Real estate can be an exciting and lucrative business. It is also competitive. Real estate agents who want to not only succeed but compete at the highest level and dominate the market know that there are best practices they must follow.
Here are five tips every real estate agent who wants to be a top-notch professional should consider when first starting their career:
1. Treat your business like a business
When you are starting out, it’s easy to get swept up in the excitement of wanting to start showing homes right away. But before you do, it’s imperative you first create a business plan that includes establishing a budget, setting up and implementing systems and creating a strong database. Using a proven customer service management (CRM) system will help you do many of these tasks and keep you going in the right direction toward your goals. Utilizing a real estate coach will help you accelerate this process and establish best practices for a solid foundation.
2. Learn industry terms
Real estate has its own unique vocabulary and jargon. It’s important to know what these terms mean as they relate to different stages of a transaction. Many of these will be unfamiliar to your customers so it will be up to you to translate what they mean in an easy-to-understand manner.
3. Communication is key
Almost more than any other industry; real estate is based on emotions. There can be anxiety, sadness, joy, anticipation or a mix of those feelings. The agent must be able to recognize and adapt their communication style based on the client’s verbal and non-verbal cues. Respectful acknowledgement of their feelings, keeping them informed at all stages and concentrating on the positive aspects of the transaction will help the process keep moving in a productive manner.
4. Working with a coach
You may think you cannot afford the extra expense of a business coach, but working with the right one from the beginning will pay for itself in significant dividends. Just as the best athletes do, agents who use an experienced coach have an advantage over the rest of the field. Seek out a coach with a proven track record who has helped agents create a great business plan, offers insights into best practices, provides support and accountability and much more.
5. Invest in continued training
Additional training is an upfront investment that can significantly change your business and your life. If you have never learned the intricacies of basic skills, such as negotiation, closing techniques or understanding contracts, you need comprehensive training to get you up to speed in order to compete. But with that being said, real estate is always fast moving. Continued training will give you the edge you need to stay sharp, current and ready to work with your clients as the confident professional they require.