7 Significant Errors Many Real Estate Agents Are Currently Committing

By skipashraful Updated October 30, 2023 Reviewed by skipashraful
Photo Credit: BiggerPockets

1. Procrastinating

While the demand for professional agents from both buyers and sellers is at an all-time high, many agents are procrastinating and waiting for various factors. They wait for interest rates to drop, the new year to start, or the market to improve. Waiting rarely outperforms taking consistent action. No matter what you’re waiting for, it’s time to take action because potential buyers and sellers need your expertise right now. Act, and results will follow.

2. Making Excuses

Instead of adding value to the real estate market, many agents are making excuses. They blame their lack of prospecting on busyness or their few open house attendees on poor turnout. They might attribute their lack of closings to rising interest rates. Despite the excuses, there are agents thriving in every market. Are you making excuses, or are you making things happen? Dedicate yourself to delivering more value to the market, increase your open houses, and expand your geographical farming. Instead of excuses, focus on accomplishments.

3. Talking More Than Listening

Most agents tend to talk excessively and sell aggressively. A better approach is to ask questions that help understand the needs and desires of potential clients. By asking the right questions and listening more than talking, you can identify their needs and provide value based on their responses. This listening approach enables you to serve clients at a higher level.

4. Worrying About Uncontrollable Factors

Focus on what you can control. You can’t control market transaction levels or interest rate fluctuations, but you can control your real estate-related conversations with potential buyers and sellers. Don’t worry about future uncertainties; concentrate on delivering maximum value to the market today.

5. Over-Planning

Planning is essential, but there comes a point when planning needs to transition into action. Are you just talking about your plans, or are you executing them? Action creates momentum, builds energy, and attracts business. A well-devised plan is effective only when put into action.

6. Neglecting Follow-Up

Assuming that potential buyers and sellers are thinking about you as much as you are thinking about them is a common mistake. Stay connected with check-in phone calls, connect clients with lenders, and continue to send property listings. Don’t assume deals will fall into place; ensure that you remain engaged and maintain client relationships.

7. Associating with Negative or Inactive Peers

You tend to adopt the attitudes and activity levels of those you spend time with. Avoid surrounding yourself with negative or inactive agents who dwell on challenges rather than working towards success. Choose your associates wisely, align with positive, hardworking, and client-focused agents to serve at your best.

Stop waiting and making excuses. Listen to prospects, control what you can, implement your plan, maintain follow-up, and surround yourself with driven individuals. The world needs your expertise, so become the best version of yourself in this market and time.