What Do Good Real Estate Agents Do
A Real Estate agent‘s primary goal is and will always remain – To bring a buyer and seller together regardless of whom he / she represents. The agent gets paid only after the transaction reaches the closing table.
As we deal with our clients, we can write many offers to purchase but unless we can write winning offers to purchase, we do not earn any money. Further just because we have made an offer, the contract may not be accepted. Finally even with an accepted offer to purchase, if the deal doesn’t close we do not get paid. So let’s find out how a real estate agent gets paid.
A real estate agent is his / her own boss. We are independent contractors meaning that we are directly responsible for our own income. We must work with buyers and sellers in order to generate sales. First, we must obtain listings of potential sales and then we must move the buyers towards making a successful offer. In other words, we have got to earn it! When an agent earns it, commission cheques are written in her / his name. Let us explore further and delve into the job description of a licensed agent.
Real Estate Agent Characteristics
- A Real Estate Agent must be an active listener.
- He / She must be knowledgeable and informed on all aspects of real estate transactions such as showing off a property, writing and presenting contracts, negotiating offers to purchase and securing a sale.
- A good real estate agent will know how to get new business and leads. They will place new home ads in classifieds and listings websites, call prospective clients on the phone and canvass new areas for new business. Generally a top real estate agent will work long hours in procuring new business irrespective of how much business they currently have on their plates.
- Real Estate Agents have contacts of professionals in allied industries and will line up other professionals such as home inspectors, loan agents, appraisers, due diligence experts, lawyers etc.
- When negotiating for a land deal, agents stay in close touch with the surveying company so that the property is surveyed properly and quickly.
- Smart and successful real estate agents have the winning quality of using time-honoured and effective sales techniques in order to bring buyers and sellers in a timely fashion.
- Agents must also be able to master Internet lead generation so that they are able to harness good quality sales leads of buyers who are interested in purchasing property.
Responsibilities of a Real Estate Agent
- A real estate agent takes on the role of a babysitter when showing a couple a new home and often feel as though they are running a day care center because of the fact that they have to take families through one home after another and address common concerns about space, privacy and well being.
- Sometimes an agent may even have to become something like a marriage counselor when say the husband or the wife has not been very honest about the couple’s financial affairs.
- A top real estate agent has to be a masterful negotiator even when faced with a dead end on a deal and when it appears that there is nothing more left to negotiate. A good real estate agent is determined to never say die and is a hard-hitting person who knows how to push a deal forward.
- Agents may also need to be a financial advisor and must have financial and data crunching abilities.
- They often have to take on the role of a parent or an elderly family member when a young person needs advice in order to execute a deal while at the same time remembering their professional responsibilities.
- They are a friend and advisor to a client when he / she needs one.
- They are reliable and sound business partners in a real estate transaction and remain professional and transparent at all times.
- They can even become a client’s guardian and protector and in certain cases have to become the client’s power of attorney.
People Buy From People They Like
If you are new to the business or considering a career option as a real estate agent did you realise that you would have to wear so many different hats in your new career?! If you can inculcate these above mentioned qualities, you will become highly successful in the real estate business because you will be your client’s best friend right from the very beginning to the end when the deal is closed. Remember that – People buy from people they like. Consider this – would you buy from someone who puts you off or with whom you do not get along? Aren’t you partial to giving monetary contracts to your own friends rather than a stranger? This is exactly the reason why the multi-tasking hat will have to be worn at all times if you want to be a successful real estate agent. If you can act fast and think quickly on your feet, then your working style and ethics will please a large number of clients and you will not just become your client’s real estate advisor and agent but also their professional friend!