In this insightful interview, Richard Shulman, a highly successful real estate agent who was once ranked the #2 agent in the U.S., shares valuable advice for new agents on how to succeed in the real estate industry.
Shulman emphasizes the importance of prospecting, mindset, mentorship, and continuous training to build a sustainable and thriving career.
He also discusses the new course he developed in collaboration with U.S. Realty Training to provide agents with a practical roadmap to success.
The Importance of Prospecting
A recurring theme throughout the interview is the need for relentless prospecting, especially in the first few years of a real estate career.
Shulman explains that agents must make consistent outbound calls to build a solid pipeline, even if results don’t come immediately.
He shares an example of advising a new agent to make 5,000 calls over two months, underscoring that this daily effort, though difficult, is essential for long-term success.
Shulman warns that without this commitment, many agents quit prematurely.
Shulman also highlights how effective prospecting requires learning and iteration.
It’s not just about volume but quality—agents need to refine their scripts, practice objection handling, and experiment with different techniques to find what works best for them.
Mindset: Treat It Like a Real Job
Mindset plays a critical role in real estate success. Shulman stresses that flexibility in the job can sometimes lead to complacency.
He advises agents to treat real estate as a full-time profession, setting clear goals and routines, such as making 50 to 100 calls daily and scheduling at least two appointments.
Drawing from his own experience, he shares how shifting to a structured 40-hour workweek was a pivotal moment in his early career.
Shulman notes that many new agents struggle with mental challenges, such as self-doubt, especially when the first deal takes time.
It took him nine months to close his first transaction, and he emphasizes that perseverance is essential during this initial phase.
He encourages agents to stay motivated and develop a passion for the process, rather than focusing solely on the financial rewards.
Mentorship and Joining a Team
Shulman recommends that new agents consider joining a team or working under a mentor, particularly for guidance through their first few transactions.
Teams provide valuable support, ensuring agents don’t make critical mistakes that could harm their clients or reputations.
He emphasizes that while brokerages offer limited hands-on training, teams are better equipped to help agents develop practical skills.
He acknowledges that success is possible without a team but requires exceptional discipline and self-motivation.
Want to Become a Top-Producing Real Estate Agent?
We've partnered with Richard to create From Rookie to Rockstar. This is a real estate training program that helps you become a high earning agent in your market.
Richard teaches the fundamentals of building a real estate career. This 6-hour video program covers how to find more clients, provide top-tier service, close more deals, and earn bigger checks.
Check out From Rookie to Rockstar to learn more.
