Stand Out in Today’s Competitive Market
The global real estate industry is packed with opportunities. After all, every property sold, every investment asset secured—all of them cannot be done without the expertise of a real estate agent. Given the huge potential and lucrative jobs up for grabs, it’s no wonder so many individuals around the world are attracted to the profession.
However, as with any career, successful real estate professionals aren’t born overnight. Instead, it takes time, dedication, and a whole lot of skills, expertise, and hard work. It can be done, though, and in this blog, we’re going to uncover how to be a successful real estate agent, the essential traits you need, and how to step onto the path to real estate success and, most importantly, stay there.
Essential Real Estate Agent Skills
Property viewings, home stagings, and contract creation and negotiation—a career in real estate promises endless responsibilities and opportunities. But as well as having the ability to spin these aforementioned plates, behind the scenes, a successful real estate agent will also have to delicately balance a number of skills and mindset approaches.
The ability to talk or sell well is essential for many careers but none more so than in real estate. In fact, real estate agents who act as the bridge between buyers and sellers must be able to communicate ways to ensure everyone is on the same page and that all needs and expectations are being met. What’s more, it’s not just about what they say; listening is also crucial and can be the difference between surviving and thriving in the property world.
For example, if a real estate agent can identify and understand their buyer’s priorities, they can likely shortlist and present a better range of properties. What’s more, being clear when it comes to current market conditions and trends can help determine a seller’s pricing strategy. As individuals, we value honesty and transparency. By keeping all parties informed at all stages of the property process, a real estate agent can do wonders for their reputation and client satisfaction.
One of the most important aspects of real estate is, indeed, sales. For this reason, successful negotiation skills are required. To do this effectively, a property professional must understand current market conditions and be aware of the buyer and seller’s priorities and expectations and the balance between the two.
Negotiation requires first-class communication, confidence, and outside-of-the-box thinking. When used correctly, it is very beneficial. For example, a real estate agent could save a deal from falling through by finding the middle ground between the two parties and negotiating new responsibilities. If a deal is close to the end, a real estate agent could use their negotiation skills to speed up the process and get it over the line.
We live in an ever-evolving digital age, and how properties are viewed and sold has changed dramatically, with many now opting for online alternatives. Therefore, as a real estate agent in the 21st century, you must be able to market properties to a range of audiences. This includes taking the right photos and videos of the property, creating enticing property descriptions, and leveraging social media, email marketing, and search engine optimization to ensure the property reaches as many people as it can.
Of course, it’s also important to market to other people, which is why traditional marketing methods deserve their place. But, in short, a successful real estate agent understands the diverse audiences in the market and can market properties and services in a way that resonates with each and every one of them.
The Path to Becoming a Successful Agent
While the above skills are crucial for real estate agents to keep pace in the market and stand out from the crowd, that’s not all that is required to be successful in the market. Indeed, there are various other techniques and best practices that can help you to get onto the path of becoming a standout agent:
Education & Training
As with many professions, there are several courses and accreditations that you can complete to help advance your career. While you don’t necessarily need to enroll in these courses, they will help you stand apart from the crowd. Enroll in a solid foundation course to get your real estate license and consider advanced training in specific areas, such as negotiation. You could even branch out and train in specialist property subsectors, such as property law, commercial real estate, or appraisals, to broaden your expertise and give you a unique selling point in your skill set.
Just like other industries, the property realm might look vast from the outside. But, once you’re in it, everyone knows everyone, and when you’re working in the same regions for a while, you’ll come face-to-face with the same names over and over again. Indeed, the real estate industry thrives on relationships, which is why it’s so important to spend time building these. Attend industry events, join real estate clubs and associations, and actively take part in community and industry events to build connections and a network.
Learning from someone who has been there and done that is always a great idea. Not only can you discover how they got to where they are today, but it’s likely they’ll share any challenges and pitfalls they faced to help you on your path. Consider finding someone with a few years of additional experience compared to you, and be sure to use their knowledge and expertise when you need it.
Develop a Niche
One surefire way to stand out in a saturated market is to find what makes you different from the rest. Give your clients and potential employers a reason why they should choose you over someone else. In real estate, this comes down to your niche. From commercial spaces, rental properties, luxury homes, or even holiday homes, spend time researching different niches and find an area you’re passionate about. Then, become an expert in the field.
