On the surface, it often seems to the average person that a real estate agent has an incredibly flexible job. When you only see them sporadically, the unseen tasks can often go without recognition. Real estate agents are familiar with back-to-back schedules, and many work on the weekends.
A Week in the Life of a Real Estate Agent
A lot of a real estate agent’s career success hinges on the work they put into it outside of the regular job description. We have over 16,000 agents in Alabama, making it an incredibly competitive field. To get ahead of the competition, real estate agents in Alabama must implement weekly tasks that improve their chances of success on top of their regular work.
Networking is Key
One of the best ways to improve your chances of success is to network. Learning from more experienced agents, brokers, and sellers will provide you with tips and tricks that rival any textbook. Building your network each week will provide you with more connections that could help you down the road.
Most older and more experienced agents are happy to help and pass on knowledge. Find someone you admire or know with a great reputation and ask them for a meeting. Come prepared with questions and open ears.
Attend networking events and make casual introductions. A friendly face is rarely unwelcome; if you can positively impact your peers, that can open a lot of doors.
One thing to keep in mind, if you want to receive help, you must also be willing to give it. By helping others, you’re not only building relationships and creating meaningful connections, but you’re also showing that you care and are willing to put in the effort. Ultimately, the more help you give, the more help you will receive. Always try to be available and helpful when you can.
Maintaining Client Support
In the same spirit of networking, ensuring that past, current, and prospective clients feel supported can boost your reputation. Respond to messages from your website and social media, send out newsletters, follow up with leads from the last week, update listings, discuss needs and concerns with current clients, host open houses, etc. to increase your presence in the community and satisfaction with clients. If you invest in your clients, they are more likely to refer you to their friends. If your reputation in the community is good, then the leads will start coming to you.
Improving Negotiation Skills
One of the main skills of a real estate agent is negotiation. As an agent, you set list prices, and negotiate contract terms and property prices. With practice and experience, you can score the best deals for your clients with little resistance from the other party. This is another area where connections help. Knowing how experienced agents approach deals and getting advice from them can help you approach the table more confidently earlier in your career. In the meantime, here are some general guidelines to be aware of:
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- Every client will have something they don’t like about every property. Keep their needs and priorities in mind while also managing their expectations.
- Be knowledgeable of current market conditions and learn how to change your approach in each phase.
- Communicate everything, even if you think it is common sense. Those with experience can be blind to first-time home buyers’ inexperience and confusion. Always be open to all questions.
- Be prepared to compromise when faced with counteroffers.
- Always be professional and act with integrity. Few things will ruin a reputation faster than acting out in anger or bad-mouthing the competition.
Selling and Searching for Properties
Real estate agents in Alabama rarely only sell or search for properties. Each week, agents work with a mix of buyers and sellers and must be well-versed in how to best serve each one. In both roles, your job is to get the best deal for your client.
If your client is buying, then you will need to dedicate a good chunk of time to search for the best properties that fit their budget, lifestyle, and preferences. Once a property is selected, you’ll negotiate the selling price, process papers, and close the deal.
If your client is selling, you’ll bring their property to the market. Set the selling price, negotiate the sale with buyers on behalf of the seller, process paperwork, and schedule the closing.
Continuing Education Requirements
Real estate agents in Alabama are required to renew their licenses every year. This includes a fee and 15 hours of continued education credit (split into 6 hours of risk management and 9 hours of approved courses). This is the bare minimum, but many agents take additional programs and acquire more certifications. By having more credibility and boosting education, your reputation gets a few bonus points and could give you the little bit extra you need to surpass the competition.
Crest Title Company
Take ownership of your career! Being a real estate agent can be incredibly rewarding. Not only can you work towards financial independence, but you can also increase your client satisfaction. Real estate agents are in the business of providing homes, and a client happy with their home is a reward in itself.
At Crest, we provide real estate agents in Alabama with exceptional title and settlement experiences. We assure customer satisfaction by working with integrity, knowledge, and commitment to the customer. Contact us today to learn more.