The Real estate industry has proven to be one of the successful industries in various parts of the world. According to statistics, 87% of real estate agents fail after 5 years of venturing into the business. Real estate is known to be lucrative and an authentic wealth generator. Then here comes the BIG question.
What did the 13% of these successful real estate agents do correctly?
People have failed to realise that although real estate is a sure-fire way to avoid barren bank accounts, It has specific habits, tips and lessons that would shape you into becoming a successful real estate agent or realtor.
A lot of articles have highlighted different DONTs of real estate and the different manners that must be avoided if you want to make it BIG in the industry. But let’s take it from the “WHAT YOU MUST DO” angle and highlight habits that would make you a successful real estate agent.
- Have a FUNCTIONAL team
A lot of people seem to get this wrong. As individuals, it is in our nature to be competitive and have a certain need to be better than the next person and as great as this sounds, this shouldn’t be present in any business establishment.
A team is made up of different individuals with different ideologies, methods, and strategies that fuel creativity. Being in a team improves your chances of succeeding as a realtor. It doesn’t matter how skilled you might be or think you might be, it is almost impossible for you to be successful as a realtor or in any business venture without a FUNCTIONING TEAM. A team is likened to the human body having different organs that function together to achieve different goals.
Having a team would give you access to various resources and knowledge that allows you to pitch confidently to your prospects. They help with strategies that move you forward and they cheer you on even in your lowest moments.
- Consistently Upskill
Now that we have successfully established the need for a team, let’s take a look at skill improvement. As a realtor, you must constantly improve your skillset. This makes it easier for you to talk to any prospect regardless of background. Skills upgrade is a must for any entrepreneur, regardless of your field. A successful real estate agent is one who keeps on learning and growing.
But do you know the ULTIMATE skill that’s vital to any business, real estate included?
THE SALES SKILL.
This is the powerhouse of any business because this is what brings the money to keep the establishment going. The only way for you to become a sales master is by taking on courses, going for training, and gaining massive amounts of knowledge that empowers you as an individual. Failure to increase and improve on your skill sets you up for failure.
3. Expand your NETWORK
According to Robert Kiyosaki, “the richest people in the world look for and build networks, everyone else looks for work”.
People are your greatest asset and the larger your network of people are the greater your net worth. Before you generate leads using social media adverts, you can get a large number of potential clients from your current contact base, but this can only yield positive results if you have the RIGHT people on your radar.
But how do you get the right people? Good question.
As a real estate agent, sitting down in an office and relying on your current contact base might not produce your desired results. First, identify your target audience, followed by being involved in your local community, be available for BENEFICIAL events, train yourself to be a conversation starter, learn to be outspoken, attend community functions and polish your social skills. Once you have established a connection with a person or group of people, continually follow up with this newfound friendship because they are your potential clients.