The world of real estate is a competitive market that has a high agent turnover rate, according to Russell Shaw in an article for “Agent Genius.” Shaw estimates that the top realtors make 50 to 60 sales per year. There are no secrets to becoming a successful Realtor. Those listed at the top are individuals who have developed contingency plans, are always prepared and have developed important business habits. Top Realtors are also those who have all started at the bottom and learned from their mistakes.
Know yourself. The National Association of Realtors states you should know your own strengths and weaknesses as a Realtor, and be aware of all the threats and opportunities in your respective market. By knowing your strengths, you have a better chance of growing in a niche market that can enhance your skills.
Create a strategy to win new customers. On the rare occasion, a customer is handed to a realtor without any effort. However, you generally need to work to find new customers. In your personal business plan, detail ways you will find new customers, such as advertisements in newspapers, using social networking websites or personally introducing yourself to apartment tenants. You also should tap into resources already available to you to help you maximize your productivity.
Prepare worst-case scenarios ahead of time, and solve them. Write down all of the things that could go wrong with any part of a real estate transaction. Then, jot down the steps you would take to resolve them. By doing this, you will be better prepared for unexpected events, will know what to do and appear more professional.
Build trusting relationships. Take the time to develop relationships with individuals who can help serve your customer’s needs and refer new clients to you. For example, developing relationships with different brokers can help you guide your clients to the appropriate type of financing. Knowing the local United States Housing and Urban Development (HUD) representatives can help customers who are new homeowners secure a down payment grant and mortgage insurance. Additionally, know how to best get a hold of your contacts. For example, a client may prefer email correspondence, while a broker may prefer telephone calls.
Keep your promises. Those who are top Realtors always follow-through on promises. It is vital to show up on time, call when you say you will, keep your customers in the loop, be prepared and be trustworthy. These traits will help you build rapport with your partners and customers, and build a reputation that will help secure new business.