Just as in any other profession, the Real Estate market, too, has a set of good, bad and average agents. While every agent is promoting their brand to the maximum, trying and testing all the tricks in the real estate book, a buyer or seller might find themselves in a fix when it comes to zeroing in on an agent who fits the job perfectly. So, how does one recognize and select the best agent who will live up to their expectations, understand client requirements, and get the job done ?
Stated below, are a few examples of the traits the client looks for while choosing the right agent
Selecting a real estate agent while selling property
While location is an important aspect in the real estate market, a client with a property located in a not-so-favorable-location will look for a real estate agent who is competent and driven enough to establish a selling strategy. In a commonly occurring situation such as this, the Agent must be flexible and innovative enough to know what the next step in the selling strategy. In this case, they should follow the 3 Ps rule:
Presentation of the property:
A good real estate agent should possess the know-how of selling a property that may have its share of cons. They should be able to highlight the pros and positive points of the property in a glamorous way so that the cons, such as the locations or the floor level, take a backseat when the buyer views the property.
Promotions are an important aspect in the real estate business. While it’s easy to make a decision to sell property, finding a buyer is equally hard. Hence, it is imperative the seller look for an agent who can build a strong promotional strategy to reach out to a vast network of buyers. In a Real Estate market, the buyers will always try to figure out if the property fits the market place, and so, it is the responsibility of the agent to promote it to the best of his ability.
A well-informed real estate agent will have adequate knowledge about the pricing of the property, in tone with the other properties sharing similar features on the market. The pricing should be attractive enough for a buyer to consider it.
Important Points about Successful Real Estate Deals
Trigger points are the reason for the buying or selling of a property. The more the agent can tune into the seller’s trigger points, the more effective the sale will be. It is important to understand the motivation behind wanting to buy or sell a particular property.
For e.g. wanting to sell a house due to excess space or space constraints. Thus, it is important to select an agent who can slip into the client’s shoes. While roping in an agent, the buyer/seller must be honest and truthful about the needs and reasons for buying/selling. This way, the agents can work better and quicker to find properties that match their client’s requirements.
What makes a Good Agent?
Successful agents believe in operating as a business within a business. They invest in their brand and are constantly looking for ways to improve. Successful agents follow the 5 Es rule:
Motivated agents possess vivacity, vitality and a go-getter attitude.
They focus on getting better, and more confident at what they do, by constantly honing their expertise. They work on expanding their dictionary on market knowledge and are experienced enough to know how to deal with situations in case they get tricky.
They believe in stepping into their client’s shoes to gain clarity on the client’s ultimate goals. They lend an ear to the client while discussing the selling process, and share their grievances, too, as they know that as of that moment, the client is dependent on them.
The real estate agent should be enthusiastic enough to take up a property to be bought or sold, on behalf of their client. They should, successfully, be able to communicate the details and the pros of the property to the buyers.
For e.g. We had a buyer at Gupta & Sen, who felt like the location of the property they was shown was somewhat distant from the main city streets. On the upside, the property was relatively larger than most of the houses sharing the same budget on the market. The location, though distant from the main road, was a peaceful area in a safe and friendly neighborhood. All our agents at Gupta & Sen did, was communicate the positives of the property to the client, thus, changing their outlook on the property. After much discussion and contemplation, the property was successfully bought by them. Last week, the client’s eight-year-old daughter called us and she couldn’t stop praising her “beautiful new home” and her “big-big bedroom”. Such phone calls give us the confidence to do more, and do better.
In order to be recognized, the agent should make the effort to be known through their work and success stories in the market place.
Before hiring an agent, the client will always sure the agent hard-working, determined, dedicated and driven enough, to go the extra mile and get the work done.
Real Estate Agents and Bad reputation
While some of the agents do the extra work, some of them are laid back or lack organisational skills. They fall through on their promises to live up to the client’s expectations, and get the job done. Many a time, agents fail to realize that quality and quantity go hand-in-hand i.e. the quantity of work taken up by them should match the quality of work they put in to meet the client’s expectations.
Given below, is a video from the Tom Ferry Show, explaining why most Real Estate Agents are likely to fail. The video aims at giving you a broader aspect on where Agents go wrong, once in the business.