Want to succeed in your profession as a real estate agent?
Here are some basic yet essential things you should be aware of and some mantras you need to follow.
If you are just starting your career as a real estate agent, it can be daunting to make important decisions and take appropriate actions.
A successful real estate agent understands the need to constantly upskill, research, market, and be prepared for any kind of real estate market trends. You could be passionate about selling homes and real estate properties to people but you must remember that this is a business and you should be ahead of everyone to succeed.
This blog will help you understand what this profession seeks to build a rewarding career as a successful real estate agent.
Educate yourself about the real estate market and get your Licence
Would you want to go to a licensed doctor or just any pharmacist?
You, and anyone for that matter, would like to be diagnosed by a licensed doctor.
Even real estate customers want to buy properties that are RERA approved, by real estate brokers that have a license.
And to get a license, you must be educated about the real estate market. Improve and enhance your knowledge base by attending courses, researching about the market, training/ interning with professionals, and gathering data. Get familiarised with the laws, paperwork, contracts, and jargon in the real estate industry so that you can work more efficiently.
Getting your education and license will earn you an entry ticket into the real estate business and make you competent in the field.
Know your real estate area
You need to educate yourself about all the real estate properties in the neighbourhood and in the area that you want to sell. Only when you know the properties and their owners, can you suitably deliver the perfect real estate property to the right customer.
Go around the city, talk to property owners, and discover potential properties that you can help sell.
In the process of choosing properties you want to sell, talk to the owners about how they can make their homes more attractive so they can sell faster and at a good price.
At the same time, you can educate your customers about the market trends, conditions, and pricing. You can compare properties that they can choose from.
That being said, you can always choose to get specialised in a specific stream in the real estate world. It could be apartment units, plots, farm lands, commercial, hotels, or lease, rent, sell, etc.
Once you look at the entire market scenario, you will be able to choose what best suits you.
Have a real estate guru
This journey in the real estate business is full of strategies. It is about finding opportunities and making use of them. Having a mentor will help you understand and navigate better throughout.
Look for an experienced real estate agent who you are willing to take advice from. You can seek knowledge from him by asking him about some real estate properties, marketing strategies, financing and budgeting, and unmissable tactics to win over clients.
Attend real estate and related seminars to come across such professionals and also to educate yourself about the market and its dynamics. Sign up for newsletters from reputed agencies. Online courses can also help you get a good understanding of the real estate market.
Attend networking events
Make sure to attend community and real estate gatherings. You can get to know a wide range of players in the real estate market at such events. Once you are clear, you can have your stall and give out brochures, and business cards and connect with people to show your presence in the real estate market. If they like the properties that you are selling, they will approach you and if you collect their details at the event, you can contact them.
Grow your circle. Word of mouth and referrals go a long way in fetching good customers. Networking plays an important role in the real estate business. Do not leave your friends and family, nor any real estate events in the community. Use every opportunity to establish connections and expand your network.
Remember to list down all the contacts and leads that are generated through ads, events, etc, and use data management tools like Google Spreadsheet and Microsoft Excel to organise the data for maximum benefit.
Market yourself as a real estate agent
Do you sit and wait for customers to approach you for real estate deals?
Everyone needs to market themselves, especially if you are just starting.
Marketing is an intense process that needs proper strategies to bring value to the money you are spending. Don’t be stringent that your very first strategy must work out for you. Be ready to make mistakes and learn where you went wrong.
Look around and see how veteran real estate companies/ agencies in your area are making things work for them. How are they winning clients? What can you learn from them?
If you want to be professional, look professional.
You must dress well. Wear clean, decent, and ironed clothes to look confident and appear competent. First impressions about your looks and mannerisms leave a lasting impression on the customer’s mind.
Digital Marketing and Online Presence
Sticking up posters or printing ads in the newspapers are traditional marketing practices.
This is the era of digital marketing. Everyone is looking at online platforms. You need to be well-equipped with technology to stay ahead of the competition.
Digital Marketing in real estate includes having a website, a YouTube channel, an Instagram, Facebook, and LinkedIn accounts. You could make videos/ reels and post informational/ educational/ entertaining creatives on social media to constantly keep in touch with the property buyers.
You should run ads on Facebook and Google because that is how you can reach your target audience. It is one of the best ways to make a mark in the market.
Do you want to learn how to run ads on Facebook and Google?
Read our blog!
How to Set Up a Facebook Ad Campaign?
How to Set Up a Google Ad Campaign?
You can also engage with the customer by email marketing and sending broadcast messages on WhatsApp/ Telegram with information about real estate in general or some promising properties and deals.
