How to Be a Successful Real Estate Agent: Your 5 Steps to Success
This is the time of year when everyone is dreaming about the goals they have for their business and life. I know that YOU probably have big goals of success for your real estate business … and you deserve it. But here’s the thing…most agents KNOW the level of success that they deserve but aren’t always sure HOW to get there. To reach that level of success doesn’t mean a complicated formula, but there are a few things that the majority of top performers follow. So, what are the steps to success?
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Throughout this post, we’ll dive into the steps to becoming a real estate agent. From having a clear understanding of the goals you want to accomplish to holding yourself accountable, these are some of the steps to success that can help you grow as a real estate agent.
Now that you have a glimpse into some of the real estate sales success tips we’ll cover, let’s get to it. Here are the five steps to take to achieve the success you TRULY deserve.
Five Steps to Be Successful in Real Estate
Step One: Get Clear on What You REALLY Want
It all starts with getting really clear on what you really want out of your business and your life. When you start any journey, whether it’s saving for a car or buying a home, you need to outline a set of goals you want to accomplish, with a clear plan that details how you will get there. The same goes for becoming a successful real estate agent. Having a clear understanding of what you want to get out of being a real estate agent will help you find your purpose, along with motivation to achieve your dream.
To begin, decide how many days you want to work, when and where you are going to take your vacations, and, most importantly, how much money you want to earn this year.
Start from the BIG picture first, then move inward to the smaller goals that support your big vision.
For example, let’s say you’re a full-time teacher who wants to become a real estate agent. For this step, you may start out by working two days a week and maybe a few hours after school ends for the day. Now, let’s say your goal is to earn an additional $10,000 a year. If you charge a 5% commission that’s split between you and your real estate agency, this means you’ll need to sell around 5 homes for the year around $200,000.
With a clearer picture of your goals, you’ll be able to move on to the next steps for success as a real estate agent.
Step Two: Understand Your Why
Having all those targets and goals is great, but if you don’t know WHY you want them, you’ll never succeed. Determining your why will give you the motivation and fuel to see your vision through to completion. It is only after you’ve determined what success looks like and why you want it that it can be achieved.
For example, is the reason you’re interested in becoming a real estate agent to help families find their forever homes? Or perhaps you’re looking for a more fulfilling career path where the effort you put in directly impacts the outcome. By taking the time to sit down and really think about why entering the real estate industry is right for you, you’ll be able to remind yourself of the goals you want to achieve even on the hardest days.
Step Three: Make a Plan in Advance
You’ve heard me say it before, but one of the most important steps to success is having a plan.
This is more than just a marketing or business plan — this is the road map, and the steps required along the way, that will ultimately take you to where you need to go.
A good place to start is simply calculating your daily number. Make sure that your game plan is printed and up and visual in your office! By having a daily reminder right there in front of you, you’ll be reminded of the actions you need to take to reach your next milestone.
Real estate business planning may seem challenging at first. However, knowing the key components of a successful plan can help. Some essential parts to every real estate business plan include a mission statement, a set of goals, your timeframe, defining your target audience, conducting market research, and outlining your financial needs. With these components clearly detailed, you’ll have a better idea of how to be a successful real estate agent.
Step Four: Up Your Accountability
You’ve got the plan, the process, and the “how” in place, but there is still one vital ingredient missing.
The biggest difference you can make to achieve the success that you deserve is to up your accountability.
Accountability could be a coach, mentor, or even another agent…
The point is that you have someone regularly asking you how you are doing on your goals. Having someone to hold you accountable is an important tip for new real estate agents and veterans alike. It can be easy to fall into an unproductive routine. With a coach, mentor, or agent checking in on you to see if you’re progressing, you’ll have the motivation you need to reach that next step.
Step Five: Enjoy Your Success and Increase Your Goals
The final step to becoming a successful real estate agent is recognizing your success. When you follow the steps above and the success you finally deserve comes your way, enjoy it!
This is your chance to celebrate your growth, follow-through, and fulfillment of all the hard work you’ve put in.
Step back and celebrate, but remember your work isn’t over.
It is time to look at what worked and what didn’t, increase your goals, and do the work to reach the next level! If you’re wondering how to become a successful real estate agent, this final step to success might be the most important. Once you’ve reached your milestones and accomplished your goals, it’s essential to keep the ball rolling by setting new goals to achieve.
All successful real estate agents are lifelong learners, which means they take the time to continually hone their skills to become better each day. Attending networking events, shadowing mentors, and receiving coaching are all ways you can continue to develop as a real estate agent.
Going Forward…
We answered the one essential question all real estate agents ask themselves: what are the steps to success? With these five steps to achieve your goals, you’ll be on your way to becoming the real estate agent you’ve always envisioned.
I believe in you and know that you are fully capable of achieving the success that you truly deserve! From getting your plan in place, being clear on your why, upping your accountability, and taking action to achieve that next level of success, these steps to success will help you accomplish the goals you set for yourself.
You can do it!
At Tom Ferry, we have the tools and resources that can help you reach your goals. We have real estate coaches who can provide tips for success and insightful real estate agent tools to help you achieve your dreams.
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