5 Important Qualities of A Successful Real Estate Agent
Many people assume that being a real estate agent is a walk in the park and some feel that the commissions that we earn are unjustifiable for the work we put in - To some, it seems easy to help clients to purchase or sell a property.
Well, if only it is so easy! The drop out rate in property is notoriously high for a reason and that’s because few have the determination and gumption required to do well in real estate sales.
Having the ability and communication skills to advise and influence clients well requires serious skills and patience.
It is naïve to believe that simply opening and closing doors or passing messages between sellers and buyers would result in any long term and consistent success.
If you have ever considered becoming a real estate agent or wondered whether this career path could be right for you, then these are a few traits that you will need to possess, at least to a certain degree.
All professional and successful real estate agents share some of the following core qualities in one way or another.
1. Having Client’s Best Interests at Heart & Provide Great Service
A real estate agent who is only out to make money and too eager to close a deal as soon as possible, regardless of the needs of the client, is not likely to last long in the industry.
The key to being a good agent is putting the needs of the client first. And commonly, this means putting your commission second.
This is easier said than done especially when an agent has gone through a dry spell of zero deals for awhile and has bills mounting.
However, real estate agents who put their clients’ needs first and provide in-depth information without any pushiness tend to earn clients’ trust and referrals in time to come.
Why do I say in time to come?
As there are many different personalities and some people are cynical by nature and require longer to warm up to sales people.
Earning the clients’ trust and confidence is the most important and hardest aspect of the job.
A successful career is built around clients who entrust you with their properties and become your ambassadors to their circle of friends.
Promptness in replies and answering calls during working hours are also signs of great service.
Hence, a timely response to their calls or texts is a must.
By timely, I mean the same working day and usually within a couple of hours at most.
Those who are willing to go the extra mile for their clients are more likely to be successful in the long run.
2. Ambitious and Motivated
Being ambitious and intrinsically motivated makes all the difference between failure and success.
I have seen agents who are contented with just making a bare minimum every month or lack the motivation to keep up with prospecting activities despite attending alot of training.
The essence of success is in taking action. In meeting people and offering your services.
It is where the tyres hit the road and being intrinsically motivated is an important aspect of how well you will do over time.
Being ambitious can also help you aim high and keep challenging yourself towards new heights in your capabilities and results.
Agents who possess the qualities above are generally very determined when it comes to generating leads or following up with potential clients without the need to be prodded by someone else.
Even if such agents face rejections, they do not concede defeat and take it as just being a step closer to a successful deal.
"Rejections are just Redirections"
These are the agents who will deliver results consistently to their clients and are likely to retain a long-term relationship with them.
3. Proactive and Persistent
Nobody will succeed by waiting, you have to take the initiative.
A good real estate agent should be passionate about his work, eager and most importantly constantly on the ball.
The more enthusiasm and initiative you have when helping clients, the more you will earn their trust and confidence in you.
People can feel your aura and energy even if they do not mention it.
The real estate market is time-sensitive and it helps to constantly keep your clients in the loop about market trends and opportunities.
Giving clients a call regularly to update them can make all the difference between a proactive agent and a passive one.
Sometimes, clients may not reply to you and it is important not to be dejected or assign unnecessary meaning to their lack of response.
People can simply be busy or not in the mood.
Top agents always follow up and persistently send information to clients.
And even when they face several rejections in a day, they remain proactive in following up with other prospective clients and generating new leads.
They know that time wasted feeling lousy is unproductive and would rather move on to other opportunities.
4. Having an Entrepreneurial Mindset to Branding
Being a real estate agent means owning your business and you will need to see yourself as a brand and promote yourself to potential clients consistently.
An agent always should always be thinking about how they can attract new clients and develop an effective marketing strategy that can help the business speak for itself.
Some ideas like testimonial and property tour videos, blog writing and websites are great ways to communicate to clients about your expertise and showcase your personality and knowledge.
There may be costs in such endeavors but by investing in such marketing assets, you would be able to create more than 24 hours a day in the long run as these assets will be branding and selling you to viewers and readers without a need for you to be present physically.
Leads generation is the number one most important activity in real estate and easily consumes 50-75% of an agent's time.
Investing in your personal brand as early as you can will help you generate more leads passively over time and free up precious time for your family or leisure.
5. Willingness to Learn
Finally, a good agent is always willing to learn regardless of how successful they are.
Trends and technology change rapidly in this era and to be successful, agents must be equipped with relevant updated product and technical knowledge and marketing skills.
Apart from knowing how to sell a property, an agent must also be up to date with the latest market trends, regulations and government measures.
Clients these days have data at their fingertips and are able to size up the competency of an agent simply by throwing a few questions at them.
Hence, it is important for agents to be humble and willing to learn, especially from the younger generation.
There is always something to learn from everyone and age or years of experience in this line are not the defining factor of wisdom.
The buying and selling of properties should feel like an exciting and fulfilling journey, and will not feel like a chore as long as you adopt the right mentality of serving clients well in buying and selling and providing great advice.
If you think that you possess these traits and are looking for a career in the real estate industry, drop me a note and let's have a chat on how my team leaders and I can help you kickstart your career.
Stuart Chng, Executive Group District Director at Huttons, is a renowned leader and personality in the real estate industry.
He adores music and can play a few instruments decently without upsetting his neighbours. When not doing so, he enjoys pillow fighting with his son and coming up with silly puns which barely amuses his wife.
Professionally, he is a licensed real estate agent, an avid stocks, options and real estate investor, multiple businesses owner, team leader, speaker and columnist for several property newsletters and blogs and is often quoted in media interviews on 938FM, Channel 8, PropertyReport, PropertyGuru and other publications.
P.P.S. Passed your RES Exams? Find out what steps to take next to quickly reach your goals!
P.P.P.S. Find out which real estate agency to join after passing your exams!