It takes a special type of person to succeed as a real estate agent. According to Tom Ferry, real estate coach, and motivational speaker, 87% of all agents fail within the first 5 years. So, how do you break these odds? What habits do the successful 13% of realtors have that make them stand out in this industry?
It’s much more than the number of sales you close or the number of clients you find. You have to commit yourself to habits that will improve your craft and benefit your clients. I’ve put together 9 habits that will help make you a great realtor and make you one of the 13%!
1. Establish a Morning Ritual
A morning routine is a great habit for anyone in any industry. A set ritual can wake you up faster and get you out the door quicker. Everyone’s routine can be different, so make yours essential to you. If you need a coffee first thing, do it. Or, if morning yoga helps get you up and moving, do that. Do what you need to do to put yourself in the right mindset for the day’s goals. Remember a morning routine doesn’t happen overnight (get it?). Be positive and set your mind to it and you’ll see results in no time or at the very least, you won’t be late for work again.
2. Learn About the Neighborhood
As a realtor, your clients expect you to be the subject matter expert on specific areas. It’s important that you can answer their questions automatically without thinking. Learning as much as you can about a local neighborhood will extend your value and credibility if you don’t have to “get back to them on that.” Becoming an expert on one area is just the starting point, knowing one area can lead to knowing another, then another. This will broaden your expertise and in turn your client base.
Communication is an imperative skill to have as a real estate agent. Client’s come to realtors to buy or sell a home. There are many steps and confusing terminologies used in this process. Especially with first-time buyers, this is a scary and exciting time. You are fluent in all areas of buying or selling a home. Help them feel more comfortable with straightforward and simple answers to the complicated questions they may have. Make a habit of practicing your pitch with someone in a completely different profession. If they can understand all the nuances then you are on the right track.
4. Time Management
Your time is valuable and so is your clients’. Set your calendar and keep to it. Be aware of what your time is worth and treat it with that value. Staying focused on your timeline and communicating with your clients on updates and changes will be appreciated by both parties.
5. Social Media
Maintaining updated social media platforms can be a huge resource as a realtor. Getting involved with your target audience will enhance your name and showcase the great work you are doing in your area. You can post about listings, events being held, real estate tips, or your own real estate blog. Take advantage of these free platforms to find and interact with potential new clients and promote your own personal brand.
6. Set Goals and Track Performance
As a realtor, you will get busy and if your tasks and leads are not organized they could be forgotten. Make a habit of tracking all leads and contacts from: open houses, networking events, friend of friends, previous closings, etc. Organizing everything in a Customer Relationship Management tool (CRM) will keep you coordinated and sane during your busiest times. As a leg up, here is a summary list of different CRM tools for realtors to get you started.
7. Relationships Before Sales
Just because you are tracking sales and communication doesn’t mean you can ignore relationships. These are not just contacts and leads, these are people. They look to you for advice and guidance, and they have to trust you. The process can become almost effortless after building a strong relationship. Ask questions and be a good listener. Have empathy, the more you can put yourself in their shoes the more respect and trust will develop. It makes your clients feel appreciated and it can lead to them reaching out to you in the future, or recommending you to a friend.
8. Be Aware not Beware
Every home comes with its own aches and pains. Be aware of the condition of the property and its needs before you show it off. It’s going to come out in the inspection, so being upfront at the beginning will help you get items off the checklist quicker. Keep a policy of transparency to bring you and your client closer to the end goal – a happy new homeowner.
9. Leverage Systems, Technology, and Personnel
Make it a habit to have your business reflect you and the work you provide. Hire slowly and don’t just look at qualifications. You have to work with your staff and they need to “get” you. Take a good look at your current systems and see if you can improve their efficiency with better technology. Consider downloading a few apps to make your job easier. For social media, there’s Buffer or Hootsuite. To easily take notes and sync them on the fly there’s Evernote. And, to get you through that last mile, we’d like to recommend putting Jonny On It!
Remember why you started!
Our habits define the work we will produce. A successful realtor has at least a few of the above habits down pat. If you want to be a part of the 13% practice communicating, stay organized, and send me, Jonny, to clear your checklist.