It is believed that 20% makes realtors while 80% makes commissions. What this means is that many people out there are not making as much as you would imagine. This research may not be true because some of this studies are made on the spot. Some are making it in this realtor business. Some end up not making it and resolve to return to their previous careers as the realtor business could have proved too hard for them.
Understand Your Neighbors
I live in a neighborhood where there is this lady who has taken up the name of the suburb as her surname. She is a realtor and assuming the name of the estate means she knows it inside out. If anything is selling in that neighborhood she is aware. She is aware of the properties that are up for sale, their cost, reason for sale and where the seller is relocating to. Her opinion on if the property was sold at a loss or profit also counts. This just says, know your neighborhood. Know the properties that up for sale and which are not. Know if there are areas that you think buyers do not want to invest in and why. Know the areas which are in demand for their rentals. Now for you to be successful in this kind of business you should be efficient. This means do not undertake what you cannot achieve.
Communicate Relate With People
In real estate, the agents and especially are not a trust lot of people. As a real estate agent what can you do? Build your relations with good communication. If you let your clients in on what you do it will not be hard to convince them.
Respond to calls and emails always. Be available when you can in as much as sometimes it is not easy to be available always. Set a standard of returning calls or emails and stick with it. You will miss leads and faith by people will be lost.
Realtors know that they eat from lead generation. Realtors have many avenues for lead generation. Letter drops, referrals, social media. When you make a sale do not forget to ask for a referral.
Good networking involves keeping in touch with people even if it does not benefit you. If a petrol seller tells your he has a fridge that needs to be fixed. If you know any fridge technician connect them. If you connect with people they will also want to connect with you.