Every year thousands of ambitious men and women pursue a career in real estate, and only 1% of those go on to be top producers in their areas. To better understand why most real estate agents fait to become top producers, we must interview a top producer. Meet Dean Aguilar, founder of Xavier Dean Realty and Dean Aguilar Group. On top of being a sought-after speaker, coach, and entrepreneur in digital marketing and real estate, Dean has led a top 1% real estate team selling over $100,000,000 in real estate every year. In this article, we will go over his tips and advice to skyrocket your career in real estate and become a top producer.
Defining a Top Producer
As you begin your career in real estate, whether as an agent or a broker, you will come across the term ‘Top Producer’ various times. Although the term is reserved for the individuals who are producing the results that earned that title, to become one yourself, it starts by upping your game as an agent. The 3 prerequisites that all great top producers have can be narrowed down to these.
Practice consistency. To have a successful career in real estate you must have consistency in your schedule to achieve all your goals. Your hours, days, and weeks should all be scheduled according activities that contribute to your career. These activities include prospecting for new clients, following up with former clients, and spending time on social media educating the consumer.
Overdevelop your sales skills. If you could learn one skill that can continue to provide for you and your family time and time again, that’d be sales. Take different approaches to your sales game, learn human behavior selling, create scripts, and develop closing techniques.
Hire a coach. To think that you have everything completely figured out the first few years of your career would be robbing yourself of income. It does not matter how many years you have under your belt. Someone can always bring in a dynamic perspective that can improve or better yet completely change your game in business.
Common Obstacles for Real Estate Agents
When you spend enough time around real estate agents, you begin to pick up on common obstacles most face within their first few years according to Dean. One of the biggest challenges always boils down to not having enough money in reserves to start, your first check could take 3-5 months if you’re starting out. Most rookie agents don’t have enough capital to dive in headfirst. The solution is to maintain a part-time job that is flexible but allows you to pay your bills. Most restaurant jobs or self-employed positions tend to help agents get by until they can sell a house.
A second common problem you may run into is discouragement, some people opt to become agents with the idea that they can step in and become millionaires. Realistically, those expectations are far from the truth and can lead you down a discouraging path when you aren’t making the money you thought you would within your first year. A great solution is to set realistic expectations in your first year and develop a timeline of objectives that match your experience.
How to Take It to the Next Level
- Don’t quit your job. If you have zero experience with real estate and are freshly licensed by your state to sell real estate under a broker, do not quit your job. Until you’ve built up a pipeline of business and leads, don’t even think about quitting. At the end of the day, you must be able to survive and not let money put the pressure on your ability to work clearly for your clients.
- Invest back in your business. Always be actively seeking opportunities that can place your business in front of your prospects. If your business is mainly run by referrals then maybe it’s time for online leads or mailers to add to your pillars of business. To scale in real estate, you must have at least 4 to 6 pillars minimum to grow.
- Leverage your Team. Your inner group should be the first that you consider when you need to outsource anything or even just a helping hand to make sure operations run smoothly. There is an old saying that goes, “If you do not have an assistant, you are the assistant.” You must leverage people to get rid of all the non-income producing activities. This allows you to do what you do best.
Beginning your career in real estate can be a demanding yet rewarding process. If you are confident that you can break past the obstacles, sustain self-motivation, and adapt to a constantly changing real estate industry, then this might be for you. It’s important to remember that when seeking to improve in anything that you start, always seek out the best at what they do.
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