With the world changing at such a rapid rate and much uncertainly awaits in the future, is there a way to stay and thrive in the real estate market? In our other article, we explain the impact of technology in relation to real estate agents. Here are some tips that will help you stay and improve your game at the property market. Not a property agent?, don’t worry you can still apply these tips to stay relevant in your particular field.
1) Focus down on a niche
The barrier to entry on becoming a real estate agent is lower in Malaysia compared to other countries. With so many other agents operating around, how do you stand out from the rest?
One way is to focus on a particular sector or niche. Don’t be the agent who is briefly known to have a some listings all over the country.
People are more likely to remember and consult someone who is focused on a particular area of expertise. Do you have a client with a fleet of condos ready to be rented out to students? Spread the word around that you are the go to person for student accommodations.
2) Network and Socialise
In our current age, the knowledge economy allows us to work productively based on our current expertise, however we are limited to our physical capacity to remember and apply our skills when we need it.
There is no longer a need to memorize facts with the sheer power and speed of our devices in our hands. When knowledge is easily accessible to everyone, everywhere at anytime, it is essential that we look back at our roots to see what differentiates us from our others.
Agents with better networking and social skills will gain an upper hand in the industry. Building an emotional connection with a client and helping them act in their own best interest will be an advantage.
Additionally, in an increasingly interconnected world, the increasing likelihood of people traveling abroad, sparks in foreign investment growth, and interaction of people from distinct cultures, it is imperative that agents prioritize building up their networks.
3)Build up your experience
Everyone knows that experience is important in every industry, and people look for these experts. Although the number of years worked in a portfolio does not equal to assured reliability, people tend to respect and trust those that had plenty of cases and projects in past portfolios. Agents with better experience will tend to have a larger pool of resources to work with.
Furthermore, the tendency to provide insightful analysis on a particular area or market is more likely. If possible brush up on any pending how to’s whether its a new legal clause or an amendment in the purchasing process.
4)Work with technology
The rise in popularity of Massive Open Online Courses (MOOC) is not accidental as people from different backgrounds learn new things that can be applied into industries while it couldnt be done in the past. New real estate courses are being added frequently and some of them teach the application of technology in the real estate industry.
More and more technologies are being made ready for estate agent use and one cannot deny the potential and possibilities that they deliver. Lead generating sites such as Bumbung allows listings to work for them so that they will have more time to meet up with clients when needed.
Aiva, a virtual assistant CRM for real estate agents makes managing customers relationships easier and automate some of the tedious processes throughout the day. Software like these are packed with features that filter serious clients through the sales funnels or are able to re target cold leads.
Work with technology and do your best to automate your tasks to the machines, you have a key skill that comes into play on the next point.
Have you ever had a conversation with a call-center operator? Does it sound like they are reading from a preset script making you feel like ‘just another client?’ For every spark of a business relationship, empathy plays a vital role role. Estate agents must begin by understanding the feelings of others and their problems.
By listening attentively, the agent will be know how to react and deliver his/her services appropriately and in essence the client will be satisfied. Always try to understand the underlying needs and feelings of the prospect to deliver well. Customers can feel whether you really care or not.
This comes to conclude that change and innovation must be embraced to be applicable to the ever changing market demands. Do you have anything to add? Let us know in the comments below.