When you’re a real estate agent, how you work will play a large role in determining your success. If you want to learn how to sell more properties, check out our five tips below.
Know Your Neighborhoods
One of the most critical tactics for successful real estate agents is to know the neighborhoods where you show homes. Having intimate knowledge of the areas you sell is one of the primary ways you can demonstrate your skill and expertise to buyers and sellers.
Suppose you’re starting your real estate agent career. If that’s the case, you should spend hours each week mastering property values in your market by studying comps in the MSL and reading about economic conditions.
More experienced brokers should focus on how economic conditions and unemployment might affect home prices in the near future. Having this kind of detailed knowledge about home values will make you stand apart from other agents.
You will wow potential buyers and sellers if you can offer helpful advice on home prices. Also, consider expanding your knowledge into other ZIP codes.
For example, you could memorize the average sales price, total days on the market, and number of new weekly listings.
Try Not to Fit the Stereotype
There are many unpleasant stereotypes of agents. Online horror stories depict pushy real estate agents who don’t serve their clients’ interests.
Such typecasting isn’t fair to most real estate agents, of course, but you have to acknowledge the perception is out there so you can counter it. For example, you should strive for a professional and ethical agent demeanor from the moment you start to talk with prospects, especially if you’re cold calling.
When you make an effort to gain a buyer or seller’s business, it may reassure them to state explicitly that you won’t call every week. Instead, ask them to let you know when they would prefer to set up a showing and leave the ball in their court.
You can also avoid the stereotype when you inform prospects you aren’t in business to make a quick buck. Say instead that you like to educate buyers and sellers about neighborhoods and real estate transactions.
It’s essential to indicate you aren’t desperate for their business but that you’ll give them a call after enough time passes.
Network with Other Agents
You compete with other agents, so you probably shouldn’t work with them, right? Wrong!
Let’s say you run into a buyer or seller who clashes with your personality, or perhaps the person wants a house in an unfamiliar neighborhood. Instead of turning away that prospect, consider co-listing or co-representing the person with another agent.
After all, a 50% commission is better than nothing. Teaming up with another skilled agent can be an effective way to avoid losing the sale to someone else entirely.
Pitch Real Estate Stories to Journalists
Local reporters always appreciate a good story, and you can leverage this desire by handing them a great one.
For example, if you notice you’ve been selling more homes with three-car garages this year, call a reporter at your city paper and pitch a story that might explain why homebuyers are in the market for more garage space.
However, you probably won’t get anywhere with reporters if you just call and ask to be a source. Instead, do some of the work for them, and they’re more likely to be willing to quote you in a story.
Don’t Turn Prospects Down
Some agents only want the big commission, but you can make your business grow by never turning down potential buyers and sellers. Even if they’re only going to rent and you get a $200 commission out of it, that renter might be ready to buy in another year or two.
Real estate agents face heavy competition, but you might be able to find more clients if you adopt the principles we’ve outlined here.