The number of real estate agents is expected to grow about average until 2022. According to the U.S. Bureau of Labor Statistics, there were a reported 422,000 brokers in 2012, and by 2022, the field is projected to grow 11 percent.
If you're already a broker in the field, you should pay extra attention to field growth projections. Like any other field, you can't remain complacent or else your business will potentially suffer. Likewise, if you're thinking about starting a career as a real estate broker, you should set goals to meet so you're constantly improving.
No matter if you're a veteran or have just entered the field, there are unique ways to ensure success as a broker.
There's no easy way to say this, but as a broker, you're going to constantly be learning. From the moment you are first hired to join a brokerage to retirement, learning the latest trends and whatnot will prove to be beneficial for your career.
When you first start out at a brokerage, real estate website Placester said one of your first tasks to complete after getting hired is to read the company manual. This booklet of information will help you avoid common mistakes while also learning about the company's values. You should also seek out older, more experienced brokers for advice. For instance,they can act as your mentors and provide you with insight into the industry and how to better yourself while showcasing properties.
Training is also something you'll be doing quite often. Not everyone is experienced in sales immediately, so learning the company's enterprise software and volunteering at open houses will sharpen your skills. Hopefully you're comfortable talking with random strangers, because you'll be doing lots of cold calling. The benefit, of course, is you'll improve your person-to-person interaction skills and your sales technique.
If you're more experienced, you can never stop learning. By studying analytical trends and evaluating your personal performance, you can stay ahead of the competition. Part of this learning curve is evaluating your personality, according to The Houston Chronicle. Due to the nature of the job, brokers must embrace change because real estate operates in cycles. When housing sales pick up, you should remain calm and collected as your workload increase. Likewise, when there is a down period, it's important to realize it's part of the business.
There's no way around this: if you're a real estate agent, you need to be proficient with today's technologies, and this includes hardware and software, such as customer relationship management programs.
You should become an expert with mobile because that area is seeing the largest growth. According to Search Engine Land, the number of mobile Google searches officially surpassed desktop totals in May 2015.
To reach a mobile audience, you should equip yourself with the latest tools and applications. A popular app highlighted by Placester in December 2014 is called NuOffer. Essentially, you can eliminate the paperwork of the homebuying process and streamline everything so a deal isn't lost at the last minute.
If you haven't adopted the cloud, now is the time. The longer you wait, the more you'll fall behind. Cloud computing services will make your work easier, as you will have access to photographs, documents and anything else in an instant. Everything can be brought up from your smartphone, tablet or computer. Collaboration is also made easier. Your brokerage may have an internal cloud service in place, but if not, PC Magazine listed Google Drive, Microsoft OneDrive and a few others as the best cloud options for 2015.
For example, a cloud service can allow you to quickly share the findings from the home inspection services.
It's all part of the plan
In order to become a successful real estate agent, you need to create and develop a marketing plan. Your plan will likely look different from someone else's, but that's alright. There are some important components of a successful marketing campaign:
- Create and maintain online profiles
- Create and send out newsletters
- Schedule daily, monthly and yearly goals
This is really only the scratching the surface of a marketing plan, as you may decide to include more tasks, such as attending national realty associations and getting involved in the community. Above all, Entrepreneur recommends you create and stick to a budget.
Find the right opportunity
After you obtain your real estate license, ask yourself what your business and personal goals are. That answer should help guide you toward the right brokerage. According to Placester, examine the company's leadership and what their ideals are.
Areas you should pay particular attention are: location, training and the commission split, to name a few. This will then lead you to franchise brokerages or independent firms. Each has pros and cons that will meet your personality and goals.
There are many steps you can take to better your career, whether you are starting off or are an industry veteran.