5 Critical Steps To Making It In Real Estate Sales
Real estate is a big, competitive, and sometimes unforgiving industry. While many real estate markets have recovered in recent years, getting into real estate thinking you can become an overnight success can cost you your career before it even starts. Have the right attitude as well as proper real estate training and preparation, and take note of these 5 critical steps that will help you establish your real estate career!
- Step #1: Always Be Prepared. When you have an appointment with a driven seller, it is important to present yourself as a credible investor. It is wise to thoroughly research the property, the neighborhood, and recent sales in the area among many other information that would help you land the property. You should work on knowing the tax assessment of the house in question as well as its condition and proximity to key shopping centers and restaurants. Be sure to get to the appointment early so you can drive around the neighborhood and make note of landmarks and selling points such as schools, parks, recreation centers, etc. as well as the overall appeal of the area. Think ahead and be sure to take extra steps if necessary. In doing so, you’ll likely have a higher chance of securing the property and gaining the seller’s trust, which can lead to a quicker sale as well as word of mouth advertising for your services. Lastly, plan ahead, look for possible exit strategies and ways to pass on the property in a way that will net you the most profit.
- Step #2: Don’t Act Like You Know Everything. Although it’s great to stay on top of the conversation, you can’t get carried away and talk to the clients or investors without letting them speak their mind. That kind of behavior is bound to intimidate and wear down your prospects. Let your client explain his vision and make sure they know you care about what they have to say. In situations like this, it pays to slow down and listen. On the other hand, it’s not advisable for someone to just enter the real estate industry without sufficient training and expect to find consistent success in the market. While there are Cinderella stories in real estate, there have also been a lot of people who struggled or never found success in the industry, let alone their market because of poor preparation. With the abundance of online training providers for aspiring real estate agents, it’s best to invest in your education early on and get certified in your state sooner rather than later. In this way, you’ll have more credibility and more knowledge regarding trends and real estate laws associated with your area.
- Step #3: Don’t hesitate to ask. One of the many ways to increase sales in real estate is to ask questions. If they lay down a price that you know is too far off, ask why they came to that decision or what research has been done to give them that ballpark figure. If you have them explain, they sometimes come to realize that they are going a bit off base. Your curiosity is also going to help you obtain information that will allow you to reach out to prospective buyers, which should help increase the demand for the properties in your inventory.
- Step #4: Have an open mind and be observant. In this line of business it helps to learn to read facial expressions and body language. If you are negotiating with an investor and they seem upset, then it may be necessary to tone down on pressuring them. If they seem to be offended, they may also be just trying to trick you into the whole deal. It is important to learn how to read people’s behavior and the tone of voice they use instead of just the words they are saying.
- Step #5: Have the right mindset. It is very important to have a positive mindset. In this field, any negativity will not only show in your presentation, but it will also make sellers feel unsure of your professionalism and credibility. If you stay positive, then not only are you showing the seller that you mean business but you show that the agency you represent can get the job done for them as well.