Wow, that post title sounds like a promo for a new reality TV show! And while you may not be vying against 11 other hopefuls for a rose or for a marriage to someone you've never seen, the real estate industry can be a tough competition. It takes a certain type of individual to be successful in real estate. If youâre still trying to decide whether real estate is the career for you, keep reading. Below, weâll list the most important qualities youâll need to make it as Americaâs next top real estate agent.
1. Steely Determination
If I asked one of your friends to give me three words to describe you, would one of those words be âdeterminedâ? If so, real estate might be for you.
As a real estate agent, you must be determined to succeed. Defeat can never be an option. Every deal is important. Every client must get what they want. But that doesnât happen by accident. As the clientâs representative, youâve got to adopt a dogged, relentless, stubborn resolve to make sure that the client wins.
If thatâs not in your nature, a successful career in real estate may not be in your future. However, if youâre driven to win, no matter how many obstacles are thrown in your way (and some of those obstacles will come from your clients), youâll do well in real estate.
2. The Ability to Negotiate
A big part of your job will require negotiation skills. After a few years in real estate, youâll probably be able to teach a class on negotiation skills at the local community college or university. Thatâs just how good youâll need to be.
Negotiation is important in real estate because youâll need to haggle over at least three things:
- The listing price
- The selling price
- Your commision
Once you become a real estate agent, teach yourself the art of negotiation. Start with setting your commission, because thatâs 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.
3. Tech Savviness
The world is online now, and so is real estate: To be a successful agent, you need to know your way around a computer and the Internet. Being able to navigate websites isnât just nice to know - itâs a must. Even if you donât know much about the Internet or how to use a computer, you must be willing to learn. Otherwise, youâll be eclipsed by by tech savvy competition.
4. A Winning Personality
Real Estate is a people-oriented career. You need a personality that can woo prospective clients and gain their confidence. While it will take time to become an experienced real estate agent, a friendly personality can score a lot of points right away. People will want to work with you simply because you have an amiable demeanor. Not every agent is pleasant to be around - this can be your superpower.
5. Integrity
To maintain trust with your clients and score the all-important referral, youâll need to hold yourself to a high ethical standard. You may be working with someoneâs life savings. For this reason alone, itâs important that youâre principled and committed to doing whatâs right.
And if youâd like to become a REALTOR, youâll be held to an even higher ethical standard.
(Not sure if you should become a REALTOR or not? Check out this post.)
6. The Ability to Network
Real estate is all about who you know and who knows you. Without connections, youâll never be a successful real estate professional.
The ability to network isnât optional - itâs a required skill. But you donât have to be an extrovert in order to succeed at networking. Sometimes introverts make the best networkers because theyâre often better listeners and are more focused on quality conversations.
If you need to brush up on your networking skills, here are few tips to keep in mind:
Arrive early to networking events. Being fashionably late may grant you some passing attention, but the most viable connections are forged by the early birds. Plus you never know who you might miss!
Be pleasant. People like to be around others who are smiling and friendly.
Be passionate. Let your passion for real estate show through.
Follow up. After making a connection, be quick to follow up on the connection. Within the next couple of days, call them back and ask them out to lunch or offer to meet them in their office.
Youâll live and die by your ability to network and maintain relationships with your former clients and fellow real estate professionals.
7. Attention to Details
While a warm heart will help you with networking, youâll also need a sharp eye. As a real estate agent, youâll spend a huge amount of time in the details. Whether youâre comparing housing prices, reviewing the fine print in contracts, or considering your clientâs wish list, youâve got to be comfortable with âthe little stuff.â The little stuff is what makes the big picture possible.
8. The Ability to Solve Problems
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 all kinds of different variations that youâll need to tackle, such as the clientâs budget or their âmust sell byâ timeline. Youâll need to feel comfortable with constantly solving problems - sometimes in ways that arenât the most obvious or conventional.
9. Self Motivation
As a real estate agent, youâre your own boss. Even if you work under a broker, youâre not actually an employee - youâre likely to be an independent contractor and paid commission. This basically means that you operate your own small business. For this reason, you need to be self-motivated: no one is going to breathe down your neck and make you work. It's entirely up to you when you work, how you work, and how much you make.
10. Dedication to Professional Appearance
Coco Chanel once said, âDress shabbily, they notice the dress. Dress impeccably, they notice the person.â As a real estate agent, not only are you selling real estate, but youâre also selling yourself - and I mean that in the nicest way possible. You must care about how you look because others will. Theyâll buy your image before they buy your pitch, so dress accordingly.
11. Strong Communication Skills
Hopefully, you like the sound of your own voice because youâre going to hear it a lot.
As a real estate agent, youâll spend a lot of your time speaking with people. Whether youâre fielding questions from clients, engaging with fellow agents, or building a network with other professionals, youâll do a lot of talking. This is good news for those of us who like to talk, but even if youâre not a talker by nature, it doesnât mean that you canât hone your communication skills.
Because these skills can be taught, here are a few tips to build or improve your communication:
Be a good listener Half of communication is actually listening to the other person. Give the other person a chance to talk and take your cues from them.
Ask questions Youâre in a conversation, not a monologue. Ask the other person questions for clarity and as a way to draw them out of their shell.
Make eye contact While you donât want to keep a steady gaze while youâre speaking to someone (thatâs kind of creepy!), you do want to look at that individual occasionally as you speak to them. Otherwise, it feels like youâre trying to hide something from them. Also, maintain eye contact when the other individual is speaking to you, or it will appear that youâre disinterested.
12. Boundless Enthusiasm
Real estate work often requires long hours - early mornings, late evenings, and hustle all the way through. As a real estate agent you might draw much of your daily energy from liquid caffeine, but trust me: There will be a time where the caffeine runs out and youâll need something else to carry you through your day. That something else is called âsheer enthusiasm.â
In order to be successful at real estate, youâve got to be enthusiastic about it. That enthusiasm will empower you to work longer hours and deal with difficult personalities.
What If You're Missing a Few of These Qualities?
First off, don't panic. While all 12 might be ideal, that may not be realistic, especially if you're new to the business.
Though it may seem like you either have these qualities or you don't, most can be developed or learned. Take the time to check in with yourself: Which qualities are your strengths? Which do you need to work on? Then, find ways to develop your skills in these areas, as they are important to your real estate career success.
Related Resources
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