Looking to start your new career in real estate or researching to see if you have what it takes for the field? If so, there are certain skills that will help you succeed. You don’t have to have a certain personality type, a specific professional background, or the same goals as your colleagues. Many different kinds of people with various skills and backgrounds have found success in real estate.
Here are the 10 most important skills you need to succeed in real estate.
1. Communication Skills
Every client is different in how they want to stay in touch. Make sure to ask their preference so you get it right. To have a better relationship with your client, be proactive in staying in touch. Don’t leave your clients hanging and make them question what to do next. Guide them through the process.
2. Teaching Skills
When it comes to real estate, you’re the expert. As you gain more experience certain aspects of the job might seem mundane, but not to the client. Be patient enough to anticipate what they might not be aware of and slowly educate them on the real estate process and properties you are showing. By expanding your teaching skills, you will earn clients who trust you and are grateful to you for mentoring them through the process of buying or selling.
3. Find your homegrown touch
Let your clients know you care by finding your “homegrown touch.” This involves people skills like remembering birthdays, special milestones, small gifts, or providing them with tips. The key is to stay consistent.
Successful long-term real estate agents have mastered new technology and how it can be applied to their career. Adapt to new technology in order to make your life (and your client’s) much easier. One of the new advancements in technology that is aiding real estate professionals right now is cloud services. You can save yourself money and often a huge hassle by sharing your documents over the cloud.
This sounds simple and obvious but it is something many struggle with. Being on time is important because real estate professionals are often dealing with many different parties. Whether it’s showing a house to prospective buyers or meeting with clients who will hire you to sell their home, time management is critical to your success in making sure all your customers walk away happy.
A successful real estate agent knows how to negotiate and isn’t afraid to do so. In real estate, you also might need to teach your clients how to. Review with your clients all the different aspects of an upcoming deal. Prepare them for what a best-case scenario would look like for them, and also make sure you discuss the worst case scenario that they are prepared to accept.
7. Stay updated on local knowledge
Real estate professional have a better chance of success when they have a knowledge of local neighborhoods. Familiarize yourself with schools, new zoning laws, bylaws, local businesses, bus routes, and other elements that would be necessary for people moving in or out. This way, you can position yourself as someone your clients can trust—not just an outsider looking to profit off them.
8. Stay updated on trends
Stay up to do with what’s happening in the industry including mortgage rates, laws that affect real estate agents, and everything in between. The best way to do this is to commit yourself to reading trade publications daily.
This is one of the most important skills and actions for real estate agents. Networking is more than getting something from those around you-it’s about contributing to those around and building a community of like-minded individuals who will give back to you in times of need. Network with your fellow real estate agents. Help those coming up in the industry around you and seek out people with more experience from whom you can learn.
10. Continue your education.
The best real estate agents are always learning. This also applies to staying updated on trends. Talk to senior agents and get advice, read, attend conferences, etc.