Being a real estate professional in a country like Sri Lanka is no easy task. The industry is competitive with multiple agents and many properties but fewer takers. Most strong-willed personalities survive but others last not more than a year or two. Real estate is a tricky business and you have to be on your toes all the time. Below is a list of competencies to be a champion real estate agent.
Speed is Everything in Real Estate
Do you want to sell anything to anyone? Then you got to be quick, you got to be fast because you are competing with every other salesman out there and they all want to capture the client before you do. Your intent has to be set, right from the word “go”. You have to start your day early, make plans quickly and act fast in order to implement them – your mind should work like the wheels of a train. You need to think fast and jump at the opportune moments in order to secure the sale. Any customer would prefer to work with a professional who is fast in responding and attending to their requirements. The same is true for the real estate professional.
Strong Communication & Negotiation Skills Are Vital
Communication is everything in the 21st century. Being able to comprehend what is said to you, both verbally and non-verbally, and then process that in your mind in double quick time before responding is a vital skill. To create a conversation out of almost any line or sentence thrown at you is key in real estate marketing. Champion agents are great communicators!
A vivid distinction has to be made between a good talker and a good communicator. A good talker is someone who can merely speak and keep their mouth continuously moving but they’ve lost the interest of their audience. A good communicator will communicate with precision and ensure that things get done while building a rapport and engaging with their audience. A good communicator makes things happen unlike the talkers who are mainly good at just that, talking. Customers communicate for help to solve their problems and to receive solutions.
When negotiating, understand where the balance is. It is key to know who has the upper hand, what is at stake for whom and then plan your move and play your cards accordingly. Negotiating is not everyone’s cup of tea and it is a very fine art that takes years to master for many. There are respectful and classy ways to negotiate and then there are also cheap and unethical methods.
Relentlessly pushing to reduce the price, giving the silent treatment in hopes of bringing down the price and being vague with your expectations are a few methods used by many professionals. However these tactics are unpleasant, unethical and many times leave one party unhappy with the outcome. In a worst case scenario it could even backfire on the person using these tactics and result in a lost deal.
The champ knows to negotiate in ways that you don’t even feel that he has negotiated. Being clear with your expectations, building a warm and friendly rapport with the person you are dealing with and being reasonable with regards to price reduction is a much more conducive and ethical way to negotiate.
Problem Solving Using Common Sense
Not every problem has a thesis and theory that you can refer to. Some problems require common sense – just basic common sense. This is not a skill that can be taught in school or taught by anyone at all. It is something that has to be acquired with age, time and experience.
Real estate demands accurate information when communicating and quick actions. Sometimes, it might only have to do with a few phone calls or emails to the right people. Problem solving becomes so much easier when you can communicate with amazing accuracy. Easy, less time consuming, and result oriented, however, common sense is becoming more and more uncommon nowadays. To help improve your level of common sense, you have to be in the present moment and focus on the situation. This will greatly help to harness your ability to think with common sense.
Awareness of the Laws Surrounding the Property Deal
All the hard work in finding the client, getting the ball rolling, marketing, pitching to the client and all the steps eventually lead to the paperwork and legal affairs. The champion real estate professional knows almost everything the property lawyer knows and does with regards to property law. The champion real estate agent ensures that he understands the nitty gritty, details and fine print of all the paperwork involved in the property. The best real estate agents are even capable of noticing the lawyer’s mistakes on the paperwork and rectify them before the deal is sealed. Every deal is different and legal technicalities that might work for one client/property might not work for the other. Foreseeing the possibilities for every legal clause, knowing when a legal route is best for a client and communicating the same with all parties is another fine skill that is important to muster. To sell a property, you must know the rules, the do’s and don’ts and the consequences. This might mean the difference between a smooth real estate transaction and a disaster that ends up in court or at the police station.
Being a People’s Person
Real estate sales and marketing is all about knowing who’s who. If you are a people’s person and you know somebody’s someone and can get things done just by making a few phone calls and connecting with people, you are the champion real estate agent. Agents draw positive energy when they meet people and network. It is something they naturally enjoy and it does not feel like a burden to them. When they meet more people, more windows of opportunity open up and these opportunities then turn into prospects, leads and eventually convert into customers.
Bonus Tips on How Champion Agents Think
1. They don’t think of the money! The priority is the service and to get the job done for the client. If the client is looked after and satisfied, then the money will come. Most agents fail terribly by thinking of the money first, when in fact the money is the by-product of a good service.
2. The champion agent is always focused on the client. Their goal is to earn trust, build a relationship with the client, not disappoint them, own up to any mistakes and make sure the client is happy. Establishing trust is a key part of a good agent’s approach to clients.
3. Champion real estate agents don’t care about competition – they are only focused on bettering themselves. They are concerned on how they can improve their skills and provide a better service to help their clients. The competition is irrelevant to them. So don’t think of who is doing what, just focus on your work and how it can make your clients happy.
A good real estate agent is an epitome of happiness to their clients and they create relationships that last a lifetime!
To join us and become a champion real estate agent, get trained by our team of professionals. Send an email to us by expressing your interest to join and become a champion among champions. Write to careers@mistert.lk for more details.