356: Mistakes New Realtors Make — Hustle Humbly Podcast

We've all forgotten something at the worst possible moment. (Alissa forgot $150 worth of Mother's Day cakes at the bakery.) Forgetting a cake stings. Forgetting to check FHA loan requirements for a distressed property can cost your buyer over $1,000 they don't have. That's the difference between a personal mistake and a professional one, and that's exactly what we're digging into today.

This episode is all about the mistakes new Realtors make, not the business setup kind, but the ones that happen in the middle of real transactions with real buyers and sellers. We received a message asking us to cover this, so here we are. Consider this your friendly but firm reminder that learning on the job at your clients' expense is not a plan.

In this episode we cover:

Not understanding pre-approval terms or being afraid to talk about money with clients
Why leaving financing blanks on a purchase agreement is a serious problem
The importance of knowing common loan types (FHA, VA, RD, conventional) and their requirements
Not asking for help and winging transactions instead of going to your broker
Why Facebook groups are not a substitute for your broker's guidance
Letting buyers run the show during due diligence instead of setting expectations
The "3 S's" framework: safety, structure, and systems for home inspection guidance
HOA due diligence: what agents miss and why it matters more than ever
Understanding occupancy and why you can't negotiate it after the fact
Panic canceling instead of problem-solving during due diligence
Saying yes to every client (and why that's hurting you, not helping you)
Hiding behind texts and emails when the situation calls for a phone call
Taking everything personally and what it costs you long term
Real stories: the mold case, the missing refrigerator, and the agent who told his clients to sue him

Key Quotes & Takeaways:

"If you are not comfortable talking about money, you are not ready to have a client." Alissa
"When an agent feels frustrated by something, instead of being frustrated at the client, they need to say: I guess I didn't explain that." Alissa
"You don't need to be over there cleaning their house until 10 o'clock at night. You can't want to sell the house more than they do." Alissa
"I can't count the number of people that didn't use me in my first five years that I have done so much business with in the last ten years, because I did not burn the bridge." Alissa
"It's not okay to learn on the job at the expense of your buyers and sellers. You have to take this seriously." Katy

Products, People & Previous Episodes Mentioned:

Episode 355: Treating Your Business Like a Business (hustlehumblypodcast.com/355)
Make Sure You're Sure Template (hustlehumblypodcast.com/makesure)
Hustle Humbly Community (hustlehumblypodcast.com/membership)

If you are a new agent, bookmark this one. If you know a new agent, send it to them today.

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