In the 450th episode of Mail-Right Show, Robert Newman and Jonathan Denwood discuss the leading mistakes of agents that can jeopardize success in the fast-paced real estate field. Robert Newman is the founder of InboundREM, a content marketing, story-telling-based platform. Meanwhile, Jonathan Denwood is the joint founder of Mail-Right, which builds beautiful websites on WordPress and provides CRM, landing pages, email, text outreach, and more in one great value package. This episode dives into common traps like inadequate marketing and ineffective networking and provides valuable insights on how to avoid these mistakes and how to boost business potential.
They Don’t Treat Their Career Like It’s Their Own Business
The quickest way to move beyond your career as a real estate salesperson is to recognize that you are also running your own businesses while working on commission. Once it is understood that income is entirely dependent on personal effort and that the business belongs to the individual, a significant shift happens. Taking responsibility for performance and understanding that the business is being contracted to other companies becomes a crucial realization. This shift in mindset can profoundly impact both professional and personal growth.
Zero Lead Generalization Strategy
A successful real estate career requires more than just a passion for properties; it demands a strong understanding of sales and marketing strategies. Many real estate professionals start by learning basic skills like reading scripts, then advance to handling objections rebuttals, and building the right mindset. With consistent effort, they grow into skilled salespeople. At first, following a script is essential for mastering the sales process, but with experience, it may become less necessary. The foundation of success lies in recognizing the need for a strategy. While passion for real estate matters, effective sales skills are important to stay competitive.
Sales and marketing are integral to a successful real estate career. Many agents lack formal training; even successful ones may struggle when market conditions change. The most effective agents plan, dedicating resources and effort to maintain momentum during slower periods, ensuring long-term success in any market.
No Video Marketing Strategy
Success in real estate will increasingly depend on integrating traditional marketing methods with digital marketing strategies. Few real estate agents combine the personalized approach of one-on-one sales and network-building with effective digital marketing. However, those merging both strategies will be the most successful in the coming years. A key component of this digital marketing strategy is video content.
Digital marketing tools provide a vast and impactful reach, regardless of time investment. Real estate agents must leverage these tools to advance their careers and enhance branding. Positioning oneself as an expert in a specific area and capitalizing on the lead flow generated from this visibility will be critical to success. It is also important to clearly communicate your expertise and ensure that you set yourself apart from competitors.
Relying on One Type of Lead Generation Funnel Supply Technique
Many real estate agents rely heavily on a single lead generation method, such as cold calling, door knocking, or online ads. While focusing on one strategy is common, depending on it for 90% of leads is risky. Most agents combine at least two methods, often leveraging their sphere of influence—previous clients, friends, and family—alongside tools like websites or purchased leads. However, many mistakenly assume that just having a website guarantees success, overlooking the time and effort needed to make it an effective lead generator.
Moreover, relying solely on platforms like Zillow or a sphere of influence may not be enough to sustain strong business. The sphere of influence method works only if agents actively nurture relationships and stay top of mind, but even consistent efforts are becoming less effective. Agents should diversify their approach to enhance lead generation by leveraging multiple channels like video marketing, email campaigns, podcasts, and local outreach.
The ultimate goal is to have more leads than can be handled. When a business reaches that point, it often signals the need for growth. At this stage, the business demands adjustments to manage the increased volume of leads, indicating the need for expansion.
Not Finding Your Niche
It is important to evaluate all client interactions to identify opportunities that align with personal interests or strengths. Reflect on the transaction, client, and nature of the case. For example, it may be helpful to consider working with divorced individuals, single clients, or those handling probate matters. Were there challenging situations where resolving issues brought a sense of accomplishment? This helps pinpoint areas of professional satisfaction, even if aspects like probate or aiding clients after a family loss weren’t entirely enjoyable.
Zero Digital or Social Media Marketing Strategy
Social media is closely tied to your niche, video content, and the generation of leads that direct traffic to your website. Publishing content across various social media platforms is a common practice. However, it is important to recognize that only one or two platforms will truly resonate with your audience. The effectiveness of each platform varies, as people engage more with some platforms than others. A common misconception is that a high volume of posts is needed for results, while the effort of consistent posting is often underestimated.
Working with the Wrong Type of Broker Partner
Commission splits are often overstated, and while understandable, they may not always be the most critical factor, especially for top agents with established lead generation systems. The split is less important for those not aiming to become brokers or legally required to work under one. Instead, focus on factors like brokerage culture, alignment with principles, lead generation support, and marketing strategies. Many agents overlook these elements in favor of the split. If a brokerage no longer provides growth or valuable lessons, it may be time to go independent or reassess the relationship.
As professionals develop their skills, they may reach a point where businesses no longer hold significant influence over them. Skilled individuals can gain market respect and find their talents in demand. This applies to both experienced and new professionals. Newcomers lacking knowledge in sales, prospecting, or marketing need strong mentorship. The right mentor is crucial, with options ranging from multi-level marketing models like eXp to hands-on training with mentors at firms like Keller Williams. Ultimately, whether the goal is personal growth, early retirement, or selling a business, all decisions require continuous progression. Success in real estate—or any business—demands ongoing skill development and business expansion until the individual achieves their desired outcome. Every challenge faced represents a skill that can be acquired, and with the right mindset and commitment to learning, success becomes attainable.
