Real estate agents are in a constant game of self-improvement. There’s always a house that refuses to sell, a client who won’t accept a great deal, a goal that hovers just out of reach. The difference between a good and great real estate agent lies in striving to improve yourself in every way possible. These four mistakes are so common, so easily overlooked, that they affect agents at each level of the industry—get a leg up by overcoming them.
1. Neglecting Teamwork
Real estate may be competitive, but that doesn’t mean you can’t use others when it benefits. Rule of thumb: the larger the deal, the more hands there are supporting it—especially when you get to higher levels of the game. As agents mature, they tend to specialize in certain parts of the deal-making process. Hang onto contacts and do people favors. It might pay off when you get to call in the best purchase offer drafter, open house stager, or house tourer you know.
2. Failing to Communicate
As a real estate agent, you deal with people. Embrace this and thrive; shy away and you may notice deals falling apart. Think about it from a client’s perspective: this agent is helping you with one of the biggest investments you’ll ever make, and you have to wait a week to hear from them about it? 100 percent of respondents to a Contactually survey said that agent response time was important to them.
3. Refusing Change
Most real estate agents fail. One reason why: they refuse to accept change. Five years ago, it wasn’t the case that 74 percent of sellers found their agents through social media. Imagine trying to stick to billboard advertising nowadays—you wouldn’t stand a chance. Research consumer trends and changes in technology. Be the first to adapt and you’ll have a leg up.
4. Losing the Big Picture
You are your business. A real estate agent isn’t necessarily there to close every single sale. Concentrate too much on one thing and others can fall by the wayside. Success and longevity in a tough industry won’t come from fixating on every three-star review or difficult conversation. Success as a real estate agent requires learning from your mistakes.
Keep your eyes on the prize, agents. Identify areas where you need to improve and take any necessary steps. Good luck out there!
Manhattan-based Tocco Group wants to help you take your real estate business to new heights. They can handle every aspect of real estate brokerage, from renovation to marketing. Bring in 30 years of real estate experience when your sale needs that extra push—call them at (212) 544-2995 or visit their website.