Now that you are in your fourth week of real estate, you’re probably getting anxious to get some clients. This week’s activities are geared to start getting you your first clients, as well as continuing to set up your systems so that you have a supply of clients throughout your entire real estate career. The important thing to remember is, while we can give you activities and ideas that we KNOW lead to success, we can’t do them for you. The wonderful thing about real estate is that it is entirely dependent upon you! But don’t worry! You can do it!
Would you spend $25 to potentially get thousands of dollars in commissions? Of course you would! A great way to get referrals is to give the referrer something of value in exchange for the referral.
You know how some agents put “I’m never too busy for your referrals” or “A referral is the greatest compliment!” at the end of their emails? Ugh! How lazy! How unoriginal!.
Or, they pester their friends and family, “Do you know anybody who needs to buy or sell?” In other words, they have a “takers” mind-set. It’s all gimme, gimme, gimme.
Instead, why not say, “For every referral you send me, I’ll give you a $25 gift card to Amazon!
Do you think you think you might get some more referrals that way? Well, of course you will! And your friends/family will be excited to get a little something extra. And you’ll feel better because you will have a “givers” mind-set.
A “Referral” is the name, phone number or email of somebody they know who is looking to buy, sell or lease, and when someone give you one, you should you give them the reward…right away!.
Here’s where so many agents go wrong. Many agents don’t give the gift card until the referral closes on a deal. But by then it’s too late because that is months away! The person who has referred the deal to you has already forgotten all about it.
It makes a stronger impact if you send the reward right away and increases the likelihood that your friend/family member will send even more referrals your way. Sure, you might end up giving them a $25 gift card for a client who never closes a deal; heck, you might end up giving several…BUT…think of it this way:
Don’t you think out of 8 referrals you could close just one?
If you closed just one, you’ll more than cover the $200 in costs.
Your reward or gift doesn’t have to be a gift card to Amazon. Amazon works well, through, because you can order eGiftCards have them sent to the referrers email, so it’s quick and no stamps or note cards needed. Just go to your Amazon account, click Gift Card and then eGift.
However, some agents prefer to use the dining cards, or other gift cards, that can be found almost everywhere and they send them via regular mail with a “thank you” note. The point is, the person giving the referral is trusting you with their recommendation, do more than just give them over-used Realtor clichés. They’ve given you something of value; give them something of value in return. In the long run, they will keep sending you referrals and some agents have built their whole careers on referrals-only.
Successful agents use programs like this throughout their entire careers.
Now that you have reviewed the Open House Kit, have your directional/open house signs and have printed out your sign in sheet, you are ready to get out there and host an Open House. Just follow the steps in the Open House Kit and you will be fine. It’s available on the Dashboard Learn tab > Learning Resources > Open House Kit. Remember, the most important thing at the open house is to collect names, phone number and emails so that you can follow up. Some, but not all, of your open house attendees will turn into clients.
Now that you’ve selected a CRM to use, it’s time to do the upfront ground work and start entering names, emails and phone numbers. If you followed the training from Week Three and put your contacts into an Excel or Google Sheets file (a CSV file), you can send the file to the TotalExpert support desk at support@totalexpert.com and they will import your contacts for you. CLICK HERE to review the CSV Contact Spreadsheet data and header requirements. Also, be sure to add the names you collected from your open house.
To learn how to use the TotalExpert CRM review the Getting Started with TotalExpert CRM video training.
Since you are doing Open Houses, chances are good that you might run into prospects who need to sell their home before they can buy. So, it’s a good idea to review the handout, “Your First Listing.” It will walk you through everything that happens after you have a prospect tell you, “I need to sell my home.” You can also find this document on the Dashboard Learn tab > Learning Resources > New Agent? Start Here.
Watch this CMA training video to learn how to do a CMA (Comparative Market Analysis) and put what you’ve learned to good use! Do a practice CMA on your own home. At the very minimum, do the Quick CMA, just so you can see how the numbers work and how it looks when it’s printed out or emailed to a client. The broker recommends sticking with the Quick CMA as it is the simplest and easiest to read.
If you choose to explore the other CMA versions, such as CloudCMA, that is up to you.
If you don’t have your own home, you can do one for a friend or family member or just pick any home in the MLS.
Have you ever heard the saying in real estate, “List to Last?” What that means is that agents who have listings tend to last the longest in this industry. When you have a listing, you are almost guaranteed to get at least 2 more additional clients…from calls off your sign to attendees at your open houses. Converting a FSBO (or For Sale By Owner) into a listing is challenging, but then, you’re up for it, right? Review the handout Three Strategies to Converting FSBOs, also found on the Dashboard Learn tab > Learning Resources > Prospecting.
In it, you’ll see three different methods for three different types of agents. There’s no one size fits all. The important thing is to find out what works for you because FSBOs can be a great source of listings and business throughout your career.
A study by the National Association of Realtors has found that agents who spend more time involved in their hobbies are more likely to increase their number of sales (and therefore, they make more money!). And it doesn’t matter what type of hobby it is; as long as it involves other people.
It makes sense, doesn’t it? When you have a hobby, like riding your Harley with other Wild Hogs, boating at the lake or playing in a summer softball league, you’re exposed to other people who most likely aren’t real estate agents, but who at some point will probably need the services of one. And who better to help them out than you, right?.
So often, newly licensed agents want to jump in and get involved with activities at the board of realtors or with other agents at their brokerage. And while it’s great to want to contribute, don’t let it be at the expense of activities that don’t involve other realtors.
And the reason for that is plain to see. You’re simply not going to get any business from hanging around with other real estate agents. Other agents don’t need you to help them buy or sell a home.
So, if you’re a new agent who has put your hobby on a shelf because you’ve been focused on getting your license or if you’re an experienced agent who has been so focused on generating leads that you’re feeling burned out…why not re-engage in your hobby?
Or start one if you don’t have one? Do the things that you enjoy…do them more often and just maybe, you’ll find more business coming your way.
Check out Meetup.com for others who are looking to connect as friends.
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