In Australia’s soaring property market real estate agents have to be tough, resilient and market savvy to continuously make sales. It’s not enough to just get by, you have to have key attributes if you want to be successful.
1. A good real estate agent - has their finger on the pulse
Keeping up to date with market trends is essential to matching buyers with sellers in your local area. With most capital cities across Australia experiencing rises in house and apartment prices, it’s more difficult than ever for a lot of people on average wages to get a foot on the property ladder.
For example, according to Domain, houses in Sydney’s western suburbs were affordable 5 years ago at $350K, have now shot up to $1 million making them out of reach for low income buyers. Real estate agents who want to keep ahead of the game need to know trends like this so they can adjust buyer expectations to the changing market.
2. A good real estate agent - is an expert communicator
Being an expert communicator means being there for your clients and providing regular feedback and progress reports. There is nothing more frustrating for clients than having to chase up their estate agent to find out what’s happening. Informing people, even if it’s to say that there’s been no update, makes a potentially stressful situation less stressful. Lack of communication is one of the biggest complaints about real estate agents, so stand out from the crowd and keep in regular contact with your clients.
3. A good real estate agent - is always learning
Make it a point to broaden your skillset and industry knowledge every chance you get. Take courses, attend seminars, talk to more experienced agents to get their top tips. The best agents recognise the world of real estate moves fast and they can’t rest on their laurels. They know they need to stay fresh by constantly learning new skills and keeping up to date with technology to effectively handle market challenges. Whether clients want to buy a home with siblings, use money for a deposit from mum and dad, or buy a granny flat, you’ll be able to lead them in the right direction and advise them accordingly.
4. A good real estate agent - builds enduring business relationships
Your reputation is all important when it comes to securing clients, and keeping their loyalty for years to come. Great real estate agents who have been in the business for years are infallibly honest, trustworthy and reliable, and they have a wide network of previous clients who refer family members, friends and colleagues to them by word of mouth. If you’re a new agent, not only do you have to secure a client, you have to work hard to be their real estate agent of choice in the future. You can build trust by never offering mediocre or unethical service, even a small slip up can be damaging to your reputation.
5. A good real estate agent - is in it for more than the money
With real estate your income is largely dictated by how much time and effort you want to invest, and how good you are at getting listings. But great real estate agents see clients as more than just dollars in their bank account. They receive real satisfaction in helping people find the perfect home, and rejoice in their successes. For buyers and sellers, this is an exciting time in their lives, and you as an instigator get to be part of that. Always treat each client as a person with unique hopes and dreams, and you’ll be rewarded with more than just your commission.
If you’re an ambitious real estate agent with big goals, you’ll enjoy our monthly newsletter bursting with industry updates, helpful tools and essential insights. Simply signup below and we’ll deliver a monthly dose of inspiration and insights, straight to your inbox!