9 Expert Tips to Start a Successful Career in Real Estate.
To the untrained eye, real estate brokers appear to have a simple job.
You rock up to a house, stick a sign out the front and wait till one of the customers streaming through the door asks for a sold sticker.
However, as any real estate agent will testify, the opposite is often the case.
It takes a lot of hard work, preparation, and dedication. It requires you to put on many hats, acting as an expert in all things real estate and providing an empathetic ear to get the desired outcome for all parties involved.
Top performers are at ease speaking with individuals from all walks of life, have a thorough grasp of the industry in which they work, and can back up their statements with a solid track record of sales. But above all, it’s the realisation that selling a property is not about brick and mortar. It’s not just simple dollars and cents. It’s about building lasting human relationships in the pursuit to facilitate what could be one of the most significant decisions your clients will ever have to make.
Yet, there are still some things a real estate agent can do to make themselves a cut above the rest.
1. Keep in touch with your customers regularly
Dealing with an agent who isn’t a great communicator may be difficult, whether you’re a seller or a buyer. Because the real estate market is so time-sensitive, you need to be the type of agent who keeps everyone updated on their current purchasing or selling position.
The last thing you want to do is squander people’s valuable time on opportunities that have a slim probability of success.
If buyers and sellers feel that you are not communicating adequately with them, they will be dissatisfied and will likely move on. This is particularly the case if the customers are relatively inexperienced in the real estate game. But there are ways to overcome inexperience. Pride yourself on being the type of real estate agent who responds quickly and efficiently. Ensure that you maintain your relationships and keep your ear to the ground because you never know when an opportunity will arise.
2. Be proactive in the sales process
A competent agent should be phoning potential purchasers, connecting with existing clients, and continually seeking fresh leads. If a client is hungry to sell, it’s on you to channel that hunger and do everything to fulfil that desire. Keeping the client informed is also an essential part of being a proactive real estate agent. If you keep getting phone calls from the same customers, you can infer that they have insufficient information. It’s on you to gauge your client’s sentiment and be proactive in responding to that.
3. Pay attention to what your clients are saying
Most excellent agents will warn you to avoid agents who speak excessively. If your clients can’t get a word in while conversing with you, you’ve got a problem.
The client or customer should be doing the majority of the talking. Your role is to ensure that you understand the customers’ unique wishes and requirements. Ask lots of questions.
The best agents also demonstrate their ability to “read” their clients and adjust the messages they share accordingly.
Some clients prefer to interact via email, while others opt for face-to-face communication. Others still will appreciate it if you contact them via phone.
It’s your role to figure out what your clients want so you develop the best possible connection with them.
4. Put your client’s needs in the driving seat
If the consumer gets a good bargain, so does the agent. That’s why it’s critical to prioritise your vendors. A competent agent will always put their customer’s interests first.
It’s no secret that buying and selling a house can be a stressful experience. As such, you must ensure your client feels supported throughout the process. Your client’s success is your success.
5. Know the area like the back of your hand
Real estate brokers are selling more than a house; you’re selling a way of life, which necessitates a thorough knowledge of the area in which the house is located.
So, before showing anyone around a property, make sure you have a great understanding of the local area. Consider rail and bus lines, adjacent kid-friendly activities, and local zoning rules. Having the ability to sell the local way of life could give you the edge over those who can’t. Put yourself in the buyer’s shoes and figure out what is desirable to them about the surroundings of a property.
6. Maintain an awareness of your clients’ deadlines
A strong client-agent relationship requires an awareness of urgency. The best real estate agents are those who recognise if a client needs to settle quickly and respond by working to a more compressed schedule. It’s about setting the confines of your relationship with the time you got. If the customer isn’t in a hurry, this gives you the time and space to search around and get the best possible deal.
7. Understand what motivates your customers to buy
A competent agent comprehends why their customers are selling or buying and asks themselves the following questions:
- Is this the first time they are buying or selling?
- What is the reason they are making that decision?
- Are they looking for an investment property, or are they looking to owner occupy?
Minor details can have significant repercussions on the relationship and the properties that are suitable. You should also take the client’s relationship with any house they are selling into consideration. A customer who is selling off one property with a massive property portfolio will have different needs to an individual who is selling the family home they have lived in for 15 years.
8. Have plenty of references on hand
One of the best ways to secure new clients is to be ready and prepared to share recommendations from your past clients. Make sure you serve the last 20 transactions, not transactions of your select choosing. That way, you can reliably demonstrate that you provide the service you claim to be providing.
9. Get the right insurance cover
Sorting out your insurance is an essential step for any new real estate agent in Australia. Business insurance* is designed to protect your business from the many risks associated with entering the real estate industry. That is why it is important if you are a sole trader to ensure you are getting the cover you need. There are also many different requirements depending on what state or territory you are operating in.
Just because the property market can be unpredictable doesn’t mean your insurance should be. With BizCover, you can get multiple competitive quotes from some of Australia’s leading insurers on the block with just a few clicks or a single phone call.
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