Use high-quality images and videos to showcase the real estate properties that you are selling. You should work with a professional photographer to help you cover all the best angles and render perfect images for marketing.
Video marketing is in trend and you cannot skip it. It may not be feasible in the beginning stages but as and when possible (as the budget and experience allow you), make sure to upskill and shoot videos to promote properties. Here is our blog to help you understand the importance of video marketing.
Do you have a marketing plan?
Marketing is not always free. You need to plan your budget and allocate part of it for marketing. You can:
- Run Facebook and Google ads
- Take beautiful videos and photoshoots of real estate properties
- Develop your online presence with a website and social media
- Design and print visiting cards, brochures, etc.
- Create captivating content for newsletters, brochures, websites, creatives, etc.
- Print ads for newspapers and billboards
- Advertise on television and radio
But if you are the best at what you do, word of mouth from your customers to other potential clients is an awesome way to freely market you and your services.
You just need to be as visible in the real estate market as you can. So that people know that they can choose you – you just need to give them a reason why.
Are you the best-trained real estate agent?
Are you an expert in helping clients find their perfect home/ property?
Why should they choose you?
Think in these terms and start working on your marketing strategy.
That being said, marketing is very important and you must have a well-planned strategy to make the most out of the money you spend on marketing. See what works for you and follow it. At regular intervals, take a look at what is working for you and re-plan your tactics.
Keep up with the trend
Do you know what are the current trends that are influencing the real estate market?
You should be aware!
Well-aware that too.
Property buyers want their homes to resonate with their lifestyle, they want to live in communities with a sense of belonging, they love landscapes, and they support greenhouses and sustainability.
When you are hunting around the area, look for these charmers.
When you are showing customers a property listing, see if you are presenting the property with their best interests in mind.
Buyers want to go through your website before visiting your office. They want to have virtual tours with drone shots before they walk the site. They want well-presented pictorial depictions of the property before making the purchase.
All these need technology and you cannot forgo the customers’ needs if you want to succeed.
Track your finances
Money is not consistent in the real estate business.
You could be up nights and on weekends, trying to close a deal. But it may not happen.
So, a big mistake would be postponing to tally your income and expenses. Use online software tools to help you keep track of all your earnings and spending. You may have to save regularly in order not to be prey for the market dynamics. Prior planning will help you achieve your financial goals and observe your money.
Set financial goals, and budget, and keep track of your finances to function at your best with the available resources.
Manage time cleverly
Sometimes, you get stuck with one client for weeks and they may end up not buying any property. Choose properties and clients carefully so that you do not have to waste your time and energy trying to match incompatible properties and clients.
You should be able to excuse yourself and show up on time for all your appointments.
Yes, you will have to put in more effort and time during the initial days till you get a knack for the system. But once you acquire this skill, do not spend more time than necessary for a deal. Nevertheless, you should always utilise time effectively for every task to prevent stressful periods. Passive learning about the real estate market for instance may not interest you but you should allocate time and finish the task.
You may use task management tools and to-do lists to keep track of and organise your day. Once you start planning your day and list the tasks to be accomplished, you will see visible progress in how effectively you use your time.
Connect with your customers
You must establish a good rapport with your customers if you want to truly succeed in the long term. Once you close a deal with someone, stay in touch with them. They might connect you with more customers and even if not, you can still learn a lot from just that connection.
And if you are just beginning a journey with a promising lead, you should make sure that he trusts you. Only if they know that you have their best interests at heart, they will want to travel the tough real estate road with you.
Strong relations are key to closing deals and earning trust which will help you get more customers. You need to guide them with the transactions and through the buying/ selling process.
Seek client testimonials and post them on your digital platforms. Positive reviews and real proof will help gain your customer’s trust.
Negotiation skills
How well do you communicate?
Can you negotiate prices between the homeowners and sellers?
First thing, actively listen to what the customers are saying. You can understand their preferences and likings which will help you get them the perfect property. And when you hear them out, they know that you are actually listening to them and hence would like to work with you.
Secondly, you should be able to communicate with both parties i.e. property owners and property buyers to avoid any confusion about their preferences, prices, etc.
When you have finalized a property, you should have excellent negotiation skills to negotiate the price and get the best deal for your customer.
Being a real estate agent may be stressful at times but it is a promising career if you like to deliver the perfect properties to the buyers. You just need to mindfully navigate the market. With the right tactics, you can earn plenty in the real estate business!
All the best on your real estate journey! If you are looking for a platform that will help you grow as a professional realtor, mymagnet is for you! Join us to build your brand as a real estate agent.