I’m a Brand New Real Estate Agent, Now What?! with Tina Caul (Part 1 of 3)
Video Transcript
Subscribe To Big Money foreign [Music] state rock stars this is Tina call and I am so excited today to bring you a three-part series called now what so the first thing we’re going to talk about is I’m a brand new agent I just got my license now what so what do we do when we’re a brand new real estate agent and we enter the business everybody enters the business for different reasons some people they enter the business because they just need to make money this is a job for them and they feel that they’re going to be a great real estate agent because they’re a great communicator other people jump into the business because they’re investors they want to know more about real estate they’re interested in real estate and they feel they can leverage that license and put it to good use and then other people really get into the business and they just say you know what I’m great with people I’ve watched HGTV this looks like fun and so I’m gonna try this I’m gonna try this thing and I’m going to help a lot of people buy homes now there’s ways to build a foundation in this business when you’re a brand new agent so regardless of the reason you got into the business the reality is we have to learn what the business is and have the appropriate mindset to be really successful in the business so let’s start with the first thing we’re going to talk about is what is your mindset what is your mindset about this business because this business is hard if you think about the stats one in ten agents actually makes it in the first five years of the business that means nine people will not have success in the business one out of every ten and on a team three out of every 10 are going to be successful so when you think about this business why is it so hard thousands of people get licensed every single day and they don’t make it and I believe it’s their mindset so when you walk into this business I want you to think of something that we use on our team called the 100 zero you are 100 responsible for your success 100 of the time and you have to give 100 effort with zero excuses so a lot of times what I find new agents will do is they blame their CRM or they blame their broker or they blame the market or they blame their family for not using them they’re always looking for some source of outside blame but when you really look at their business they haven’t really started to do the things that are going to lead to the success of the business and what is this business again the mindset should be that this business that you are entering is a sales business it is everything to do with sales and it’s everything to do with getting on the phone and talking to people you are basically going into being a telemarketer that is what this is you have to get in front of people every single day and could you get in front of people people by meeting them for coffee by going to a networking event by holding an open house absolutely but the reality is you have to have conversations and you have to blah blah blah every single day so you are getting paid to blah blah blah now as a brand new agent how many conversations should you have in the beginning the rule of thumb for me is when you’re starting out you want to try to have five conversations per day with five different people so your job is to set a schedule and what I find is most people are coming from Corporate America or maybe they’re you know you you were a teacher or a nurse or you had some other profession where you had to punch in every day and uh whether you know a punch in and out every day um and you had some sort of set schedule you were responsible and held accountable for the hours that you produced at your job and what happens is the mindset of people coming into the business they think well gosh I’m an independent contractor now I can just set my own hours I can have flexibility which sounds really sexy but the reality is it’s the reason that nine out of ten fail because we’re not held accountable to a schedule we don’t have a boss and we don’t have enough self-leadership at this point to make it in the business so when you think about your schedule you have to treat it like a job so the the next thing I would say from being 100 responsible and having zero excuses is to set your schedule it has to be a schedule that starts in the morning my mornings used to start at 7 30 I would get into the office at 7 30 from 7 30 to 8 I would role play my scripts and dialogue getting better at knowing what to say and we’ll talk about this book in a minute um from 8 to 11 I would do my LLS what are the lll’s that’s lead generation lead follow-up and Lead conversion those three things are going to be the difference makers in your business I like to keep things really simple guys um and gals um really really simple and I think people over complicate this business they start talking about social media and video and luxury marketing and all the different things but the reality is you need to have five conversations every single day five days a week which is 25 conversations that will lead to almost thirteen hundred conversations at the end of the year if you were to close 10 of that business you would you would close you know 130 transactions which we know is probably unrealistic so think about closing three percent right three percent of that business can you close 20 to 30 transactions in your first year if you have five conversation every day my answer is yes so you’re going to have some sort of document every single day now you can track how many people you’re talking to and then you set your schedule I would prefer that you treat the schedule like you did your old job whatever those hours were which I’m going to imagine are probably nine to five you thought you were getting away from that dreaded schedule that idea of punching in and punching out but the moment that you walk away in your mindset from that that idea that