I’ve seen a lot of new agents come and go over the years. The ones who succeed learn from their mistakes quickly. The ones who don’t… well, they usually don’t last long. Here are the biggest mistakes I see new agents make, and more importantly, how to avoid them.
Mistake #1: Trying to Be Everything to Everyone
New agents often think they need to say yes to every opportunity. Rural lifestyle blocks, commercial properties, residential sales – they’ll take on anything. Problem is, you can’t be an expert in everything.
The Fix: Pick a niche and become really good at it. Whether that’s first-home buyers, luxury properties, or a specific area, focus your efforts. You’ll provide better service and build a stronger reputation.
Most people will have forgotten or don’t know this, I started out by door knocking in Otara. Locally known in Ray White as “Mr Otara” it was my work ethic, no fear and ultimately clients, that enabled me to spread through South Auckland, managing their friends and family sales, their investment properties and their own homes. I spotted a niche, no one was working Otara, so my competition was just me and the gates I opened and the dogs I made friends with.
Mistake #2: Not Following Up
This is the big one. A potential client calls, you have a chat, they say they’ll “think about it,” and you never hear from them again. Most new agents just move on to the next lead.
The Fix: Follow up. Then follow up again. Most people need to hear from you 5-7 times before they’re ready to make a decision. Create a system and stick to it.
Mistake #3: Focusing on Listings Instead of Relationships
New agents often think success means getting lots of listings. They spend all their time chasing new business instead of nurturing existing relationships.
The Fix: Focus on building genuine relationships. One happy client who refers you to their mates is worth more than ten listings from people who barely know you.
Mistake #4: Not Investing in Education
Some new agents think getting their license is the end of their education. They couldn’t be more wrong.
The Fix: Keep learning. Attend seminars, read industry publications, find a mentor. The market changes constantly, and you need to change with it.
Mistake #5: Giving Up Too Soon
Real estate is tough, especially in the beginning. Many new agents quit just when things are about to turn around.
The Fix: Set realistic expectations. Success in real estate takes time. If you’re not prepared to stick it out for at least two years, maybe consider something else.
Mistake #6: Not Having a Financial Plan
Real estate income can be unpredictable, especially when you’re starting out. Too many new agents don’t plan for the lean periods.
The Fix: Have at least six months of expenses saved before you start. Create a budget and stick to it. Don’t spend your first big commission cheque on a flash car.
The Reality Check
Everyone makes mistakes – I certainly made my share when I was starting out. The key is to learn from them quickly and not make the same mistake twice.
If you’re a new agent reading this, don’t be discouraged. Every successful agent has been where you are now. Focus on doing the basics well, be patient with yourself, and remember why you got into this business in the first place.
The agents who succeed aren’t necessarily the most talented – they’re the ones who learn the fastest and never give up.