For those who want to make a career in the real estate sector, these practices will surely help you to advance and fulfill your dreams. Becoming a real estate agent is no rocket science, you just need to follow the right direction. We will list some steps which you can follow to move your career ahead. So, if you are opting to provide real estate services, these are some easy methods by which you can easily become a successful broker/agent.
Who is a Real Estate Agent?
For those who are new to this genre, real estate services are provided by someone who represents sellers or buyers of properties. The person who provides these services is termed as a broker or an agent. There is a slight difference between a broker and an agent. An agent has to work under a licensed professional or broker, while a broker can work independently. In order to become a licensed broker, one has to obtain a license from their respective state to be able to negotiate and manage the sale of properties.
A real estate broker can be grouped into 4 categories, mainly – seller’s agent, buyer’s agent, dual agents, and transaction brokers. A real estate broker earns a commission for the successful sales of properties and it varies from 5-10% depending on the real estate companies or property owners.
How to Become a Real Estate Broker/Agent?
As mentioned above, a real estate broker needs to obtain a license from a state authority in order to carry out business in that particular region. The regulations authority provides professional licenses under the Real Estate (Regulation and Development Act),2016 (RERA). Apart from licenses, it is mandatory to join some associations and groups to improve credibility in some regions.
The licensing fee is different for individuals and companies, where companies have to pay a comparatively higher fee than individual brokers. This fee is different from region to region and has to be paid in favor of the state. In India, if the annual turnover is above a certain amount, the company has to register for Good and Services Tax (GST) as well. For detailed information, it is better to consult a tax consultant before applying or registering for a license.
10 Successful Practices for Real Estate
Once a company obtains a license from RERA, the next step is to create a lucrative reputation to attract clients. For one to create a reputable profile, one should target both online and offline sources to generate sales. Here are some pro-tips for growth in the real estate market.
1. Create a Local Reputation
First of all, you need to get to know your local market and let people know you to establish yourself. A few initial projects and sales will help to boost the initial phase of your journey. If you are just starting to get to know the local agents and brokers in your area,
2. Create a Website
For a professional profile, it is essential to have a well-maintained social profile. This will help you engage clients from online searches and will help to expand your market in the future run. The site should be professionally built and should showcase your portfolio with contact information.
3. Start Branding Yourself
After generating a portfolio, the next step is to put yourself first on social media and other marketplaces. You can create social profiles and start branding yourself or your company so people can know about you.
4. Connect with Groups/Messengers
The main aim of creating profiles is to generate leads who are prospective customers for properties you are showcasing. This will help you get your individual clients. You can keep in touch with your clients and update them with new properties through images and descriptions.
5. Showcase Your Properties
The best way to get clients is to showcase a property and its features. The first thing which attracts the customer is the property itself. If a customer likes a certain property, the chances of it being sold get high. Regularly add new properties and keep a variety of properties to reach a variety of customers.
6. Follow-up Leads
Those leads which are not yet converted, follow them with similar properties. The effort should be to close the sales with the properties available in your inventory. Clients are looking for multiple properties at the same time, so following up may help them choose the best ones.
7. Prioritize Customer Needs
However, the customer should not be forced to get himself sold. It is better to know the needs of customers and then advise them about different amenities they can get along with. If the client is satisfied with the basic features of the property like location, size, purpose, etc., the rest is to get the best deal.
8. Maintain Relations
You should strive to create good relationships with your clients and your community. It will improve your reputation and the chances of people recommending you get higher. The more people you connect with, the more your network gets bigger.
9. Understand Your Worth
Never compare yourself or your company with other real estate companies/agents in the market. If you focus on your growth rather than comparing yourself with others, the results will be great. There are aged-old companies and agents in the market, so don’t let yourself down with their built-up reputation.
10. Respect Time
While the decisions in real estate sales take time, the response time to grab customers should not be long. If you take time to respond to your clients, the chances are that they might look for other agents. Every deal has a certain time at which it can be closed. Neither hurrying up nor delaying will help to get clients.
We have mentioned above the tips that can help you to take your career to a high rise in real estate. However, there are no certain rules or steps to achieve success in any field. In order to achieve success, one needs to work hard and learn consistently new things to grow in any field. We hope these steps help you to guide you through your journey and help you achieve better opportunities.
Written By: Mohit Burman
(Disclaimer: This article is from the author’s perspective. Newsnetnow.com will not be responsible for any kind of inconvenience and incorrect or misleading information.)