Imagine working for yourself in a flexible job where you can set your own schedule with the potential to earn a six-figure salary.
Well, you’re visualizing the lifestyle of a real estate agent. A career in real estate can be both challenging and financially rewarding. And there are many unique opportunities for anyone looking to work in this industry.
You could become a broker or appraiser, a property manager, or even an investor.
Whatever your choice is, it will all boil down to one thing: Do you have what it takes to work in real estate?
According to the experts, thriving in the real estate industry requires a unique set of skills including an entrepreneurial mindset and impeccable negotiation skills.
This article takes a deep dive into what it takes to work in the real estate industry:
1. People Skills
To succeed in real estate, you must exude relationship building skills.
Real estate agents are known to be enthusiastic and charismatic. Since the better part of their job involves negotiating deals and building relationships, being a people person is a must, as are top-notch communication skills.
The good news; these skills can be learned. There are so many books, videos, and podcasts out there, that are made specifically for people who are looking to improve their people skills.
Generally, you’re going to be communicating with customers, leads, vendors, and many other parties involved in a real estate transaction.
So, if you’re the type of person that struggles to get buyers to purchase, the real estate profession isn’t for you.
2. Leadership Skills
As mentioned earlier, the real estate industry offers many career opportunities. While junior roles, like a salesperson, may not require leadership skills, the higher-echelon roles—broker, property manager, etc will require these skills.
Leadership skills can come in handy, especially if you’re looking to become a broker.
As the leader of the brokerage, it’s your responsibility to motivate and inspire your team to achieve better results.
But how can you motivate real estate agents? One way is by recognizing and valuing their hard work.
According to a recent Reward Gateway survey, 75% of employees said a simple recognition from their managers would improve their motivation.
3. Love for Technology
Real estate is an industry that’s largely dependent on technology.
To succeed in this industry, you’ll not only need to have a knack for tech but also have access to the latest tools that are changing the property market.
Emerging technologies such as drone photography, virtual reality, and 3D modeling are shaking up the industry and you’ll need to keep up with these tech trends to stay relevant in the market.
4. Entrepreneurial Spirit
The best part of being a real estate agent is that you get to be your own boss. But, if you don’t have a business mindset, a career in real estate isn’t for you.
Keep in mind that although you’ll be working under a broker, you’ll be responsible for determining your daily schedule, marketing, nurturing the leads, building your network, and overseeing the sales process.
5. Resilient Demeanor
To succeed in real estate, you need to have mental and physical resilience as the industry can be tough to crack and even harder to penetrate.
You’ll encounter many challenges that will test your patience and work ethic.
From going for months without closing a deal to dealing with unreasonable buyers to market uncertainties—things aren’t always going to be easy.
But if you can endure it all, you’ll be a step closer to earning that six-figure salary of your dream.
We hope this article will help you on your journey to becoming a rockstar real estate agent. Feel free to comment and share.