What are the essential skills to be successful in Real Estate?
As a Real Estate Agent you would be doing all of the roles that you relied on others to do when you were in another profession: research, prospecting, advertising, lead generation, marketing, sales, Web design, social media posts, bookkeeping, scheduling, writing a contract. Sometimes you need to be an Interior Designer to show your clients about decorating, give them ideas how to position furniture.
The real estate profession changes every day. Today you might need more technical skills than ten years ago. So what are they?
The National Association of Realtors® new research report surveyed Realtors® about important skills to possess to be successful in real estate. People skills (86 percent), self-motivation (84 percent) and negotiation skills (73 percent) ranked as the most important skills in residential real estate, while negotiation skills (69 percent), problem-solving skills (63 percent) and analytical reasoning (62 percent) were viewed as the top skills for commercial real estate professionals.
These skills that the majority of Realtors® identify as an important are not any new flashy marketing plan or social media technique. As technology rolls forward, yet the underlying skills are always the same.
The most important skills to be successful in Real Estate
The successful real estate agents are good with people and know how to communicate the interests of their clients. Real estate is a people business. Good communicators understand how much and how often to keep in touch. Are you a good listener? Do you have the people skills?
While the work situation allows job flexibility, real estate agents work independently and therefore, require a lot of self-motivation. It requires agents to develop a high level of motivation to lead generation and take training courses, to get things done.
The negotiations start once the seller receives a written offer. Since everything is negotiable, agents for the buyer and seller go back and forth in writing, whether that communication is via email or signed forms. There’s a constant negotiation until you actually close the deal.
Problem solving skills
You need to be able to identify complex problems and review related information to develop and evaluate options and implement solutions. This also includes being a mediator between sellers and buyers.
Being a real estate agent, especially commercial real estate professionals, requires Analytical reasoning skills to effectively and timely identify viable investment opportunities which meet the long and short-term goals of multiple investor clients.
These 5 skills are timeless. Regardless of how your market is performing, you’ll succeed in real estate if you can master these essential skills. These skills will be the difference between a good agent and a great one. Keller Williams Realty provides an industry-leading curriculum addressing every aspect of success in real estate. The fundamental skills taught in Keller Williams Ignite Course are valuable to real estate agents at every stage of their careers, not just the new ones. Multimedia training is offered online via KWUConnect, so the skill-building tools you need are always ON.