Getting into the property market on your own is a difficult task. With so many considerations to keep in mind and so many issues that can and will go wrong, it’s hard to determine what exactly it is about your real estate business that is going wrong. Perhaps your agents aren’t very successful because they don’t possess the communicative qualities of a good salesman. Maybe your business itself is situated in a bad location surrounded by more powerful rivals with more influence. Or perhaps you’ve just not got what it takes to make your real estate business successful.
This is where experience and study can come in handy. Let’s face it, no one is going to start a business and become ultra-successful within the first few weeks or months. In fact, many famous entrepreneurs failed many times before they hooked onto a successful business idea. The reason being because they never gave up and they constantly innovated and reinvented old ideas.
So instead of trying to figure out all of your problems by yourself, do your research. Here is a list of some of the hallmarks that every successful real estate business has. From client communication to advertising, you’ll learn about all the things that real estate agents do in order to gain widespread popularity and a loyal list of clients.
One of the things that separate a regular estate agent with a popular one is a collection of knowledgeable agents. When hiring people to work for you, they need to have a lot of knowledge about homes, about client needs, and most importantly, about the business they operate. For instance, one of the first things you should test in a new agent is their ability to put themselves into the shoes of the buyer. Many estate agents fail to realise that a successful sale depends on selling a dream to the buyer, not the home. You need to be able to see the world through the eyes of your buyer so you know each word to say and every button to press in order to convince them to buy.
Let’s use an example. Imagine if your buyer is a family with a small child and a baby cradled in the parent’s arms. Your initial thought should be that this family intends on moving to a larger home and giving their children a good education. With this information in your mind, you can then start to explore the options you have in regards to words you can use and things you can say to convince them to buy. Start talking about the education in the local area, talk about nearby amenities, and mention things like the large garden in the back which will make a great play area for children.
One of the first things you see when you first meet your estate agent is going to be their presentation. Successful real estate agents ooze that success out of their personality. They radiate an air of professionalism and it stems from their well-dressed appearance and self-grooming skills. If you’re able to look the part, then you’re going to make far more sales off your appearance and personality alone. You need to be knowledgeable and you need to be able to present that knowledge in a calm and collected way that gives your buyer a reason to trust you.
Confidence is key in almost every business, but it’s even more important when it comes to the real estate industry because you’re essentially going to be a salesman. A salesman is no good if they have bad communication skills, but it’s even worse if they aren’t dressed the part and look like a trustworthy individual. If you really want to become a successful real estate agent, then you need to have a tailor made suit, you need to practice your communication skills and you need to show that confidence in the way you speak and move.
Honesty and transparency
Whether it’s hidden fees or issues with the home that you’re not mentioning, you need to be transparent with your clients. Successful real estate agents know that transparency is the key to gaining the buyer’s trust. If all you mention are positive things, then it’s easy to see through the charade of lies. However, if you mention flaws within the home or the local area, then your client is more likely to trust your opinion and believe the words you say.
An estate agent also needs to be rather blunt about what they are talking about. You shouldn’t sidestep complaints or issues that customers may have, and you shouldn’t exaggerate things about home if they aren’t true. Real estate agents also come to terms with failed sales and they know when to move on to the next buyer or show their clients the next house. They know not to beat a dead horse because one a client has made up their mind, they’re not likely to change it with a real estate agent breathing down their neck.
Making use of technology
One of the biggest problems with real estate agents is their lack of ability to cope with technological upgrades. For instance, with the advent of the internet, many people are turning to real estate websites in order to buy their houses. Not only does the internet offer a simple way for buyers to browse hundreds or even thousands of properties by their location, it also offers them a simple way to inspect floor plans and learn about all of the nearby amenities. However, this doesn’t mean that every potential buyer uses the internet for the same purpose, and there are many people that still prefer to use traditional methods such as flyers, open houses and advertisements in local newspapers or publications.
You can get some fantastic ideas for estate agents marketing if you put your creative mind to it. For instance, publishing a weekly or monthly newsletter or magazine about the latest and greatest properties that you are selling is a great way to inform people in your area that new homes are available. Alternatively, embracing technology and sending weekly emails with lots of pictures that showcase each home is another good way to bolster the attention people give your business. With the advent of social media and other forms of online sharing, even if someone you advertise to isn’t in the market for a home, they can always share your listings with people on the internet.
Motivated to succeed
Motivation is easy to detect when you speak to an enthusiastic estate agent. This is because estate agents that know how to make a sale are always happy to do what they do. They love to make sales because they’re naturals at communication. They understand to put themselves and their buyers in a good mood, they know how to tone down their enthusiasm when they detect that the buyer isn’t impressed, and they know how to explain things in a way that make the house seem like the perfect dream location for the buyer to live in.
Enthusiasm often encourages other people. When you’re able to sell a dream, not just a house, with your words alone, then you can safely call yourself a successful real estate agent. One of the golden rules of working in the property market is the ability to put yourself into another person’s shoes so that you know or have a good idea of, what they are looking for in a house. If you’re motivated, then you’re going to be happy, enthusiastic, and you’ll always look forward to doing what you are best at.
An interest in architecture
If you’re going to sell houses, then you’re going to need to brush up your knowledge about houses. This is because you’re always going to get buyers that want to know more about the house or will ask questions about the structural integrity of it. They’ll also likely ask about possibilities of expansion in the future, and if you don’t have the knowledge to answer them then not only are you reducing your chances of making a sale, you’re also going to look like someone that doesn’t possess the knowledge to be selling homes.
Make sure you take an interest in architecture if you want to be a successful salesman. Don’t assume that you know far more than your buyer because you will come across clients that do know more about housing that you and, as a result, they’re going to make you feel stupid because you aren’t able to respond to their questions. Not only will it give you credibility, it will also give you an upper hand when it comes to your competition because your advertisements and listings will contain more technical information that will attract buyers who know a lot about homes.
Becoming a successful real estate business will take a lot of hard work, but it’s one of those few jobs where the work you put in directly translates into better results. Be enthusiastic about what you do, show your audience that you care about their interests, and don’t forget to be transparent with your buyers!