Every real estate agent, regardless of where they are in their career, started as a beginner. With time and experience, habits practiced over and over ultimately affected the outcome of business. These habits—the fundamentals—have a huge impact on production. While many agents favor the easy road—the “three easy payments of $19.95” mentality, promising minimal work with big results—they rarely see the reward.
When you stick to the fundamentals, however, you contribute toward a strong foundation for your business that will help it withstand the toughest of challenges.
The Basic Fundamentals of Real Estate
An effective real estate agent embodies several key skills. Selling and negotiation are the big ones, but there are also other, more subtle skills that comprise a solid business regardless of industry. Stellar customer service, intentional listening and relationship-building are three examples of soft skills that are easy to lose touch with as your career grows. Avoid going through the motions in your business—rather than working tirelessly to figure out where your next lead is coming from, commit to mastering the fundaments of a real estate lead generation system.
At its core, real estate is a relationship business. It’s building relationships with your clients to help them reach their home-buying or -selling goals. These relationships will become the foundation of your business. Don’t disappear once the transaction has closed, as many agents do. Instead, you keep in touch and find ways to serve them and show your appreciation for their business.
While this may seem like a lot of work, the process will actually take you less time than cold calling leads. (You’ll also get to work with folks you actually like, which is always a plus!) Investing in relationships as a real estate professional leads to more referrals and a stronger business overall.
Skill-Building for Lasting Success
To serve your clients better, it’s crucial to continuously improve your real estate skills. Develop these skills, and you’re sure to boost production. There are two major ways to go about this:
- Practice – Whether it’s negotiating for your clients or nailing your elevator pitch, practicing is key to continued success.
- Training – As a busy agent, it is easy to let learning fall by the wayside. While it may seem like you already know everything, training is crucial to constantly adapt your skills in an ever-changing market. This is how you can recommit to the fundamentals of your craft and better serve your clients.
Real estate is a craft, and in order to master it, it’s vital to become a lifelong learner, whether you’re new to the business or a seasoned pro. This year, commit to becoming a master in your real estate career. Review the fundamentals of a strong business strategy and build out your skills in those areas. Seek out continuous real estate training and improvement. Your business will thank you!