you have freedom it’s failure time I mean seriously it is failure time so I want you to think like an entrepreneur but I want you to think like a smart entrepreneur and think of more hours that you’re going to put in right you are working nine to five working for somebody else now you’re working for yourself and you’re going to put more hours in this is the time not to give up this is the time not to get lazy I want you putting in 60 hours a week to grow this business because the first two years are a oh they’re bad I don’t want to use bad words but they’re they’re tough and they’re rough and they’re worth it so we’re gonna have our mindset 100 responsibility zero excuses we’re gonna be hungry humble and smart we’re gonna be hungry for the business every day we’re gonna get in there and we’re going to think about what we’re going to do and who we’re going to call and and work on our success we’re going to be humble right we’re gonna we’re gonna eat Humble Pie our friends are not going to use us in the beginning because they know that we just got our license right and we’re not going to get mad and use that as an excuse we’re going to keep moving on and talk to the public that doesn’t know that we’re new who’s and we’re about to practice on their property right with their Equity so you go to those strangers and then be smart having emotional intelligence this is an emotionally intelligent business um you know you’ve got to be self-aware self-awareness is everything so to lead other people first you have to lead yourself and think about it if you can’t even lead yourself in your new business why would anybody hire hire you think about that if you can’t lead yourself if you can’t make this thing successful why should somebody hire you so your mindset has to be sharp your schedule I’d like to see you use the same schedule maybe it was nine to five get in at the office at nine if you don’t have an office which I work for a virtual company I’m sitting in my home office right now wherever there is a desk wherever there is a phone and wherever there is a computer that’s where I want you to sit your day starts there the first three hours of your day are lead generation time that is your business building time that is what we’re doing to build the business so I want that to be looking at how many people you can reach out to so if I look at who you’re going to reach out to I’ve got a little list here I want you to think about your accountant people that have helped you advertise an aerobics instructor your alarm system company your animal uh your veterinarian maybe you live in an apartment talk to the apartment manager there do did you have an architect work on a property lately talk to them your Banker your Barber your bartender hopefully you’re not hanging out at bars but your bartender whoever so from your console uh your consultative people right in your life your financial planners and anybody that’s done any sort of service to your you know um uh you know your mutual fund company whoever I want you to think about the list right all your SOI all your sphere or if you were planning a wedding who would you invite to that wedding so go from your your sphere then go to your um all the people in your life that provide services let them know you’re in the business so you’re getting it in the morning and then I want you to set up your um I call it my million dollar box now at at exp Realty we have a CRM we have KV core but I know a lot of real estate agents and I know you guys are going to laugh a lot of real estate agents are terrible at technology they’re just terrible so if you’re going to be terrible at technology and you’re not going to use the technology I want you to just have a simple little box right I call it my million dollar box this this little box helped me sell over 130 homes per year earning me a million dollars so laugh all you want but this does work so for the people that are are terrible at crms start Simple Start small I want you to grab the little box and I want you to grab tabs right and so when you order these from Amazon label them January through February then you’re going to have little index cards in the boxes so when you’re talking to people right you’re having your five conversations per day I want you to write down Susie Smith her address what you talked about and her timeline so let’s say say Susie it’s um I’d say it’s March right now right so Susie says I’m going to be moving in three months April May June but I always cut it in half so if Susie says she’s moving in in June I’m gonna move this little card to the end of April I’m going to stick it in there beginning of May and I’m going to call Susie when I get to that may tab I’m gonna have all my leads that I spoke to in the in the months prior right there I’m gonna pull them out and those are the first people I’m going to talk to and then I’m going to move them down the row so when you think about this little box it’s just a great little system that you can use keeping the index cards in your car keeping the index cards on your kitchen counter wherever you need these little cards put them there so as you’re talking to people at the gas station at the local McDonald’s at the local coffee shop you can write down a little card and stick it in your box now if you are a CRM Pro which I hope that you are you can also put those things put your leads into kvk or put a little tag on them and then put a follow-up campaign same way one’s digital one’s paper you pick I don’t care but I want you doing that so uh nine o’clock to eleven o’clock or nine o’clock to 12 o’clock as your business building time 12 to 1 you take lunch from one and Beyond you would go on appointments now when you’re brand new you’re not going to have appointments so uh right away you might but not at maybe not every day so I want you to make an effort to get out and look at properties I want you to know the neighborhoods drive around make mental notes of brand new construction go in