5 Crucial Skills You Need to Start a Career In Real Estate

Many people are under the illusion that a career in real estate is like a paid holiday.

What’s easier than getting clients and popping a ‘For Sale’ sign in someone’s yard, right? Wrong!

A career in real estate is hard work and it can be your jumping board to success if you approach it in the right way. Selling one house requires determination, long hours, research, marketing, and financial savvy. Then you haven’t even started communicating with the owners!

Here are a few important skills that excellent real estate agents have in common:

#1 – They work well with people

You cannot become a real estate agent if you are not a people person. You don’t need to necessarily like all of your clients but you definitely need to get along with them.

If you don’t enjoy working with people, this industry is not for you.

The very basis of your job requires you to have a good relationship with your clients. Open communication is vital for the survival of your income. You are also going to have to socialize and build a network of connections. The more people you know, the wider your real estate network is. 

#2 – They are entrepreneurial

Everyone knows that there is no set salary in real estate. Your income is dependent on how fast you sell your next house. Even if you work at an established agency, you are always going to be your own boss.

Think of yourself as a business owner because you are an independent contractor. You need to manage your own finances and be on the lookout for new opportunities. Entrepreneurs are innovative and they don’t let anything stand in the way of their success. Real estate agents need to have that same gutsy attitude. 

#3 – They work flexible hours

Just like the salary, the working hours are inconsistent.

Flexible working hours are great if you need to attend your daughter’s prize-giving but they are horrible when you have to show clients an open house on a Sunday afternoon.

The 40-hour workweek might never happen for you unless you manage your time wisely. A good real estate agent knows and understands the importance of their clients’ time so unfortunately, that means you might have to give up some of your own. 

#4 – They carry the responsibility of selling the house

Your clients need to trust you. They are putting their biggest investment in your hands and if you make one mistake, they could ‘lose it all’. It is a huge burden to bear and one you have to accept.

There are many loopholes and legalities that you need to be aware of. There are many laws that you need to know like the back of your hand.

It can either be your time to shine and show the clients how much you value their trust or it could be a total disaster and dim your lights forever. You need to ask yourself if you are ready for this type of responsibility. 

#5 – They wear many hats

In fact, sometimes they have to juggle them! One moment you are a financial advisor and the next minute you are playing a salesman. This means that your work is never going to be boring.

You are going to meet overconfident sellers who think their homes are worth a fortune and you are going to meet nervous buyers who need the motivation to purchase a home. You need to think on your feet and be quick with your responses. One wrong word can potentially cost you the sale. 

Real estate agents experience a lot of highs and lows but they also reap the rewards of their hard work.