As we begin to shift into this new era, there are several things real estate professionals should be preparing for. What you do now will not directly transfer over to what people expect in the future, but it is important to be prepared for some changes.
In this article, I’ll go through a few areas that real estate pros can start practicing today. Make sure to check out our other articles before moving onto others.
Thanks for reading! Let us know if these tips helped you in the comments below.
Understand the importance of social media
Social media has become one of the most important tools for real estate agents to use in their business. While some still believe that posting pictures and ads is the way to go, it is not!
Real estate professionals must understand how powerful these sites can be if they want to see success. Gone are the days when you could launch an online presence and forget about it.
Now, people read blogs, surf the web, and watch videos about what your company is doing. If someone sees something interesting or helpful, they will likely do research on you to determine if this information seems authentic.
By having a strong social media profile, you are letting potential clients know who you are, what services you offer, and supporting reviews and comments about yourself.
These things all add up to create trust which is key to being successful with real estate.
Focus on your brand
In this era of technology, people do not really appreciate the work that real estate agents put into branding themselves. They are focused more on how to list their house or how to close a deal than what kind of person they want to be.
As an agent, you have the chance to set the tone for yourself by choosing how you talk about yourself and what you represent. You can choose to position yourself as someone who is professional and dedicated to helping others, or you can choose to focus on being popular and getting results quickly.
It’s your choice. But make sure it’s one that matches who you want to be and what you want to achieve with your career.
Know your market
The best way to be successful in real estate is by knowing your market. This means understanding what areas are hot, what types of homes are selling well, and which ones are underperforming.
It also means being aware of the trends that are happening around you, from the price range of houses to how much competition there is for a house you want to list it.
Real estate agents who understand their market and stay up-to-date on the changes will reap the benefits.
They’ll know if a season has ended or if one is coming close to ending so they can prepare! And when the other agent’s market slows down, they’ll know what tricks work and don’t work so they won’t waste time trying things that don’t.
There’s an app called Zillow that does a great job at giving you this information, as well as listing all the properties for sale in the area and comparing them with similar houses that have recently sold.
Make marketing your priority
With so many ways to connect with other professionals, there is no reason for you to struggle alone in marketing yourself or your business. You are being consumed by technology at a lightning speed, making it easy to get distracted.
You have to invest time into creating engaging content that people will want to read, share, and use themselves. Your hard work can easily be wasted if you don’t actively promote yourself!
By promoting yourself and what you have to offer, you open up opportunities to meet more people and create new relationships. This not only benefits you, but also boosts your reputation as an expert and leader in your field.
There are plenty of free and paid tools out there to help you achieve this. The most important thing to remember about marketing isn’t how much money you spend, but rather whether or not your efforts produce results.
Just because someone else doesn’t seem to be doing well with their own marketing strategies doesn’t mean you should give up. Keep trying until you find one tool or technique that works for you.
Commit to working 12-15 hours a week
As mentioned earlier, staying in business means being accessible! This is not only important for your clients, but also for yourself as an agent. You want to be able to meet with potential buyers or sellers at any time, which can mean 9 AM – 11 PM during the workweek, and even overnight when necessary.
Running your own show requires consistent effort over a long period of time. It will easily burn you out if you don’t have invested that into it before hand.
You need to know what you are doing, and how to do it well. Plus, you need to enjoy it, otherwise people may not feel comfortable coming to you for help.
Having a backup plan is very helpful as well. If something unexpected comes up, you are still ready. This way, your client doesn’t feel like they wasted their money by going to another broker.
Hire a team
As we mentioned before, being successful in real estate requires more than just having a license and knowing the rules of the game. It takes having a team that includes you, your colleagues, clients, and even family members who are supportive and helping you succeed.
As much as it may sound like motivation to have everyone else’s success taking credit for yourself, it is not. When things get tough, there’s a reason that people with teams always seem to make it through.
It’s because they’ve built relationships and trust over time – relationships that keep them motivated when times are hard. And it’s also due to their teammates, who help them achieve their goals by working alongside them and supporting them.
In fact, a recent Harvard Business School study found that relationship skills are the most important factor in determining someone’s overall career success. More specifically, the researchers determined that only one third of employees say they’re willing to put in extra effort to create strong bonds at work, and less than half said they were able to motivate others to do the same.
That means almost two thirds aren’t investing in these essential workplace qualities — and we can’t stress enough how crucial this is for real estate professionals.
If you’re thinking about buying or selling a home, you should be asking yourself if you have those key relationship skills already.
Technology has become an integral part of our daily lives, something we can’t live without anymore. With the availability of almost limitless amounts of free or cheap tech, using it to help in your career is totally feasible.
Running your own real estate business comes with its share of responsibilities, but you don’t have to do them all by yourself! Hiring someone to handle some of these tasks for you can save you time and money in the long run.
By hiring people to manage certain parts of your business, you shift the responsibility onto individuals who are more capable than you, which helps promote growth among those professionals and you.
These assistants can be anyone from virtual assistants, to online marketing experts, to surveyors that work under you.
Know how to properly use a website
With the explosion of online shopping now, people have become accustomed to buying products virtually anywhere at any time. This is very different from what we were used to just a few years ago, when most major purchases were made in stores or via phone calls or chat sessions with sellers directly.
With the availability of almost anything you can imagine through various apps and sites, it has also created an opportunity for anyone to be their own seller. You no longer need to be an entrepreneur with a lot of money to start your business!
By using these services wisely, you will still get the benefits that they bring to selling goods, but not as advanced. For example, some may offer you special deals by having you do a survey about the product or service you want to buy, which helps them determine if this item is best for them or not.
There are many ways to make money online without being too complicated.