Technology is transforming the property industry, and to keep pace, real estate agents must embrace the various systems available to them. From CRM systems to virtual tour software, these tech solutions can mean you’re better able to serve your clients, and many offer professionals huge advantages when it comes to work efficiency and speed too. Plus, if you don’t embrace such technologies, your clients will likely find an agent who does.
The truth is, if you want to exceed your colleagues and competition in the industry, you need to strive to never stop learning. And, in such an ever-evolving environment as real estate, there is always something new to learn. Attend workshops, seminars, and webinars and stay up-to-date with the latest news, market dynamics, and trends. Not only are these professional development events a great way to brush up on new skills, but it’s another way to network and grow your book of contacts too.
Build an Online Presence
We’ve touched on the importance of a variety of marketing techniques that real estate professionals can tap into. But another way the online realm can propel a real estate agent toward success is by having an online presence themselves. Whether it’s a website or a social media channel, this is a great way for agents to promote their services, build a network of followers and potential clients, engage with their following, and tap into new audiences. You could even share your thoughts on industry news and trends to help position yourself as an expert in the field, and it’s a great place for satisfied clients to leave reviews, which you can share and use to promote your work. In this day and age, a website or social media channel is like a traditional shop window, so spend time ensuring that it reflects who you are.
Offer Exceptional Service
At the end of the day, real estate success often comes down to client satisfaction. Therefore, as well as the right industry training and contacts, you need to ensure you’re prioritizing the needs and expectations of your clients. What’s more, evidence that you’re going above and beyond—be it providing essential insights or being flexible with your time and arranging a viewing out of office hours—can earn you client loyalty, referrals, and repeat business, all essential for industry success.
Set Clear Goals
Setting goals is a great way to challenge yourself, helping to push you out of your comfort zone and develop new skills and capabilities. It’s also a great way to identify areas that need a little improvement. Be sure to create a goal that resonates with you and your future aspirations. It could be based around the number of properties you want to or specific income targets. You might want to expand into a new region or specialist niche. Either way, setting tangible goals is a great way to stay motivated and also look back at how far you’ve come.
Stay Motivated & Resilient
It’s important to remember there will always be tough times. Deals will fall through, you will have to face challenging and unhappy clients, and the likelihood of the market changing is high. However, perseverance and resilience are the traits of a successful real estate agent. Instead of seeing setbacks as failures, view them as an opportunity to learn and remember to keep pushing forward.
Additional Best Practice Advice
Of course, it goes without saying that success in the real estate industry isn’t just about the above 10 tips. Instead, it’s a combination of several factors, including the following:
- Ethical Behavior: As mentioned, people value honesty and integrity, which is why you should go above and beyond to behave professionally at all times. This builds trust and helps you foster long-term relationships, which are crucial for a successful career.
- Be a Knowledge Base: As well as staying up to date with industry news and trends, it’s a good idea to keep up with any legislative changes—new and upcoming. That way, you’ll be better prepared to advise your clients, and they know they can come to you in the future for advice.
- Time Management: As a real estate professional, you’ll be required to work with lots of different clients, all of whom want your undivided attention. The ability to juggle multiple clients and their listings is essential, albeit a little challenging. With effective time management skills, however, you can be sure to meet your commitments and deadlines, as well as client expectations, without burning out.
- Adaptability: Just like other industries, the real estate market is fast-moving and can be unpredictable. It’s important to stay agile, with the ability to adapt and revise strategies and services as necessary. Plus, if you can show your clients you can be flexible, they’re more likely to trust your expertise, especially when situations can get a little challenging.
- Ask for Reviews: We’ve mentioned that websites can be a great place to showcase testimonials, but it’s important to ask for them in the first place. After all, they’re a great way to boost your reputation, so get into the habit of asking satisfied clients once a deal is done.
The real estate industry is rife with opportunities, but it can’t be denied that there could be challenges along the way. However, that’s not to say you can’t enjoy a successful career as a real estate professional. Instead, you need to equip yourself with the right skills, seek ways to continuously grow your knowledge and understanding, and remain committed and dedicated. With these tactics, real estate success isn’t just possible, it’s inevitable. So, if you’re considering a career in real estate or simply want to take your current career to new heights, remember these tips and don’t give up.