There are thousands of real estate agents engaged in buying and selling homes and commercial properties for their clients. However, some estate agents stand apart from the others by being great at their jobs, closing every deal with perfection, and really benefiting their clients.
According to Siddharth Mahajan, London-based real estate entrepreneur who found success fairly quick in the industry says, “The best real estate agents are rarely shy or afraid to voice their opinions. They like to promote a property by focusing on its best aspects. They are not aggressive, but are passionate about what they do and work hard to put their clients’ interests ahead of their own.”
You can never become a successful estate agent if you do not know your local area. It also helps to acquire a good working knowledge of other relevant communities and neighborhoods before you deal with clients.
Local knowledge gives you an edge in terms of understanding the rules and regulations in different areas and communities, as well as knowing the likely value of a property. You should also research other locations that present good real estate opportunities for your clients.
It is important to develop a clear understanding of neighborhoods and home values in all relevant areas over time. If you are new to a town, take some time to become familiar with the place before you become a real estate agent as it takes time to develop good local knowledge, but it will help you build a successful career.
Ability to Negotiate
A big part of your job will require negotiation skills. After a few years in real estate, you’ll probably be able to teach a class on negotiation skills at the local community college. That’s how good you’ll need to be.
- Negotiation is important in real estate because you’ll need to haggle over at least three things:
- The listing price
- The selling price
- Your commission
Once you become a real estate agent, teach yourself the art of negotiation. Start with setting your commission, because that’s the hardest one. If you can secure a good commission for yourself, you have the innate ability to negotiate on all other real estate matters.
Being Tech Savvy
This is something relstively new for real estate: you need to know your way around a computer and the Internet. Being able to navigate websites isn’t just nice to know – it’s a must. Even if you don’t know much about the Internet or how to use a computer, you must be willing to learn. Otherwise, you’ll be eclipsed by tech savvy competition.
Find your homegrown touch.
Siddharth Mahajan London says, “Everyone has his or her way of letting clients know they care. Think of it as your “homegrown touch.” We’re talking about the kind of people skills that include remembering birthdays or special milestones in their lives, giving them tips in a new neighborhood, or sending pizza to their house on move-in day. Whatever you do to let clients know you care, do it consistently. As the saying goes – People don’t care how much you know until they know how much you care.”
Networking is Key
You hear this word all the time, but often it’s misunderstood as a method of getting something from the people around you. Networking is a way of 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.
Siddharth Mahajan, London, attributes his success to his ability to solve problems and his eye for details. He believes that while a warm heart will help you with networking, you’ll also need a sharp eye. As a real estate agent, you’ll spend a huge amount of time in the details. Whether you’re comparing housing prices, reviewing the fine print in contracts, or considering your client’s wish list, you’ve got to be mindful of all “the little stuff” too.
Every client comes to you with a problem: they need help buying a house, or selling a house. Your job is to solve that problem.
While the problem may be the same, there are different variations that you’ll need to tackle, such as the client’s budget or their “must sell by” timeline. You’ll need to feel comfortable with constantly solving problems – sometimes in ways that aren’t the most obvious or conventional.