Real estate agents are a highly diverse group of individuals differing in age, experience, expertise and personalities. Yet, there’s one thing they all have in common – the drive to make a successful living through a rewarding career.
If you’re a new real estate agent, only starting to get acquainted with the fast moving business of real estate, closing transactions, establishing and maintaining client relationships, it might be easy to feel overwhelmed by the big numbers and the success of other, more seasoned agents. The good news is that there are practical measures that you can carry out that are sure to help you boost your profile on the market, whether you’re an individual agent or working with an agency.
The following are 10 great tips that you as a real estate agent will surely benefit from if you allocate the necessary amount of time and attention to each one. Then it’s up to you to test and see what’s working for you and which tools are most helping you become successful.
1. Do not overestimate your success
It’s great to be confident, but before anything else, keep in mind that it will require a considerable amount of hard work, patience and determination before you are able to see yourself closing your initial deals. Be prepared to roll up your sleeves and put in all the extra effort that is required. It’s very competitive out there, with many other agents ready to capitalise on the opportunities you miss out on.
2. Do not underestimate your success
It may come across as contradictory, but at the same time, it’s quite reassuring to know that the right attitude and approach are valuable and helpful in bringing you closer to that great first sale. Start off by believing in yourself and do not be afraid to take on a big opportunity that comes by. Even if you are not entirely sure how to handle it – work on it as you along.
3. Identify your niche
As demand increases, buyers will start coming up with highly specific requests and they expect these needs to be met. Is there a particular area in your region that you know extremely well? Is there a property type that you feel the most comfortable selling? Identify that section on the market in which you feel you might have an edge compared to your competitors and focus on it. It will increase your confidence and help you establish yourself as the go-to person in that niche.
6. Build a rapport with your demographic
Now that you have identified your niche, get to know as much as possible about the buyer type that you are most likely to encounter. If you want to sell luxury homes, who are the people who will be looking for the houses you are trying to sell? What do they do? Where do they go out? What is their average age?
5. Attend community events
Keep in touch and updated with what is going in your area. Attend events that will help you be in touch with key people and any developments that will take place in the near future. Regularly attending these events will also help the other people to familiarise themselves with you and recognise you more easily. This can be highly beneficial to generating and maximising referral business.
6. Give out your business cards to everyone
While you’re in the crowd, make sure you hand out your business cards to as many people as possible. Having different people in different places have your contact details ready to be handed out to a relative, friend or client who might need your services holds great value.
7. Keep a regularly updated contact list
Start compiling a detailed and organised contact list from day one. This can include prospective clients or important partners that can refer business your way. It is extremely important to regularly update and expand this list as this is the primary source that you will be looking through, possibly each day. Keep detailed notes about your contacts, including their availability, preferences and any other useful information that should be kept in mind.
8. Prospect over the phone and follow up regularly
Don’t be afraid to pick up the phone and make that first call – it might end up leading you to close a great deal. If you feel that someone may really benefit from what you are offering, or there’s a potential partner that you feel you can collaborate with, there’s no harm in introducing yourself and establishing contact. You might not be successful this time, but it might happen for you the next time round.
Similarly, keep the contact going by following up with a call or email to determine the outcome of the first meeting. A high percentage of business deals end up never happening because one of the parties does not follow up. Do not miss out on a great opportunity simply because you did not make that call or send that email. Keep your client relationships going.
9. Deliver value and care about helping your clients
Once you have managed to get in touch with your prospective clients and introduce yourself, make sure they know that you are available to help them and that you genuinely care about delivering the best possible option. Even though this is a business relationship, it needs to be one based on trust where the client feels that you are a reliable and trustworthy point of contact.
10. Manage your time well
As you start becoming more established, your business expands and your to-do list becomes longer and longer, it’s essential that you manage your time well. Make sure that you allocate an adequate proportion of time to client meetings and time to regroup and organise your resources so that you are immediately ready to start and be efficient the next day. Be on time for your meetings and schedule your tasks in a way that you allow yourself some breathing space and can remain on top of your game. There will be days where you don’t manage this, but don’t let it become the norm.
Malta Sotheby’s International Realty are currently looking for talented sales and letting associates to join the dynamic Malta team. If you have a flair for luxury and an interest in the local real estate market, kindly forward your CV to Miguel Bonello, General Manager, in strictest confidence on email@example.com. For more information kindly get in touch with Miguel on (+356) 9910 8073.