What Do Real Estate Agents Do on a Daily Basis?
Although being a real estate agent is a somewhat flexible job, it's still definitely a full-time job. While you might not constantly be showing homes and commercial properties, there are dozens of other tasks real estate agents manage to ensure their success.
The amount of time you spend on each task varies. Plus, it's dependent on where you are in your career, and how many people (if any) you have on your team. Below, we will review some of the more essential things real estate agents do daily and how much time each task takes.
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1. Communicate with Prospects and Clients
If you've ever worked with or near a real estate agent, you already know there is no "off" button. In this era of instant communication and gratification, real estate agents spend the majority of their time answering texts, calls, and emails from current and prospective clients—at all hours, day and night.
Questions about properties, offers on properties, and scheduling showings are just some of the things clients consistently reach out to real estate agents about. Balancing these calls and emails with in-person meetings is a full-time job on its own.
Still, it's only part of the daily life of a real estate agent. No matter how seasoned you are in your career or how many people you have on your team, you will still be battling constant communication with your team members and clients—this doesn't get any easier with tenure.
2. Review Current and Potential Listings
If you have clients looking for anything from a single-family home to a condo or commercial building, you will have MLS notifications set and check them regularly. Staying abreast of the MLS ensures you always have new options to show your clients.
Additionally, checking the MLS keeps you informed of any pricing, contract, or market changes. Many real estate agents review the MLS when they wake up in the morning, but the listings are always changing, so it can be beneficial to check them throughout the day. More experienced real estate agents, or agents with a team, usually rely on junior team members to keep them updated on any listing changes.
However, for those agents that like to be in control, or those who know their clients' needs the best, checking the MLS listing might still need to be part of your routine.
3. Schedule Meetings and Showings
You'll need a schedule that has client meetings, open houses, close dates, and walk-throughs. But beware, nothing is set in stone. Not only will you have to contend with the ever-changing needs and wants of clients, but you'll also have to stay up-to-date with market changes.
Since homes and properties hit and fall off the market every minute, you'll need to make quick adjustments to your schedule to accommodate everyone. Some good news for more experienced real estate agents or those with team members is that you can delegate your schedule to someone else—just make sure to double-check it!
4. Generate a Constant Stream of Leads
Real estate agents don't make money unless they have clients, so agents need to prioritize cultivating a list of leads. Whether this list of potential new clients comes from your marketing efforts, word of mouth or returning clients, you always need to know where your next sale is coming from.
If a majority of your leads come from marketing efforts, you will have to spend time marketing your services every day—whether that's through a website, social media, email, or direct mail.
While some agents choose to manage their marketing, others prefer to hire an agency. Of course, you can hire a marketing agency or consultant at any point in your career, but you'll need the funds to cover it, which often only comes after real estate success.
5. Play the Middleman
Frequently, you're going to play the role of a middleman for your clients, mortgage companies, and other real estate agents. This requires you to be great at problem-solving and negotiating. While your primary concern is your clients, you don't want to make any enemies while you're trying to find them the home of their dreams.
You have to play the emotionally neutral participant to keep your client's emotions in check.
No matter how advanced in your career you are, there's no getting out of this role. It's just part of the job. However, the longer you're in the industry, the easier it is to play the middleman. When you're an industry veteran, this will seem more second-nature than anything, and you won't even think about doing it every day.
Ready to Become a Real Estate Agent?
Now that you understand how time-consuming being a real estate agent can be, are you still motivated to make this a career? If so, sign up for our real estate pre-license training today and take the first step to become a licensed real estate agent.