The real estate scene is currently undergoing two major transformations to which, whether you are an experienced realtor, or an agent just entering the business, will have to adapt.
The first one reflects the Real Estate Investing Report by Harris Interactive, suggesting that new generations of investors are moving to the real estate market, due to the worldwide economic hardships and uncertainties. The report concludes that more than half of the interviewed Millennials, who experienced the economic downturn of 2008 as college students or graduates while job hunting, are moving away from the stock market and tackle the real estate investing industry.
Secondly, a study performed by the American Modern Insurance Group found that over 80 percent of Millenials, although still renting, plan on becoming house owners in the future.
All this makes for a promising prospect of real estate investments in the following years. However, the rekindled interest of investors in the real estate market may wane if it is not met by dependable and trusty agents. On the other hand, prospective buyers will face numerous hardships on their path to the perfect property, and they will need a reliable and resourceful realtor.
Thus, we’re outlining the tips on what makes a successful real estate agent that is ready to face all challenges, blow away the investors, and evangelize the potential buyers.
Partner with an Investor-Friendly Brokerage
Those agents who are already in the investing business themselves, or are interested in becoming investors, should look for an investor-friendly brokerage. Such brokerages provide agents with access to the latest technology, webinars covering a range of valuable topics such as lead generation, and weekly training investing, as well as their experience to educate agents in real estate investing and help them build their real estate portfolio.
Moreover, an investor-friendly brokerage allows you to buy or sell your own properties, enter the VIP investment programs, as well as the opportunity to become one of the partners.
Use CRM and Lead Generation Engine
“Success is not the result of making money; earning money is the result of success – and success is in direct proportion to our service.” Earl Nightingale is right on – it’s a very common misconception, especially among the newbies in the real estate business, that a realtor’s success is measured by their profit.
Every realty purchase comes as a result of the real estate agent’s knowledge, organization, effectiveness, and reliability. But to stay on top of everything, from multiple clients and listings to your business’s lead generation and marketing, you could use some help from a professional tool.
The market is abundant with CRM and lead generation tools for realtors, but rare are those that provide a comprehensive approach to all your needs. One such is kvCORE, the #1 rated real estate platform, built to power your business from A to Z.
The platform boasts key features for a successful realtor, such as lead generation and marketing tools, customizable website builder, customer relationship management tool, in-depth analytics, as well as transactions and listings management.
kvCORE is a must tool for every real estate agent aiming for the top, and for agents at NB Elite Realty, this astonishing platform comes at an amazingly low price.
Become an Investor Yourself
In order to really feel the pulse of the real estate market, an agent ought to enter the investment business themselves. Becoming an investor will not only help you acquire technical knowledge but also open your eyes to the difficulties, pains, and uncertainties investors face.
By being aware of what troubles realty investors, you will not just resolve their problems, but prevent them as well.
Choose a Mentor Wisely
Mentorship is quite common in the real estate industry, and for a reason. Finding a mentor experienced in the business, who will provide you with unique insights and trade secrets is invaluable – so make sure you make the right choice.
Yet, as the industry’s particularities change, mentorship ought to be lifelong. Thus, the best real estate agents choose brokerages that will enable them to learn and improve throughout their career, by offering training programs or educational content to rely on.
Establish Meaningful Connection
Business is business, and we agree on that. However, working with people always entails a degree of personal approach, and this is especially true for realtors, who work with clients during some of their most delicate times.
Selling/buying properties is an emotional time for many, so take your time to really get to know and do your best to provide to the needs of each of your clients, regardless of their purchasing power or the probability of buying.
Set Aside the Time to Grow Your Business
A piece of advice that many real estate agents overlook at some point, but is integral to becoming a great realtor. Establishing your name within the industry is not an easy task, and it entails a comprehensive approach to building a brand out of yourself.
Focus on highlighting the benefits unique to you as an agent, and invest in creating a recognizable, trustworthy, and extensive presence on the market.
Nurture and Convert Leads
Lead generation is the buzzword of business people and marketers today – for a reason. With business markets oversaturated, prospective clients are overwhelmed with the abundance of individuals or companies to choose from. Thus, when a business gets a lead, its main task is to nurture it and ultimately convert it into a satisfied customer.
But the real estate lead generation process should not be left to chance. Taking advantage of every opportunity to generate leads means you are always prepared to present yourself and your business to an interested party and possess a vast knowledge of the real estate trends.
There’s no such thing as an overnight success. All the realtors you are admiring now have worked hard and long to get to where they are now, and they would tell you that the effort never stops.
Being a real estate agent entails many different aspects of conducting business, and to become a great realtor, you will need to employ a comprehensive approach towards your clients, brokerages, and ultimately, yourself.