New Agent Success Tips – Lab Tested Real Estate


Category Archives for "New Agent Success Tips"

21 Best New Agent Tips for Real Estate Success [Updated for 2020]

Are you a new agent who wants to be successful in real estate?

If the answer is "Yes", follow these tips that work especially well for beginner real estate agents.

new agent looking at real estate tips with her dog | 21 Best New Agent Tips for Real Estate Success

(After many years in a successful real estate career, I still think I would have at least $400,000 more in the bank if I had read - and implemented - a list of tips like this as a new agent.)

So... let's get started!

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How to Win With Home Buyer Consultations (#007)

OK, fellow agents... who DOESN'T want to always work with prepared, knowledgeable, and loyal home buyer clients?

Show of hands.... Anyone? Anyone? :)

I totally get it. Working with uncommitted prospects can be completely draining (not to mention very unprofitable), and sometimes our clients may not seem ready to move forward when we think they should be.

In my experience the problems usually boil down to two issues:

1) The client has concerns about the home buying process that are simply due to a lack of knowledge.

2) The client doesn't know enough about us to have a good reason to be committed to us as their agent.

Both of these problems are solved when you do home buyer consultations for your buyer prospects and clients. These consultations are SO worth it, and they're win-win: great for your clients, and great for your real estate business!

In Episode 007 of the podcast we finish up our two-part segment on Home Buyer Consultations with tips on:

  • How to invite your home buyer prospect to a consultation.
  • How to close (kindly, non-awkwardly) at the end of the consultation.
  • What NOT to say when you give your invitation. (Seriously - words that make me feel like leaping out of my chair and sprinting towards the deep woods, hurdling logs and small mammals.) OK, I'm a bit claustrophobic. But you get the drift.

Don't miss part 1 of this segment in Podcast Episode 6, "Are Home Buyers Really Liars?".  (You'll find two great free downloads for you there as well.)

Are Home Buyers Really Liars? (#006)

Are home buyers really liars, as real estate agents are sometimes fond of saying?

Well... let's talk about that.

In Episode 6 of the Lab Tested Real Estate Podcast we discuss:

  • Things buyers do that really are red flags.
  • The underlying problem that can cause home buyers to do the wrong thing. (Hint: Yup, sometimes it's the agent's fault.)
  • A very practical solution you can use to make sure you're working with committed, ready-to-buy clients. (And it filters out the ones who aren't serious. Yesss! :)
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Condo Buying: 15 “Must Ask” Buyer Questions [Free Checklist] (#003)

Do you have condo buying real estate clients?

When you do, make sure they know the right questions to ask… before things are finalized!

It can save your buyers many thousands of dollars… plus mean the difference between happy clients who are excited to refer you versus ones who are not.

Here’s a list of 15 “Must Ask” Condo Buying Questions (and a free downloadable Condo Buying Checklist) you can use to help your clients make choices they’ll be happy with long term.

Condo buying dog looking over balcony
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Don’t Let An Early Home Closing Sideline the Sale

Is your home purchase transaction going to close earlier than expected? If so, it’s vitally important to make sure the insurance company knows about it.  If not, you might find that on the closing day the lender’s underwriter red-flags the final review of signed documents because the closing date falls before the insurance coverage starts.

Here’s a recent real-life example:  The contract closing date language was appropriate (written as “on or before” a specific date, which in Washington state gives escrow the option to close early), but the loan processor didn’t catch the fact that the insurance policy was set to begin only on that specific date.  The buyer signed all of his loan documents, and it wasn’t until the lender was doing its final review – on the morning of the closing day – that an underwriter caught the oversight, triggering a flurry of calls to the insurance company.

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Is Your Real Estate Blog Breaking Copyright Law?

Please forgive the question.  (And if your first reaction is “Of course not, what is she thinking!” I totally understand.)

However, you would not believe the number of times I’ve seen real estate agents copy and paste entire news articles into their blog posts, mistakenly believing that they’re complying with copyright law by including the source and the author byline.

But… according to the law, they are not.

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What Are the Requirements for General Contractors In Your State?

For years when I saw that someone was a bonded General Contractor, I assumed that they had passed a set of construction-related professional standards set by the state  I think many consumers make the same assumption, but did you know that depending on where you live, this could be completely untrue?

In Washington state, for example, there are NO professional expertise-related requirements for someone to register as a General Contractor.  They do have to meet certain business and residency requirements, have liability insurance, and post a bond of $12,000 (as of December 2012), but here’s what the state of Washington says about the professional qualification part:

Links to pdf pamphlet for WA state general contractor application info.

Washington state General Contractor professional requirements as of December 2012.

Requirements vary widely from state to state.  California, for example, requires four years of experience, or some equivalent combination of technical education and work history.

Since being able to recommend trustworthy service providers is a valuable part of what a real estate agent brings to the table, it makes sense to be aware of contractor requirements in your state.  Here’s a link to a Contractor’s License Reference Site – you can click on the map to go to the database with information about contractor requirements in your state.

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