A friend, who is new to the real estate business has land for sale in Armstrong Creek in Australia as part of his listing. He’s barely a couple of months into the job, and he thought he could ask for your advice on what to do to become a successful real estate agent. You’ve been doing it for several years and have made decent profits over the years.
It is without challenges, however, as you need to be always looking for leads. What will it take to become a successful real estate agent? Here’s what you can tell your friend:
Real Estate Agents and Realtors
Though the terms are used interchangeably, they mean two different things. A look at the numbers indicates that there are approximately two million real estate agents (2018) in America today. The National Association of Realtors (NAR), however, estimates that around 70% of the licensed agents are classified as realtors. What’s the difference? Becoming a realtor is like being a member of an exclusive club that has strict rules and standards, like the NAR Code of Ethics Standards of Practice, that members need to follow. They also pay fees and gain access to databases of listings.
Road to Success
Being part of a “club” is maybe a required step, but it’s not the only step, which will dictate your success in the business. Consider the following:
- Get help from a pro. Your friend is right to contact you and ask for advice. One of the initial steps newbie real estate agents should take to be mentored by a long-time pro in the business. This is someone who can teach not only about sales but also anything related to land or property use like encumbrances, liens, and land surveys. There is a much broader field to master.
- Build your database. Make sure that you’re able to compile in an organized manner, leads that are entering your radar, be it on your website, or through a referral system. Sites can capture leads and create marketing campaigns targeting these same leads. An organized database allows you to work on both existing customers and new prospects. Experts believe that the chances of closing a deal with an existing customer are far higher.
- Create a strong online presence. Keywords and optimized pages open the floodgates to new leads. Find out what keywords are being used by online users in your area to look for agents and properties on the market. Use these keywords on your web content such as news, adverts, or blogs.
- Strategize to chase leads. You should always be on your toes to find out ways to distribute your business cards. Learn about relevant events in your community, like charity events, exhibits, or product launches, and see if you can be invited either as a participant or a guest. But find the right opportunity to make your pitch about your business. Your plan should include a follow-through, like calling people who express interest in your services and inviting them for coffee. Always listen to them and understand their needs.
There must be continuous learning. Establish a brand and create partnerships with other service providers, like contractors and movers. But focusing on these core areas will help anyone become successful as a real estate agent.