Each month, we are asking our real estate experts questions about the industry. This month, our question is:
What is one major attribute a new realtor must possess in order to survive in today’s market?
Check out the responses from our industry experts! What do you think new realtors need to know to survive? Share with us your tips!
Pat Kelly, General Manager of Arizona
A self-motivated work ethic. In today's real estate market, a REALTOR must not only be smart, tech savvy, and have people skills, but more than ever, must possess self-motivated work ethic. I have seen people from all different backgrounds become successful in real estate, some with sales experience and some without, but the one common factor was they did not need outside motivation to get up, and get working. I actually believe self-motivated work ethic is the key to being a successful REALTOR regardless of the market conditions.
Jeff Wilson, Realtor, Southwest NV Office
"Flexibility" A new agent needs to learn to change directions on a dime and go the other way; whether you are talking about the clients financing, their home needs, desired location or anything else having to do with real estate. Clients will start off with very specific needs and wants search criteria and then make a 180 and want something completely different. There is also a word that all new agents must learn but are afraid to say, "NO". You can tell your clients no. Do not let your clients run your business.
Damon Caldwell, Corporate Broker, Southwest NV Office
There are many factors to a new agents’ success and to start us off I believe an agent in today's market needs to learn how to adapt very quickly. There are many different challenges, opportunities and changes real estate presents, whether it be the different types of buyer and seller leads, structuring a contract or offer to purchase, or the different types of financing and inventory.
Linda Stegall, Realtor, Southwest NV Office
I am a firm believer in customer service and think that all new agents must vow to live by this attribute. It is so rewarding when not only my clients comment on the level of professional service I provide, but when other REALTORS express their complete satisfaction of my work ethic.
Ron Pascual, Corporate Broker/Manager, Huntington Beach Office
New agents that come into the business need to have the patience to learn all the various aspects of income that can be derived from the real estate industry and chose which field or niche they would feel that they could be the most successful at performing.
Persistence is a characteristic that is very important to have for sales in general. The ability to organize your schedule, goals and follow up is critical in your success in the real estate industry. One must stay persistent in every facet of attaining a client, sale and closing. Never give up and continue to be a lifelong learner and your career in real estate will be fruitful and rewarding.
Bill Zinsse, Realtor, Summerlin NV Office
Whether it’s a new agent or seasoned , lead generation systems, contact management systems or a rich uncle with lots of friends help new agents survive in today’s market !
These would be the attributes a new agent must possess:
- Organizational skills
- Time management
- Communication and active listening skills
Edwin Schumacher, Realtor, Summerlin NV Office
Surviving in today's market requires a very positive attitude and willingness to work hard and follow any tips from experiences agents and hopefully some financial staying power knowing that each quarter and year as an agent they will have more transactions and referrals.
Cheryl Daly, Associate Broker, Glendale AZ Office
I would say that a new agent would have to be ready to wear a number of different hats and overcome adversity. As a buyer's agent, at first you are going to be a tour guide until your buyer knows exactly where they want to buy; followed by an aggressive negotiator and a supervisor once the escrow is opened, making sure everyone is doing their job and fulfilling their roles to assure a successful close.
Your clients ease and happiness is your number one priority. As a listing agent, be prepared to be the most knowledgeable and biggest asset to your seller they could ask for. You need to be able to talk about everything that has happened in the surrounding area in the past and what is happening now. Know the market better than your seller and they know all about their competition, so be ready.
To sum it up, be aggressive, a problem solver and a great resource!
Larry Link, Realtor, Glendale AZ Office
After years of working with agents to help them with their marketing efforts and now several years as an agent myself, the single item that a new or experienced agent must possess is focus.
The choices for an agent on where to spend time and money are limitless. From the time we sign up for our Real Estate classes, we are bombarded with ideas, plans, schemes, training, etc. which in most cases are extracting money from our pockets with little return. More importantly, many of these "opportunities" distract agents from the primary objective which is to get out and talk to people about buying and selling houses.
If a new agent can identify the area of the industry they most want to service and then remain focused on that segment, they have a much better chance of success. If they are drawn to one program, then another, then another...they will eventually be so confused and financially strapped that they will no longer be able to even identify what they want to do in their real estate career and will have difficulty in ever being successful.
It is the rare person who can service investors, buyers, sellers, landlords, tenants, high end, family homes, condos, property management, flipping and all the other opportunities that are out there while building a successful and solid business.
Brent & Brenda Kastanowski, Realtors, Glendale AZ Office
Hard to sum it up with one thing...but the word "consistency" applies to many areas of real estate. Consistently creating new relationships, consistently touching base with your center of influence, consistently marketing to many different revenue streams, consistently providing great customer service, consistently learning how to help our clients...all leads to consistent and steady business.
Andrew Altman, Realtor, Glendale AZ Office
A Realtor will not survive without superb lead generation and lead conversion techniques.