In my opinion, the easiest way to reply this is to understand that people will only recommend someone who they know are reputed and will not embarrass them or let them down in any way. They have to be sure that you are a trustworthy person and morally good, reliable, cheerful, cordial and a caring person. One has to remember that people who do recommend your services are taking a risk on you because the blame will be on them if you turn out to be anything other than the best real estate agent available. In the world of real estate, your moral character, work ethic, sense of fair play, experience, skill, wisdom, charm, compassion and competitiveness are all qualities that help you to earn praise and referral business. If you are a real estate broker, you need to ask yourself if you have a true concern for the well being of other people. As an agent selling property in Mumbai or any part of India for that matter, I believe that you must consider the needs and desires of other people before your own. You need to respect people of all cultures, ages, sexes and religions. More importantly you need to have patience!
If a deal will cause problems for people in your community and cause harm to the residents of society then it is always best to walk away from a deal. Because you are going to continue to do business in your territory for a long time, it is always a good idea to make it your priority to be a part of your community’s solutions to problems rather than cause more problems! If you fix or improve something then people remember your deeds with kindness. When someone needs a realtor they will think of what you did and respect you.
Discipline Required to become a Realtor
A real estate agent works under the umbrella of a brokerage or a real estate consultancy brand. At Gupta & Sen we follow this model. Every agent who works with us is virtually on their own. There are of course some rules that we expect all agents to follow. There are supplies that they can use, a little bit of instruction and motivation and there are seniors who can be relied upon for advice every now and then but every agent is for the most part their own boss.
This means that no one rides you. Agents set their own schedules and work hours. But this doesn’t mean there is no protocol. We expect everyone to come to work at a set hour everyday because we understand that everyone needs a push now and again from a boss. Constructive criticism often keeps people on the right path especially for those who are just starting out in the exciting field of real estate.
I always tell budding real estate agents that if you are setting your sights on becoming a respected and trusted realtor you need a game plan and a strategy. The very best professional in one’s field is always the most dedicated, hardest working individual but they are also the ones that work smartest and not just the hardest. A good boss will keep his / her crew organized and focussed on the task at hand. If you are mainly your own boss, then you need to get disciplined in life and not become sloppy in life as well as business.
If you are your own boss and happy with closing one or two deals once in a while then it is easy to become complacent in life. Because no one is going to scream at you if you take a long nap post lunch on your office couch or just skip a day at work and go for a movie or to the beach. These are of course the perks of being your own boss. But many people are not mature enough to be able to handle the discipline required to be your own boss and be successful. And then there are those who work themselves to death by working day and night till they burn out! You may have heard them being referred to as “workaholics” and many of them are praised and admired for the limitless ambition and tireless work ethics. I believe that becoming a mindless work machine is not what can make you a top Realtor or a top “anything” in life. More than benefiting you, overworking can be extremely detrimental to your health.
Top Realtors have a personal life and they value balance and moderation in their daily routines. Yes they can step up to the task when the situation demands and accomplish extraordinary things when that is necessary. But they do not rely on working round the clock in order to outpace the competition. Top Realtors work smarter than the rest of the herd!
Mastering the Real Estate Profession
There are a couple of things that are required to be mastered if one wants to rise to the top of one’s profession. One is obviously you need to know how to advise clients who are looking to buy or sell property. Two you need to know how to bring your services to the attention of the masses. Three, one needs to learn how to prioritize and manage your own time professionally and personally. Four, one has to be able to recognize an opportunity when it presents itself and act fast in order to take advantage of the situation.
There are also other things that one needs to understand to be a great realtor – Human psychology, negotiation tactics that work, land evaluation, architecture, building construction basics and terminology, maintenance costs etc. A top realtor knows about property insurance, what is necessary and what are the costs. You need to know the local laws related to development, FSI, requirements for a building permit, financiers and of course the requirements required to qualify.
One also has to stay abreast of all the local government programs, laws and incentives that are available to your clients for rehabilitation, for receiving tax incentives as well as incentives for clean energy and green initiatives.
Top Real Estate Agents are experts at networking. They know everyone and take great pleasure in meeting new people. They have a wide network of friends, associates and acquaintances in high and low places. This is the power of a real estate broker! Our job as Realtors is to ensure the smooth transition of property as it changes hands from one person to another and to negotiate terms and conditions that are favourable to your client. A lot of brokers are comfortable and happy with the statusquo that they are in and rarely break out of the comfort zone to acquire new leads and create new pathways for their business. But when things are in a statusquo with things staying as they are, it is not an ideal atmosphere for lots of commission cheques! At Gupta & Sen we believe that we are an aggressive company full of dreamers and ambitious people trying to accomplish big things. We are rarely happy with the statusquo because we want commissions to flow!
With every new agent who walks in through our door, we ask them whether they have entrepreneurial zeal in them. We personally like to work with people who are progressive, anxious, high energy with a can-do spirit. Because we believe that buyers and sellers want to hook up with a Realtor who is passionate about the business of real estate and excited about helping them meet their objectives. Top Realtors in today’s world have to be in one word – Visionaries!