The American real estate market in 2021 is still booming, with existing home sales up by 23% against a predicted 9% for the second quarter. Low mortgage rates, high savings, and a strong job market have all contributed to this boom. After the pandemic, the rebound in the economy has also helped real estate pick up pace, with an average house staying on the market for 17 days compared to a traditional 38 days in 2019.
Benefits of Being a Real Estate Agent
With the real estate market exploding, and many new sellers entering the market, the need for reliable real estate agents is also rising. There are several pros of being a real estate agent that makes it an attractive profession, such as:
- Flexible hours: There are no office hours and you can work when you want to.
- Chance to earn big: Real estate agents can make a generous commission on each sale, increasing their overall earnings.
- Growth potential: In a booming market, you can expect a lot of work to come your way.
Becoming a Pro: Tips for Newbie Real Estate Agents
Entering any new profession can be challenging, and the same goes for the real estate industry. Many newbies feel overwhelmed by the volume of work, long working hours, and, most of all, client dealing. Here are a few tips that will help you jumpstart your real estate career:
Learning never ends, especially in a profession like real estate, where you need to keep up to date with the latest trends and housing market data. Don’t shy away from adapting to new methods, especially technology, to help you become more productive. There are many benefits of upskilling yourself, including the following:
- Deliver more value: You can make long-term clients by becoming more efficient and delivering more value.
- Discover more opportunities: You can explore better opportunities and niches and tap into them to increase your revenue streams.
Give Gifts to Closing Clients
Giving closing gifts to your client as a token of gratitude is an excellent way to increase your credibility and retain the client. Custom promotional items and branded items are a good place to start. The purpose of these gifts is to end on a high note, leave a good (and lasting) impression, and potentially generate referrals. Closing gifts don’t need to be expensive, but they should be memorable. Here are some ideas to get you started.
- Gift Cards: Gift cards are a great way to ease the financial pressure from your client as moving houses is quite an expensive procedure.
- Framed Map: A framed map of the town they have moved to can also offer great value, and your client can make good use of it.
- Gift Baskets: A customized basket of different items such as chocolates, beverages, and snacks can make your client’s day.
Build Your Brand on the Internet
All real estate agents should have a strong digital presence. Many clients spend a large part of their day searching the web for every real estate problem they face, including buying and selling houses. You can use the internet to your advantage by using the following platforms:
- Social Media: Social media channels have come a long way over the years. They are essential for you to build trust and credibility among customers. You can run marketing campaigns on different channels to promote yourself and offer exclusive discounts to attract potential clients.
- Websites: Having a website lends you credibility among customers. You need to keep it up to date to offer value to your clients. Websites are a great way to tell customers what your business is about and how they can contact you.
Build A Trustworthy Network
Communication is key when it comes to building a successful career in real estate. It would be best if you were prompt and polite when replying to customers’ queries and willing to go that extra step to win them over. You also need to be active in different states and areas and network with fellow real estate agents to get referrals and expand your client base.
Put In the Hard Work
There are no shortcuts to success, and you will need to put in the hard work if you expect to become an expert in the real estate market. If you wish to succeed as a real estate agent, you need to get out of your comfort zone and have a can-do attitude. With effort and patience, you can easily have a successful career as a real estate agent.