Helping clients purchase the home or commercial property of their dreams takes a lot of trust, patience and people skills, as a start..
Especially for the first time buyer, there are many confusing aspects of the real estate purchase process that need be carefully advised, all the while maintaining confidence in the buyer and monitoring the market for time-sensitivity. Truly, the work behavior of a real estate agent or broker is complex and requires constant revision, as buyers change with market swings, demographics, and more. In this article, I want to outline several key habits of high quality real estate agents and brokers, based on personal experience (as a buyer) as well as market trends.
Keep in mind that there are many ways to be a successful real estate agent or broker, and these habits are just the tip of the iceberg. If you’re currently an agent/broker or are considering finding one to aid you in a property purchase (commercial or residential), feel free to view our listings and contact our preferred agent team directly via our website: bizpappa.com. We’re happy to hop on a call to learn more about how we can help.
Habit #1: Be proactive with clients and the market
Being ahead of schedules, market trends and client paperwork is one of the easiest ways to achieve the recognition of being a high quality agent or broker. If working with first time buyers, this means being able to forecast better markets, types of paperworks that will need to be filled out, steps for gathering necessary insurances, documents (even if you’re not a lender, you should be able to outline to your client the general process), and more. Being proactive also allows agents/brokers to have more time to find new prospects, update their portfolios, and more. It’s a simple way to not just improve business, but improve your own life in 2021. One way that brokers and agents are starting to be more proactive is to create website portfolios, where they outline their experience and relevant, public facing references, so clients can educate themselves on how good they are. Not to mention, it can help with SEO.
Habit #2: Build relationship with clients
There are some archaic references out there claiming that separation of relationship from clients helps to prevent biases or buyer remorse, but all business transactions are grounded in relationship- it’s practically unavoidable! Either the client will trust and be happy with an agent/broker (positive relationship) or there will be little communication (bad relationship). Our world is becoming more and more intellectual, and buyers are more aware of how much commitment an agent or broker has to their cause. If there is a poor relationship (buyers don’t feel the commitment), then there’s a good chance the deal will never close, or they will flat out walk away. Treating every client like a dear friend for whom you sincerely want the best for, is a great habit to have.
Habit #3: Emphasize positives, deal with negatives
There’s never going to be a perfect deal- typically the property will be missing a few things from a clients “want” list or there might be a trade off that’s pressured by time constraints. For example- a property that isn’t quite in the desired area but is at the price point and has an additional amenity that was previously not expected. As it typically occurs, an agent and their client discover a property on the day it’s listed, and there are already 5 pending offers. In these instances, it’s a great habit to emphasize the positives (price point, extra amenity) and deal with the negatives (it’s only an extra 10 minute drive away). Not only does this help increase turnover rates with faster sales, but it actually helps clients realize that they truly are getting a good deal (there’s that trust piece again) and gives them a sense of the big picture. It can be so easy to get lost in the granular bits of a deal, for buyers, agents and brokers alike!
Habit #4: Synergism with the team
The positive habits of one broker or agent should be distributed evenly across the entire team- the lender, underwriters, office faculty, etc are all part of the team that helps a buyer fulfil their goal of purchasing a property. This distribution of habits can yield benefits to both the buyer and the agent/broker. For the buyer, it establishes a sense of “team”, that there are multiple people checking and making sure that they’re taken care of. For best results, direct client communication with these members is always a great idea (remember the earlier part about intellectuals). For the agent or broker, having synergy with their team means that workloads can be distributed, allowing for them to spend more time with clients or new leads. This also benefits the team members involved, who may trade clients your way in exchange for assistance with their workload.
2021 is going to be an interesting time for the real estate industry, but there’s no doubt that sales will continue to occur. This means that brokers and agents need to sharpen up their skills if they want to remain competitive in the market. At BizPappa, we’re creating a suite of tools for brokers to get the more out of their careers. For more insight on this process, please visit bizpappa.com or email us directly at firstname.lastname@example.org for more information.