The life of a real estate agent can appear glamorous with flexible hours and high earning potential. Being a realtor is a massively rewarding job with flexible hours and high earning potential. But before you quit your job and set out to become a real estate agent, we should tell you that becoming a realtor is a lot of hard work.
In this post, we’ll cover tips for becoming a successful real estate agent. We’ll also explore what it takes to become a real estate agent, how long would it take for you to get settled into a job, and whether it is the right job for you. Without further ado, let’s dive in.
How to become a successful realtor in India?
The real estate business has become more organized in India over the past few decades. The introduction of the Real Estate (Regulation and Development Act), 2016 (RERA) which seeks to protect home-buyers and boost investments has brought in a lot of regulations. The act mandates the registration of property agents with the concerned state-level real estate regulatory authority to obtain a RERA registration number or license, which is usually valid for five years.
Typically, the licensing and registration requirements in India vary across each state. For instance, in Uttar Pradesh, realtors need to pay a license fee of Rs 25,000; whereas a real estate company has to pay Rs 2,50,000 to obtain a RERA license, which can be renewed after five years by paying a nominal amount. In Maharashtra, however, a company has to pay around Rs 1,00,000 to obtain the license, whereas the fee for individuals is Rs 10,000.
Just like the fees to be paid for obtaining the license, the registration process under RERA also differs across every state. Each state has a separate application form. Along with the duly-filled application form, the agents also have to submit a copy of the following documents for registration:
- Particulars of the applicant
- Income Tax Returns for the last three years
- Authenticated copy of address proof
- Copy of PAN Card
- Details of registration in any other State
RERA authority usually grants the certificate to the agent within 30 days of the receipt of the application. To know more, click here.
Why should you consider becoming a professional realtor?
There are a lot of great reasons to become a real estate agent -you can make your own hours, earn good money, and help people realize their dream of owning a home. But, the catch is if you are anyway going to put all that hard work and effort into becoming a realtor, you might as well become the best one anybody can find.
How to become a good realtor?
Whether you are new to the real estate business or you have a lot of experience, there is always room for improvement, so keep reading. Here are a few tips to help you become a successful and enterprising realtor.
Master the art of communication
People do not buy from businesses. They buy from people. Just like any other business, real estate and its customers love good communicators. A client would not want to work with a realtor who is too busy to listen to their needs and concerns. People love being heard and they will love you if they feel that you are listening to them and their needs. Buying or selling a home is very emotional, and clients always want to be sure before making a move. Be a nice guy, communicate well, and leave your clients so happy that not only will they continue to use your service, but they will also recommend you to their friends and family.
Leverage email and digital marketing
Realtors usually ignore the power of email marketing assuming it is not their cup of tea. But there are softwares that have lately made email marketing super easy to do. Add your clients to an email drip campaign and stay on the top of the mind of your clients without much effort or cost. Keep in touch with all of your clients and associates. As a realtor, you need to determine which clients are ready to make a purchase and who are just interested in keeping in touch, and run your campaigns effectively in a personalized manner.
Even after you help your client find their dream home, it is always important to keep in touch with them. Well, that doesn’t mean contact them all the time. Even sending wishes once in a while or congratulating them on their achievements will do wonders for your business. These little things matter. Keep in touch enough so you remind them that you are still in touch. Only when you care enough to keep in touch, would your clients be interested to recommend you to friends and family.
Create your presence online
Make sure you have a website, get on social media, and share information about you and your business. Clients love consuming information and content online which makes marketing easier if you have an online presence.
Don’t waste time on lukewarm leads
Size up your clients to understand whether that person is a serious buyer or is “just looking”. There is a fine line between the two and with experience, you’ll learn how to understand the difference and find success. Develop a system internally to identify hot leads and separate them from the rest so you can focus all your energy on them.
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