How To Be A Successful Real Estate Agent: step by step.
How To Be A Successful Real Estate Agent: step by step.
First of all, I want to congratulate you on making the decision to become a real estate agent. I’m sure you’ve heard many stories about the success and failure of others in this field and you’re ready to write your own story.
I know you can do it, but it takes more than desire to succeed in the real estate business world. It takes a plan. Here are some tips to get you going:
What is a real estate agent?
A real estate agent who is dedicated to providing mediation, advisory and management services in real estate transactions that are related to the purchase, sale, rental, or assignment of real estate and its corresponding rights.
What is the necessary knowledge to be a good real estate agent?
– Basic studies in contact management, real estate marketing and customer service.
– Excellent communication and negotiation skills.
– Know how to manage in different areas and always have cordial and proactive relationships.
How much does a real estate broker earn?
Being a real estate broker can be a good source of income, since real estate professionals receive their income from the commissions or compensation they charge for each transaction. This means that everything will depend on the percentage of profit they can achieve for each sale, lease or brokerage.
The income is from sales commissions in Amoramar, which is from 3% to 5% of the value of the property. (1% in case of sharing a listing with an external broker).
The income of a real estate broker depends on the number of transactions they manage to close and their negotiating skills. The most successful brokers are the ones who keep themselves updated and are always ready to help their clients achieve better results.
How should I manage my commissions as a real estate agent?
Managing commissions is an important part of any real estate agent’s job. If they are not managed properly, being that they are variable income, you can have months of shortage which generates nervousness and desperation and this undoubtedly, is transmitted to the clients, having as a result, that the clients do not want to work with you.
Make sure you have a financial plan. This will help you determine how much money you need to live on a monthly basis. Once you have that clear, define how much goes to invest in your next real estate, so that little by little you start generating passive income.
Recommendations to manage your commissions well.
1: Establish a budget for your work as a real estate agent, considering expenses for tours, meals, etc.
2: Establish an income goal: a monthly amount for the expected number of deals you want to close and the expected percentage of each transaction.
3: Keep a record of your income to maintain a clear picture of your performance as a real estate agent. This includes a list of all the deals you have closed and the commissions you have collected, this will give you an idea of how much you can generate per month, and what the high and low cycles are during the year so you can prepare for them.
4: Cultivate patience. As you do more and more business as a real estate agent, your income will increase. Don’t get discouraged if you don’t get immediate results.
How can I get clients as a real estate agent?
Getting clients is one of the most important parts of a real estate agent’s job. Without clients, there will be no business and without business, there are no commissions. Fortunately, you are in a company that constantly generates clients for you, which is one of Amoramar’s greatest strengths.
However, there are many ways to get leads on your own as an agent. Here are a few tips:
1. Create a professional digital media profile. Start by building an account on social networks such as Instagram, Facebook or LinkedIn and keep updating your news feed with original content to build your personal brand. make sure you have a good online presence. Have social media profiles that are professional and engaging. Generate high quality content that is relevant to your customers and potential customers. Build relationships with potential clients through presenting yourself formally, professionally but also with authenticity. Have a professional and up-to-date profile picture to avoid arousing distrust among potential clients who may see it online. Have a professional and updated profile picture to avoid arousing distrust among potential clients who may see it online.
2. Secondly, make sure you are visible in their community, your family circle, friends or acquaintances. Attend local events and meet other industry leaders.
What skills do I need to be a good real estate agent?
If you want to be a good real estate agent, you must possess soft skills such as excellent communication and negotiation skills. In addition to these, you also need basic studies in contact management, real estate marketing and customer service. Other studies that will be useful are: real estate law to understand the laws related to the sale and purchase; economics to understand the macroeconomic variables that affect the real estate market;
9. Organize and manage your schedule effectively
Many people think that being a real estate agent means having more time flexibility and being able to work from home.
Well, it is true, as long as you know that you will have to be super disciplined to be able to organize your own schedule to fit your lifestyle.
