As a real estate agent, you are essentially taking on the role of the workhorse of the industry. Your job description in the real estate industry may include working as a salesman, analyst, buyer’s advocate, marketer, consultant, negotiator, appraiser, loan officer, clerk, and so on. So, the work of an agent involves dipping into almost every aspect of real estate.
But there are other players in the residential real estate market that you may find yourself working with – these are banks, property management, builders, state agencies, and publishers. Your first step as a real estate agent is to figure out how all these players connect and how you can navigate the rules and regulations as laid out in this business.
So how does one become a successful real estate agent? The difference between success and failure may depend entirely on your own abilities, rather than the conditions in the market. Generally though, the services of a real estate agent are in high demand even in slow markets.
Here are our expert tips for becoming a real estate agent:
1. Think of it as a Business
Think of real estate as serious business, and not a hobby that anybody can pick up after a few tutorials. The online landscape has dramatically changed the relationship between the agent and buyers or sellers; and especially the way that people search for property. The average consumer has immediate access to all sorts of real estate statistics and actionable data – and this can sometimes lead people to forget that it takes training and experience to learn the business.
It doesn’t help that realtors are constantly uploading content for consumers, with topics such as “How to Flip Homes Quickly”, and other similar material that leads some up-and-coming agents to take a casual approach.
The real estate business is about money, and decisions must be made with extreme care, otherwise you stand to lose your money.
2. Maintain a Good Relationship with Clients
Even though technology has fundamentally changed the business, and every modern real estate agent seems to work through mobile apps; there is still an element of trust that is the fabric that holds most successful businesses. Customer relations are what determine growth in this business and being good with people can help you land new clients more easily. Word of mouth travels fast in the residential part of real estate.
Community work may help you develop relationships and grow your business. Make time for the people in your town, perhaps by coaching junior league, or attending government meetings. Whichever way you get involved in your community, make sure that people know about your business and the good work you do.
3. Create a Personality
Now, we don’t suggest that you try and become something you’re not; but at the same time, you may need an edge to get noticed in a competitive industry. Remember, it’s not just the properties you’re selling. People have to like you first before they agree to hire you for buying or selling property. The nature of this business means that things can go very well when you have a cordial working relationship with a client, and it can go badly if you don’t like each other. As you get more actively involved in your community, think about the image you need to project, and work on developing your new, charming persona.
To avoid confusion, don’t veer too far from yourself, and try to find work in communities with whom you have a connection. Avoid sensitive subjects like religion and politics, but feel free to join carnivores and any number of decent groups in your area.
4. Understand Technology and Embrace It!
If you haven’t already, it’s time you made peace with technology and embrace it as the tool that connects you to people and helps to expand your business. Think of all the ways that you can use websites, images, social media, reviews, digital contracts, online showings, communication, and so on; to reach new customers.
A good agent makes use of all the tools available to them, but they also remember to stay grounded and not to lose focus of their connection to real people. You don’t have to be an expert on all these technologies, but you sure can’t ignore them.
5. Find a Good Brokerage
A good brokerage will allow you to learn more about your own market, and its important because the dynamics of your target market will determine the way you conduct business. For instance, does your town or city have a high student population? Are there many rentals in your area?
These questions will help you draw out a game plan. You also want to learn from the best, and this means following advice only from the most successful agents in your niche. Being in a brokerage gives you access to all of this.
If possible, find a brokerage that guarantees a long list of clients. Just check how successful they are, and how this relates to your ability to get clients while working there. Also keep in mind your own connection to their workplace and learn a thing or two about office culture and other dynamics. Finding good employment is important, but finding people you like to work with can be very satisfying
It takes quite a bit of effort to start and build a real estate business, but the passion you have for your job will help you get past the challenges. Look for new opportunities everywhere and talk to new people to learn all the tricks.