Relators work in one of the most interpersonal fields there is. As such, realtors need to use certain skills to help them land clients and make sales. Many different types of people have found success in real estate, and you’ll notice they all have certain skills in common.
These are the skills needed to be a realtor with success, especially with all the competition out there. Since real estate is a job that relies on commissions, having the right skill set is important if you want to make money. Here are the six important skills needed to be a realtor:
1. Communication Skills
The best realtors have excellent communication skills, which is very important since realtors are constantly communicating. Realtors need to be able to pick up on the communication style that works best with their clients.
For example, a couple in their late twenties will need more clarification and explaining than a seasoned older couple who is looking to purchase their third home. When the going gets tough and clients become frustrated, realtors need to know how to communicate to keep them happy and reassure them everything will work out. Realtors need to possess assertive communication and not get defensive.
Good communication skills also mean good listening skills. Realtors need to listen intently to their client’s wishes, or they risk presenting them with homes that they’re not interested in. This will only lead the potential homebuyer to frustration, and they may start doubting if this realtor is right for them. If you’re new to real estate or want to brush up on some skills, make sure communication is at the top of your list.
2. Negotiation Skills
Negotiation skills are an essential part of a realtor’s toolkit. Realtors work hard to satisfy their clients’ individual needs. It makes sense that they need to have their negotiation skills in tip-top shape to negotiate on behalf of their clients. Before negotiating, a realtor needs to establish what it is their client is looking for by asking enough questions to find out the primary objectives and goals of the buyer and seller.
The most skillful realtors avoid narrowing negotiations down to one issue, like the price for example, because this allows for one winner and one loser versus both winning. Realtors need to make all parties feel like they got what they came for.
No one wants to deal with a realtor who does not show up on time. Since a lot of house showings are crammed into the evening hours after a traditional workday, or on the weekend, time is valuable. Time management is critical to the success of any realtor.
Whether it’s meeting clients for the first time, or sending paperwork promptly, realtors need to make their clients happy by being on the ball. This is especially true since things can move quickly in the real estate business, so timeliness is one of the most important skills needed to be a realtor.
4. Local Knowledge
Buying a house is one of the biggest (if not the biggest) purchases you’ll ever make. Naturally, people will want someone who is well versed in the local area. Realtors need to know where the best schools are in any given neighbourhood, where transit stops are, local bus routes, shopping malls, you name it, a realtor needs to know it. Having all this knowledge will quickly show clients that you’re looking out for their best interest and that you can be trusted as a valued, knowledgeable professional.
In the field of real estate, honesty is so important and it’s absolutely one of the most critical skills needed to be a realtor. Clients want to go with a realtor who is not only honest but demonstrates integrity. Realtors need to uphold ethical practices so they can make a name for themselves as someone trustworthy. Since a lot of referrals are word-of-mouth, a realtor’s reputation is extremely important. At the end of the day, the client is most important and it’s the realtor’s job to make sure their clients are happy.
6. Problem Solving
Since the process of purchasing or selling a home can run into lots of snags, a realtor needs to have fantastic problem-solving skills. For example, a client could want a home with four bedrooms in the city, but this might be way out of their budget. It’s a realtor’s job to educate the client on the market and show them why this may not be possible.
If the client agrees, the realtor can show them a property a bit out of the city but that has four bedrooms and is within their price range. It’s all about looking at the situation with a good attitude and persevering until you’ve worked through all the problems and the client is happy.
As this list demonstrates, there are many skills required for realtors. They have a big job and as such, need to possess a wide variety of skills.