Working in real estate is not easy, especially with the changing economic climate. But it can still be rewarding. Here is what it takes to be successful during tricky times
A tough market, stringent lending criteria from banks and repo rate changes are just some of the factors that result in estate agents exiting the industry.
According to information shared at the RealNet National Franchise seminar, of 70% of buyers and sellers using the services of an agent, only 20% trusted their agent. An estimated 80% of new agents will leave the industry within a year. This is despite the enormous potential offered by real estate. How can you do a great job and ensure that it’s a good fi t for you?
STICK TO THE FUNDAMENTALS
Quite simply, agents who list will last. Make sure your property is marketed correctly through, for example, portals such as Private Property and Property24. In addition, following the basic steps – prospect, present, close, service – will go a long way. Honesty and integrity in all your client dealings are non-negotiable to make a good impression.
Keep up the good work with these additional, easy-to-implement tips:
• Maintain a positive mindset. Potential clients will pick up on a lack of energy or laziness and this may influence their decision-making process.
• Be motivated and assertive. Don’t take the first no as an answer; instead be confident in your abilities as a salesperson (without being overly pushy). Rejection is part of being an estate agent – it’s not personal, it’s business.
• Set measurable and achievable goals. Have targets to work towards and stay focused while reaching them. Avoid falling into a comfort zone – put in more eff ort than neighbouring agents to stand out. Make sure your expectations are realistic.
• Keep up appearances. This is a people game – and that means first impressions count. Your personal presentation is therefore critical to improving your sales pitch.
• Don’t let a lack of training get in your way. Study for relevant qualifications, take advantage of any opportunities to go on training courses, stay on top of industry developments and ensure your personal management skills are working hard for you.
TAKE YOUR INDUSTRY GAME FURTHER
Success is either extremely difficult or extremely easy – it’s your choice. It’s important that every client walks away happy with the offer presented to them. That may mean investing in a smaller market share to provide better service and increase your commission.
A bigger market share may mean you lose out on deals – but remember, the one who leads with stock, leads the market. A drone, website or app may help with information and increase your organisational skills, but they are not a substitute for empathy.
Under certain circumstances, a hug can actually be a better sales tool.
In addition, turn up the AC/DC in your car: “Activities: Correct, Daily and Consistent”. Finally, the more you practice, the better you will become – shortcuts won’t get you there.
While the real estate industry may not be easy, with enough hard work and drive, you can make it work for you.
FIVE TOP TIPS
1. Ensure you have a prospecting and marketing plan.
2. Be techno-wise and change with the times.
3. Understand the millennial mindset as well as new market trends.
4. Work smarter not harder.
5. Understand that education transformation is a reality
Jo-Anne Strydom has been in real estate for 21 years, initially as a sales agent before moving to training. She studied Real Estate Advanced Practices in Miami. She has carried out contract work for leading agencies and accredited service providers in South Africa.
Words Jo-Anne Strydom