What qualities do successful real estate agents share?
We’ll start with an uncontroversial statement – real estate is a darned difficult business to make a living. From the ruthless competition, to the contrasting personalities, to the whims and sways of consumers, there are few industries quite as multifaceted (and demanding) as real estate.
Those that find success in the industry, though, exhibit definite characteristics, qualities that put them a step above the competition. What are those qualities? Here are three of the most notable:
1. Observational – Successful real estate agents are remarkably observant. Whether its new regulations for lenders, fresh housing statistics or the latest trends in appraisals, the observational agent is aware of all the larger forces influencing their local real estate market.
Of course, being observant extends beyond economics. As Geoffrey James put it in a recent piece for Inc., successful entrepreneurs are also keen students of human nature, and how their clients are behaving.
“Great entrepreneurs are observers of human nature and human behavior,” he said. “They’re profoundly curious about the patterns that guide people’s lives and the activities that bring them pleasure and (especially) pain.”
2. Empathize – Every client is unique, but successful real estate agents are not merely aware of that fact; rather, that understanding infuses their work. From the communication styles of the client, to the marketing of the property, to the timber of negotiations, the successful agent tailors their business strategy to the distinguishing traits of their client, and such a process is only possible with empathy. Only through empathy are you able to understand your clients motivations and truly service their needs.
3. Belief – In the world of real estate, one statistic gets repeated more than any other – the fact that the vast majority of profits in the industry go to a relatively small amount of professionals. As with musicians, athletes and artists, only a small percentage of real estate professionals ascend to the highest ranks.
However, even with those stats in mind, we constantly meet up and coming agents who have ascended the ranks in remarkably short periods of time. How do they do it? Simply, they believe they can. They don’t let statistics get in the way of achieving their dreams, and their belief in their abilities drives them to success.