4 Success Tips Experienced Real Estate Agents Aren’t Telling You
Real Estate Agent
noun [ C ] US
UK rɪəl ɪ.steɪt ˌeɪ.dʒənt / US ˈriː.əl ɪ.steɪt ˌeɪ.dʒənt
A person who sells and rents out buildings and land for clients; an estate agent.
The dictionary defines a real estate agent as someone who arranges the selling, renting or management of homes, lands and buildings for the owners. It is a job role created with the need to satisfy the basic requirement of housing. When you look at it from a broader perspective, real estate may seem like it’s just about selling property in Sri Lanka. Easy, right? But No.
True real estate sales agents are much more than that. Their skills, experience and knowledge help them flourish amongst many ‘agents’ and create a well-established client base. But what makes them so good at their job?
It’s not just about selling
You definitely need to know how to sell a property to secure clients and become a house rental agent. But it’s not just about that. The big picture behind selling a property is that you are finding a space that will one day become a home for a person or a family. And convincing them only through the numbers will not get you anywhere.
A secret of successful real estate agents is how well they’ve developed their people skills. To be able to communicate with your client on a personal level and relate to them is a guaranteed pathway to securing a sale. So work on creating a relationship with your client. Understand what he or she is looking for and work to the best of your ability to help them find exactly that.
Besides people skills, to be a successful rental agent, you should also develop the ability of capturing images and writing content. The images you use on your ad could either make or break a potential sale. At the same time, the words you use also have a lot more convincing power than you imagine. Find the right words to use and read up on how you should structure your ad before posting it.
Flexibility and longevity determine your success
As a real estate agent who functions independently, you need to step out of the ‘employee’ box and think in terms of an independent contractor. This is because your success in the real estate industry depends on how well you perform. You are in control of your growth as an agent and a business, and investing in networking, creating long-term goals and developing flexibility are a big part of becoming successful.
Think in terms of a small business. A small business that is new to the industry has the flexibility to try out new things and learn as they go to become successful. Apply the same concept to yourself and work on improving every aspect of your business.
Create a plan
A business without a plan is one that will eventually fail despite initial success. To maintain a constant upward trend in sales and the overall performance of your business, it is important that you develop a plan early on. Include details on the target market, long-term goals etc. and develop your insight on the industry. Learn about the market, the new trends, and look for what you can use to set yourself apart from the competition.
Entering the real estate market is easy, but succeeding in it depends on your effort. There are many agents that work in the real estate industry. That is why, like any normal business, you need to work on developing a competitive strength. Even after you’ve secured your first client, think beyond just that one, and aim at continuous success in the long run as well.
List your sources
To perform your job as an agent, you need to approach customers. But with real estate, reaching customers isn’t as easy as selling an essential good in a grocery store where people walk in looking for what they want. With real estate, you should be the one taking the first step—at least in the beginning. Before you establish a name for yourself in the industry, there is no way a client will be able to find you amongst the rest of the other agents. Other times, because of the scams taking place with agents, some don’t even trust real estate agents when looking for properties.
That is why it is your duty to convince them that working with you will be the best decision they will ever make. To start with this step, you need to first mark out how you are going to build your customer base, where you are going to find them and what is the best method to approach them. But remember that the strategies you use for this will also vary based on your target market.
Approaching a client who is looking for a commercial property is different from someone who is searching for a home. As a commercial real estate agent, you will need to know about the competition in a particular area, the foot traffic, amenities, etc. These are key factors entrepreneurs consider when setting up their business. So start by putting yourself in the client’s shoes and think of what he or she would be focusing on when looking for property. Then consider different avenues you could use to reach these clients.
When starting off for the first time, it is difficult to build a steady customer base. But working on it and finding the right source for it shows your capabilities as a successful agent. Look up on websites where people post wanted ads and approach them, pass around your business card, advertise yourself online and maintain active social media profiles. You could also consider blogging and guest writing on famous real estate platforms with your byline to get more exposure for your business.
Since there are many agents in the industry, getting noticed isn’t as easy as it seems. There are different kinds of properties in the industry, and the clients looking for these are also different from one another. But by looking at the bigger picture and understanding your role as an agent, you will be able to outdo any competitor easily. So keep working harder and you will succeed in no time!
Posted Date: 7th January 2021