According to a recent survey by the National Association of Realtors (NAR), 28% of home buyers find property through a real estate agent. This means that a career as a real estate agent can be very rewarding. However, not everyone ends up being a successful real estate agent. So if you are thinking of making money as a real estate agent, you’re going to want to set yourself up for success right from the start. That’s why we have put together 16 expert tips for becoming a successful real estate agent to help you out:
1. Earn an undergraduate degree
Though a college education is not a must for a real estate career, research has shown that having a college degree significantly enhances your chances to be a successful real estate agent. If you can find a program focused on real estate, you can learn skills such as real estate lead generation, qualifying real estate leads, and real estate marketing which you can further hone once you’re in the field. Otherwise, consider general business and marketing degrees where you’ll still learn useful information that you can use in your daily life as a real estate agent.
If the idea of going to school and earning an undergraduate degree doesn’t appeal to you, there are other options. Consider taking courses from an online real estate school. There are plenty of ones that are recognized in the US, but Real Estate Express is one of the top ones. Check out this Real Estate Express review to learn more.
The point is, if you want to be a successful real estate agent, you will want to take your education seriously, whatever avenue you choose, whether it’s an undergrad degree or online courses.
2. Get a license
This might be obvious, but you can’t dream of succeeding in this business without proper licensing first! Successful new real estate agents need to be licensed first before venturing into the business. Licensing requirements vary from one state to another. Check your state’s real estate commission site to learn what it takes to become a registered real estate agent. Before obtaining your license, you will have to take some courses and pass an exam.
Related: How to Get Started as a New Real Estate Agent
3. Select the right brokerage
Once you have acquired your license, you need to find a brokerage where you can work. Look for a brokerage that has programs for agent development such as a mentor, continuing education courses, a marketing budget to start you off, and referrals to new client leads. Being in the right brokerage is an important factor in how to be a successful real estate agent.
4. Communicate quickly and reliably
When it comes to real estate success, it is the little things that matter. How you communicate with real estate clients and associates is very important in your career as a real estate agent.
Successful real estate agents have developed a habit of responding to client emails and texts immediately – the latest before the end of the day. If you miss a call, return the call before the close of business. Being a good communicator will help you build a good reputation with potential buyers.
5. Value every real estate client
To be the best real estate agent, learn how to treat all your clients the same way. Whether it is a $1,000 sale or $1,000,000 sale, let all your real estate leads and customers know that they are important. This could pay off greatly in the long run as you learn how to be a successful real estate agent.
Related: How to “Woo” Your Real Estate Clients
6. Have a mentor
When it comes to how to become a successful real estate agent, the importance of having a mentor cannot be overstated. A successful broker or agent will teach you lessons from their experience and help you avoid costly mistakes along the way. You will understand what terms such as deeds, liens, encumbrances, title insurance, and surveys mean. Making tough decisions will be easier since you have someone to advise and guide you.
7. Always be learning
Having real estate education qualifications and a license is not enough. Zoning rules, infrastructure development, and tax laws are always changing. You must, therefore, be a continual learner in order to be a successful real estate agent. Attend online and offline seminars and training in order to boost your knowledge. In addition, you should always read relevant journals and magazines so as to keep up with the new trends in real estate marketing.
Start the learning process by checking out Mashvisor’s agent blogs!
Related: 12 Best Books for Real Estate Agents
8. Build a strong network
A good real estate agent must have a strong network that offers a steady stream of leads, referrals, and business. Join organizations or societies where you can interact with other real estate agents, property managers, contractors, and home inspectors. Be sure to maintain these relationships by keeping in touch with your contacts.
Related: How to Get Real Estate Leads as a New Agent
9. Understand the needs of your clients
Real estate clients come from different backgrounds and have diverse needs. For example, baby boomers have different needs compared to millennials. Therefore, understanding clients’ needs will play a major role for anyone that wants to know how to be a successful real estate agent.
10. Monitor your online reputation
This is one of the most crucial tips for real estate agents. Since potential customers are likely to investigate you before getting in touch, your reputation as a real estate agent is very important. This is why you should regularly Google yourself to see what people out there are saying. If you find some negative social media posts or bad reviews, take the necessary steps to neutralize the situation.
11. Prepare to work long hours
Unlike the typical 9-5 job, real estate agents have very irregular schedules. To be a successful real estate agent, you should be willing to make time for your customers at all times. Don’t complain if a client wants to meet you on Friday at 7 pm or Sunday at 6 am.
12. Use a scalable CRM
Nurturing buyer and seller leads and contacts is very important for the success of any real estate business. A customer relationship management (CRM) system is one of the most important tools for real estate agents. Find a CRM which you can scale as your list of clients grows.
Want a tool that is so much MORE than a CRM? One that can qualify leads and even match them with properties they’ll love? Then click here.
13. Develop verbal and people skills
A real estate agent career involves making a lot of presentations to different parties. Polishing up on your verbal skills will help you communicate clearly in a language that people understand. You should also develop people skills which will help you network effectively and maintain strong contacts.
14. Learn the art of negotiation
Real estate agent negotiation skills are a must for anyone that wants to succeed in this career. Successful real estate agents have mastered the art of persuasion to influence customers to accept or make reasonable offers. To be an effective negotiator, you need to understand parties’ wants and needs and stay open to multiple options. In addition, you should expect counteroffers and be prepared to respond appropriately.
15. Be tenacious
Being a real estate agent is not for the faint-hearted. Dealing with landlords, tenants, property managers, and investors can be very tough, and thus requires a lot of patience. Agents must work very hard to identify opportunities in the real estate market and follow through on them. Even in the face of competition and unfavorable economic conditions, successful real estate agents remain tenacious.
16. Use Mashboard
Mashboard is a tool that helps real estate agents qualify buyer leads, match them with suitable properties and close deals fast all through the power of predictive analytics. You can find both listed and off-market properties for your clients. In addition, you can invite clients to use Mashvisor’s tools by offering them a free license through your account. In this way, you’ll receive valuable insights into what the client is really after in a property!
To start your 14-day free trial with Mashvisor and subscribe to our services with a 20% discount after, click here.
Being a successful real estate agent takes hard work but all the time and effort is sure to pay off! Until then, follow our 16 pro tips for success.