Like any career becoming a great real estate agent take time and persistence. In saying that there some habits areas buyer’s and seller’s alike value in a real estate agent.
1. Local Knowledge the Market
It’s almost a given but you would be surprised at how many Real Estate Agents overlook this component. A good real estate agent knows and understands the area they are operating in and has a deep understanding of the area’s market. How have property prices previously reacted to changes in the economy and what is the long term trend? These are important questions and worth developing strategies around.
2. Local Knowledge the Area
A softer approach is the cultural highlights of your area. What are the main attractions and where are the schools, Train stations and other key buying considerations. It is worth getting to know the unique attributes of the areas you work in. These minor details are appreciated by property buyers who may be unfamiliar with the area. Remember home buyers are looking for a lifestyle as well as a home.
A recent report from CoreLogic pointed out that 15% of real estate agent’s ability to follow up was poor. Focus your energy on keeping the vendor happy. This means a constant stream of communication between yourself and the vendor. Don’t wait for them to call the office, always follow up.
A real estate agents job is to manage expectations. When talking to clients real estate agents will over extend themselves promising to do anything and everything. Stay grounded, only promise what you can deliver, then execute flawlessly.
5. Negotiation Skills
One of the most highly sought after qualities of an agent is negotiation skills. Currently, 21% of properties sell below expected price with 5% not selling at all. Agents should be able to negotiate effectively with multiple stakeholders and identify the right offer.
6. Understand the Purchase Process
The majority of the time you will be interacting with buyers / vendors who are not familiar with the details of selling / buying a property. A good real estate agent understands the purchase in depth and can communicate this effectively to clients.
7.Build a strong buyer / seller network
A strong determinate of the success of a real estate agent is his or her ability to build a strong network of buyers and sellers. This will take time, most agents work intently at growing their network through their entire careers. To be successful in the long run start now.
Of course there are many other attributes of a Real Estate Agent that will make them attractive. We believe these key areas are amongst the most important for an agent looking to grow their careers.
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