Keeping one step ahead of the new kids on the block.

If the real estate industry had a sign hanging over it, it would likely say, "Come in, We're Open!" And yes indeed, they are coming in.

Who can blame them? Soaring home values, low interest rates, record sales and corporate downsizing have all helped to open the floodgates to the industry.

And what I see flowing through those gates is a new breed of REALTOR[R], one with sharp business acumen, real world corporate experience, solid time management skills and an attitude that says, "I'm going to win." I suspect many will win. And here are some reasons why.

1. They have a plan. They've done their homework, they've interviewed brokers and agents, economists and others about the marketplace. And from that research, they've created a vision that fits their personality, their morals and their work ethic.

It's clearly one of the biggest mistakes some new REALTORs make: not doing research. It's the first steps to a winning plan. There's so much to know, and yet, some come in without knowing the fundamentals and they think it'll be easy. They don't know the number of hours they need to put in to make a living selling real estate.

Plan your work and work your plan. You'll be amazed how much those seven words can change the size of your savings account.

2. They're not going to go it alone. If you were opening a restaurant, would you plan to be the chef, the host, the busboy, the waiter? Of course not.

These new Realtors coming in know this that their most valuable asset in their new career is time. And to maximize the use of that time, they've adopted a team mentality. So they'll create a team that lets them focus their efforts on listing and selling real estate, not pushing papers or filing. Remember this: REALTORs only perform four dollar-producing tasks: list, prospect, sell and negotiate. The rest are non-dollar producing activities.

REALTORs who've chosen to be the cook, the host, the waiter, they try to do everything. They're easy to spot. They look frazzled and unprofessional and I suspect their wallets are thin because they're not spending their time wisely.

3. They're not afraid to ask for help. This is a first cousin to teamwork. The smarter new REALTORs know they don't have all the answers and they're not afraid to ask for--or spend money for--help from consultants.

It's no secret that there's a big learning curve in real estate and these new folks know that. That's why you see so many consulting firms for real estate. I also believe the brokers who offer solid training and mentoring programs will get their fair share of this new talent entering the industry.

So whether you're new to real estate or a veteran looking to polish your skills, having a plan, assembling a team and getting help are proven ways to boost your career in real estate.

BOB CORCORAN 

FOUNDER, PRESIDENT, CORCORAN CONSULTING INC.