Who is the successful REALTOR®?!
The most common misconception about the word REALTOR® is that it means a real estate agent agent. But the truth is it is so much more. In order to become one, the licensed real estate agent, needs to receive additional education and go through mandatory training to become a member of the National Association of REALTORS®. Another important fact, a REALTOR® is held to a higher ethical standard than a licensed agent and must adhere to a Code of Ethics. Some REALTORS® are brokers, while some are agents. One more fact, the word REALTOR® itself is actually a trademark!
THE SUCCESSFUL REALTOR® FROM CLIENTS VIEW
As far as clients concerned, the successful REALTOR® is a mirror image of the ideal agent the real estate customers expect and want to work with. In other words, a professional in his field. Just like the perfect doctor, plumber or taxi driver. We expect the taxi driver to take us to our destination quickly, safely and for an adequate fee. From the plumber, we expect that they are qualified to fix any plumbing issue we have, quickly complete the task and be polite. As for the doctor, we expect them to be able to gather information of all and any symptoms, give an accurate diagnosis, and suggest the best course of treatment.
From customers’ point of view, everything is very simple. The successful REALTOR® is first of all, an ideal real estate agent who can strike a deal within two weeks from contact. Secondly, they can instantly solve any problems. And thirdly, they accept minimum commission. Sounds great?
EXPECTATIONS VS. REALITY
In reality, such a combination of qualities is difficult to find, if not impossible. Preparation for a deal, no matter how prompt the REALTOR® is, can last from a month or more. If only we could snap our fingers to send troubles away. Unfortunately, not all problems can be solved in a couple of days. And finally, a real professional appreciates their time, effort, and will not work for free. Actually, more often the ones who agree to a lower their commission, and/or guarantee a quick deal with little to no problems, can turn out to be an amateur without real commitment or knowledge, or even in some cases, just a fraud.
Therefore, it is essential for REALTORS® to explain the process to their clients. Emphasize their value and their work. Show that a REALTOR® is a valuable resource and not just a sales pitch.
REQUIREMENTS
People trust a REALTOR® with one of the most important issues in their life. Therefore, the requirements are high. Reliability, attentiveness, correctness, punctuality, high ethical standards and most of all REALTORS® should be able to understand any intricacies and nuances of the process of buying and selling real estate.
REALTORS® are required to have an in depth comprehension of the market situation, and be able to explain market analysis reports with simple language. To competently negotiate at any level, clearly explain and advise every step of the transaction, promptly solve all and any arising problems. As well as, actively defend their clients interests and ensure the security of the transaction.
But probably the main thing, would be to quickly find the optimal solution when buying or selling real estate at a price that suits the client. And of course, accompany the transaction until the deal closes and the transfer of ownership takes place.
COMMON TRAITS OF SUCCESSFUL REALTORS®
Perhaps, I could add that successful REALTORS® are distinguished by a special trait. Their attitude to failures! Which alas, are inevitable. They see failure as a chance to gain valuable experience. After all, there is no such thing as a wasted viewing. Because even if the buyer abandoned the deal, this is still an opportunity to broaden professional horizons.
In addition to all of the advantages above, there is one more quality that is very important for the client. Availability! A REALTOR® should always be available and keep in touch with their clients and customers. This means that whenever someone calls, they can almost always get through. Besides, a good real estate specialist delivers the latest news, even when the desired results are not yet available. Clients definitely do not like to feel abandoned.
FINAL THOUGHTS
In my opinion, the profession requires a very high level of self-organization. Because the ideal REALTOR® should be mobile, responsible and ready to work hard, as well as be knowledgeable in fields such as time management and modern technology.
And last but not least, intuition! The real estate market is sometimes like a field of miracles, and without a “sixth sense” it is difficult not to get lost in it. What I probably should mention here, is that every successful REALTOR® as an entrepreneur started their path as a mentee. Listened to their mentor, learned from them and worked hard. Developed their skills and along the way developed their sixth sense in their field.
In general, no matter what a person does, in order to be successful, one needs to love their job and enjoy their work. Only then, a person will strive to constantly improve themselves. After all, what really drives any of us is passion.
Check out these 7 practices to get your offers accepted here. And check out what homebuyers biggest challenges are and how to overcome them here.