Important, being a real estate agent is a full time job, if you think that this job can be a part time job or an “extra income” to another job, you are in the wrong place. This is a profession that if taken with responsibility and seriousness, can be what for many has been one of the professions that generates the most income for you. Set a work schedule and stick to it as much as possible. A normal day in the life of a real estate agent can start your emails and messages as early as 9 am and finish your last call at 8 pm.
Being a real estate agent can help you organize and manage your schedule by establishing a work schedule and respecting it as much as possible. This will provide you with a work-life balance, which will help you maintain productivity in the long run. Establishing clear contact times for your clients and being aware of messages only during those hours will also help maintain a work-life balance, which will improve your productivity.
5 common mistakes a real estate agent should avoid with clients
Not listening to your clients: we don’t mean simply listening to clients talk, but identifying their concerns, needs and desires related to the sale they are about to make. In addition to the fact that having to repeat information can be annoying for the client, the real estate agent who is not paying attention can miss key pieces of information that contribute to the closing of a successful sale.
Talking more than you listen: Always strive for a two-way dialogue during a real estate sale or negotiation. If the agent speaks without giving the client the opportunity to intervene in the dialogue
pressuring decision making, trying to control the outcome without taking into account the buyer’s needs.
Make use of your team at Amoramar.
At Amoramar, we are a team that helps each other. We’re in this together, and we know the beginning can be challenging. Ask the company or experienced real estate agents for help whenever you have a question, it’s important to learn more about the entire business process. It is important to stick to the tours that the consultants may have at the time of your training. Remind them each week that you are available to support and shadow them.
Being a “shadow” on a tour means listening and being attentive. It is important not to intervene at all in the consultant’s presentation or give an opinion that you think will help. It is time to listen and learn. Later on, if you want to give any recommendation or feedback to the consultant you accompanied, you can give it to him/her at the moment he/she finishes his/her interaction with the client. It is important to be attentive to help in anything the consultant asks you, because you are as if you were his assistant, if it is to load water or look for some information on the web, you have to show the best service and enthusiasm to do it.
The Tuesday meetings are for you to learn about the real estate market and you will get great benefits such as training, inventory updates, news of promotions and even assistance in complicated cases.
We are a team that is constantly looking for ways to improve our processes and outreach. We are open to hear feedback and improvements in the company.
Stay in constant training
Ongoing training is essential for anyone who wants to succeed in real estate. Sales experience will help you understand how to attract and retain customers. Being part of an institution associated with the guild will also provide you with knowledge of the latest industry trends. In addition, you will be aware of legislative changes affecting real estate. The training will allow you to gain practical knowledge on how to improve your business, giving you a competitive advantage. In addition to the certification course where you will learn a lot, there is also AMPI, the Mexican association of real estate professionals that offers weekly courses for associates.
It is important to be self-taught, in Amoramar we have a culture of constant learning, and although we offer some courses, it is important to seek from other sources, ways to increase your knowledge. Some examples are: Online courses, trainings from other agencies, podcasts, youtube videos, etc.
Make sure you provide a high level of service
To ensure a high level of service as a real estate agent, it is important to make the right first impression, but providing follow up to the sales process is just as important to ensure success. It is important to respond to clients’ questions and requests as quickly and accurately as possible, to keep appointments with clients on time, and to pay as much attention to them as possible during the meeting time. In addition, if you are unsure about something, it is best to verify it before offering advice. These actions will ensure a high level of service, as clients will have the confidence that they are receiving professional advice.
Belonging to the NAR as a Realtor®.
A real estate agent can choose to become a member of the National Association of Realtors® (NAR) and follow its strict Code of Ethics. This gives clients the assurance that they are working with a professional with the necessary knowledge and experience.
Tips for success as a real estate agent
Being a successful real estate agent involves a lot of hard work and commitment to achieve success. To become a successful real estate agent, you first need to have the right motivation: customer service, creativity, persistence, and money motivation.
Well, I am a witness that dreams do come true. I have been a real estate agent for 7 years and I can tell you that, if you are willing to work hard and learn from your mistakes, you can make it. Are you ready to start your career in real estate?
Best of luck!