You Captured a Lead. Now What?

The thing about capturing leads is once you catch em, what do you do with them?  

Accumulating names and numbers of folks who look at houses or converse about housing topics has never been more efficient. For a fee, thousands of services exist to fill your pipeline with leads. But, what about the real estate agents? How ready are they to be an asset in the process? What do the agents know, and is their knowledge vital to the outcome? 

The education requirement to test for a license is not rigorous. Seventy to ninety percent of applicants pass the test. Partnering with a broker is more a choice for the licensee than the broker. I know everyone says they have high standards for selecting agents to join their firms. It’s possible to apply objective means to determine if actions match words, but I haven’t seen it done. 

The role of the licensee is specific. Limitations vary from one state to another. A license to practice is not a certification of competence. There are plenty of administrative duties and several real estate law responsibilities and authorities granted with that new license. Is there too much choice for a licensee to learn before practicing or learn on the job? 

Education is not free. Someone will pay the price of an agent’s learning. 

What would happen if a newly licensed person was required to show competence gained from a thorough apprenticeship before they are permitted to work with a client without a skilled practitioner on their side?

How eager is the new licensee? It depends. Keen to have a closing is certain. Anxious to have to do real estate transaction work is less likely. 

Searching for and showing homes doesn’t require much confidence. The real estate license law work triggers high anxiety in typical new agents. Competency calms the stress and increases a person’s ability to be a contributing factor in a transaction. Confidence does not require competence. Without demonstrated competency, having faith in oneself and a desire to make money is enough for some brokers to let their agents go to work. My compliments to the broker who keeps here new agents learning under a competent mentor until the new agent has demonstrated they can work within the rules. 

What holds you back? Walking out of the building with a license in hand and going to work selling real estate on day one is possible. I was one of those new agents, highly confident, and minimally competent on Jan 1, 1989, my first day in business. I know and have mentored agents who have confidence galore, unwilling to sit any longer to learn, and those with no confidence who wanted to learn more. Both approaches produce highly effective real estate agents. 

What Are Your Trained to Do? Real estate is a transaction business subject to laws, rules, ethics. Our authority under a license is not lead generation, lead capture, social media marketing, blogging, or hosting an open house, farming, drip campaigning, socializing, joining clubs, or hosting first-time buyer seminars. By looking at real estate courses available, I get the impression that these are critical abilities to making money. I don’t know that they are essential to providing useful real estate service to the consumer, but that’s just my opinion.

Become Skilled at Licensed Real Estate Work. What comes first, the chicken or horse? The cart or the egg? Can you get business without competency? Can you gain competency without interaction with consumers? I believe you can. Yes. But this is not the vital question. Let’s ask instead, “How effective for the consumer can we be when we start with more confidence than competence; more enthusiasm than aptitude?” 

What advantages do we bring for our clients when we develop competence and aptitude before capturing good people who have high expectations of the real estate industry? I’d love to hear your thoughts?

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