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Real Estate Agents (Part 4)

May 13th 2020 at 7:56 PM

Here is the last section of our four part series on real estate agents:

9. Know what's best. 

In Part 6 we spoke about learning and improving by focusing on your own results and assessing it. As a real estate agent one of the greatest assets is self-reliance. But, particularly if you're new to the game, you should always look elsewhere for guidance and help. Let's all get philosophical here for a second. We exist in a culture of subjectivism. The distinctive taste of your consciousness colours all that you feel. It means we all see the world differently but it also means that we all see each other differently. This goes for both your reflection in the mirror and your sense of skill. It has major consequences for your work as a real estate agent. Trust is an valuable quality in a salesman; but too much confidence will alienate your prospects — and if there is a truth about confidence, it's because the person who has too much doesn't know that.

The best way to address this problem is to "balance" your experience as an agent with that of the agents around you — and the top performers are the ones who did this job for themselves, for example private real estate. Begin by establishing relationships with your fellow agents and brokers, the people you see every day. Not only can you expand the network of connexions that you need to be an successful salesman — you will have access to their hard-earned expertise as well. Hear horror tales, as well as tales of their success. Please take time to ask questions. If an experienced agent has no time to support you during work hours, then offer to buy a drink afterwards for him or her. Worried about the future for your relationship? Let someone that you trust receives one of your sales calls. He or she can point out a tic or error which you can not see. Not getting the response you want from your advertisement? Get reviews from someone who's found it out. 

Next you need to expand your emphasis. Go outside of your workplace to find out which agents in your neighbourhood or area are strongest and/or most noticeable. Do the enquiries. Why do they do, other people aren't? How is it that they market themselves? What instruments are they using? Look at the numbers. How do they do business and where do they do it? You may say that agents are independent contractors, they're not going to be able to share their sales secrets. True, telling you something is not in the best interest of them. But if there is one thing people enjoy in the real estate industry — in any career, actually — it's seeing as an expert. By contacting a peer, you tell him he needs to be consulted. You affirm his arduous years of service. Besides, the people you're going to ask for advice are already good at what they're doing. That doesn't mean that they're going to give up their edge entirely, but it does mean they can afford to support the little man. In reality, the secret most people carry is that they don't really know what they're doing. They would have no problem in sharing some of it with you if they have real experience.

10. Wisely pick your broker. 

As an immobilier you have gained both independence and obligation. Your business is your business but your company is your company. Even, working alone doesn't mean working for yourself. If you want to receive an extra broker's licence and work independently, you'll almost definitely be working at an organisation under a broker. That said, just because you can hang your licence anywhere you want doesn't mean you should. You'll want to make sure you have the right match before committing to a broker. Start by doing some earnings research on the product such as can be seen on sell my home online sites. It's obviously critical for your agency to be profitable — but how successful are they in your niche? If you find that you mainly deal with consumers, an agency made up of seller agents would probably not benefit you; if you're most comfortable selling to middle-class families, an agency with predominantly high-end listings might not be the best place to go.

Visibility and credibility are also important when choosing a broker, as is maintaining your personal relationships. When you are going to tie yourself to an organisation, you want to make sure that they can help you get noticed and gain the confidence of customers, particularly when you don't have many of your own contacts. There's also a explanation why many real estate brokers don't opt into a big chain: they're pricey. As an initiation fee, franchises can charge tens of thousands of dollars local. They can also charge renewal fees and raise extra revenue by marking up "business & promotional products." Plus, most franchises take up an additional percentage of each commission seller pay. All those expenses will impact the agent's bottom line. However, a big name can not amount to much, depending on where you're. Which is, RE / MAX might have offices in 82 countries, but if anyone in a twenty-mile radius at Sullivan Realty knows "Big" Jim Sullivan, you'd actually be better off with him. 

Finally, having a sense of the nuts and bolts of working at an organisation is critical. The best way to do this is to converse with other officers. Seek visiting as many of the organisations that you are considering as possible. Ask about breaks in contracts, infrastructure, administrative support, ads. Seek getting a feel of the society in there. Is the lead broker a tempering Egomaniac? Is he interested in broadening the company, or is he apathetic? Is dynamics competitive or collaborative between the agents? Why does that suit your philosophy? Connect with the organisation that will back your performance.

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