Avoid these 6 common rookie mistakes: Tips from top agents 

The two top REB agents said that, with ambition and desire for success, newcomers often forget that being a real estate agent isn’t about scoring the most listings or becoming a star overnight.

Instead, the experts said that junior agents should remember that success takes years and to focus on the bigger picture of building their reputation, solidifying relationships, and specialising.

Here are the top rookie mistakes to avoid:

Mistake 1: Jumping into the deep end

Biller said that, rather than diving right into a sales position, agents should build up their experience and expertise by starting as an associate for a principal or established agent.

“When I first started in sales – which was many, many years ago, my biggest mistake was that it was kind of, ‘here's a desk, here's a phone, off you go, figure [it] out',” he said.

“I would've probably been years ahead if I had worked under someone rather than jump in as a standalone agent from day one, which is what I did.”

While most agents these days already begin in an associate or junior agent position, Biller still emphasised the importance of having a mentor to learn from so they are poised for success.

“When they're selecting where they want to work, for example, part of that process should be, who am I going to be working under? Who am I going to learn from?”

Mistake 2: Being too egotistical

After obtaining a listing or securing a deal, many younger agents often let the success go to their heads, but Biller has warned against developing a big ego.

“A lot of new agents feel like they're TV stars; all they care about is their name in lights, their name on Million Dollar Listing on Instagram,” he said.

Biller said that ultimately, successful agents are those who have been consistently providing quality service without having an inflated sense of self-importance.

“At the end of the day, we provide a service, we work very hard, we represent vendors and we have to do the best by our vendors.”

Mistake 3: Lack of education

Jordan said while new agents are not expected to have solid knowledge of the industry, he has seen a lack of education around selling processes, property features and planning rules.

“What's the zoning of an area? What's the frontage? What are the contours? What's the building cost? What's the renovation cost?", he said.

“Ultimately, you are an advisor when you become a real estate agent, and if you're an advisor, you have to know your business, and if you want people to listen to you, you've got to know what you're talking about.”

Jordan said that it was essential for junior agents to build on their knowledge and develop their expertise to build clients' trust.

“Some buyers that are looking in the market come in with a higher level of education than agents, meaning they know the area better, the sales better, the prices better.”

“I'd be focusing on just knowledge in the first couple of years, learning everything about the area that I'm in, what the average prices are, every single sale, why it's sold for that price.”

Mistake 4: Playing a short-term game

Biller said that often, rookie agents are too focused on their short-term business and can neglect to build long-term relationships or prospect for new leads and opportunities.

“No matter what you've got on, no matter how much stock you have, you should never stop chasing new business," he said.

“A lot of agents will build their pipeline, they'll go and list a few properties, and then they'll go and work on selling those few properties, and they'll drop the ball on producing new stock. Once those properties are sold, they're back to square one.”

Likewise, Jordan said that many rookie agents came into the industry with a high ambition for success, but failed to have a long-term vision of how to build up their reputation and earn clients’ trust.

“They're playing a short game … rather than focusing on building relationships, building reputation, building credibility, because it takes a number of years to really cement yourself within the industry,” he said.

Mistake 5: Being too transactional

Similarly to playing the short-term game, Jordan said that being too transactional with clients can prevent agents from forming relationships, causing them to miss out on the chance to build up their reputation.

“In this industry, transactional-type agents are not attraction agents – if you want to be an attraction agent, you've got to build a reputation of credibility, and that takes time," he said.

Jordan said that junior agents should not classify clients into categories such as tenants, buyers and sellers, but instead see value in client interactions without expecting anything in return.

"The reality is today's tenant is tomorrow's buyer. Today's buyer is tomorrow's seller or vendor. So you just want to make sure that you have the same respect, level of service with every interaction.”

“Rather than wanting something out of it, just give, give, give, and it'll come back to you in multiples in due course.”

Mistake 6: Failing to specialise

Jordan said that the top agents were those who chose who specialise and build up their skills in one area, rather than having a broad scope of expertise.

“Whether an area or a suburb or a type of product, whether it's waterfront or apartments – I think becoming a specialist is important from the beginning,” he said.

According to Biller, it can be difficult for agents to gain traction in a particular location, and once they switch markets, they must build up their reputation from scratch.

“Yes, your skillset might improve, but in terms of traction in your marketplace, you've got no contacts, you're back to square one, and so stick to the same marketplace that you want to work,” he said.

“We are dealing with people's most valuable assets, and for someone to trust you, if they're familiar with your name or at least your agency's name, your brand, then it makes it a lot easier,” he concluded.

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