Starting out in the real estate industry can be tough, and this is especially true for rookie agents. In Dubai alone, there have been a number of agents trying to offer villas for sale in Dubai but unable to do so successfully simply because they make the following rookie mistakes:
Mistake #1: Working with the wrong firm
One of the worst mistakes a rookie real estate agent can make is working with the wrong brokerage. If you’re just starting out, you’d have to look for a reputable firm to work with. Unfortunately, a lot of agents make the mistake of simply picking the biggest firm in town with the most competitive commissions to offer.
To solve this problem, it would be wise to look for a firm which offers perks for agents who’re just starting out in the business. Ideally, it’s best to look for one that is in close proximity to your residence, offers training programs, and other benefits.
Mistake #2: Lack of a proper business plan
Another major mistake most rookie agents make is doing business without any business plan. Business plans are an integral part of any real estate dealings as they help you put up your own business through selling property listings. Without a business plan, you’ll have a hard time knowing where your business is going, how you’ll get there, and how you can make your business succeed.
To solve this issue, it really pays to have a business plan. You can start by creating both short and long-term goals along with a timeline on when you aim to achieve them. This way, it will be a lot easier to allocate a budget and prevent any unnecessary expenses.
Mistake #3: Not leveraging social media
While this might sound like a mistake that’s only associated with the older generations, it’s actually something that affects new agents too. Not taking advantage of the power of social media in the real estate business might not actively cause harm, though it won’t be of any help either.
The real estate business isn’t often perceived as a high-tech business. However, as we become more reliant on the use of computers and smartphones, the industry has taken the game to a whole new level as well.
By using social media, you will be able to market your business in a more convenient manner. Additionally, it can help you bring more clients who might have never heard of your business before otherwise. Take new projects by Meraas for example. By leveraging social media, they’re able to reach out to a wider audience a lot quicker than compared to traditional marketing alone.
Mistake #4: Failure to set up the right branding
Last on the list is forgetting to set up personal branding. Ideally, you want to make sure your online portfolio is properly set up in a way that your contact information and listings are up-to-date. For example, if you’re selling properties in Dubai Creek Harbour, you have to make sure that your listings can be easily seen by your visitors.
As a newbie real estate agent, you’ll no doubt have a bit of a hard time during your first few months, even years. In some cases, you might find yourself making some of the common mistakes that the newbies make. However, by setting your priorities such as making a business plan and leveraging social media, you’ll be able to eventually find your way towards success.