5 Things Successful Real Estate Agents Do Well

Every successful real estate agent has learned how to navigate these 5 challenges.

Whether you’ve just got your Real Estate license or are a seasoned pro, you need to master these 5 things to be successful., Most real estate agents start out thinking something like, “ah, to be a real estate agent – the freedom of being your own boss and making your own decisions, what’s not to love?” Taking the plunge and getting your license is exhilarating, but there are inherent challenges that lay before you that can seriously derail your plans to rule real estate. If you’re a seasoned professional, it’s easy to forget some of these due to changing market conditions. So we put together 5 things we’ve learned so you can be even more successful.

1. Make sure you let everyone know that you are in real estate

Just because you shared on various social media platforms that you were changing your profession that people would remember when the time came for their next real estate transaction, they don’t. Your friends and acquaintances will still ask what you are up to these days. You must work that sphere of influence, get out and talk with people, make phone calls, and send mailings letting them know you are in the business. It may take you out of your comfort zone, but in the long run, it is worthwhile. There will be times when people you know will use a competitor instead of you. Don’t sweat it; remain calm and offer yourself as a resource professionally and courteously and that will be remembered in the future. When you’re meeting people, make sure you connect and introduce yourself as a Real Estate agent and make sure you get their contact information so you can keep in touch.

2. Build relationships with lenders in your area

Whether you’re working with buyers or sellers, you need to build relationships with lenders in your area. These relationships are valuable as they provide insight into changes in financing rules and give guidance on the proper type of loan terms to recommend to your seller. It’s important to find one that blends well with your work ethic and personality style, along with the personality style of your client. Once you have a few, you like to work with set expectations ahead of time for when you refer clients their way. Ask for credit approvals instead of per-approvals. This is much more in-depth as the lender takes a deeper dive into the client’s financials, so the deal is less likely to fall through during the underwriting stage. Spend that extra time, as it may reduce the number of days to get to the closing table. If you’re a good fit for the lender as well, they may send referrals your way.

3. Avoid the lookers and time wasters

When you’re new in real estate and begin receiving calls, you will be so eager to get out there, show properties, and utilize the knowledge learned. Hold your horses, don’t just run and meet anyone at any time that requests it for a few reasons. You will find that there are people that just want to “look” because they have always wanted to see that home or they think it’s cute. Is this person even qualified? if so, what terms do they qualify for? Do they have a home to sell first? Is this home even in the area where they are looking to live? Button up these things first because if you don’t, they will take you from home to home, weekend after weekend, and waste more time you are giving them for free. First, ask them to meet at your office for a consultation to get a feel for their personality and complete a needs analysis. If they’re serious, they will gladly meet and appreciate your professionalism. Have them put some skin in the game with you, and it’s worth it.

4. Set your schedule ahead of time

Look at the week ahead of time and plan out your days. Whether you have phone time to call your sphere of influence, email and social media marketing time, or volunteer at your child’s school, block off the time. You need to plan for emails and social media time as part of your daily routine. Incorporating social media networking and newsletter emails are no longer a luxury they are a necessity for success. Any open slots you have left during your working day is available for your clients. If someone calls and wants an appointment during your blocked-off time, propose additional time slots you have open that may work for them. This shows them that you are organized, you commit to existing appointments you have made, and that you are a true professional. Any other professional has appointments blocked off or days and hours they don’t work, and it shouldn’t be unexpected if real estate agents also do. Real estate agents are professional business owners and need to portray themselves as one.

5. Don’t be afraid to end a client relationship

Inevitably you have a client that takes up so much of your time looking at houses that don’t match what they initially tell you they were looking for. They’ll put in lowball offers time after time, and of course, they’ll always get rejected. If you express your concern, they may say, “if you don’t want to write the offer for me, I will find someone that will.” You’ll kick yourself for not saying fine and politely ending your relationship. It’s a misconception that the customer is always right, and you need to do everything they ask to make that commission. Your time will be much better spent with quality clients, your family, and your friends. Don’t waste your human resources, you are valuable and shouldn’t be taken advantage of. You will get more clients that you connect with and it will make your new career much more fulfilling.

Build stronger relationships with clients, generate more sales, and motivate clients to take action.