By Bob Tan
7 July 2018 17:15
The general perception of being an agent is a mixed one. There is glory and success to be had as portrayed by the more successful real estate agents who are seen with nice clothing and expensive cars. But how many agents are that successful? Most people who dealt with agents would have a negative view on agents as people who are there to earn their money. However, that’s not true as agents are important to ensure that all property transactions can proceed smoothly. They can be mediators in the negotiation between buyers and sellers so that both parties get the best deal possible.
Nevertheless, there are some overly persistent and unethical agents in the industry. Because of this the overall reputation of agents are affected. Here are some insights for real estate agents
One of the biggest challenge in being an agent is rejection. During the entire career as an agent, most agents will face rejection from clients. Sometimes these rejections come in harsher than it needs to be from clients, their call gets slammed or they are yelled at or scolded by eccentric clients. Any agent worth his salt will be able to tell you that you cannot become scared of rejections to be successful as an agent. It is paramount that an agent never gets demotivated or begin to fear rejections as it is almost part of the job scope. What they need to do is learn why they were rejected and improve from there. Aside from eccentric clients, there is always a better way to propose the deal and have it closed. The only mistake one can make when being rejected is not learning from it.
When proposing a property to a potential buyer, its important to have confidence. As when you are confident in your own product, your clients will be confident in you too. How does one build up this confidence? They must have absolute familiarity with the property they are trying to sell. They need to know the pros and cons of the property. Many agents will argue saying why would is there a need to let the clients know the cons when they are trying to sell the property. Technically you don’t, but you do not want to be caught unprepared for the client’s questions about the con. It will not only make you look unprofessional but also unethical for knowing a problem yet still trying to sell it to them. Sometimes honesty can build your reputation, and even if they do not buy that current unit or property, they are more likely to trust you on the next one.
While most home buyers are mostly one of purchases, investors are the long-term relationship agents need to keep. Investors will be more willing to purchase from a reputable agent that they had a good experience with. They are also more likely to refer that said agent to other investors as well. Reputation is not built overnight and its not easy to maintain. One small mistake due to greed can cause you to lose everything you built up to. It becomes very important to understand what the client want and need. They need to be able to match a client’s preference with the best property in the listing they have. It’s also important to know when they do not have such a property instead of hard selling something the client doesn’t want.
Teamwork is Sometimes the dreamwork
Its important to also work with the people you are with, for example in the same agency or team. When you do not have a particular property that you have a buyer for, its important to build a connection to make that deal happen. Co-broking with someone else who has the property might be a better idea than trying to search for it on your own for slightly more profit. Who knows how long the client is willing to wait on you. Its better to share the profit now than to potentially make no profit in the future. Of course, this is not the most popular opinion but a viable one nonetheless.
Having a positive mentality never hurt anybody.
One must also be able to have a positive mentality and behavior most of the time. Its alright to be demotivated after a failed deal, but you must get back on your feet as soon as possible. Constantly try, and never take the easy route out by blaming others. Others maybe the cause for your first failure, but the second time will always be your fault.
“Fool me once, shame on you, fool me twice shame on me.”
Sow hard work before reaping rewards
It is hard work being an agent and one must sow the seed before reaping any reward. Agents are perpetually on the clock, running around meeting clients and gathering property to list. Even after a long day of travelling around they still need to upload their listings and photos online at home. You must have a solid foundation to continue in this line of work. Slowly but surely there are some profits to be had, because in this competitive industry, most agents will eventually become elites at what they do.
“Rome was not built in a day. Success will only be dream for the lazy.”
This article was written with input from Jasen Kong and Evie au from Vivahomes realty.