How to be a Better Realtor: Practical Tips
If you are already a realtor or if you are considering getting licensed, then you have probably thought about how to ensure your success. The real estate industry is huge, and it does experience constant fluctuations and development. This is why it is incredibly important to set yourself up for success as best you can. If you are ready to take charge of your own career, then read on.
Make Sure You Have the Correct Certifications
This one may seem obvious, but it is worth mentioning, especially if you are new to real estate or if you have recently moved from out of state. Each state has its own licensing requirements, and it is illegal to work without them. You can find a guide to your state’s requirements on Agent Advice, along with a list of the best real estate schools by state and a blog that offers a range of advice.
Always Be Available
As a real estate agent, you may be juggling any number of clients at once, but you need to be able to make them feel as though they have your undivided attention. You should always try to answer your phone during work hours, or if not, you need to follow up as soon as you can. Most of the time, it will be a simple problem with a simple solution; by helping your client, you will be ingratiating yourself with them, improving your reputation and benefitting from client recommendations. You may also want to ask your clients their preferred method of communication; some prefer calls, others texts and other emails. Try to communicate with them as exclusively as possible on that medium. Personalizing their experience is paramount for customer care.
Set Yourself Goals
Writing down your goals often makes it more likely that you will achieve them. Setting goals is important for any businessperson who wants to achieve. It offers you something to work towards as well as provides you with a way to measure your success. Try to make these goals specific, measurable, realistic, and actionable; you should also think about implementing time frames too. How else can you tell how you are doing if you don’t know how you are holding up against the competition?
Your marketing strategies will affect how many clients you get; their importance cannot be understated. To ensure that you are making the most out of your marketing campaigns, you should consider what methods you are using. You can use both new and old schools marketing methods to reach a broader customer base. You also need to define your target audience; after you have done this and found a strategy that works for you, you can begin to duplicate the process across mediums. Finally, think outside the box and always look for ways to improve the efficacy of your campaigns.
Know Your Market
No client is going to trust a realtor who does not have a good understanding of the market in which they operate. There is no excuse for you to be uninformed since all of the information you will need can be found fairly easily online. Your clients should see you as an expert in the field; that is how you differentiate yourself from your competitors. Keep up with industry news and get to know your local market inside and out.
Build Relationships & Network
A successful real estate agent always has a busy schedule. This is done by building relationships with clients and other professional contacts. Fostering these relationships is necessary and can lead to more opportunities. You can ensure repeat business from existing clients or recommendations from clients and professional contacts alike. Your financial gain should never negate what your clients want; listen to them, and help them to achieve their real estate desires. Look for opportunities to network and build up a portfolio of professional contacts. These relationships can be mutually beneficial.
Find a Mentor
If you are new to real estate, then it may be worth finding a mentor, someone who has more experience in the industry than you do. You can learn a lot from your elders. They can take you through the process of selling a house, from the documentation to the intricacies of facilitating a deal. Some brokers do offer training programmes that can be beneficial in providing an on-the-job experience as opposed to learning from a classroom setting. Teaming up with other agents can open up new streams of revenue, although you will have to split the commission. It is important to try and forge positive relationships even though the other agents are essentially your competition, that doesn’t mean you won’t need them, or you can’t do favours for each other from time to time.
The world today is increasingly technologically dependent, so you cannot expect to do well without using it. Therefore, you need a user-friendly website that is optimized for mobile use; it should detail your work and the services you provide. You could also list properties on there, although this will mean that it needs updating regularly. You should also establish a strong online presence on different social media sites. Think carefully about which sites you want to use. They are suited to different ends; for example, LinkedIn is better for professional connections, but you could post listings on Facebook or Facebook Instagram.
Create and Stick to a Budget
Finances are at the core of what makes any business successful. Your incomings need to beat your outgoings in order to make a profit. Making a budget is the best way to ensure that you are within your means, whether you are having a lean month or not. Take the time to create a budget as you begin to accept clients. Track all work-related expenses from marketing costs to lockbox fees and any subscriptions. If you can trim the fat, then do it. You could also try to track your incoming, although this will be harder as you most likely work on commission which means that your income is not always reliable from one month to the next. If you aren’t experienced in creating a budget, then you can find samples online to help you.
Always Screen Your Clients
A lot of estate agents can find themselves immersed in trying to attract potential clients that they forget to assess whether or not those clients are a good fit. Some clients will only waste your time which costs money. Although it can be difficult to ascertain their intentions, it is worth trying to put a system in place. Otherwise, you will find that you end up chasing a lot of leads that don’t go anywhere. The question is, how can you tell whether a buyer is serious or not? This instinct comes from experience. If you aren’t sure, you could use your connections to form a list of criteria.
Becoming a real estate agent is an attractive career choice for a lot of people. However, becoming successful in the field can take a lot of time and effort. The goals that you have set for yourself will help you along the way as you forge a path to success by providing you with metrics to measure your progress.