employee
  • Ramifications of Being an Independent Contractor
  • How to Pay Your Own Taxes
  • What About Retirement?
  • What About Health Insurance?
  • What About Liability Insurance?
  • 15. Emerging Business Models
  • The Incredible Shrinking Commission
  • Discount Brokers
  • Discounted Fees
  • Fee for Service
  • Salaried Salespeople
  • Comparing the Different Models
  • Why Aren’t There More of These Emerging Businesses?
  • 16. Become Your Own Broker?
  • Is There an Advantage to Being a Broker?
  • Is There a Disadvantage to Being a Broker?
  • What’s Involved in Being a Broker?
  • Should You Work for Another Broker?
  • Other Opportunities
  • 17. Everything You Really Need to Know to Succeed
  • Be Your Unique Self
  • Don’t Be Afraid to Experiment Early
  • Select the Right Work Environment
  • Work Hard at Every Task
  • Aim for the More Expensive Properties
  • Get a Better Broker Split
  • Invest in Real Estate Yourself
  • Always Be Honest and Aboveboard
  • 18. Getting Off the Ground
  • When Success Is Elusive
  • Take a Time-Out
  • Make a List, Check It Twice
  • Turn Those Negatives into Positives
  • Avoid Nay-Sayers
  • Traveling the High Road of Service
  • Index