Whether you're selling your home or searching for your next purchase, real estate agents can help. They scour the MLS for potential homes, set up viewings, and assist with closing escrow.
Prospects scour business and personal agent websites for reviews before choosing an agent. Reviews influence search rankings, so yours must be high-quality.
Professionalism
As a buyer, you should always ensure your real estate agent represents your interests in the transaction. Ask your agent to explain their role in the process. For instance, a dual agent may represent both the seller and the buyer, while a transactional agent works with both parties but does not have a fiduciary duty to either party. You should also determine how you will communicate with your agent. Will you be primarily contacting them by phone, email, or text?
A good real estate agency will have a solid reputation and a proven track record in helping clients buy or sell homes. You can find out about an agency's reputation by reading online reviews. 68% of consumers say that positive online reviews make them more likely to choose a local business.
Some agencies also offer their agents perks and opportunities for advancement, such as profit sharing and bonuses. Coldwell Banker, for example, provides training and coaching to help agents grow their business. They also provide marketing materials such as lawn signs, personalized website templates, and CRN systems that help locate buyers.
ELIKA New York, another top-rated brokerage, is a member of REBNY, which gives them access to the official property listings in New York City. Their agents ensure that future homeowners find their dream homes on fair terms. They are also skilled at negotiating sales prices.
Knowledge of the Local Market
Local market knowledge is the key to your success, whether you are a new real estate agent or an established one. It helps you tailor your marketing strategies and determine what properties fit your clients' needs well. It also enables you to offer more personalized service, which enhances client satisfaction and loyalty.
Local market knowledge also enables you to provide accurate pricing guidance for your clients. You can do this by analyzing comparable property sales in the area, factoring in current economic conditions, and considering the unique features of the property in question. For instance, you might know that a property with an exterior parking spot sells for less than a similar one without a parking space.
You can develop your local market knowledge by networking with other professionals in the industry, participating in local events, and reading news reports. You can also access local real estate data through the MLS and public records. However, it's best to cross-check these sources to get the most accurate information possible.
Negotiation Skills
As a real estate agent, you must negotiate deals with clients, other agents, home buyers, investors, and lenders. These transactions require expert negotiation skills that are tailored to the local market. This includes knowing the right time to be assertive and being able to walk away from a deal when necessary. It is also important to build rapport with your client and be prepared to answer questions about the property, such as when it was built or whether it has been inspected for termites.
Rapport-building is an essential part of real estate negotiation and involves building trust with your peers. This can help you find common ground during negotiations and get your clients' desired results. It also means being polite and respectful during negotiations, reassuring your peers that they chose the right person to represent them.
Successful real estate agents are skilled negotiators who can create a win-win situation for their clients. This can compromise some aspects of the deal, such as the sale price or closing date. It is important to have a variety of topics lined up before the meeting so you are ready to make concessions when needed. You should also be prepared to discuss non-monetary aspects of the property, such as the condition of the kitchen or yard.
Time Management
Real estate agents often juggle daily tasks, including nurturing leads and closing deals. These professionals must have strong time management skills to manage their workload effectively and meet their business goals without burning out.
Effective real estate agent time management starts with setting actionable goals. When you set too vague goals, such as "being the best agent I can be," it is difficult to plan and execute a strategy for reaching that goal. Instead, real estate coaches recommend creating specific, actionable goals for your days, weeks, and months.
Another great way to improve your productivity is to delegate or automate tasks that don't require a personal touch. For instance, you could hire an assistant or invest in a home photography camera to help you sell homes more quickly and efficiently.
It is also important to remember to take care of yourself. Schedule time in your day for things like eating and exercising. This will ensure that you stay healthy and happy throughout the workweek so you can focus on your career goals without feeling overwhelmed.
