We’ve all seen all those terrific movies with real estate brokers as rich as kings. And probably all of us imagined ourselves being realtors when we grow up! Because we wanted to be wealthy, with all those good cars, expensive houses etc. But what we didn’t get as an information is are all the realty agents that rich. Or what real estate agents do. That’s not what movies are about. They are here to entertain us and make us feel good. And imagining yourself as a rich estate agent is a great thing! But we’re not here to discuss movies. Now that we grew up, or at least we should, we’ll get to know the secret. We’re writing this article about what real estate agents do.How their ordinary day at work looks like. And what their keys to getting wealthy are.
Unveiling what real estate agents do
If you want to purchase a property, you’re looking at the listings. Or you’re contacting your acquaints to get the recommendation. Otherwise, you’re just driving around hoping that something will come up. But if you want to find a really good real estate to invest in- you’re gonna hire a realty professionals. They are educated to put together those searching to buy good property with those selling them. But, what real estate agents do is using good real estate opportunities. It means matching realty buyers with sellers. Here’s an example of an ordinary day in a life of real estate broker:
- Administrative tasks- Calculating the budget, checking emails, updating social networks, looking for listings and jobs like that
- Finding new clients- Real estate buyers and sellers are those earning estate broker’s money
- Keeping current clients- Not losing clients realtors have is as important as finding the new ones
- Looking to improve- The things real estate agents do are never enough, as real estate market is constantly growing and improving
- Meeting with clients and other agents- The job of realty broker is always challenging and changing, so they need to keep up
Here are the usual everyday administrative activities of:
- Arranging the schedule for appointments, open houses, meetings and showing. Without this, every day in realty agent would be a mess
- Calculating budgets for weekly, monthly and quarterly activities. A real estate agent needs to know how much money he/she has for various kinds of attracting clients.
- Inputting data- Everything the real estate agent collected during previous day needs to be put into the safe place, so it wouldn’t be lost
- Making plans for marketing activities- How to improve drawing new clients
- Doing the research on every kind of listings- active, pending or sold. Every information is very important, being that the information make the distinction between successful from unprofitable real estate agents
- Checking and responding to emails and missed calls
- Updating social networks, being that they are important source of new leads
An estate broker needs to create leads. What does it mean? Well, the lead is the contact that might be useful to the real estate agent. Now or in the future. That’s the contact of a person interested in buying or selling real estate. And that’s what earns money to a real estate agent. But what real estate agents do to get leads? The commonly used tactic is SOI (Sphere Of Influence). It means getting leads through personal contacts. Such as family, friends, neighbours, former and current colleagues, acquaints etc.
The fact is that almost everyone buys or sells real estate at some point in their lives. So all you need, as a potential real estate agent, is never lose any contact you get. It doesn’t matter if you’re close or not. Every phone number, every email may be a potential lead. Some other ways are over the internet, in the newspaper, on the tv etc. You’re looking for listings everywhere.
Maintaining current clients
A real estate agents must never lose any of their clients. Especially if they help someone sell or buy a property, and he/she is satisfied. Because they start to believe the realty agent, and the realty agent starts to earn money cooperating with them. As the trust grows, the income from those clients will grow too. But estate broker needs to keep contact with those clients. Call them every once in a while (not too often, because it’s counterproductive). Offer them some great deal real estates, ask them if he/she might help them in any way etc. That sort of conversation makes them be aware of a certain real estate agent’s presence.
Also, they’ll feel that someone really cares about their needs. Which real estate brokers do. The fact that it’s what real estate agents do doesn’t change it. A tip here for the real estate agents to be is not to keep the contact sloppy, or obviously just for keeping it. Good real estate agents must show to truly care about what they ask. If the voice creates the least piece of a doubt at the client’s head, a realty agent’s almost surely gonna lose them.
Learning new things
If you thought that the sales and things connected to it are what real estate agents do, you’re so wrong. The real estate market is so much different today than only twenty years ago. And it’s now changing faster and faster. That’s what real estate agent must constantly learn. The self-education is the best way to keep up with all those changes. The one that does that the best is the winner. So if you want to become a realty agent, you need to prepare for everyday learning, for a lifetime. Or at least for the part of a lifetime you’ll spend selling the property.
What real estate agents do in the end- meet with clients to earn money
So this is, some would say, the most important part of the real estate agent’s day at work. And partially it is. I mean, it is important to make the sale. But it’s also important to have another appointment scheduled for the other days, so you’d have new clients to earn you money. Nevertheless, when it comes to the meetings, you need to respect the schedule. Which you made suitable for your clients. Being that their time means your money, so you need to fit in their daily schedule.
Another kind of meetings real estate agents have are those with their colleague agents. Being that all the realty brokers have listings, so they can share the information. Sharing the profit too. That’s some kind of a win-win-win situation. You win, your colleague wins, and the clients win too.
In the end, it’s important to mention that these are just some of real estate agent’s daily activities. And they never are at the same time. Because you never know when your client might have the time for an appointment. Or what time a realty broker needs to show some real estate. So this is what real estate agents do, but certainly, this isn’t the exact order of activities. At least not every day.