Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.
It’s a tough market out there, but then again, it’s always a tough market, depending on your mindset. The truth about when to jump into a real estate career is as elusive as the answer to our client’s favorite question, “When should I buy a house?”
The answer to both is simple: when you’re good and ready! Much like buying a home, starting a career in real estate is about feeling prepared, not waiting for a perfect time or market. If you hold out for that “perfect moment,” it will never come. Instead, focus on how you approach that decision — because how you start can make all the difference.
Once you take the leap, it’s essential to proceed with clear goals, a solid business plan, and awareness of these five pitfalls that could derail your career before it even begins.
Part-time mentality
Balancing real estate with other jobs is challenging, and treating it as a side hustle can limit your success.
While not everyone can quit their day job and commit to real estate full-time from day one, this business demands your full attention if you’re aiming for more than minimum-wage results. It’s not just about being available; it’s about being dedicated.
Be prepared to burn the midnight oil on weekends and evenings to make it work. If you can’t go full-time initially, have a plan in place for managing responsibilities when your primary job conflicts with real estate demands.
Who will handle your clients when you’re unavailable? Who is watching the transaction when you cannot? Consider joining or forming a team to get the support when you need it. Teamwork truly can make the dream work.
Manifesting yourself out of business
If you refuse opportunities because they don’t seem to align with your brand, you might end up without a brand at all. Be willing to do the foundational work — whether it’s showing rentals, hosting open houses, or going door-knocking. Building a portfolio, gaining experience, and expanding your network are essential, especially early on.
I often hear from aspiring agents who shy away from showing rental properties or hosting open houses for lower-priced listings because they believe it will “manifest” less-than-luxury business. My advice: rethink your strategy.
Would you rather start by earning a few thousand dollars each month, or none at all? Building your brand comes from gaining experience, and no business is worse than imperfect business. And remember, “imperfect” is in the eye of the beholder.
Quit being a secret agent
Marketing and outreach are essential, especially when you’re just starting. If you’ve earned your real estate license and joined a brokerage, your next step is letting people know you’re in business. If you haven’t compiled a list of 50-100 people you already know (your sphere of influence) and started reaching out, you’re missing a big opportunity.
Start with your close network — family, friends, service providers you use regularly. Then expand to local business owners, contractors, and community members. Monthly follow-ups with your list are crucial. Don’t just send referrals to your favorite plumber — make sure they know about it. This is a two-way street, so be clear in your communication, and don’t shy away from asking for referrals in return.
So many agents are hesitant to have honest conversations with fellow professionals. Don’t be. We’re all in this together, and you’ll be surprised at how willing others are to help when you ask directly.
Try saying something like, “I sent you three referrals last month. Did any of them reach out? That’s great! I’ll be waiting for my three from you!” Be bold — it’s more fun that way!
Overcome your telephobia
If the idea of making or taking phone calls makes you break out in a sweat, it’s time to get over it. This isn’t just about cold calls—it’s about effective communication. Every missed call is a missed opportunity to build rapport, answer questions, and secure clients.
Even in the age of text, real estate sales still relies heavily on direct conversations. Avoiding calls or delaying responses will harm your credibility and limit your growth. If phone calls are your nemesis, remind yourself that each conversation has the potential to turn into thousands of dollars in revenue. Your brain should be rewired to think that ringing phones = more money!
Check yourself before you wreck yourself
Your image matters, but it’s not just about dressing to impress. The real estate industry gives you the freedom to be yourself, so you need to decide how your personal brand aligns with your business plan. Are you aiming for a casual, approachable vibe or a polished image? Whether you’re rocking flip-flops or an Armani suit, your appearance should align with your brand.
Think it through: what does your “look” say about your business? Luxury agents might succeed in jeans and a t-shirt, while others may choose to suit up for every showing. Whatever your style, own it, and ensure it reflects the professionalism and positioning you have chosen.
Bottom line: Be the CEO of your career
Ultimately, you are starting a business, and you are the CEO. Take it seriously. Real estate sales isn’t something to jump into lightly. Have a business plan in place (there’s no better time than now), set clear goals and prepare yourself mentally for the hard work ahead.
Maximizing your success will take time, effort and the right mindset — but if you avoid these five mistakes, you’ll be on the right path.
Zak Shellhammer is a broker, coach and consultant. Connect with him on LinkedIn and Instagram.