Meet the on-site agent talk to that person talk to on-site agents and ask them when I have a client would you mind if I do my buyer consultations right here in the model home would that be okay with you most of them are going to say yes and why do I say bring your clients to a uh to a a model home because you’re selling houses it’s emotional and so if I can sit with a client in a beautiful model home maybe it’s a two million dollar one million dollar model home even though they might not be able to afford that that gives me the opportunity to pull some emotion out of them get them excited talk about do you love these countertops do you like this backsplash do you like how the living room to the the um uh kitchen or would you rather have more Walls and More partitions do you love how big the yard is do you like the look of this neighborhood you’re having conversations you’re putting the customer right there where they can touch and feel the product that they’re about to buy um so I love having the model home um uh for my office space and that’s where we teach our agents to meet other people so you’re going to go look at properties you’re possibly going to um maybe go visit some uh open houses you know that’s a great way to get to know the product and the inventory and other agents in the area so I want you in the morning lead generation in the middle of the day take a lunch lunch and mindset break in the afternoon go on appointments or tour properties if there are no new construction neighborhoods in your area maybe you live in you know downtown Boston I don’t know and there’s really no new construction in your area I want you to go in and visit vacant properties I want you to go to different price points I want you to look at the inventory I want you to get to know your product if you know your product really really well nobody nobody can touch you last thing is the tools what tools do I need as a brand new agent to get started the beautiful thing about working at exp Realty for me is that everything I need to run my business is included in our 85 a month for brand new agents we have our KV core so you’ve got your CRM tool which I love there is a way to make calls through KV core which I think is amazing the next tool is join a mastermind group um there are so many Mastermind groups at exp Realty when you join the company you name a sponsor and that sponsor probably has knowledge or they themselves run Mastermind groups every single week ask your sponsor where is the best Mastermind group for me to participate to learn from Agents that are ahead of me in the path of success and and carve out one or two masterminds a week for us we have one every Friday at 11 we have one every Monday at one and so it’s really really important the third thing is do your classes we have about 70 classes in per week at exp Realty so I want you to get into the University Center and I want you to look at the class schedule take the brand new agent classes and then from there once you’re done with the jump start I want you to put one maybe two maybe three classes a week in your schedule because learning is where you’re going to see the growth so you have to carve out time in your schedule for learning maybe it’s after lunch just from one to two you’re just listening to a class because they’re all pre-recorded I would love to see you do that and have a notebook journal for you know future ideas and future things you want to do um the the next thing is your um you know do you need a dialer some sort of investment in a dialer I love Mojo dialer I love espresso agent I think those are great dialers there’s Red X um so many different dialers and what these dialers do is they pull numbers from neighborhoods uh your local area they also pull expired listing they pull for sale by owner listings so as you skill up and you learn what to say based on the people that you’re calling calling those numbers are going to be ready for you each morning when you get into the office to do your LLS right your lead generation your lead follow-up and your lead conversion those are the three things every single agent new or season should be doing every single day and the difference between you and those other people that aren’t going to make it is that you’re doing it every day because you have a job you run a company you are the boss and you are in charge if you are not building your business every day you’re going to be one of the nine and I know it’s tough but it’s tough love because I want you to make sure that your mindset is correct for the business that you’re about to to go into so I’m a brand new agent now what let’s go through a quick recap before we end this video number one it’s building the foundation it’s your mindset that is the foundation what’s going on in here you’re tough you’re a warrior you’re 100 responsible for what’s going to happen to you and you’re going to take that responsibility with zero excuses 100 zero 100 responsible zero excuses I can’t say that enough you are hungry you are humble you are smart you’ve got emotional intelligence and you know that this is a Communication business and this is a business that if you are not uh have a good regimen and you are not uh working on your skills every day you’re probably going to be a statistic and we don’t want that for you we want you to succeed and with the tools at exp you absolutely will succeed it’s the best place for any agent to work in my opinion I love this place and um and you will make it number two set your schedule if you’re coming from another uh form of employment keep the same schedule and do not act like this is some Freedom plan because you get into the business because you want flexibility from your old job you will fail without that strict schedule so keep that strict schedule I want you in the office in the morning or at your desk preferably from 7 30 to 8 I want you role playing and learning your scripts from 8 to 11 I want you on the phones talking to people your family