Best Practices To Become A Successful Real Estate Agent
Are you a real estate agent? You would be familiar with two things – first, real estate is a price-sensitive sector, no matter what the location is and second, the perception of the seller and anyone who is dealing with a homebuyer is important. Being trustworthy is the first and foremost trait that will help the deal come through. In 2015, Roy Morgan, an Australian market research company, surveyed people asking them about how they viewed certain professions. Of the findings, real estate agents were seen to have the lowest score besides advertisers and car salesmen with only nine per cent of participants said that their agents were ethical. The Consumer Perception Of Real Estate Survey further showed that the 31 per cent of homebuyers surveyed reported an excellent experience with their agents while 35 per cent rated them as good. The remaining 34 per cent said that the services offered underwhelmed and even angered them. This survey was conducted in 2015 in Australia, but this perception of the real estate agents and brokers remains unchanged across the world, especially in India.
So what are the skill sets that can make real estate brokers more successful and also, help them sustain the business?
Every homebuyer looks for clear information on what to expect from the property they are investing in. But many times, the real estate agents, who are looking at quick profits end up concealing some information from the prospective buyer. But, market experts suggest that the more information an agent shares with their clients, the more satisfied they are likely to be. A satisfied client means more recommendations.
The use of technology
Technology in today's time appeals to the clients given how it organises their personal lives as well. An agent technologically well-equipped can come across as a more organised professional for the clients. Such an agent will have market information readily available using their hand-held devices, including a smartphone or an iPad.
Know who influences them
Homebuyers, at large, are influenced by their family and friends and their recommendations, followed by newspaper advertisements, social media, real estate listing portals among others. Make sure you maintain a good rapport with your past and existing clients and are also present at various offline and online marketing platforms.
Just like retail stores that offer their customers with refreshments while they shop, for an agent, too, it is equally important to make their client feel comfortable. This helps in building a positive relationship with the client.
Does your age matter?
More than the age, the experience and expertise an agent carries has a greater credibility. According to the survey, regardless of the gender of the agent, the majority of agents selected by homebuyers were highly experienced with 40 per cent having more than 10 years in the field and 33 per cent with five to 10 years. Only a 13 per cent of the respondents were unaware of the work experience of their agent. However, this is no way means that brokers with less experience stand no chance. Expertise when it comes to market knowledge is also important. So if you are young, enthusiastic and goal-driven, chances of you making it high is good, too. One of the survey respondents said, “'The age of our agent surprised us. He was just 20 years old. But he did a great job.'
The female force
Female agents are considered to be a preferred choice for homebuyers as they are known to fulfil the clients' expectations. According to the survey, more female agents were rated as excellent for their sales skills when compared to their male counterparts. We asked some of the Indian women brokers as to what are the skill sets that make them a better a real estate professional. Srishti Amar, sales manager at Golden Pillars Infracon Pvt Ltd, Lucknow said, “Women are more organised, time-bound and most of us study in-depth. Our capacity and willingness to explain doubts to potential homebuyers are what goes well with the clients. Property purchase is a serious business, therefore clients will respect you if you have made things clear to them.” Another broker, Sanjana Sharma, director at National Capital Region-based Kings Real Estate, said, “If you are competent, the client values it. Moreover, women are perceived, to be honest and reliable and that is a plus. Women are also more adept at tackling issues in an organised manner and most clients feel that if a woman is in the chair, it has to be a clean deal.”