Getting started as a real estate agent may be challenging, especially is have no prior marketing skills; this, though, does not limit you to become a successful realtor. Education, planning, and a good strategy are all that are needed. At the onset of your journey as a realtor, you will have to decide whether to be a solo realtor or join a team. A solo realtor means that only one agent is involved; a team consists of realtors working together to make more sales and give better service. Let’s dig deeper into the two options.
Starting as a Solo Real Estate Agent
A solo realtor works single-handedly with the buyer or seller from start to finish of a sale. Some realtors brand themselves as a solo while having a team behind them that oversees every transaction. These could be realtors from a team presenting themselves as solo agents. Some clients prefer dealing with one person throughout the sale; it should be clear if they will encounter other people.
Solo realtors must set their strategies, develop marketing ideas, and do all the paperwork by themselves. They also use CRM (Customer Relationship Management) to help them give a better service to their clients.
Advantages of a Solo Realtor
Clients prefer dealing with one person whom they can trust, especially when discussing financial matters. It is also easier to build a relationship with a single person. A solo realtor also takes full responsibility for the project; they handle every process with keenness to ensure nothing goes wrong.
Cons of a Solo Realtor
A solo realtor can deal with more than one client, but they can’t cover a large area during marketing; their availability is minimal.
Starting on a Real Estate Team
This is a group of realtors who came together to maximize their service delivery. Team realtors do everything as a team; each team member contributes their expertise and skills to make a great team. The teams take credit for every achievement of their realtors. The team could consist of marketers, listing specialists, buyer specialists, among others. Every team had a leader known as the lead.
Advantages of Team Realtors
The biggest advantage of joining a real estate team is gaining experience from other agents, and having support in place to guide you through any portions of the transaction.
Great real estate teams have additional support like Admin staff, a Transaction Coordinator, and a marketing department. This allows an agent to focus on client service.
Cons of Team Realtors
The major con of joining a team is commission splits will be less for the agent compared to being a solo agent. Since bigger teams have more support staff, a larger portion of commissions will be needed to cover the cost of staff.
Below are tips for becoming a high-profile solo realtor.
Invest in Online Courses
Taking online courses is convenient; with flexible timings, you can participate from anywhere. These courses prepare you to become proficient realtors. The course is a bridge to get a license; you can only take a licensing test after you have finished the course. The courses have specializations, appraisals, broker licensing, foreclosures, and others.
Taking these courses helps you boost your confidence and enlighten you more about the real estate world than to lack answers.
Focus On Your Strengths
Don’t spend too much time trying to strengthen your weak points; instead, focus on what you can do best. For example, if you are good in sales and marketing, focus on bringing in new clients. This does not mean you should ignore your weaknesses; instead, look for strategies and other means to help you become productive even in your weak points.
Use Scripts When Making Calls
Sending pitches through cold calling is a good move; every call should be able to capture the client’s attention and trigger a sale. Cold calling is making a call to clients you think could interest your services or products. A script should portray confidence and detailed information to assure the client of your genuineness and interest in making a sale.
Be Patient and Diligent
Being educated, patient and diligent are the core values of a successful realtor. A lot of patience is required; the process is long and hectic. You must be patient with other parties involved, like the banks, inspectors, lenders, and even the client.
Create and Implement a Routine
Write down all your strategic procedures and follow them to the latter. This also helps in stressful situations; following your routine will enable you to make sound mind decisions. Your routine will help you stand out from the rest.
To become very successful, you need to form a partnership and build networks that will keep the clients coming in. You can look for connections in banks, professionals in home-based businesses, home builders, among others. Networking combined with good marketing and communication skills is a great recipe for success. Another source of connections is by being part of your local chamber of commerce.
Use of Technology in Real Estate
Realtors have turned to technology to help with efficiency and quick results. Below are some technological tools used by realtors:
- Wise Pelican: Whether you are a team or solo agent, real estate postcards are a great way to market yourself as an experienced Realtor. Wise Pelican specializes in real estate-focused postcards and make it easy to stay consistent with mailings.
- Matterport: This is a 3D tour technology used to generate virtual tours. This can also be used to take videos of the house you intend to sell.
- HelloSign: This service helps get e-signatures from clients instead of going through the hustle to drive to them. This service is paid for depending on the number of documents. The free version only caters to the first three documents.
- Speaking photos: Realtors use this feature as an illustrator; a photo is taken, and audio placed alongside it to describe what the picture is about.
- Yesware: This feature monitors your email delivery system and lets you know if the client has received the message or not. this service is free for 100 emails in a month, but there is also a paid version that monitors unlimited emails.
- Curb call: The service has a safety feature; a panic button in case they feel threatened. This feature connects buyers to houses and directs them to nearby agents, who receive notifications. When the agent accepts a buyer’s request to show them the house, an alert goes directly to the broker or the emergency contact to show the agent’s exact location.
Becoming a successful realtor has many benefits for yourself and others. The proudest moment of a realtor is when they see a client finding their dream home. Apart from fulfilling other people’s dreams, you will earn good money and work on your schedule. For a real estate agent, there is always a need to educate yourself further.