your friends your sphere of influence calling around neighborhoods doing just listed just sold calls um you know you can look at uh other other agents in the area that have sold a property and you can call around that property so look up the just listed just sold calls online on YouTube Google Google is your friend I know on my YouTube channel we have a lot of of those uh teachings you can go there and then um and then I want you to take lunch and then I want you to go on appointments if you don’t have an appointment I want you to go and look at properties I want you to drive around neighborhoods I want you to look at model homes I want you to know the inventory so you can be the expert three is the skills right our Three L’s lead follow-up I’m sorry lead generation lead follow-up lead conversion those are your Three L’s so keep it very simple I want to see that on your board and I want you to think about every day did I do my Three L’s if you haven’t touched the Three L’s you are going to be out of the business very quickly so practice what to say this is a great book exactly what to say for real estate agents um this is a fantastic book up because it gives you some scripts some dialogue some key tools for you guys to learn and then your tools I want you to use your KV core learn how to use it become a systems wizard I was never a systems wizard so as I told you guys earlier in the video I used my little Freedom box right this is your freedom box so you’ve got your your your months you’ve got your little index cards and then you’ve got your leads and you’ve got exactly um what you need to build a business if you are a paper Guru if you’re a Post-It person you’re a notebook person like me um and then you’ve got your opportunity to have a dialing system some some system that is going to pull numbers for you so every single day you can make your five contacts and you can feel accomplished so guys your brand new agent you’re on this journey at exp Realty which I’m so excited for you you are surrounded by genius I want you to tap into that genius I want you to treat this like a job and I don’t want you to be a state so I hope this video was helpful thank you guys for watching and here’s to your success [Music]How Big Money Invests In Real Estate
Solving Common Challenges
Investing in real estate is a proven strategy for wealth generation. Yet, it is not without its challenges, especially for those new to the field or without the vast resources of big-money investors. Ever wondered how the big players overcome these obstacles and consistently succeed? Let’s dive into two common problems in real estate investing and explore effective solutions to tackle them.
Access to Capital and Financing
One of the biggest hurdles for real estate investors is accessing sufficient capital. Real estate investments often require significant upfront costs, which can be daunting. Have you found yourself struggling to secure funding for your investment projects? Without the deep pockets that institutional investors have, many potential investors hit a wall.
Challenges in Securing Financing
- High Down Payments: Traditional loans often require large down payments, which can be a barrier.
- Strict Lending Criteria: Banks and lenders have stringent criteria that can be difficult to meet.
- Risk Assessment: Lenders may view real estate investments as high-risk, leading to unfavorable loan terms.
Market Knowledge and Timing
Understanding the market and timing your investments are critical for success in real estate. How do big investors seem to always get it right? They possess extensive knowledge and resources to analyze market trends and make informed decisions. But what if you don’t have access to that level of expertise?
Challenges in Market Knowledge
- Lack of Data: Accessing comprehensive and reliable market data can be challenging.
- Understanding Trends: Interpreting market trends requires experience and expertise.
- Risk of Overpaying: Without proper market insight, there’s a risk of overpaying for properties or missing out on lucrative opportunities.
Solutions to Overcome These Challenges
Now that we’ve identified the problems, let’s explore how you can overcome them with strategies that even big-money investors use.
Leverage Partnerships and Syndications
Forming partnerships or joining real estate syndications can provide the capital and resources needed for larger investments.
- Step 1: Network with other investors and professionals in real estate forums and meetups.
- Step 2: Look for syndication deals where multiple investors pool their resources.
- Tip: Ensure all legal agreements are clear and protect your interests.
Utilize Creative Financing Options
Explore alternative financing options beyond traditional bank loans to raise the necessary capital.
- Step 1: Consider options like hard money loans, seller financing, or private money lenders.
- Step 2: Evaluate the terms and conditions carefully to ensure they align with your investment goals.
- Tip: Build strong relationships with these alternative financiers to secure better deals in the future.
Invest in Real Estate Education
Equip yourself with the knowledge needed to analyze markets and make informed investment decisions.
- Step 1: Enroll in real estate courses and attend industry seminars.
- Step 2: Subscribe to market analysis services and real estate journals.
- Tip: Stay updated with the latest trends and news in the real estate market.
Use Technology and Data Analytics
Leverage technology to gain insights and make data-driven decisions.
- Step 1: Use real estate analytics tools to evaluate market conditions and property values.
- Step 2: Employ software for financial modeling and risk assessment.
- Tip: Regularly review and analyze the data to stay ahead of market trends.
Diversify Your Investment Portfolio
Spread your investments across different types of properties and locations to mitigate risk.
- Step 1: Invest in a mix of residential, commercial, and rental properties.
