Why Real Estate Agents Need to Stay Motivated and on Top of Their Market

Why real estate agents need to stay motivated and on top of their market

Real estate is sales. No more and no less. You can go for months without selling anything and, naturally, be discouraged that you’ll ever succeed. Feast and famine is the order of the industry. So it is crucial that you break through this feeling to land your million dollar deal for the year. To land those deals you have to BELIEVE that you can do it – and that is why motivation is so important!

Motivation is also important for the following reasons:

a. Personality makes the sale!

Motivating yourself is essential because in real estate it is your personality, almost more than anything else, that counts. Reputation travels fast. Your success will hinge on word of mouth. Make a good impression and many more clients will want you to service them. That is why it is crucial that you feel on top of your field and that you remain confident in your abilities and skills, even when things don’t go as planned. Real estate can be hugely stressful – both for you and for your client. If a client leaves unhappy, whether it was due to your efforts or not, word-of-mouth spreads quickly and can affect your referral network and, ultimately, your bottom-line. Remain motivated!

b. Motivation gives you momentum!

Motivation pumps you up. Real estate is a feast and famine phenomenon. The famine part may be harder to sustain your energy for the feast. But the feast will come if you’re primed for it. That is why it is so important to retain your motivation so that you keep on enhancing your skills and so that you, somehow or other, manage to maintain your relish for your work. Motivated agents are more inclined to go the extra mile for their leads and clients, and the extra mile is always worth it.

c. You are self-employed

At the end of the day, you are running your own business – and that is precisely why motivation matters! As agent, you may work under a broker and the broker may provide you with marketing tools, education and mentoring, but, ultimately, you are responsible for your own results. It will be largely up to you to find the leads, manage them and close the deals. In short, you as agent are a business-person, an entrepreneur, self-employed and, like any self-employed individual, you will have to motivate yourself to keep your business going. In other words, the drive, determination, and self-discipline, must ultimately come from the agents themselves. And that is why it is so important for you to be self-motivated!

d. Motivation is one of the two most important skills!

Real estate hinges on knowledge. You’ll need to know your geographic locality inside out as well as going property prices and industry regulations. But, otherwise, the two most important factors are your personality and motivation. As regards personality, you’ll need to be gregarious, likeable, and you’ll need to possess excellent people skills. You’ll also need to have empathy in order to understand people’s situations and needs, so as to serve them best. Otherwise a positive attitude is crucial. Without that, you are at risk of defaulting on the first particularly since you’ll, likely, find the labor uphill work for you (especially in the beginning) and tend to be disheartened or frustrated. In that way, motivation underlies anything to do with real estate and is basically the corner-stone of your success.

Says Zurple, the real estate lead generation agency: Success in real estate relies on two main things – a great business strategy and a strong drive to succeed. If you’re missing one or the other, you will struggle. And if you have both – your’e on your way to success.

The bottom line is this…

Success in business, especially the real estate industry isn’t the 100 meter dash – it is a marathon. Maintaining a steady level of motion can be tricky, but it’s your main – if not your only – way to success.

Here are three tips that can help you:

  1. Recognize your progress: Take it slow and pat yourself on the back for those minor victories. Congratulate yourself for staying on task and for completing all those incremental steps that were so necessary for closing the deal.
  2. Find yourself a successful mentor: In the cutthroat industry of real estate finding someone excellent to help you can be laborious. Avoid brokers who are ready to hire you for fees. Take your time in finding someone who is a good match for you, who is honest and who has your best interests in mind so that he. or she, will give you the time and guidance that you need.
  3. Organize your time well: Set aside time to speak to clients, review industry reports and statistics, attend meetings, and see to all the other variables that go into the real estate schedule. Improve your skills as you go. Don’t avoid tasks that you don’t like. Be self-disciplined. Look to the future – don’t dwell on your failures; learn from them.

And one more thing…

Get and stay motivated!

Do You Market, Or Sell Real Estate?: 3 Things To Consider

If you are a Real Estate Licensed Salesperson, or Associate Broker, etc, it’s important to consider, whether, you are selling real estate, or, in – sales, and, whether, you market, or sell properties, etc! While many, seem to believe, these are the same, in reality, there are some significant differences, in how one proceeds, acts, behaves, functions, and serves, those who hire him! Do you market, or sell real estate, or both? While there are many things to consider, this article will focus on, three significant things, to emphasize, and focus on. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, what this means and represents, and why it matters.

