I just recently finished up my five week intensive training at Zephyr Real Estate; an exciting and wonderful experience joining one of the more well-known and pervasive entrepreneurial firms in the city of San Francisco. Many experienced agents that decide to join, are required to go through the agent core development program and I have to say that it has been an insightful and informative course!
What I find interesting in the field of real estate is that 90 percent of licensees fail at building a business in real estate after their first year. Why is this? I think many agents don’t get the proper training, jump in with experience agents, and potentially do not have the business mind that pertains to running a business – that is just what it is. Running your own business requires strong persistence, leg work, applicability, as well as a strong mindset.
That first week of the training, agents learn the inner workings, expectations, and the lifestyle most adjusts adapt to once starting their real estate career. We picked up on open houses, field research, ethics, and our fiduciary responsibilities. What does that mean? It means that we intend to put our clients needs first and disclose any and all information we come across. We learn a transaction calculator – a way to utilize our goals and perseverance with an algorithm that calculates leads, prospecting, transactions, weeks, and goals. What an adequate way to measure your goals and a business plan!
As agents we learn the brokers tours and districts while hitting up our Wed sale meeting. Discovering our sphere of influence is pertinent because building business relationships and forming new relationships is key to the real estate business. MLS training is another add on to the training – of course many experienced agents know how to use the MLS – its how we see our inventory and stock for our clients, but it’s imperative we know the website inside and out for many obvious reasons like putting together a CMA report – comparing properties to one another and learning what has sold compared to what hasn’t sold in the area of our clients interests and needs.
What is another important aspect of this wonderful training program? The financing… Loan basics, having a connection with loan advisors, and how we help our clients finance their homes and properties in the best, smoothest, and easiest possible way. The SFAR contacts are highly important to understand. Let me revise! It is crucial to understand the elements of real estate disclosures and contracts. We may as agents have a transaction coordinator that helps us dot every I and cross every T – BUT, it is our responsibility as agents to understand and know all contacts inside and out.
The Zephyr agent training program dives into the psychology and person ability we need as agents in order to not only build relationships with clients, but understand their needs. How do we adequately read people, analyze, and understand different peoples communication strategies? We need to be able to read our clients and what type of communication style they prefer. Another important factor would be the Zephyr technology. Z – Studio that handles thousands of pictures, templates, and designs for any type of marketing we may want to put together for our advertisement needs. Another pertinent factor would be our website, intanet (database) and other technology applications we will be using such as zipforms and docusign.
Another day I walked in for a course focusing on taxes and real estate: The tax implications of owning real estate, while we jumped right in discussing condos and TICs: Different forms of ownership, TDS Inspections: The Transfer Disclosure Statement and Agent’s Visual Inspection Disclosures. We discussed the process of reviewing home inspection reports, financial planning for realtors, writing, tailoring, and presenting offers, rent control, and the art of negotiation. One big swoop of information in one week – you could only imagine the feeling of immersion!
What I do love about Zephyr is their approach with teaching their agents how to market property. Utilizing statistics, evaluating property, CMA’s, listing presentations and what some great tools can be used to build upon adequate price appraisal. We discussed probate theory: The basics of Probate Transactions, the Skyslope software program relating to organizing your documents, closing transactions, title companies, best practices for securing listings, and San Francisco architecture.
Overall, the experience has been a splendid one! I would recommend this training to any agent because you are immersed and connecting with top agents, meeting personally with all sales managers across the Zephyr network, connecting with the market team, and other wonderful people. Real Estate really is a long and curvy road when trying to navigate through the market and handle offers, deals, and clients without the full support of your staff, sales manager, broker, and transaction coordinator. Good luck to all agents out there and may real estate thrive for both sellers and buyers!