This Realtor Gig is hard work!
(but I love it) and the more I learn the more I understand the effort required. Don't get me wrong I am not complaining but I may have entered the resale industry blithely with no real understanding of the demands placed upon the individual particularly if you wish to excel in this business.
This year one of my goals was to learn and master the skills needed to become the community expert (more easily said then done.) In pursuit of this goal I have been assisted by a coach, a mentor, other Realtors and the Active Rain community. While traversing this path I have learned much but have come to realize how much more there is to learn. As one coach states, "you don't know what you don't know."
There is an old adage that states anything worth doing is worth doing well, which means it may not come easily and usually requires hard work, definitely true of real estate!
Following are some of the pertinent facts I have gathered in my pursuit of community expertise:
The power of listings. They are a tool which can be leveraged to generate additional business (big caveat - the listing must be sellable!) In my enthusiasm to garner listings I accepted almost everything that came my way. Short sales, overpriced sales, I even dabbled with an investor flip (highly not recommended for the uninformed, this is an area of expertise all by itself.) With hindsight I can see I created tons of extra work - negotiating a short sale with three lenders, visiting and revisiting the sellers asking for price reductions and the flip (wow) the things I did not know about lending requirements almost caused us to loose the deal entirely, but that's another story.
I learned to view listings in three stages. Pre-listing, during and after. Procuring the listing is prefaced by creating a pre-listing packet and previewing every home in the neighborhood in order to create the most compelling CMA. Marketing and negotiating are critical areas which must be mastered in this age of Internet visibility.
Balancing listings with Buyers which requires a different skill set of consulting and locating the perfect home. It requires hours of research.
Prospecting - enough said! We all know it must be done daily to keep the pipeline full.
Timeblocking and discipline can be an agents greatest enemy or become a most valuable skill. Hours of previewing homes, studying the market and constantly analyzing the MLS are the basic blocks for building expertise in a community.
Continuous education within the office, at the Realtor boards, expo's, conferences or webinars keeps you informed about on-going changes in the industry. I was advised to attend an education event weekly. The industry is moving so rapidly that if you do not want to be left behind this is another important aspect of a real estate career.
Finally learn to trust in yourself, be authentic and confident in your own talents. Each of us is an individual with unique talents. Developing your natural skills allows one to build upon a foundation of strength. Bringing an individuality to your business.
This is not a career for the faint of heart. It requires dedication, skill, education and much, much more. This is hard work but I love it!
If you are thinking of buying or selling real estate in Riverside, Ca
give me a call or text - I would love to assist you!
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