1. Market and promote, versus, selling proactively: What is the difference between selling and marketing real estate? It is the responsibility of an agent, to perform both these duties, and more! Marketing properties means promoting them, using a combination of personal and professional contacts, advertising, referrals, digital promotions, etc. However, unless one transforms these actions, proactively, into sales, not only, won’t the agent, get paid, but he does not fulfill his obligation to his client! The essential difference between selling, and sales, is, selling is the process, while sales, is the closing, of the deal!

2. Marketing using an Open House, versus the follow – through: All Open Houses are not created equal! While, for most properties, this process is helpful, at least, from an exposure perspective, some agents, proceed, merely as attendants, while the most successful ones, try to make an inspiring, motivating, compelling connection, with those, who attend! Since most sales, do not arrive, directly from an Open House, it’s important to use them, to develop a list of qualified, potential buyers, for other situations, which may present themselves! How one follows – through, makes all the difference, in the world!

3. Market via advertising, but selling, by converting the deal: Advertising is one form of professional marketing, when used effectively, in combination with other available promotional areas, often makes a significant difference, for the better! What differentiates the finest representatives, from the rest – of – the – pack, is proceeding forward, consistently, and constantly, in an effort to truly, convert the deal, and close a sale, which produces the most bang – for – the – buck!

Real estate professionals must provide the finest service for their clients, by, both, marketing, and selling properties, closing deals, and making sales! Why should homeowners hire you?

Sellers – How Realtor’s Market Your Home to Other Realtors

Many first-time sellers believe the most important marketing tools a realtor can use when selling their property are yard signs and other visible online and print ads geared to the buying public. Although this is obviously important, a lesser known marketing tool that professional realtor’s use is marketing to other agents. The reality is that once a home listing is placed on the MLS (Multiple Listing Service), one of the most important marketing tools a realtor can utilize is the relationships he or she has with fellow agents in his office or with other agents within the community.

Depending on which office a realtor works for (whether it is a large office with a nationally known name or a private business) when your house is newly on the market, it is usually customary practice that the company will stage an “office preview” where every agent in the office will walk through and tour your home. This is important because for each agent who tours your home, they might be the one who has the potential client that may be looking for just the style, location and price your house has to offer.

Professional agents who represent the buyer usually are keen on what their clients’ needs and wants in a home are and thus will immediately contact their clients as well as the listing agent.

The buyer’s agent will usually approach or call your listing agent and ask the terms and details of the sale, including the compensation. If the transaction seems probable, most buyer’s agents will hustle to have their clients tour your home to see if it is a potential match and in turn they will beat out their competition at making an offer. Many homes are sold in just this way, often even before a yard sale sign goes up!

Although the seller is in effect, paying the commission of both agents, the financial incentive is also important to the buyer’s agent. Usually there are almost always two agents involved in every sale, they split the commission according to the listing agent’s instructions agreed upon on the original listing contract between the homeowner and the listing agent. For illustration purposes, the agent who has listed your home is usually referred to as the listing agent and the other agent representing the buyer is the buyer’s agent. If you are able to convince your listing agent to drop his commission, it doesn’t guarantee that the buyer’s agent will be too amenable to the idea if he or she is expected to lower his or her commission as well.

Since agents are paid on commission only, the fact is you won’t find as many agents willing to show your house – they’ll be showing houses to their clients that offer the customary commission to the buyer’s agent especially in a buyer’s market. While an agent’s commission is currently a raging point of contention in the news media, what many consumers are not aware of are the challenges in selling a home in a buyer’s market as well as in a state that has stringent regulations and aggressive (i.e.cutthroat) competition such as in California. In addition, most homeowners do not know that not only do a buyer’s agent and a listing agent split that “hefty” commission with each other, they also must split it with their broker or office depending on their individual sales production. Furthermore, since real estate agents are independent contractors, they must split that commission with the IRS who, depending on their individual tax bracket, can take a 45% bite out of their commission check. This fact alone might shed some light on why a professional buyer’s agent is very likely to be unhappy with a reduced commission and be less than motivated to show your house to his or her clients.

As for your listing agent, it is this combination of a professional agent’s ability to market to his or her’s peer-to-peer relationships coupled with his or her’s own knowledge, skill and professionalism that can make a huge difference in the final sale of your home. Depending on the agent’s negotiating skills and productivity, over time a professional listing agent develops an ability to negotiate well with other agents representing potential buyers– even those agents that may be new in the business and may not know all the ropes. Furthermore, it’s the agent’s ability to sell even in a buyer’s market that proves his or her sales skills and merit. These are all subtle sales skills that will ultimately contribute to a smooth transaction and the successful sale of your home.