There are millions of real estate brokers who work in all kinds of places and niches, helping people buy and sell their properties at the most optimum rates possible. While most of these realtors do their job decently and diligently, there are always a few who stand out of the crowd with their high-quality services and exceptional customer satisfaction rates. Not only do they get homes and commercial properties sold fast and at good rates, they are also popular among other real estate workhorses – from movers to bankers.
One of the fastest ways to find out the level of success of a real estate broker is through their annual earning. By and large, the higher their annual earning, the more is the chance of them being successful. In fact, according to the Bureau of Labor Statistics, the difference between annual earnings of the top 10% estate agents and their bottom counterparts is as much as $90,000. However, that is not the sole indicator of a successful real estate marketer. They also have several traits that distinguish them from the rest. What kinds of traits are these? Below we explore the 7 straits that all successful real estate agents have in common.
#1. Real Estate Brokers Are Very Determined
While this may seem very obvious and more of a no-brainer, having a steely determination is pretty much a non-negotiable trait when it comes to real estate brokerage. Navigating the waters of the real estate industry is both tough and complicated, as every player is determined to get what they want and almost always have the option to walk away – even without a proper explanation. Rejection is far more commonplace here, and almost every step has an equal chance of success and failure.
Without a doubt, it takes a highly-determined individual to get success in the real estate business. A successful real estate broker understands the fact that buying and selling real estate comes with a very unique set of challenges and constant obstacles that they need to dodge to get the job done. They have the dogged and relentless drive to turn every loss into a win, and every rejection into a sale, making sure that their client is rewarded according to their own wishes. That said, they also see reason, and readily accept their failures, learn from them and move on to never repeat the same again.
#2. They Have A Problem-Solver Mindset
When it comes to real estate, solving problems is a critical part of the process. Besides the quintessential problem of getting a property bought or sold, there are multiple problems that crop up in the process of getting this done. There are physical, monetary, and legal aspects to buying and selling real estate, and each step of the process comes with its unique set of challenges – from the clients’ budget and requirement to contractors’ limitations to legal hurdles and logistic issues. What’s more, no set of problems are ever the same for any two given transactions.
Needless to say, it takes a special level of skills to ensure a smooth sales process – where everyone (including the real estate broker) wins, and problems are solved without hard feelings and bruised egos. The best real estate agents, therefore, are known to have a problem-solving mindset. They solve each problem that comes their way with calm, composure, and creativity, and prevent getting overwhelmed by the process. They are comfortable with the fact that solving problems is an integral part of the process, and that sometimes one needs to adopt less-used and unconventional methods to achieve goals.
#3. They Know Everything About Their Niche
When a real estate broker sells a property, they are selling more than just a house to live in. They are selling the idea of a home – complete with a neighborhood and surroundings, where the clients will live the lifestyle of their dreams. Portraying this complete picture requires more than simply the knowhow of the property and its specifications. It requires the real estate agent in question to know all about the ins and outs of the area, its demographics, and other lifestyle features. In this context, ‘niche’ may imply one of two things – the local area, or the type of property that the realtor specializes in.
Having a good working knowledge of their own niche gives real estate brokers several distinct advantages. For starters, it helps them answer any and all of the curly questions regarding the area from prospective buyers that may come their way. These include those related to public transport routes, activities, amenities, and facilities. Secondly, knowing about the lifestyle that comes with the niche will help agents shape their sales and marketing strategies. For example, if the realtor’s niche is luxury homes, they will refrain from selling to lower-income groups. Last but not the least, such knowledge prevents them from wasting precious time by avoiding making unnecessary legal errors.
#4. They Are Willing to Adapt to New Technologies
Time, tide, and technology wait for no one, and this is especially true in the context of real estate. Technologies that support every aspect of real estate operations are popping up on the market, and as a rule, the earliest adopters get to reap the most benefits. From interactive websites to project management apps, and from social media channels to MLS listing software – the more tech-savvy the real estate broker is, the more likely he or she is to get ahead of the competition. Take for instance one of the biggest technological advancements that early adopters have had great success with – virtual staging.
This relatively new technology allows real estate brokers to have their listings designed virtually by 3D artists. The rooms thus designed are always according to the niche, trends, and wants of the target market. They are complete with all kinds of furniture, accessories, and decor elements that enhance its realistic quotient and highlight its potential as an ideal home. This offers a key benefit to agents – since the entire process is digital, agents need not go through the hassles of physical real estate staging. But that is not all – pro virtual staging allows real estate brokers to kill many birds with a single stone, as they can easily be integrated into multiple platforms – websites, social media platforms, and MLS listings.
#5. They Have A Wide Range Of Contacts
The world of real estate has more than prospective sellers and buyers and brokers. There are scores of other players – from workers and bankers to contractors and property managers, and from lawyers and appraisers to loan officers and inspectors. They are all industry professionals and have a crucial role in the process of buying or selling a property. Any real estate broker who understands this key factor makes it a point to network and have many such professionals as contacts. They know that at the end of the day, one can only be as successful as the company they keep.
A successful real estate agent knows that the role they play is very similar to that of the conductor in an opera. And much like the latter, they should know each of these workhorses well enough to have them as their contact, and in turn, be one of theirs. This requires a friendly and diplomatic attitude on their part, and most importantly, time for networking. Real estate brokers with a reputation in the market are known to have a variety of contacts – from top clients who constantly make successful referrals to professionals and even other agents.
#6. They Are Client-Focused
As complex as the machinery of the real estate industry is, it has but one point – to serve a client who is either buying or selling a home, and get them the best deal possible. While all real estate brokers work for profit, the goal is to earn said profits while offering these clients value. It is only then that they can establish themselves as credible and trustworthy. Keeping a client-focused approach works two ways for a real estate broker – investing in others and investing in themselves and their business.
Successful brokers in real estate always keep the conversation focused on the client – even in the middle of the terse property negotiation. If they are selling on behalf of the client, they make sure to portray the strengths of the property and repair the weaknesses as much as is possible. Besides this, they also update themselves and their business from time to time. They attend seminars and opt for short-range professional development programs to keep themselves updated with the latest trends and conduct regular market research to find ways to keep up with said trends.
#7. They Have Great Attention-to-Detail
Brokers for real estate spend a lot of time looking at tiny details. From considering the client’s wish list to comparing housing prices, to reviewing the fine points of contracts and other legal documents, there are many intricate details that need to be closely seen and scrutinized. While these are not the most exciting to work on, they are extremely crucial to the process of closing a deal. Even a single detail missed or gone wrong can cause an entire property sale to get derailed or even canceled altogether. It can also affect the client, and lead to the real estate broker paying fines, or even having their license suspended or canceled.
For this reason, any broker for real estate who is worth their salt knows and makes it a point to pay exceptional attention to detail. They know that the “little things” that may seem dull and repetitive have the power to make or break a deal, and therefore keep a sharp eye to make sure that they are all on point. They are well adept in the art of seeing the fine print and reading between the lines, and can quickly catch and correct anything that even remotely fails to go in the client’s favor, or puts them under any legal risk. That way, they ensure that the process remains smooth, all the way from contract to close.
There are millions of real estate agents out there, but there are only a few of these who are successful enough to stand out from the crowd. The above-mentioned are the most crucial traits that are common among the most successful among them. Any real estate broker who has these traits is sure to achieve great heights by keeping their clients happy and ensuring a smooth buying or selling process.
Interested in taking your real estate listings, websites, and social media pages to the next level using the best quality virtual staging services? Contact us at ArchiCGI – our team of dedicated professionals will be happy to help you achieve what you need to stand out from the crowd and get your worth known in the industry.