- Step 2: Consider properties in various geographical locations to reduce market-specific risks.
- Tip: Rebalance your portfolio periodically based on market performance and trends.
Start Fixing These Problems Today
By leveraging partnerships, exploring creative financing, investing in education, using technology, and diversifying your portfolio, you can overcome the common hurdles in real estate investing. These strategies will help you secure capital, understand the market better, and make informed decisions.
At BigMoneyInvesting.com, we are here to guide you through these processes. Our resources and community support can help you take the first steps toward successful real estate investing.
Who Am I?
Hello, I’m Chris, the founder of BigMoneyInvesting.com. I’ve been where you are now—eager to invest in real estate but unsure how to navigate the challenges. I started this platform to help people like you who are passionate about investing, wealth creation, and understanding financial issues. At BigMoneyInvesting.com, we provide tips, strategies, and community support to help you solve these problems and achieve your investment goals. Join us, and let’s build wealth together!
Thank you for being a part of our amazing community.
We can’t wait to see you shine finanically!
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Comments (41)
I’m a brand new realtor w exp thank you for this video
Finding the right mentor is the best thing anyone can do, they can make you a successful agent if you're coachable.
What is a good online to
Take 90 day course to pass test wa system? Tha ks
“100% responsible; 0 excuses” hits hard 👍🏼
Great video. Thank you for sharing.
Great job Tina!
Great video!
As a Brand New Real Estate Agent, this was so informative and helpful. I definitely am putting the suggestions in to practice. The scripts are made available for eXp agents, but although I registered (twice) after watching the videos I have not received it yet. I also cannot find it on the eXp university site either. Can you please assist?
many of the 90% are afraid of what people may think about them or suffer from rejection or are insecure and are terrible at asking questions let alone listening … this was informative . I come from the auto industry … thick skin but soft humble heart
My goodness, this is invaluable….thank you so much. I'll be watching like 5 more times ❤❤❤❤
I just love the way you talk and explain things
I'm ok I literally joined days after getting my license February 22 and they are there to help if you ask. You have a sponsor a mentor a broker not just your broker and endless people in exp world thats there willing to help you it's crazy that people will say that. They have exp University and alot of training videos and live meetings everyday they want you to succeed. I believe it's ok for newly licensed agents I also joined solo but they do have teams.
🏡🔑♥️🫶🏽
Are you bringing new agents onto your team?
❤
Hi! I have been in Retail Store Management for over 20 years and I am seriously considering changing my career to Real Estate. I just found your video and though I have yet to complete watching it, I could not wait to make a comment about it! You are outstanding! – you are very thorough, detailed, passionate, inspiring and a great coach! Thank you for sharing your expertise.
Thank you!
very nice Vedio
Can you do a detailed video about lead generation? Thanks
Awesome video, very informative and inspiring ❤
This is a great informative video thank you
What was the name of the book again?
Love it
Thank you for opening my mind, clarified why I've been in a FOG MIST for this while as new agent coming from corporate. I really appreciate how you have simplified this, your tips are great thank you.
About to take re state exam and made my mind up to join exp vs the others. And besides, follow up skill is my specialty I adopted immediately right after car sales training. Absolutely love this vid too
thank you , im a brand new agent and ill be joining exp with my son , this video is very helpful!!
I’ve been told to stay away from exp if you are new because you won’t have the support that is needed.
You are amazing 👏 ❤️
Bought the book before you can tell me anything about it🙏this is great content
5 contacts? I’ve heard 30-40 a day
Good information! Where can I buy the book?
How do you do for the agents to meet with your team twice a week since they are self employed 🤔 I can not force them to come?
Amazing teacher and i ❤️ your $1M box. 😊
What do we count as a conversation ?
TREMENDO ! 😍
Great video Tina
Love how Tina Caul breaks it down, no nonsense, no BS and simplifies it just like the K.I.S.S. philosophy ❤❤❤
Amazing guidance!
Brand new here, only 3 months in. SC and NC, I really need help.😊
I love this Tina.
All these are great tips and advice for any Hungry Real Estate Agents. As a 3X ICON Agent, this mindset is what has kept me going. Even as a successful agent, some of my spheres still work with another agent. You need to have a thick skin to make alot of money in this business.
Goodluck to everyone 🚀🙏
When you refer to 5 conversations per day , do you refer to 5 new conversations with new people or would having conversations with your current leads count as well?