Tips For Upcoming Real Estate Agents

Apart from buyers we believe that a lot of upcoming real estate agents and brokers who have just started their businesses come to our website. The power of networking is harnessed many times over when a sale is made with the help of the many agents – small and big – who are plugged into our network. So we are starting a new series of helpful articles to help these agents become better at what they do.

The Real Estate Myth

When you decided to become a real estate agent, you probably had an idea in your mind of what a real estate does but you may have had in your mind the idea of a real estate agent based on the agents in your neighbourhood or your interactions with one of them while renting or buying a property yourself. You probably had no idea of an agent who is a true professional in the business. A lot of times, many real estate agents procure their real estate license, hang it on the walls of their office and just sit back and wait for clients to drop in. They seem to be perfectly happy while hanging around in their own or the main broker’s office and wait for the phone to ring. It is actually so easy for someone to become a licensed real estate agent that they never take their job as seriously as they should. Real Estate is not a 9 – 5 job. It is a career choice and a lifestyle choice.

When you decide to plunge into the real estate profession, know that you while you have a great career opportunity to become a successful professional, so did all the others who came before you and decided to drop out in a few years or lesser! A big misconception that a new agent will have is that there will be an endless flow of customers who will bring business to you. But nothing could be further than the truth! Real estate is a difficult business to break into and only hardworking dedicated professionals crack it. A lot of agents keep their license active, sell a few homes in a year and then claim to be in business full time but only a few will make a large amount of money in agent commissions.

To receive an income of 1 Cr. per year a new broker will have to sell 10 homes of 1 Cr. each. In some areas and cities, this is an easy job but in smaller towns and during slumps, this is a difficult job. There are many reasons for agents not meeting their sales targets – too many agents in a small market, rising interest rates, much lower home prices and many other factors can prevent sales from reaching the 10 Cr. mark. A poor market can be dscourging for new agents but there is a silver lining. Consider the agents who sell upmarket and sea facing properties. In this case, just selling one home could make the agent cross the 10 Cr mark or even higher, making it easy for the agent to reach the 10 Cr mark easily. Depending on your area or market where you operate in, you will quickly know how many homes or properties you will need to sell each year t reach your 1 Cr or 10 Cr annual targets. Like I mentioned in some areas just selling one home may do the trick while in other areas it may be an uphill task just to find one property that costs even 1 Cr.

Real Estate is Not For the Weak Hearted

You have to be thick skinned to survive in this business because there is always someone who wants your business and your clients. You have to remember that when it comes to dealing with large amounts of money, anyone will stab you in the back for your commission unless you happen to be working for family. But even then you cant be sure! It is only you and your conscience that will have the final say in how far you are willing to go in order to close a sale. But in my mind, the choices are pretty clear. If you are in business for the long term then clearly ethical practices is the way to go.

A smart real estate will not resort to stealing business or take unethical steps in order to get a decent income. They will earn their business and once they get it, they will keep it for a lifetime. By being ethical and following best practises you may lose one or two clients along the way but what you end up gaining will be yours to keep. After you learn to ensure client loyalty, your clients will stick to you for their entire lives. Also you will not have to depend upon your circle of influence because your career will be set 🙂

Real Estate Agent at Gupta & Sen
Chloe is a real estate advisor with Gupta & Sen. With a combined experience of over 15 years in varied industries, she is a vocal and knowledgeable ally for buyers and investors who want to make informed choices when buying a property in India. With superlative communication and marketing skills, Chloe handles our PR, real estate marketing strategy and client management.
Chloe Dodd