I have worked with and amongst many real estate agents. Exceptional ones, good ones and not up to par ones. Actually real estate agent are supposed to be professionals in their own field. That’s the reason why they get agent fee. Many people buying for the first time would deal with a real estate agent for the very first time in their life. Many buying for the second time may call back their agent for their first home or search for a new one if the first one was awful. Many seasoned investors normally teams up with a few close agents who helps him to monitor the market for good deals. So, what makes a good agent? Personally, they should have the four criterias below.
Work with a licensed agency. No brokers please. Get serious. A good agency typically have trainings for their agents too. This allows the agents to learn how to be really good agents and the agency to reap the benefits of hiring these agents. Typically the base pay for agents are not enough to sustain them but with the right training, the agent would be able to reap the benefits of closing more deals and faster too.
Knowledgeable. I hate it when I ask the agent, ‘Is this leasehold?’ and the agent answers, ‘I don’t know’. As a buyer, I would definitely want to know more about the property that I am buying. Hello, it is SO EXPENSIVE and I have to ask more questions. Why can’t the agent answer me? They should do enough homework. It is ok to specialise in certain areas like what a lot of agents do. This way you know about the area well and are able to assist the buyers when needed.
Diligent. Beyond just hardworking, the agent should do more, meet more, view more and do everything more than others. It’s not rocket science. Practise makes perfect. If I would like to view a property, even on Saturday, why not? Remember, everything starts from somewhere and whether you sell a house or not is all about probability. The more you do, the higher the chances that’s all.
Strong network. Be friendly to all. Never look down at anyone even if they are new. Get to know bankers. Get to know prominent property gurus. Get to know anyone and everyone and make a good impression. Give them a name card, jot down their name and ask them, what kind of property they love and if they would like to know if you found such properties. Chances are they would say yes and your network grows once they start recommending you.
It’s tough life in the first year as an agent, normally. At least for first 6 months. However, when the goings get tough, the tough gets going. Suddenly, deals start to come in and soon after, it’s all just a breeze. When you close more deals, your confidence grows and you can do more with less especially with your expanded network. Think about it. Why do you want to be an agent in the first place? If the conviction is just not strong, chances are you would not be a good one.
There are definitely many more reasons but if the real estate agent has these four, success will be awaiting.
written on 15 Feb 2014
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