Whether you chose to transition to real estate from another career or just started out in the workforce with your first job as a real estate agent, mentally preparing for the new role is necessary. This article will share some essential tips that every new real estate agent should take to ensure that they are ready to bring their A-game and excel at meeting client’s expectations.
Understand How Real Estate Works
Once you have aced the first step in becoming a real estate agent by passing your exam, you should take some time to shadow and utilize the knowledge from local pros. Visit local brokerages and let them know that ready to begin your career and are looking to learn from their experiences. Most agents and brokerages are typically hiring, so to have an agent come to observe is welcomed. You can shadow listing appointments and showings, sit in on team meetings or one-on-one informational meetings. Taking the time upfront to learn about the real estate process works will allow you to pick the right niche or brokerage.
There is the option to work as a transaction coordinator for a tenured agent or work on a real estate team. Working in this capacity is often helpful to learn about different aspects of the real estate transactions and allow you to get a percentage of the commission or work for an hourly rate. In doing this, you can ease into the new role by learning from your coworkers, and then when you’re ready, you can go out on your own with a complete understanding of how real estate works.
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Become an Expert in the Areas You Serve
In real estate, you will have an array of clients from the area you live in or new to the area. They often will have questions about the demographics of a specific community, school ratings, and walkability. They may want to know about safety percentages and proximity to waterways or concert venues, for example. Since most real estate agents service multiple zip codes surrounding the city they live in, it is vital to research these areas.
There are plenty of resources available to find statistical information on various topics, including the local chamber of commerce, city websites, and attending community events. The information you seek out can also be used in your marketing material and content to add to your website or newsletters that you send to your sphere of influence. Just knowing the places where you can get answers is a valuable tool. If you don’t have the answer to a question you’re asked, you can simply say that you know where to get it and can get back to your client shortly.
Brush Up on Your Sales Skills
When you first start out, you may not be as busy as you would like. Prospecting your sphere of influence, doing warm calls, and looking online to find for sale by owner listings (FSBOs) may be a part of your week’s work activities. These methods are good ways to interact with potential clients and get listings, but you should practice ahead of time.
Creating a script for different call scenarios with possible rebuttals is a great way to keep the flow of your phone call in line with your purpose. Practicing ahead of time with a friend, coworker, or family member is also helpful. It may seem silly, but the more you practice, the better you will be when you find yourself in an actual situation. The saying remains true, practice makes perfect!
Once you win that appointment, your potential client may be hesitant to hire you because you are new to real estate. You need to sell yourself at this point. Maybe you have an excellent marketing history or used to market another product. You know yourself best and getting an elevator pitch prepared on why your clients should work with you is an essential skill to brush up on.
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Learn About the Negotiation Process
Negotiation is almost always a part of a real estate transaction. Study the current market and make sure you understand the current trends and patterns. Brushing up on your skills in this area is beneficial and key to winning a listing or getting an accepted offer for your client. Negotiation should always be done, highlighting the positive aspects of the situation, and keeping everyone’s best interest at the forefront.
There will be times that you find yourself in a hectic or stressful situation, so learning skills to mitigate and diffuse negotiations going bad is essential to keeping the deal together. Each party of a transaction has its own point of view and things that are important to them. Talking things through, listening, and allowing time to understand can help with de-escalation in any situation. This is such a broad topic and takes time and practice to work through all different scenarios.
While working as a real estate agent, you must complete continuing education (CE) courses every year. Many of those CE courses cover the topics discussed in this article and can be found by contacting the real estate board you belong to. Additionally, your state and the national association of realtor websites have many different avenues for you to prepare for your new role. Utilize your open schedule and educate yourself as much as you can so you can provide that next level of service to your clients.
About the Author: Brooke Tanner is a Real Estate Express alum and real estate agent at Coldwell Banker Schmidt in West Michigan with over 20 years of customer service experience. She strives to be the best resource and trusted advisor for all buyers and sellers by staying on top of industry changes and trends.