Thursday, October 4, 2012

How to Become a Top Realty Agent

 In the United States alone, there are about two million real estate agents. This is according to estimates by the National Association of Realtors. Worldwide, the number of property agents is also rising rapidly. The reason is often that most people think being a real estate agent is easy, fun, and profitable. It can be fun and profitable, but it is far from easy. There could be truth to it, though. So how could any real estate agent like you beat the increasing and intensifying competition? Here is an effective and logical guide.

First, think of yourself as the business. As an agent, you could be working for any broker. Keep in mind though that at most brokerages you're an independent contractor, with no base salary. You should not rely on any other person to help you do your duties.

Adapt a planning attitude. Effective agents should know how to plan and to execute timetables and goals. Remember that in this industry, if you do not have your own plan, you could find yourself within somebody else's plan. Successful agents are those who do planning well, professionally and personally.

Research your market and be conservative with your numbers; it often takes longer than you'd expect to get your business off the ground. You are responsible for your very own expenses as an agent. Thus, it would be ideal to direct your research efforts specific to your own marketing plans, which should be within your strategies. What is the difference between marketing and strategic plans? Marketing plans are mostly data driven, while strategic plans are identifying who is doing what and by when.

Establish goals in sales. Go back to your strategic plans and establish sales goals. It takes patience to do so. Execution of plans also takes time, so it is important to be patient and persevering if you really aim to be a successful real estate agent. For beginners, it usually takes about six months before fruits of such strategies are realized and goals are met.

Create financial budgets. It is not surprising that budgeting is very critical especially because of the ups and downs in the volatile market place. Remember that the financial budget should always plan and cover your marketing costs, as well as any other additional expenses like education and even forecast income.

Prioritize your business and marketing activities.  There's never enough time in the day, so it's important to focus on the most critical aspects.. For you to be successful, you should learn how to effectively manage yourself specifically in time management. Consider getting a sales coach if you have trouble with accountability. Real estate is a 24/7 business. But never overlook your personal life (family, physical life, friends, others).

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