2 answers
Daniel
Student
Glendale, California
2
Questions
2 answers
Taylor Teeters
Financial Advisor
41
Answers
Austin, Texas
Updated
Taylor’s Answer
Hello Daniel! I believe the a quality and dependable real estate agent has the below qualities. However, these qualities extend also beyond this one occupation and can aid in being successful in multiple professions.
1. Good communication: This is important in all kinds of business careers, but it's especially important in real estate. You will be working with clients that need to be heard, and also working with other realtors to get deals closed. Juggling the various people you will interact with, it's critical to be a good communicator both in verbal and written but also with listening.
2. Build a network: The best real estate agents have people that they can rely on. Whether you are forming personal relationships to further your network or building a rolodex or partnerships to pass onto others, people relationships are very important to prioritize.
3. Be proactive and manage your time well: Successful real estate agents need to be proactive in many areas of their job. They need to understand the value of time in order to achieve the most they can in a day and also act quickly on behalf of their clients. Punctuality is also something I believe makes a good real estate agent - when you are interacting with multiple individuals, it goes a long way to show that you respect their time as well.
I hope this helps shed some light on your question!
1. Good communication: This is important in all kinds of business careers, but it's especially important in real estate. You will be working with clients that need to be heard, and also working with other realtors to get deals closed. Juggling the various people you will interact with, it's critical to be a good communicator both in verbal and written but also with listening.
2. Build a network: The best real estate agents have people that they can rely on. Whether you are forming personal relationships to further your network or building a rolodex or partnerships to pass onto others, people relationships are very important to prioritize.
3. Be proactive and manage your time well: Successful real estate agents need to be proactive in many areas of their job. They need to understand the value of time in order to achieve the most they can in a day and also act quickly on behalf of their clients. Punctuality is also something I believe makes a good real estate agent - when you are interacting with multiple individuals, it goes a long way to show that you respect their time as well.
I hope this helps shed some light on your question!
Will G
Real Estate: Business Development, Operations, Marketing
5
Answers
Santa Barbara, California
Updated
Will’s Answer
Hi Daniel,
First off, I agree with everything Taylor has said, so I will only add to her response so as not be repetitive.
1. Willingness to learn early on and throughout your career. While the information in your pre-licensing courses is very important, most of the nuance and real-world learning comes from other places: i) training your brokerage provides ii) actually working in live situations iii) aligning with a mentor who can show you the ropes and make introductions to industry vendors iv) continuing ed that you seek out on your own, and so on. Based on a recent survey of 9,000 Agents around the US, those agents who invest in their ongoing development earn an additional $70,000+ per year on average. The more you put in, the more you'll get out.
2. Develop a business plan, and update it at least once per year. Define your major goals, especially how much money you want/need to make, and the path to achieving them. Hold yourself accountable to your plan. Selecting the right brokerage for you and your plan (and your budget) is also critical. At our brokerage, we make every incoming Agent send us at least a 1-2 page business plan before we issue them onboarding paperwork, to ensure all parties are on the same page.
3. This job is about consistently prospecting and filling your pipeline with clients. The more time per week you spend on prospecting, the more successful you will be. It's a fairly black and white issue. You are either putting yourself out there to fill the pipeline, or you aren't. Even when you are successful, this holds true. I know very successful Agents who prospect for 3 hours per day. Never stop prospecting or your business has a high likelihood of stalling.
4. Embrace and develop processes, procedures and systems for everything. While you do not want to be a robot, it is crucial for you to follow your own systems and checklists so that you are not reinventing the wheel every transaction. You will become known for how intentional and organized you are, and this will lead to less anxiety/stress on how you run your business, and lead to more more referrals.
5. Act as a long-term Advisor, not a short-term 'transaction specialist'. If you are truly thinking about making a career in real estate, play the long game. If you are only focused short-term on making money, your career will be short-lived. Long-term, most of your business, and the best business, and the highest rate of conversions, will be from past clients and referrals.
6. Consider joining a Team at first. As a young professional, unless you have family/friends that are selling/purchasing real estate, it may be hard to find clients. Consider joining an experienced Team first as an Agent or Agent's assistant to learn the business.
Hope that's helpful and good luck!
First off, I agree with everything Taylor has said, so I will only add to her response so as not be repetitive.
1. Willingness to learn early on and throughout your career. While the information in your pre-licensing courses is very important, most of the nuance and real-world learning comes from other places: i) training your brokerage provides ii) actually working in live situations iii) aligning with a mentor who can show you the ropes and make introductions to industry vendors iv) continuing ed that you seek out on your own, and so on. Based on a recent survey of 9,000 Agents around the US, those agents who invest in their ongoing development earn an additional $70,000+ per year on average. The more you put in, the more you'll get out.
2. Develop a business plan, and update it at least once per year. Define your major goals, especially how much money you want/need to make, and the path to achieving them. Hold yourself accountable to your plan. Selecting the right brokerage for you and your plan (and your budget) is also critical. At our brokerage, we make every incoming Agent send us at least a 1-2 page business plan before we issue them onboarding paperwork, to ensure all parties are on the same page.
3. This job is about consistently prospecting and filling your pipeline with clients. The more time per week you spend on prospecting, the more successful you will be. It's a fairly black and white issue. You are either putting yourself out there to fill the pipeline, or you aren't. Even when you are successful, this holds true. I know very successful Agents who prospect for 3 hours per day. Never stop prospecting or your business has a high likelihood of stalling.
4. Embrace and develop processes, procedures and systems for everything. While you do not want to be a robot, it is crucial for you to follow your own systems and checklists so that you are not reinventing the wheel every transaction. You will become known for how intentional and organized you are, and this will lead to less anxiety/stress on how you run your business, and lead to more more referrals.
5. Act as a long-term Advisor, not a short-term 'transaction specialist'. If you are truly thinking about making a career in real estate, play the long game. If you are only focused short-term on making money, your career will be short-lived. Long-term, most of your business, and the best business, and the highest rate of conversions, will be from past clients and referrals.
6. Consider joining a Team at first. As a young professional, unless you have family/friends that are selling/purchasing real estate, it may be hard to find clients. Consider joining an experienced Team first as an Agent or Agent's assistant to learn the business.
Hope that's helpful and good luck!