Overcoming pitfalls in your first year

While you have tremendous earning potential as an agent, there are some common pitfalls for first year agents. It’s important for new real estate agents to be aware of these pitfalls and take steps to overcome them, such as seeking out training and mentorship, building strong networks, and being realistic about income expectations.

  • Click the headings below to learn more about common pitfalls of new real estate agents in their first year.

It can be difficult for new agents to establish a client base and generate leads. This can result in a lack of income and financial strain.

  • How to overcome this pitfall

Focus on building systems? Livian slides would be great here. Put in the work and expect a 6 month runway until you start making consistent sales?

Many real estate agents may receive insufficient training and support from their brokerages, leaving them unprepared for the challenges of the industry.

  • How to overcome this pitfall

Start with a company like Keller Williams that provides new agents with mentorship, courses, programs, communities, technology, and events. A full ecosystem to help you thrive.

New agents may not be familiar with the local market, real estate laws, or the intricacies of the transaction process. This can lead to mistakes and lost opportunities.

  • How to overcome this pitfall

Spend your time researching x,y,z, the most important parts of any real estate market, find mentors, network.

The high-pressure nature of the real estate industry, coupled with long hours and the need to be available to clients at all times, can lead to burnout and exhaustion.

  • How to overcome this pitfall

Real estate is a job, create structure and habits like you would with any other job and include freetime, selfcare, and time for hobbies.

Some new agents may have unrealistic expectations about the level of income they can earn and the time it takes to establish a successful career in real estate.

  • How to overcome this pitfall

It typically takes x amount of time to get your first sales as a new real estate agent and an additional y amount of time before you start generating consistent sales.
Lead generation

Without a steady income stream, new agents may struggle with managing their finances and making ends meet.

  • How to overcome this pitfall

Set realistic goals and expectations, spend less than you earn, educate yourself on personal finance and business finance.

Successfully marketing oneself and one’s listings is key to success in real estate, but it can be a challenge for new agents who lack experience and resources.

  • How to overcome this pitfall

Figure out your big why, the reason you are selling real estate, build your business around this reason, find your niche, work on establishing your marketing channels around this niche