In the last few years the real estate industry has had its share of successes and challenges. The ups and downs of the market, have left many REALTORS® scratching their head. So how can a new REALTOR® last for the long haul? What does it take to make a successful agent? How can a current agent, which hit a rut, bounce back? Roy Dekel asked some of his top Real Estate customers to share their tips and tricks, and here are the top 7.
- Practice, Practice, Practice
Even top agents say that scripts are important. Working out what to say in advance helps you to speak calmly, clearly, precisely and with knowledge to your client. Scripts help you organize your thoughts, and ensure that important information is not left out. Scripts can also help to find out what works, and what your clients like and respond to in order to achieve desired results.
Trick of the trade: Prepare scripts that focus on overcoming objections. Don’t be fooled, anything other than a contract is an objection. Determine a few of the objections you hear regularly, and prepare educated, knowledgeable and helpful responses to their concerns. These responses may overcome the objection, and help to put a homeowner or buyer’s mind at ease by targeting and addressing their concerns.
- Invest in Marketing
Entrepreneurs know that to build business and attract a high amount of activity, they must invest in marketing their business. Real estate agents should follow their lead, after all REALTORS® are entrepreneurs. It is important that you budget between 8-15% of your annual income for marketing. The problem is that only a small percentage of REALTORS® focus on generating leads, and opportunities every day. Block time daily to follow up with new and existing clients. You will notice, that top agents won’t wait for a home to close before they go after new business, and you shouldn’t either.
Trick of the trade: Spend your money and attention obtaining seller leads, and track your progress. It is important to know what actives generate the best return on your investment.
- Try Try Again
Don’t forget the reason you are in front of a potential client, you want to represent them! If you feel that working with you is in your customer’s best interest, and that you will do the best job, than it is a disservice to your customer to let them go. Don’t be afraid to ask for the business, and if you don’t succeed, try, try, again. Remember than no, isn’t never, it is just “not right now”, or “I haven’t learned enough to make a decision yet.”
Trick of the trade: Never leave a home without hearing no at least 3 times, when asking for the business.
- Work at your clients pace
The real estate industry is competitive, so it is important that agents are available and receptive from the beginning to the end of a transaction. Your clients need to feel that their needs can be met, and the best way to do that is to be available, and communicate on a regular basis. It is also important to keep the pace of the relationship by matching your client. If they call, call them back, if they text, text them back, and if they email, email them back. Mirroring your client makes them feel more comfortable.
Trick of the trade: Follow up with your customers, if you are not at the forefront of their mind when they have a need, they will not go to you when one finally emerges.
- Don’t miss out on a good thing
Never get stuck without internet connection, your smart phone, tablet, or laptop are the contents of your entire mobile office. It’s important to have access wherever you are. You should also use, and stay on top of the latest tech to help keep you on track, organized, and increase your business. By keeping up to date on communication channels, like digital advertising, YouTube, blogs, social media, CRM’s and Apps, you are sure to attract new business and will have the ability to stay in front of the client in a personable way. However, don’t abandon tried-and-true sources of activity that have worked for you. What’s new should always be in addition to what works!
Trick of the trade: All great agents run out of energy, so be sure to invest in your future, check out companies like Setschedule at www.setschedule.com to help give you an edge.
- It’s a team thing
Agents often have a team of reliable responsible vendors that they know, trust, and refer to their clients. They can be contractors, appraisers, lenders, and insurance providers, or even home cleaners, babysitters and tutors. Offering full, white glove service in the real estate space is paramount to being viewed as a valuable professional, and having a first-class team can prepare you to better service the client through any mishaps in the buying or selling process that may occur.
Trick of the trade: It is just an important to fill your rolodex with industry contacts, homebuyers, sellers, brokers, and vendors, as it is to be a top sales person, and negotiator. Don’t wait for your first listing or problem to make those contacts.
- Great Agents are not born, they are made
There is a stark difference between the agent that views themselves as a business owner, and the other that simply chose real estate as a career. While they may essentially perform the same job, the mindset is very different, and it is also often times the difference between success and just getting by. Being an entrepreneur means that you are responsible for your success or failure, and that you make plans to ensure, sustain, and grow your business. As an agent you must be proactive, and prepare for your future. One sure fire way to get on the right track is to work with a Mentor that can show you the ropes, and prepare you to build your business.
Trick of the trade: You may have noticed that successful agents have a comradery and relationship with other successful agents. If you are new in the industry, find a mentor to help you learn the basics, if you an established agent, nurture your contacts, be helpful where you can be of service, and your colleagues will do the same. Having the right people and advisors around you, will make all the difference through challenging situations.