Earning your real estate licence is an exciting accomplishment, marking the beginning of a fulfilling new profession. However, your real estate education is far from over, as the best realtors continue learning, developing and progressing throughout their careers. Maintain your professional development by following these five important tips:
Your colleagues will have years of real-world experience, providing them with a wealth of knowledge on everything from building up a network of contacts to negotiating offers. You may wish to ask a respected colleague to act as your mentor. A mentor can guide you through the first months by providing you with an example of how a successful realtor operates, answering your questions, and giving you a realistic view of your progress. At the Engel & Völkers Academy, all our realtors are given extensive practical training to ensure that each employee feels fully confident handling any and every aspect of the business.
Create a business plan
Once you feel more familiar with the practicalities of being a working realtor, it’s time to set some goals for the future. Make sure that each of your objectives is ‘SMART’; specific, measurable, attainable, realistic and timely. If your ultimate goal is to work in a particular niche of the market, such as luxury or period properties, plan out how you can gain experience in those areas. You’ll also need to set a monthly budget, including marketing in your expenses.
Building a network takes time, so start by informing everyone in your address book that you are now a qualified realtor. It’s best to do this in a personal manner, such as by telephone or with a handwritten letter. Recipients will remember the effort you made to contact them and will bear you in mind the next time they are looking for an agent or asked for a recommendation. Order professional business cards and never leave home without them; you never know where you might encounter a potential client.
It’s natural for new realtors to make occasional mistakes along the way, but tenacity is the key to success. Remember to treat each disappointment as a learning experience – understand that you have discovered that something doesn’t work, and use it to find out what does. When something goes well, remember it and repeat it next time. Learning this way will strengthen your instincts and ensure that you continually develop your skills.
Study the area
Invest your time in learning about the different neighbourhoods and properties in your chosen area. The more authoritative you feel in discussing local amenities, price points and property styles, the more confident and trustworthy you will appear to prospective clients.
As a new realtor, one of the best steps you can take is to align yourself with a globally-respected real estate agency, sharing in the benefits of a recognisable brand name, a community of experts and an extensive training and development programme. Engel & Völkers is a world-leading agency with offices in 39 countries, and has a well-earned reputation for excellence. To find out more about the training we provide or to search for current vacancies, visit E&V Careers.