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Tuesday, October 20, 2020

C-Suite Advisory

How to Start Your Career in Real Estate Business?

There is huge money involved in the real estate business. If you have vision, passion, patience, and perseverance, you can strike it rich in the real estate business. You will have flexible working hours. You must have the right connections and work hard round the clock to attend clients and answer their queries.

As an agent, you are your own boss without reporting to others and not sticking to conventional 9 to 5 hours of employment.  However, there will be no security and fixed income regularly. At times, you get huge money or no money. It is like a ‘fortune or famine’ scenario. You must keep some reserve money with you to sustain yourself.

“To give real service, you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” —Douglas Adams

How to Start Your Career in Real Estate Business?

Start your real estate business as a part-time one. Do your regular activities and invest a part of your left-over time to pursue a career in the real estate. If you develop an interest and get an income, convert your real estate business into a fulltime profession. It is to test waters initially to find out whether you fit into this business. When you become confident of converting your leads into paying customers you can jump into it on a fulltime basis.

Real estate is an amazing career if you have the right attitude to work hard and add value to the clients and sectors. The money will come to you automatically when you serve your clients with care and attention. You must don several hats like a guide, informer, adviser, and well-wisher to succeed in this business. You must know this sector and update it regularly. You must attend real estate seminars, fairs, events, and network with other agents and builders to build connections. You must be in touch with them regularly. You must keep the brochures of the upcoming projects to show to your clients. All clients don’t buy the properties. One in 100 clients may buy the property. Hence, be prepared mentally that this business takes its own time and your career depends on the type of connections you build and the updated information you have.

Characteristics of Real Estate Consultants

Every profession needs specific requirements to survive in the world. Similarly, the real estate business has certain requirements to be successful. The real estate agents and brokers need specific requirements to be successful. In this regard, we will discuss the characteristics needed to become a successful real estate agent and consultant.

Real estate consultants must be ethical and lead by example. They must be knowledgeable and flexible. They must be emotionally intelligent to get along with various personality types. They must be smart to understand the expectations of each client. They must apply different strokes to different clients. There are no quick-fix solutions.

They must be able to understand the aspirations and expectations of the people and reciprocate accordingly. They must be transparent, ethical, committed, and punctual in responding to the clients. Above all, they must be patient and persistent. Not all clients will buy the property. One in a hundred may buy the property. Hence, they must not lose their cool and temper when clients don’t buy the properties. If there are any issues, they must attack issues, not individuals.

A satisfied client recommends to more clients. To be successful as a real estate consultant, it takes time and tons of patience. It is a gradual process. Here are some more characteristics of real estate consultants.

  • They must be effective communicators, skillful negotiators, and excellent networkers.
  • They must know the prospective locations and fluctuating prices.
  • They must be agile and active.
  • They must coordinate between various stakeholders including builders, buyers, bankers and lawyers, and auditors.
  • They must update knowledge regularly by visiting real estate exhibitions and fairs. They must have an open mind to network with others.

In a nutshell, here are some attributes of successful real estate agents: integrity, communication skills, networking skills, negotiation skills, knowledge, passion, patience, and perseverance. They must work under pressure and round the clock. They must keep compassion before the commission. They must be reliable and trustworthy. They must have thorough knowledge about the location, prices, demand, and supply.  They must generate a flow of leads and convert them into paying customers. They must be aggressive to close the leads by satisfying their customers.

The agents who think about the present will vanish from the real estate business forever whereas the agents who think about the future with a focus on customer care, attention, and satisfaction will survive forever. Hence, be passionate about your profession to make a difference.

Conclusion

“Buyers decide in the first eight seconds of seeing a home if they’re interested in buying it. Get out of your car, walk in their shoes and see what they see within the first eight seconds.” —Barbara Corcoran

Real estate moguls didn’t succeed overnight. They have put years of effort, energy, money, and time to grow as moguls. Hence, treat the real estate business as a marathon, not as a sprint. Invest your efforts constantly and consistently with an emphasis on customer satisfaction and delight to strike rich in this business.


Have you read?
World’s Best Countries For Education System.
World’s Best Countries For A Child To Be Born In.
World’s Best Countries For Its Citizens To Live.
World’s Best Countries For Cultural Influence.

Professor M.S. Rao, Ph.D.
Professor M.S. Rao, Ph.D. is the Father of “Soft Leadership” and Founder of MSR Leadership Consultants India. He is an International Leadership Guru with thirty-nine years of experience and the author of forty-eight books including the award-winning See the Light in You: Acquire Spiritual Powers to Achieve Mindfulness, Wellness, Happiness, and Success (Waterside Productions). He is a C-Suite advisor and a sought-after keynote speaker globally. His vision is to build one million students as global leaders by 2030. Most of his work is available on his blog. Professor M.S. Rao is an opinion columnist for the CEOWORLD magazine. Follow him on Twitter or connect on LinkedIn.